Assets Under Management Rs. 56, Crore (As on October 31, 2007)

Transcription

1 Assets Under Management Rs. 56, Crore (As on October 31, 2007)

2 The Market Time for Cautious Optimism O v e r v i e w Fixed Income Market Snapshot esh Shah Deputy Managing Director Chief Investment Officer Impact on Interest Rates FACTORS Short Term Medium Term (1-3 Months) (3-6 Months) Inflation NEGATIVE NEGATIVE While headline inflation is at 3.1%, core inflation (non-oil non-global commodities) is at 5%, as of October 13, Although both core and headline inflation are within RBI's comfort zone of 5%, the recent rise in oil and CRB foodstuff index has raised concerns. Indeed, food price pressure has lifted the consumer price index (Industrial workers) for the past consecutive months to 7.3% in August 2007 from a trough of 5.7% in June Moreover, RBI has also highlighted its concerns on potential risk of sharp inflation in China getting transmitted to its trading partners. Money Supply NEGATIVE NEUTRAL Growth in M3, year-on-year (y-o-y), was 21.8 per cent on October 12. This is higher than the target growth rate of % set by RBI. The CRR hike is likely to drain out close to Rs crore from the system. Also, with the busy season setting in, currency in circulation is expected to increase. Unless the foreign inflow keeps flooding in and RBI keeps buying dollars, liquidity is likely to turn negative from the second fortnight of November. Credit Demand NEGATIVE NEGATIVE As the busy season approaches we might see the credit growth picking up. But so far in this fiscal year, there has been a slowdown in personal loans (housing as well as consumer durables) and agri-lending has seen significant deceleration. However, there has been a robust growth in credit to industry and services sectors.within industry, credit growth to petroleum, construction and infrastructure (power, port, telecom) sectors remains strong. Government Borrowings NEGATIVE NEGATIVE The government borrowed Rs.18,000 crore through the scheduled auction in G- secs. In addition, the RBI issued dated securities amounting to Rs.31,000 crores under the MSS route to pull out excess liquidity from the system leading to an increase in SLR supply. Going forward, we might see a jump in government spending as the Sixth Pay Commission is under discussion. This is probably the most serious risk to the public finances as there might be a sudden jump in the government spending as a consequence of increase in the payscales. Foreign Exchange Market NEGATIVE NEUTRAL The rupee remained volatile during the month in line with the stock markets. RBI is currently supporting the rupee at 39.3 levels. The Rupee has appreciated more than 10% against the US dollar during April-October this fiscal, moderating the export growth impacting exports whose growth moderated to 18.2% during the April-August period as against 27.1% in the year-ago period. Overseas investments into local stocks have been a key driver of the rupee. With the Fed rate cuts, the pressure on rupee to appreciate will only go further up. RBI Policy NEGATIVE NEGATIVE RBI hiked cash reserve ratio (CRR) by 50 bps to 7.5% but left policy rates unchanged. The Central Bank has also maintained its monetary stance implying that it will not cut policy rates immediately. More importantly, RBI has reduced its medium term inflation target to 3% from the earlier stated 4.0 to 4.5%. The monetary policy measures and policy stance indirectly convey the dilemma facing the Central Bank when higher rates are attracting capital inflows but rising oil and food prices pose the risks to inflation outlook making it difficult to cut policy rates. Market Sentiment NEGATIVE NEGATIVE The markets remained positive as the system remained flush with liquidity and the markets discounted a Fed rate cut. However, aggressive MSS issuances by RBI kept the prices in check. The 10-year g-sec yields moved between 7.90% and 7.84% during the month. Towards the end of the month, the short-term yields went up as a CRR hike was announced by RBI. This resulted in turning the yield curve almost flat. OUTLOOK RBI has been doing a tough balancing act of slowing the appreciation of Rupee, bringing down the inflation, maintaining appropriate liquidity, keeping growth momentum and maintaining order in the banking sector in last couple of quarters against rising global uncertainties. They have done a splendid job till now yet they cannot sit on their laurels. The FX Flows are increasing every quarter leading to rupee appreciation, which is putting severe stress on the export-focused sectors. Though WPI is low, higher oil prices cannot be ignored making inflationary pressures clearly visible. If the FX flows do not moderate and inflationary pressures remain, we can expect more CRR hikes in future (and some other measures). However, if the global uncertainties prevail resulting in further rate cuts by the Fed, leading to widening interest gap, we may see a rate cut going forward. We recommend our investors to continue to invest in Long Term Gilt Funds and Income Funds at 10 year Gilt Yields of 7.85 % (around Current Level) with a three to six months view. Equity Market Snapshot Fundamentals India's Index of Industrial Production (IIP) rose by 10.7% YoY for August 2007 boosted by a robust performance by the manufacturing and mining sectors each clocking 10.4% and 17.1% YoY growth respectively. The Basic goods and Capial goods sectors have shown the best YTD CY2007 growth of 13.3% and 30.0% YoY respectively. Such positive macro numbers suggest that industrial growth is cruising along at a steady pace. On the other hand corporate results have been fairly above expectations with growth in Q2FY08 Net Profit of about 23% YoY for 1664 companies which have declared quarterly performance so far. An indication of the good, steady corporate performance is the tax collection figure which registered a growth of 45.71% YoY for the period April to October This itself in a way portrays that India is fairly resilient to slowdown in most global economies. Technicals Investments by Institutions Sept. Oct. in cash segment (Rs. Cr.) FIIs (Net Purchases / Sales) MFs (Net Purchases / Sales) Avg Daily Open Interest (Rs. Cr.) Index Futures Stock Futures Index Options Stock Options Total Avg Daily Volumes (Rs. Cr.) CASH Segment BSE NSE Total Derivative Segment NSE Avg Advance Decline Ratio BSE NSE Valuation Ratios Sept Oct.2007 P/E ratio- Sensex P/E ratio- Nifty Price/Book Value Ratio-Sensex Price/Book Value Ratio-Nifty Dividend Yield-Sensex Dividend Yield-Nifty Indices Movement % change % change Aug-Sept 07 Sept-Oct 07 Sensex Nifty BSE Healthcare BSE Consumer Durables Bankex BSE Teck Index BSE Mid Cap BSE Auto BSE Small Cap BSE PSU BSE Oil & Gas BSE FMCG BSE Capital Goods BSE Metals Market Sentiments Last month, in the midst of volatility, Sensex zoomed up by more than 14.7%, the second best performing month after December Sensex scaled the 20,000 mark and finally settled at 19,838 at the close of the month. The rally was largely driven by liquidity in the market, particularly from Foreign Investments. To better monitor the investments by FIIs and to encourage further transparency in the investment process, SEBI has initiated strict restriction on Participatory Notes in a phased manner. While initially the market reacted adversely, overall growth momentum and relative attractiveness of the Indian markets continued to draw FII money. The Indian Market on a historical basis looks expensive. The Market Cap to GDP ratio of India is now almost 150%. If we add the unlisted sectors like Airports, Railways, etc. then the number could be as high as 200%. Clearly that looks unsustainable over a longer period of time. Then, why is the market not falling down? Well, the Indian market compared to Chinese market looks fairly cheap. One Chinese company, China Petro is today almost equal to 66% of the entire Market Cap of India. The investors are rushing-in to buy Indian stocks based on Chinese comparisons. In the Mid Term Review of Annual Policy Statement, the RBI hiked CRR by 50bps to 7.5% effective November 10th. In another move, the government has raised the limit on the MSS to Rs2000bn, giving space to the RBI to absorb liquidity. The CRR hike of 0.5 % in the policy along with the P Note Guideline from SEBI, ECB and FCCB guidelines and the increase in the MSS limits before the policy are tools with which RBI is fighting global forces. The Indian market is polarized between insanity, expensive and cheap to fair value stocks. Few stocks today are at the teen-bubble valuations. Few sectors like capital goods are trading at expensive valuations albeit supported by the order book and expected growth. A host of other sectors like Auto, Pharma, Tech, Textiles are trading at a cheap to fair value on concerns of interest rates and currency. Global Events: October 2007 was very eventful in more than one ways. Gold price crossed $800 / ounce after 27 years. Oil price traded above $ 90 a barrel. And Fed cut its benchmark rate again in less than 2 months, this time by 0.25%. While 27 years ago gold reached as high as $875 per ounce, the recent recovery of the metal has occurred at remarkable pace, with people flocking to buy gold under a new belief in higher commodity prices. Two key drivers for the rally in gold price are continued dollar weakness and strengthening oil price. Crude prices sore high basically due to supply concerns after US imposed fresh sanction on Iran and as tension mounted between Turkey and Iraq. The Fed rate cut could be regarded as a non-event as the markets had already factored in the cut as suggested by the Fed Futures rate. Outlook: It is really notable that prices of almost all assets have been on the rise equity (strong liquidity), bonds (benign interest rate outlook), gold (weakening dollar and rising demand), real estate (favourable demographics), and crude oil (rising tension in the middle east). News flow on quarterly corporate performance has been decent, despite the high base effect, rising rupee-hurting exports, high interest rates and increasing costs. The growth momentum is on and underlying fundamentals are strong. In the short-run the markets are still ahead of fundamentals but in the long run and as compared to peers the Indian markets are not unreasonable. Economic fundamentals, pro-investor market environment and corporate performance are major market-drivers. Besides these fundamental factors, global liquidity is expected to play a major role going forward. Indian economic growth has been good and corporate performance has been above expectations. Analysts believe that Indian 2

3 equity markets are in the midst of a long bull cycle, but investors should not be carried away by the recent rally, as short-term correction cannot be ruled out. In such market conditions we advise caution to our investors. Our recommendation to investors is as follows; In a fair value market plus, maintain a neutral allocation towards equities Do not try to time the market, as high short-term volatility cannot be ruled out Asset allocation and Systematic Investment Plans are the best way to safeguard against volatility. They ensure optimal returns and not the maximum return in volatile markets Investors should look at a mix of large and mid cap funds for 3-5 years horizon on systematic investment basis Valuation levels of the Sensex based on Q3FY09 earnings estimate of Rs.950 ICICI Prudential Fusion Fund-Series II Close-ended Diversified Equity Scheme Style Box Fund Manager : Anand Shah Style (Managing this fund since inception & total experience Value Blend Growth Size of 6.5 yrs in equity reaserch & funds management) Large Indicative Investment Horizon: 3 yrs and more Inception date: Fund Size: Rs. 1, crores Mid Growth option Dividend option : Rs : Rs Small Institutional Growth Option : Rs **Expense Ratio : Retail option : 2.02% Institutional option-i : 1.22% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Performance Record *- Growth Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nfty Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Sector Allocation* 1-Jan Jan-06 8-Feb Feb Mar-06 6-Apr Apr May-06 2-Jun Jun Jul Jul Aug-06 5-S ep S ep Oct-06 1-Nov Nov-06 9-Dec Dec Jan-07 4-Feb Feb Mar-07 2-Apr Apr May May Jun-07 6-Jul Jul Aug-07 1-S ep S ep-07 9-Oct Oct % Healthcare Services Pesticides Paper Textiles - Cotton Consumer Non-Durable Minerals/Mining Auto Ancillaries Oil Power Fertilizers Telecom Services Non-Ferrous Metals Chemicals Finance Cement Petroleum Products Industrial Capital Goods Construction Retailing Industrial Products Pharmaceuticals Banks Ferrous Metals Software Media & Entertainment 41.59% Last 6 Months Fusion Fund - series II 0.16% 0.52% 0.66% 0.78% 0.82% 0.99% 1.51% 1.63% 1.88% 1.89% 2.21% 2.42% 2.90% 2.93% 2.99% 3.93% 4.29% 4.64% 5.36% 5.51% 6.34% 7.77% 7.79% 9.55% *Pertains to the equity investments only. Quantitative Indicators: Average P/E : 24 Average P/BV : 3.94 Average Dividend Yield: 1.33 Annual Turnover Ratio: 1.50 times 34.20% 54.40% Since Inception S&P CNX Nifty 13.48% 4.00% 8.00% 12.00% 16.00% Std Dev : 3.84% Sharpe Ratio^ : 0.98 Beta : 0.51 R squared : 0.87 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. 