Mumbai, October 5, 2010:

Kotak Mahindra (UK) Ltd. (KMUK), a wholly owned subsidiary of India’s Kotak Mahindra Bank Ltd., today announces the appointment of Abhishek Bhalotia as the CEO of its London office.

Kotak Mahindra (UK) Ltd. (KMUK) specialises in providing India-specific investment strategies and solutions to global investors through a wide range of mutual funds as well as sub-advisory arrangements. The company has a registered office in London, and branches in Dubai and Singapore.

Based in London, Abhishek replaces Shyam Kumar who has returned to work at Kotak Mahindra Bank’s head office in Mumbai.

In his new role Abhishek will be responsible for overseeing business development in Europe, through distribution channels and facilitating institutional sales in the region.

Abhishek joined the Kotak group in July 1995 and has held roles in Kotak Mahindra Bank’s Private Client Group, the Retail Group and the Wealth Management business. Prior to this appointment, Abhishek has been part of the senior management team at Kotak Mahindra (UK) Ltd as CEO of the Dubai branch.

Paul Parambi, Head of the International Business at Kotak Mahindra Bank welcomed the appointment:

“We believe that Abhishek will continue to be a great asset to the Kotak Mahindra team and we are confident that his experience with Kotak makes him ideally placed to successfully drive business development in Europe as we continue to offer international investors access to the Indian growth story.”

Kotak Mahindra (UK) Ltd. (KMUK) offers four long-only Luxembourg-domiciled UCITS III SICAV funds to retail and institutional investors. They are as follows:
• the India Growth Fund (large cap)
• the India Mid-Cap Fund
• the Indian Multicap Fund
• the India Infrastructure Realty Fund (thematic strategy)

Additionally, the firm offers a number of funds for institutional investors.

Note to editors

Important Notice:
The views mentioned above are that of the fund management team at Kotak group and are not intended as a recommendation or for the purpose of soliciting any action in relation to any investments, or to be otherwise relied upon for any purpose.

In the preparation of the material contained in this document we have used information that is publicly available, including information developed in-house. Information gathered & material used in this document is believed to be from reliable sources. We do not warrant the accuracy, reasonableness and/or completeness of any information.

Investments in India are subject to a number of risks including, but not limited to, risk of losing some or all of the capital invested, high market volatility, variable market liquidity, geopolitical risks (including political instability), exchange rate fluctuations (between the currency of the fund’s share class and the Indian Rupee), changes in tax regime and restrictions on investment activities of foreign investors. In addition, shares in the fund may not be readily redeemable. Past investment performance should not be viewed as a guide to, or indicator of, future performance and the value of investments and the income derived from them can go down as well as up. Investments in India should be considered only as part of a diversified overall portfolio of assets. Detailed information on the fund and associated risks is contained in the fund prospectus.