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UTI Bank Limited (UTI)

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Monday 23 July, 2007

UTI Bank Limited

Issue of Equity

UTI Bank Limited
22 July 2007

                                   PRESS RELEASE

             UTI Bank successfully raises US Dollars 1050 million.

Mumbai July 22, 2007: UTI Bank announced that it has successfully priced its
offering of 14.13 million GDRs, aggregating USD 218.07 million. Each GDR,
representing one underlying share, was priced at USD 15.43 and will be listed on
the London Stock Exchange. This represents a discount of 1.7% to the closing
price of the Bank's GDR on Friday, July 20.

In addition, the Bank has determined the Issue Price of the equity shares to be
offered in the proposed Qualified Institutional Placement (QIP) to be Rs. 620
per share. The size of the QIP will be Rs 1,752 crores.

Further, the Bank proposes to allot, on a preferential basis, 2,56,21,076 shares
to its promoters at Rs. 620 per share aggregating to Rs. 1,588 crores.

The date of settlement for all 3 offerings will be July 27, 2007. Citi and
Goldman Sachs acted as the Joint Bookrunners for the GDR and QIP offering.

P. J. OZA
Company Secretary


                      This information is provided by RNS
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