3 Suggested Equity Allocation (Assuming 50% equity allocation as neutral) Exploit the long-term investment potential in small & mid-cap segment Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto Ancillaries 1, % Ceat Ltd 1, % Banks 9, % HDFC Bank Ltd 3, % ICICI Bank Ltd 3, % Federal Bank Ltd 2, % Punjab National Bank Ltd 1, % Cement 3, % Birla Corporation Ltd 1, % Grasim Industries Ltd 1, % Chemicals 3, % Time Technoplast Ltd 3, % Construction 5, % Maytas Infra Ltd 2, % Nagarjuna Construction Company Ltd 2, % IVRCL Infrastructure & Projects Ltd 1, % Consumer Non-Durable 1, % Shree Renuka Sugars Ltd 1, % Ferrous Metals 9, % Steel Authority of India Ltd 2, % Ratnamani Metals & Tubes Ltd 2, % Usha Martin Ltd 2, % Kalyani Steels Ltd 1, % Mukund Ltd % Monnet Ispat Ltd % Fertilizers 2, % Coromandel Fertilisers Ltd 2, % Kaveri Seed Company Ltd % Finance 3, % SREI Infrastructure Finance Ltd 3, % Healthcare Services % Vimta Labs Ltd % Industrial Capital Goods 5, % Suzlon Energy Ltd 3, % ABG Heavy Industries Ltd 1, % ION Exchange India Ltd % Industrial Products 7, % AIA Engineering Ltd 2, % Kirloskar Oil Engines Ltd 2, % Esab India Ltd 1, % Max India Ltd % H.E.G. Ltd % Media & Entertainment 17, % Zee Entertainment Enterprises Ltd 4, % Deccan Chronicle Holdings Ltd 3, % Entertainment Network India Ltd 2, % Prime Focus Ltd 2, % Television Eighteen India Ltd. 2, % HT Media Ltd 1, % ETC Networks Ltd % Minerals/Mining 1, % Gujarat NRE Coke Ltd 1, % Non-Ferrous Metals 3, % Sterlite Industries India Ltd 3, % Oil 2, % Cairn India Ltd 2, % Paper % Ballarpur Industries Ltd % Pesticides % Advanta India Ltd % Petroleum Products 5, % Reliance Industries Ltd 5, % Pharmaceuticals 8, % Dishman Pharmaceuticals & Chemicals Ltd 4, % Cadila Healthcare Ltd 2, % Glenmark Pharmaceuticals Ltd % Nicholas Piramal India Limited % Nicholas Piramal India Limited-Futures % Power 2, % PTC India Ltd 2, % Retailing 6, % Subhiksha Trading Services Pvt Ltd 5, % Pantaloon Retail (India) Ltd 1, % Software 12, % Tata Consultancy Services Ltd 3, % Sasken Communications Technologies Ltd 2, % Allied Digital Services Ltd 2, % MphasiS Ltd 1, % 3i Infotech Ltd 1, % Geometric Software Solutions Ltd % Telecom Services 2, % Bharati Airtel Ltd 2, % Textiles - Cotton % Vardhaman Textiles Ltd % CPs, CDs and Term Deposits % ICICI Bank Ltd % Cash, CBLO & Reverse Repo 4, % Other Current Assets 4, % Total Net Assets 127, Top Ten Holdings

4 ICICI Prudential Dynamic Plan Open Ended Diversified Equity Fund Style Box Fund Manager : Sankaran Naren (Managing this fund since Sept., 2006 & total 17 yrs of experience in fund management, equity research, operation etc.) Indicative Investment Horizon: 3 yrs & more Inception date: Fund Size: Rs. 2, crores Growth option : Rs Dividend option : Rs Institutional Option-I : Rs **Expense Ratio : Retail option : 1.88% Institutional option-i : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Dynamic Plan Vs S&P CNX Nifty 909, , , , , , , , ,665 9,665 CAGR Dynamic Plan: 53.42%; Benchmark: 44.02% Past performance may or may not be sustained in future. Performance Record *- Cumulative Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Dynamic Plan *Pertains to the equity investments only. S&P CNX Nifty Rs Rs Oct-02 Jan-03 Apr-03 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct % 53.42% 44.34% 57.60% 26.72% 43.79% 48.81% 44.02% Last 6 Months Last 1 year Last 3 years Since Inception Dynamic Plan S&P CNX Nifty Fertilizers Auto Ancillaries Construction Ferrous Metals Transportation Textiles - Products Hotels Auto Cement Industrial Products Industrial Capital Goods Oil Consumer Non-Durable Telecom Services Pharmaceuticals Media & Entertainment Software Power Banks Petroleum Products 1.11% 1.37% 1.54% 1.81% 1.86% 2.03% 2.98% 3.34% 3.77% 3.78% 4.06% 4.18% 4.65% 5.06% 5.21% 6.10% 7.51% 8.94% 9.58% 12.24% 4.00% 8.00% 12.00% Medium term investment of funds for capital appreciation by managing cash and equity portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto 7, % Mahindra & Mahindra Ltd 6, % Bajaj Auto Ltd 1, % Auto Ancillaries 3, % Apollo Tyres Ltd 2, % Sundaram Clayton Ltd 1, % Banks 22, % ICICI Bank Ltd 10, % Federal Bank Ltd 8, % Punjab National Bank Ltd 3, % Bank of Baroda Ltd 1, % Cement 9, % Orient Paper & Industries Ltd 4, % Grasim Industries Ltd 3, % Hyderabad Industries Ltd % Construction 3, % Patel Engineering Ltd 3, % Consumer Non-Durable 11, % Tata Tea Ltd 4, % Marico Industries Ltd 3, % ITC Ltd 1, % Shree Renuka Sugars Ltd 1, % Ferrous Metals 4, % Steel Authority of India Ltd 3, % Mukund Ltd 1, % Fertilizers 2, % Coromandel Fertilisers Ltd 2, % Hotels 7, % Indian Hotels Company Ltd 7, % Industrial Capital Goods 9, % Texmaco Ltd 5, % Larsen & Toubro Limited 3, % Industrial Products 9, % Sterlite Optical Technologies Ltd 4, % Greaves Cotton Limited 3, % AIA Engineering Ltd 1, % Media & Entertainment 14, % Deccan Chronicle Holdings Ltd 9, % Zee Entertainment Enterprises Ltd 4, % Oil 9, % Oil & Natural Gas Company Ltd 9, % Petroleum Products 29, % Reliance Industries Ltd 29, % Pharmaceuticals 12, % Alembic Ltd 4, % Cadila Healthcare Ltd 3, % Dr. Reddys Laboratories Ltd 2, % Glenmark Pharmaceuticals Ltd 1, % Aventis Pharma Ltd % Power 21, % National Thermal Power Corporation Ltd 21, % Software 17, % Tata Consultancy Services Ltd 10, % HCL Technologies Limited 3, % Infosys Technologies Ltd 2, % Subex Azure Ltd 1, % HCL Technologies Limited-Futures % Telecom Services 12, % Bharati Airtel Ltd 12, % Textiles - Products 4, % Aditya Birla Nuvo Ltd 4, % Transportation 4, % Containers Corporation of India Ltd 4, % CPs, CDs and Term Deposits 11, % ICICI Bank Ltd 10, % Canara Bank Ltd % Cash, CBLO & Reverse Repo 5, % Other Current Assets 4, % Total Net Assets 238, Top Ten Holdings Quantitative Indicators: Average P/E : 21 Average P/BV : 4.09 Average Dividend Yield : 1.28 Annual Turnover Ratio : 2.18 times turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. SIP Returns: 4 As on 31-Oct-2007 Std Dev : 6.59% Sharpe Ratio^ : 0.53 Beta : 0.88 R squared : 0.69 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , % Since Inception 31-Oct-02 61, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & Fund Manager's Comment The fund maintained an average equity exposure at ~91% during the month, indicating a cautious stance. The fund has increased exposure to Cements, Industrial Capital Goods, Petroleum Products, Power and Telecom while it has reduced exposure to Banks Media & Entertainment and Software.

5 ICICI Prudential Power Open Ended Diversified Equity Fund Fund Manager : Anand Shah (Managing this fund since June, 2007 & total experience of over 6.5 yrs in equity reaserch & funds management) Indicative Investment Horizon: 5 yrs & more Inception date: Fund Size: Rs. 1, crores Growth option : Rs Dividend option : Rs Institutional option-i : Rs **Expense Ratio : Retail option : 2.00% Institutional option- I : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Power Plan Vs S&P CNX Nifty 1,206,056 1,006, , , , ,056 6,056 CAGR Power: 20.19%; Benchmark: 12.31% Past performance may or may not be sustained in future. Performance Record* - Growth Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Power *Pertains to the equity investments only. S&P CNX Nifty Style Box Rs Rs Oct-94 Sep-95 Aug-96 Jul-97 Jun-98 May-99 Apr-00 Mar-01 Feb-02 Jan-03 Dec-03 Nov-04 Oct-05 Sep-06 Aug % 53.70% 45.64% 57.25% 44.34% 48.81% 32.95% 44.02% Last 6 Months Finance Transportation Non-Ferrous Metals Consumer Non- Industrial Products Auto Telecom Services Pharmaceuticals Construction Cement Power Ferrous Metals Petroleum Products Software Media & Entertainment Industrial Capital Goods Banks Last 1 Last 3 Last 5 years years years Power S&P CNX Nifty 1.56% 1.56% 2.17% 2.48% 3.02% 3.22% 4.98% 5.07% 5.51% 5.93% 6.74% 7.29% 7.64% 8.31% 9.55% 9.88% 20.19% 12.31% Since Inception 11.40% 4.00% 8.00% 12.00% Fund Manager's Comment The fund maintained an average equity exposure of ~96% during the month indicating value buying at lower levels. The fund has increased exposure to Construction, Ferrous Metals and Power while exposure to Software, Industrial Capital Goods and Telecom Services is reduced. The fund has taken fresh positions in the Finance and Non- Ferrous Metals sectors. Long term investment of funds for capital appreciation in a concentrated multi sector portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto 5, % Mahindra & Mahindra Ltd 5, % Banks 18, % ICICI Bank Ltd 8, % HDFC Bank Ltd 4, % State Bank of India Ltd 3, % Punjab National Bank Ltd 1, % Cement 9, % Grasim Industries Ltd 4, % Century Textiles & Industries Ltd 2, % Associated Cement Companies Ltd 2, % Construction 9, % Patel Engineering Ltd 4, % Indiabulls Real Estate Ltd 2, % IVRCL Infrastructure & Projects Ltd 2, % Consumer Non-Durable 4, % ITC Ltd 4, % Ferrous Metals 12, % Steel Authority of India Ltd 6, % Tata Steel Ltd-Futures 3, % Kalyani Steels Ltd 2, % Finance 2, % SREI Infrastructure Finance Ltd 2, % Industrial Capital Goods 16, % Larsen & Toubro Limited 6, % Bharat Heavy Electricals Ltd 5, % Siemens India Ltd 4, % Industrial Products 5, % Jain Irrigation Systems Ltd 2, % AIA Engineering Ltd 2, % Media & Entertainment 15, % Zee Entertainment Enterprises Ltd 6, % Deccan Chronicle Holdings Ltd 3, % HT Media Ltd 3, % Television Eighteen India Ltd. 2, % Non-Ferrous Metals 3, % Sterlite Industries India Ltd 3, % Petroleum Products 12, % Reliance Industries Ltd 12, % Pharmaceuticals 8, % Sun Pharmaceutical Industries Ltd 4, % Cadila Healthcare Ltd 2, % Plethico Pharmaceuticals Ltd 1, % Power 11, % National Thermal Power Corporation Ltd 7, % Tata Power Company Limited 3, % Software 13, % Tata Consultancy Services Ltd 5, % Infosys Technologies Ltd 5, % HCL Technologies Limited 2, % Sasken Communications Technologies Ltd % Telecom Services 8, % Bharati Airtel Ltd 8, % Transportation 2, % Containers Corporation of India Ltd 2, % CPs, CDs and Term Deposits 4, % Rabo India Finance Ltd 3, % ICICI Bank Ltd 1, % Cash, CBLO & Reverse Repo 5, % Other Current Assets (3,999.06) -2.43% Total Net Assets 165, Top Ten Holdings Quantitative Indicators: Average P/E : 27 Average P/BV : 5.31 Average Dividend Yield : 0.69 Annual Turnover Ratio : 2.08 times turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 1-Oct , , ,337, % 5 Std Dev : 6.28% Sharpe Ratio^ : 0.52 Beta : 0.90 R squared : 0.80 Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & 2006.

6 ICICI Prudential Indo Asia Equity Fund Open Ended Diversified Equity Fund Style Box Fund Managers : Sankaran Naren (Managing this fund since inception & over 17 yrs of experience in fund management, equity research, operation etc.) Amit Mehta (Experience of 2.5 yrs in engineering & banking) Indicative Investment Horizon: 3 yrs & more Inception date: Fund Size: Rs. 1, crores Growth option : Rs Dividend option : Rs Institutional Growth Option : Rs **Expense Ratio : Retail option : 1.95% Institutional option-i : 1.95% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Performance Record *- Cumulative Option 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is 65% of S&P CNX Nifty + 35% of MSCI AC Far East Free ex-japan Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Sector Allocation* Textiles - Products Construction Industrial Products Consumer Non-Durable Pharmaceuticals Power Auto Media & Entertainment Telecom Services Cement Oil Software Industrial Capital Goods Banks Petroleum Products 6.40% Indo Asia 0.43% 1.29% Since Inception 1.99% 2.20% 2.49% 2.57% 2.75% 3.20% 8% Benchmark 5.03% 5.56% 6.23% 7.12% 7.47% 7.98% 9.09% 2.00% 4.00% 6.00% 8.00% 1 Long term capital appreciation by investing in equity, equity related securities & or share classes/units of equity funds of companies in the Asia Pacific region. Company/Issuer Mkt Value (Rs. Lakh) % to NAV Overseas Investments 26, % IOF Asian Equity Fund 26, % Auto 2, % Mahindra & Mahindra Ltd 1, % Bajaj Auto Ltd 1, % Banks 7, % ICICI Bank Ltd 6, % Punjab National Bank Ltd % Karur Vysya Bank Ltd % Cement 5, % Grasim Industries Ltd 5, % Construction 1, % Ahluwalia Contractors Ltd 1, % Consumer Non-Durable 2, % Asian Paints Ltd 2, % Industrial Capital Goods 7, % Larsen & Toubro Limited 4, % Bharat Electonics Ltd 2, % Crompton Greaves Ltd 1, % Industrial Products 1, % Cummins India Ltd 1, % Media & Entertainment 3, % Zee Entertainment Enterprises Ltd 2, % Deccan Chronicle Holdings Ltd % Oil 6, % Oil & Natural Gas Company Ltd 6, % Petroleum Products 9, % Reliance Industries Ltd 9, % Pharmaceuticals 2, % Dr. Reddys Laboratories Ltd 2, % Power 2, % Tata Power Company Limited 2, % Software 7, % Tata Consultancy Services Ltd 3, % HCL Technologies Limited 1, % NIIT Ltd 1, % Infosys Technologies Ltd % Telecom Services 5, % Bharati Airtel Ltd 5, % Textiles - Products % Aditya Birla Nuvo Ltd % CPs, CDs and Term Deposits 4, % ICICI Bank Ltd 3, % Bajaj Auto Ltd 1, % Cash, CBLO & Reverse Repo 13, % Other Current Assets (10,523.48) % Total Net Assets 100, Top Ten Holdings *Pertains to the equity investments only. 6

7 ICICI Prudential Emerging S.T.A.R. Fund Open Ended Diversified Equity Fund Fund Manager : Deven Sangoi (Managing this fund since Sept., 2006 & overall 11 yrs of equity market experience & 5 yrs of fund management experience) Indicative Investment Horizon: 3 years & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs Institutional option-i : Rs **Expense Ratio : Retail option : 2.07% Institutional option-i : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/ Exit Load & page no. 41 for dividend history) Performance Record *- Growth Option Emerging S.T.A.R. Fund NIFTY Junior Index *Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is Nifty Junior. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* *Pertains to the equity investments only. Quantitative Indicators: Average P/E : 21 Average P/BV : 3.90 Average Dividend Yield : 3.12 Annual Turnover Ratio : 1.00 times Style Box Rs invested at inception: Emerging S.T.A.R Fund Vs NIFTY Junior 409, , , , , , ,933 59,933 9,933 CAGR Emerging S.T.A.R. Fund : 55.59%; Benchmark : 44.90% Past performance may or may not be sustained in future Consumer Durables Banks Chemicals Textiles - Cotton Transportation Power Pharmaceuticals Textiles - Products Finance Cement Construction Auto Ancillaries Ferrous Metals Software Industrial Capital Goods Media & Entertainment Industrial Products Emerging S.T.A.R. Fund NIFTY Junior Index 0.62% 1.00% 1.00% 1.00% 1.26% 1.98% 4.36% 5.09% 5.17% 6.05% 6.36% 7.41% 8.43% 8.89% 9.64% Rs Rs Oct-04 Dec-04 Feb-05 Apr-05 Jun-05 Aug-05 Oct-05 Dec-05 Feb-06 Apr-06 Jun-06 Aug-06 Oct-06 Dec-06 Feb-07 Apr-07 Jun-07 Aug-07 Oct % 55.65% 55.59% 41.40% 49.29% 45.04% 44.90% 30.66% Last 6 Months Last 1 year Last 3 years Since Inception 13.57% 15.76% 4.00% 8.00% 12.00% 16.00% Std Dev : 7.33% Sharpe Ratio^ : 0.47 Beta : 0.89 R squared : 0.71 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. Long term investment of funds for capital appreciation on a mid-cap portfolio Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto Ancillaries 6, % Phillips Carbon Black Ltd 2, % Apollo Tyres Ltd 1, % Bosch Chassis Systems India Ltd 1, % Rico Auto Industries Ltd 1, % Banks % Union Bank of India Ltd % Cement 5, % India Cements Ltd 1, % Ramco Industries Ltd 1, % Madras Cements Ltd 1, % Birla Corporation Ltd % Orient Paper & Industries Ltd % Chemicals % Beck India Ltd % Vivimed Labs Ltd % Construction 5, % Patel Engineering Ltd 3, % Nagarjuna Construction Company Ltd 2, % Consumer Durables % Mirza International Ltd % Ferrous Metals 7, % Welspun Gujarat Stahl Roh Ltd 3, % Kalyani Steels Ltd 1, % Mukund Ltd 1, % Kirloskar Ferrous Industries Ltd % Finance 4, % India Infoline Ltd 4, % Industrial Capital Goods 8, % TRF Ltd 4, % RPG Transmission Ltd 1, % Solectron EMS India Ltd 1, % Stone India Ltd % Solectron Centum Electronics Ltd % Industrial Products 14, % Sintex Industries Ltd 4, % AIA Engineering Ltd 2, % Finolex Cables Ltd 2, % Sterlite Optical Technologies Ltd 2, % Graphite India Ltd 1, % Cummins India Ltd % Media & Entertainment 12, % Deccan Chronicle Holdings Ltd 6, % Prime Focus Ltd 3, % Jagran Prakashan Pvt Ltd 2, % Pharmaceuticals 3, % Dishman Pharmaceuticals & Chemicals Ltd 2, % Glenmark Pharmaceuticals Ltd 1, % Power 1, % Webel SL Energy Ltd 1, % Software 7, % Megasoft Ltd 1, % Geodesic Information Systems Ltd 1, % Nucleus Software Exports Ltd 1, % Subex Azure Ltd 1, % 3i Infotech Ltd 1, % Textiles - Cotton % Havells India Ltd % Textiles - Products 4, % Provogue (India) Ltd 2, % Aditya Birla Nuvo Ltd 1, % Transportation 1, % All Cargo Global Logistics Ltd 1, % CPs, CDs and Term Deposits % ICICI Bank Ltd % Cash, CBLO & Reverse Repo 2, % Other Current Assets (917.21) -1.04% Total Net Assets 89, Top Ten Holdings SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % Since Inception 28-Oct-04 38, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2004 & Fund Manager s Comment The fund maintained an average equity exposure of ~98% during the month, indicating value buying at lower levels. The fund has increased allocation to Construction, Ferrous Metals, Industrial Products and Media & Entertainment. The fund has reduced exposure to Software, Banks and Cement sectors. 7

8 ICICI Prudential Tax Plan Open Ended Diversified Equity Fund Style Box Fund Manager : Sankaran Naren (Managing this fund since Oct., 2005 & over 17 yrs of experience in fund management, equity research, operation etc.) Indicative Investment Horizon: 3 yrs & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : 2.16% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Tax Plan Vs S&P CNX Nifty 1,206,301 1,006, , , , ,301 6,301 CAGR Tax Plan: 33.91%; Benchmark : 19.75% Past performance may or may not be sustained in future. Performance Record *- Growth Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Tax Plan *Pertains to the equity investments only. S&P CNX Nifty Rs Rs Aug-99 Feb-00 Aug-00 Feb-01 Aug-01 Feb-02 Aug-02 Feb-03 Aug-03 Feb-04 Aug-04 Feb-05 Aug-05 Feb-06 Aug-06 Feb-07 Aug % 56.85% 20.33% 48.81% 44.02% 44.34% 47.75% 25.09% 33.91% 19.75% Last 6 Months Textiles - Synthetic Textiles - Cotton Healthcare Services Textiles - Products Telecom Services Fertilizers Power Media & Entertainment Oil Cement Retailing Industrial Products Chemicals Pharmaceuticals Petroleum Products Construction Auto Ancillaries Consumer Non-Durable Software Banks Industrial Capital Goods Last 1 year Tax Plan 0.18% 0.42% 1.42% 1.89% Last 3 years S&P CNX Nifty 2.36% 2.47% 2.80% 2.98% 3.24% 3.29% 3.71% 4.00% Last 5 years 4.76% 6.03% 6.52% 6.75% 6.87% 7.63% Since Inception 8.49% 8.80% 9.23% 2.00% 4.00% 6.00% 8.00% 1 Medium term investment of funds with tax benefits for capital appreciation Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto Ancillaries 5, % Kesoram Industries Ltd 2, % Sundaram Clayton Ltd 1, % Rane Madras Ltd % Sundaram Brake Linings Ltd % Rane Brake Linings Ltd % Banks 7, % ICICI Bank Ltd 3, % ING Vysya Bank Ltd 2, % Bank of Baroda Ltd % Punjab National Bank Ltd % Cement 2, % Orient Paper & Industries Ltd 2, % Chemicals 4, % India Glycols Ltd 1, % Clariant Chemicals (India) Ltd 1, % Gwalior Chemical Industries Ltd % Atul Ltd % Construction 5, % Sadbhav Engineering Ltd 4, % Peninsula Land Ltd 1, % Consumer Non-Durable 6, % Tata Tea Ltd 3, % Gillette India Ltd 1, % Hindustan Sanitaryware & Industries Ltd % Venky's (India) Ltd % Fertilizers 2, % Zuari Industries Ltd 2, % Healthcare Services 1, % Apollo Hospitals Enterprises Ltd 1, % Industrial Capital Goods 7, % Bharat Electonics Ltd 1, % Numeric Power Systems Ltd 1, % Hindustan Dorr-Oliver Ltd 1, % Crompton Greaves Ltd 1, % Lanco Infratech Ltd 1, % Kalpataru Power Transmission Ltd % Industrial Products 3, % H.E.G. Ltd 1, % Poleplex Corporation Ltd 1, % Paper Products Ltd % MM Forgings Ltd % Media & Entertainment 2, % Deccan Chronicle Holdings Ltd 1, % Zee News Ltd % Oil 2, % Oil & Natural Gas Company Ltd 2, % Petroleum Products 5, % Reliance Industries Ltd 5, % Pharmaceuticals 5, % Cadila Healthcare Ltd 3, % FDC Ltd 1, % Alembic Ltd % Power 2, % National Thermal Power Corporation Ltd 2, % Retailing 3, % Vishal Retail Ltd 1, % Pantaloon Retail (India) Ltd 1, % Software 7, % 3i Infotech Ltd 1, % HCL Technologies Limited 1, % NIIT Ltd 1, % Megasoft Ltd 1, % Tata Consultancy Services Ltd 1, % Firstsource Solutions Ltd % Telecom Services 2, % Bharati Airtel Ltd 2, % Textiles - Cotton % Precot Mills Ltd % Textiles - Products 1, % Aditya Birla Nuvo Ltd 1, % Textiles - Synthetic % Sangam India Ltd % Cash, CBLO & Reverse Repo 2, % Other Current Assets 2, % Total Net Assets 85, Top Ten Holdings Quantitative Indicators: Average P/E : 18 Std Dev : 7.27% Average P/BV : 3.08 Sharpe Ratio^ : 0.41 Average Dividend Yield : 4.80 Beta : 0.86 Annual Turnover Ratio : 1.95 times R squared : 0.54 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 19-Aug , , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 &

9 ICICI Prudential Fusion Fund Close-ended Diversified Equity Scheme Style Box Fund Manager : Deven Sangoi Style (Managing this fund since Sept., 2006 & overall 11 yrs of Value Blend Growth Size equity market experience & 5 yrs of fund Large management experience) Indicative Investment Horizon: 5 yrs and more Mid Inception date: Fund Size: Rs crores Small Growth option : Rs Dividend option : Rs Institutional option-i : Rs **Expense Ratio : Retail option : 2.17% Institutional option-i : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Rs invested at inception: Fusion Plan Vs NIFTY Junior 187, , , , ,430 87,430 67,430 47,430 27,430 7,430 CAGR Fusion Fund: 32.56%; Benchmark : 38.33% Past performance may or may not be sustained in future. Performance Record *- Growth Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is ^Nifty Junior Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Sector Allocation* Fusion Fund *Pertains to the equity investments only. NIFTY Junior Index Rs Rs Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct % 41.40% 39.52% 55.99% 38.33% 32.56% Last 6 Months Last 1 year Since Inception Fertilizers Minerals/Mining Auto Consumer Durables Consumer Non-Durable Pesticides Retailing Ferrous Metals Auto Ancillaries Banks Pharmaceuticals Textiles - Products Petroleum Products Industrial Products Industrial Capital Goods Media & Entertainment Construction Software Fusion Fund 0.76% 1.00% 1.40% 1.60% 1.78% 2.54% 3.29% 3.55% NIFTY Junior Index 4.45% 5.32% 7.48% 7.65% 8.58% 8.69% 9.17% 9.20% 9.28% 9.81% 2.00% 4.00% 6.00% 8.00%112.00% Exploit the long-term investment potential of equity Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto 1, % Tata Motors Ltd 1, % Auto Ancillaries 3, % Amtek India Ltd 2, % Enkei Castalloy Ltd % Sundaram Clayton Ltd % Banks 4, % ICICI Bank Ltd 3, % Federal Bank Ltd % Construction 7, % Orbit Corporation Ltd 5, % Unity Infraprojects Ltd 1, % Consumer Durables 1, % K.G. Khosla Compressors Ltd 1, % Consumer Non-Durable 1, % Shree Renuka Sugars Ltd 1, % Synergy Multibase Ltd % Ferrous Metals 2, % Kalyani Steels Ltd 2, % Fertilizers % Kaveri Seed Company Ltd % Industrial Capital Goods 6, % Bharti Shipyard Ltd 2, % Texmaco Ltd 1, % Gujarat Apollo Equipments Ltd 1, % Gei Hamon Industries Ltd % Jyoti Ltd % Industrial Products 6, % Jain Irrigation Systems Ltd 2, % AIA Engineering Ltd 2, % Finolex Cables Ltd 1, % Esab India Ltd 1, % Media & Entertainment 6, % Deccan Chronicle Holdings Ltd 4, % Jagran Prakashan Pvt Ltd 2, % Minerals/Mining % Gujarat NRE Coke Ltd % Pesticides 1, % Rallis India Ltd 1, % Advanta India Ltd % Petroleum Products 6, % Reliance Industries Ltd 6, % Pharmaceuticals 5, % Elder Pharmaceuticals Ltd 2, % Dishman Pharmaceuticals & Chemicals Ltd 1, % Cadila Healthcare Ltd 1, % Torrent Pharmaceuticals Ltd % Retailing 2, % Subhiksha Trading Services Pvt Ltd 2, % Software 7, % Zenith Infotech Ltd 2, % Firstsource Solutions Ltd 1, % Subex Azure Ltd 1, % Geometric Software Solutions Ltd 1, % Megasoft Ltd 1, % Textiles - Products 5, % Aditya Birla Nuvo Ltd 2, % Kewal Kiran Clothing Ltd 2, % Siyaram Silk Mills Ltd % CPs, CDs and Term Deposits % ICICI Bank Ltd % Cash, CBLO & Reverse Repo % Other Current Assets 2, % Total Net Assets 75, Top Ten Holdings Quantitative Indicators: Average P/E : 23 Average P/BV : 3.78 Average Dividend Yield: 2.57 Annual Turnover Ratio: 0.70 times Std Dev : 6.54% Sharpe Ratio^ : 0.29 Beta : 0.79 R squared : 0.70 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. 9

10 ICICI Prudential Discovery Fund Long term investment of funds for capital appreciation Open Ended Diversified Equity Fund following value investment philosophy Style Box Company/Issuer Mkt Value (Rs. Lakh) % to NAV Fund Manager : Sankaran Naren (Managing this fund since Oct., 2005 & over 17 yrs of experience in fund management, equity research, operation etc.) Indicative Investment Horizon: 5 yrs and more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs Institutional option-i : Rs **Expense Ratio : Retail option : 2.15% Institutional option-i : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/ Exit Load & page no. 41 for dividend history) Rs invested at inception: Discovery Fund Vs S & P CNX Nifty 409, , , , , , ,819 59,819 9,819 CAGR Discovery Plan : 42.18%; Benchmark : 50.22% Past performance may or may not be sustained in future. Performance Record *- Growth Option 10 5 *Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Discovery Fund *Pertains to the equity investments only. S&P CNX Nifty Rs Rs Aug-04 Oct-04 Dec-04 Feb-05 Apr-05 Jun-05 Aug-05 Oct-05 Dec-05 Feb-06 Apr-06 Jun-06 Aug-06 Oct-06 Dec-06 Feb-07 Apr-07 Jun-07 Aug-07 Oct % 57.60% 48.81% 50.22% 16.23% 43.71% 42.18% 15.11% Last 6 Months Last 1 years Hardware Fertilizers Oil Media & Entertainment Textiles - Products Industrial Capital Goods Paper Ferrous Metals Textiles - Cotton Software Pesticides Auto Cement Chemicals Auto Ancillaries Pharmaceuticals Banks Industrial Products Consumer Non-Durable Discovery Fund 1.52% 1.98% 2.10% 2.11% 2.38% 2.47% 2.69% 3.53% 3.80% 4.29% 4.66% 4.77% 4.86% 5.58% Last 3 years 6.21% S&P CNX Nifty 8.74% 8.88% 10.77% Since Inception 14.25% 4.00% 8.00% 12.00% 16.00% Fund Manager's Comment The fund maintained an average equity exposure of ~95% during the month, indicating value buying of select stocks at lower levels. The fund has reduced holding in Pharmaceuticals, Software and Telecom. Exposure to Banks, Consumer Non-durables, Ferrous Metals and Industrials is increased. The fund has taken fresh positions in the Oil sector. Auto 2, % Mahindra & Mahindra Ltd 2, % Auto Ancillaries 3, % Apollo Tyres Ltd 1, % Kesoram Industries Ltd 1, % India Nippon Elect Ltd % Banks 5, % ING Vysya Bank Ltd 4, % State Bank of India Ltd % Bank of Baroda Ltd % Cement 2, % Birla Corporation Ltd 1, % Grasim Industries Ltd 1, % Chemicals 3, % India Glycols Ltd 3, % Consumer Non-Durable 8, % Tata Tea Ltd 4, % Ruchi Soya Industries Ltd 3, % Nirma Ltd % Ferrous Metals 2, % Kirloskar Ferrous Industries Ltd 1, % Steel Authority of India Ltd 1, % Fertilizers 1, % Zuari Industries Ltd 1, % Hardware % HCL Infosystems Ltd % Industrial Capital Goods 1, % Bharat Electonics Ltd 1, % Industrial Products 6, % Finolex Cables Ltd 3, % Kirloskar Oil Engines Ltd 2, % MM Forgings Ltd % Media & Entertainment 1, % Deccan Chronicle Holdings Ltd 1, % Oil 1, % Oil & Natural Gas Company Ltd 1, % Paper 1, % JK Paper Ltd % Seshashayee Paper & Boards Ltd % Pesticides 2, % Rallis India Ltd 2, % Pharmaceuticals 5, % Cadila Healthcare Ltd 3, % Aventis Pharma Ltd 1, % FDC Ltd % Software 2, % HCL Technologies Limited-Futures 2, % HOV Services Ltd % Geometric Software Solutions Ltd % HCL Technologies Limited % Textiles - Cotton 2, % Vardhaman Textiles Ltd 2, % Textiles - Products 1, % Raymond Ltd 1, % CPs, CDs and Term Deposits 1, % ICICI Bank Ltd 1, % Cash, CBLO & Reverse Repo 3, % Other Current Assets (1,577.18) -2.68% Total Net Assets 59, Top Ten Holdings Quantitative Indicators: Average P/E : 14 Average P/BV : 2.10 Average Dividend Yield : 4.83 Annual Turnover Ratio : 2.12 times SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % Since Inception 16-Aug-04 40, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2004 & Std Dev : 6.57% Sharpe Ratio^ : 0.41 Beta : 0.78 R squared : 0.54 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off.

11 ICICI Prudential Growth Plan Open Ended Diversified Equity Fund Fund Manager : Deven Sangoi (Managing this fund since Oct., 2005 & overall 11 yrs of equity market experience & 5 yrs of fund management experience) Indicative Investment Horizon: 5 years & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs Institutional option-i : Rs **Expense Ratio : Retail option : 2.26% Institutional option-i : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Growth Plan Vs S & P CNX Nifty 1,408,365 1,208,365 1,008, , , , ,365 8,365 CAGR Growth Plan : 31.84%; Benchmark : 21.50% Past performance may or may not be sustained in future. Performance Record *- Growth Option *Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Growth Plan S&P CNX Nifty Style Box Rs Rs Jul-98 Feb-99 Sep-99 Apr-00 Nov-00 Jun-01 Jan-02 Aug-02 Mar-03 Oct-03 May-04 Dec-04 Jul-05 Feb-06 Sep-06 Apr % 48.45% 53.37% 49.81% 44.34% 48.81% 44.02% 38.04% 31.84% 21.50% Last 6 Months Last 1 year Growth Plan Last 3 years S&P CNX Nifty Last 5 years Since Inception Long term investment of funds for capital appreciation Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto 2, % Maruti Udyog Ltd % Mahindra & Mahindra Ltd % Tata Motors Ltd % Banks 7, % ICICI Bank Ltd 3, % State Bank of India Ltd 2, % HDFC Bank Ltd 1, % Cement 3, % Grasim Industries Ltd 2, % Gujarat Ambuja Cement Ltd 1, % Consumer Non-Durable 1, % ITC Ltd 1, % Asian Paints Ltd % Ferrous Metals 3, % Steel Authority of India Ltd 2, % Tata Steel Ltd-Futures 1, % Industrial Capital Goods 6, % Bharat Heavy Electricals Ltd 2, % Larsen & Toubro Limited 2, % Bharat Electonics Ltd 1, % Industrial Products 1, % Cummins India Ltd 1, % Media & Entertainment 2, % Zee Entertainment Enterprises Ltd 2, % Non-Ferrous Metals 1, % Sterlite Industries India Ltd 1, % Oil 2, % Oil & Natural Gas Company Ltd 2, % Pesticides 1, % United Phosphorus Ltd 1, % Petroleum Products 6, % Reliance Industries Ltd 6, % Pharmaceuticals 1, % Ranbaxy Laboratories Ltd 1, % Power 2, % National Thermal Power Corporation Ltd 1, % Powergrid Corporation Ltd % Software 4, % Satyam Computer Services Ltd 1, % Infosys Technologies Ltd 1, % Tata Consultancy Services Ltd 1, % HCL Technologies Limited % Telecom Services 4, % Bharati Airtel Ltd 2, % Reliance Communications Ventures Ltd 1, % Transportation 1, % Containers Corporation of India Ltd 1, % Cash, CBLO & Reverse Repo 4, % Other Current Assets (1,519.21) -2.72% Total Net Assets 55, Top Ten Holdings Pharmaceuticals 1.87% Industrial Products 1.92% Pesticides 2.07% Consumer Non-Durable 2.12% Transportation 2.16% Non-Ferrous Metals 2.32% Media & Entertainment 3.69% Auto 4.17% Power 4.76% Oil 4.81% Ferrous Metals 6.21% Cement 6.27% Software 7.43% Telecom Services 8.66% Petroleum Products 11.14% Industrial Capital Goods 11.60% Banks 13.08% 4.00% 8.00% 12.00% *Pertains to the equity investments only. Quantitative Indicators: Average P/E : 27 Average P/BV : 5.38 Average Dividend Yield : 0.45 Annual Turnover Ratio : 1.60 times Std Dev : 6.26% Sharpe Ratio^ : 0.51 Beta : 0.95 R squared : 0.89 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 9-Jul , , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & Fund Manager's Comment The fund maintained an average equity exposure of ~94% during the month, indicating value buying at lower levels. Exposure to Auto, Industrial Capital Goods, Oil and Petroleum Products has been increased while that in Banks and Software is reduced. 11

12 ICICI Prudential Infrastructure Fund Open Ended Equity Fund Style Box Fund Manager : Sankaran Naren (Managing this fund since Oct., 2005 & over 17 yrs of experience in fund management, equity research, operation etc.) Indicative Investment Horizon: 5 yrs and more Inception date: Fund Size: Rs. 3, crores Growth option : Rs Dividend option : Rs Institutional option-i : Rs **Expense Ratio : Retail option : 1.89% Institutional option-i : 1.00% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Infrastructure Fund Vs S&P CNX Nifty Infrastructure Fund S&P CNX Nifty CAGR Infrastructure : 7; Benchmark : 51.90% Past performance may or may not be sustained in future. Performance Record *- Growth Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Sector Allocation* *Pertains to the equity investments only. Quantitative Indicators: Average P/E : 25 Average P/BV : 4.62 Average Dividend Yield : 0.96 Annual Turnover Ratio : 1.69 times Std Dev : 8.00% Sharpe Ratio^ : 0.53 Beta : 1.14 R squared : 0.87 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ 359, , , , , ,420 59,420 9, Risk-free rate based on the last 3 month T-Bill cut-off. Rs Rs Aug-05 Oct-05 Dec-05 Feb-06 Apr-06 Jun-06 Aug-06 Oct-06 Dec-06 Feb-07 Apr-07 Jun-07 Aug-07 Oct % 44.34% Last 6 Months Last 1 year Since Inception Infrastructure Fund S&P CNX Nifty Hotels Textiles - Products Dredging Transportation Auto Ancillaries Industrial Products Cement Telecom Services Oil Banks Construction Industrial Capital Goods Petroleum Products Ferrous Metals Power 0.30% 0.91% 0.95% 1.29% 85.33% 2.59% 3.80% 4.23% 57.60% 5.69% 6.07% 6.11% 7.34% 7.99% 8.63% % 51.90% 4.00% 8.00% 12.00% 13.19% SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % Since Inception 31-Aug-05 27, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the years 2005 & Fund Manager's Comment The fund maintained average equity exposure of ~79%, indicating a very cautious stance. The fund has increased exposure to Cement, Ferrous Metals and Industrial Capital Goods while exposure to Banks, Power and Auto is reduced. 12 Long term investment of funds for capital appreciation derived from the growth and development of the infrastructure sector Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto Ancillaries 9, % Kesoram Industries Ltd 9, % Banks 21, % ICICI Bank Ltd 12, % State Bank of India Ltd 6, % Andhra Bank Ltd 2, % Punjab National Bank Ltd % Cement 14, % Grasim Industries Ltd 11, % Century Textiles & Industries Ltd 2, % JK Cements Ltd % Birla Corporation Ltd % Construction 25, % Patel Engineering Ltd 14, % BL Kashyap and Sons Ltd 3, % Nagarjuna Construction Company Ltd 3, % Gammon India Ltd 2, % Jaiprakash Associates Ltd 2, % Dredging 3, % Dredging Corporation of India Ltd 3, % Ferrous Metals 36, % Jindal Steel & Power Company Ltd 26, % Usha Martin Ltd 5, % Welspun Gujarat Stahl Roh Ltd 2, % Adhunik Metaliks Ltd 1, % Hotels 1, % Indian Hotels Company Ltd 1, % Industrial Capital Goods 28, % Larsen & Toubro Limited 19, % Kalpataru Power Transmission Ltd 3, % ABG Heavy Industries Ltd 3, % Larsen & Toubro Limited-Futures 1, % Industrial Products 13, % Cummins India Ltd 9, % Electrosteel Castings Ltd 4, % Oil 21, % Oil & Natural Gas Company Ltd 17, % Oil & Natural Gas Company Ltd-Futures 3, % Hindustan Oil Exploration Ltd 1, % Petroleum Products 30, % Reliance Industries Ltd 30, % Power 46, % National Thermal Power Corporation Ltd 28, % Tata Power Company Limited 11, % Gujarat Industries Power Company Ltd 3, % Tata Power Company Limited-Futures 2, % Telecom Services 20, % Bharati Airtel Ltd 20, % Textiles - Products 3, % Aditya Birla Nuvo Ltd 3, % Transportation 4, % Containers Corporation of India Ltd 4, % CPs, CDs and Term Deposits 24, % ICICI Bank Ltd 14, % Kotak Mahindra Bank Ltd 9, % Cash, CBLO & Reverse Repo 53, % Other Current Assets (4,278.78) -1.20% Total Net Assets 353, Top Ten Holdings

13 ICICI Prudential Services Industries Fund Open Ended Equity Fund Fund Manager : Deven Sangoi (Managing this fund since inception & overall 11 yrs of equity market experience & 5 yrs of fund management experience) Indicative Investment Horizon: 5 yrs. & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : 2.18% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Performance Record *- Growth Option *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Sector Allocation* Style Box Rs invested at inception: Services Industries Fund Vs S&P CNX Nifty 258, , , ,810 58,810 8,810 Services Industries Fund S&P CNX Nifty Rs CAGR Service Industries : 46.94%; Benchmark : 51.73% Past performance may or may not be sustained in future Rs Nov-05 Dec-05 Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct % 44.34% 59.21% 57.60% 51.73% 46.94% Last 6 Months Last 1 year Since Inception Services Industries Fund S&P CNX Nifty Transportation Healthcare Services Auto Ancillaries Industrial Products Power 0.19% 0.73% 2.26% 2.77% 3.31% Long term investment of funds for capital appreciation derived from the growth potential of the service industries sector Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto Ancillaries 1, % Automobile Corporation of Goa Ltd 1, % Sundaram Clayton Ltd % Shivam Autotech Ltd % Banks 12, % ICICI Bank Ltd 5, % HDFC Bank Ltd 3, % State Bank of India Ltd 2, % Bank of Baroda Ltd 1, % Construction 14, % Patel Engineering Ltd 4, % Jaiprakash Associates Ltd 3, % Maytas Infra Ltd 1, % Nagarjuna Construction Company Ltd 1, % BL Kashyap and Sons Ltd 1, % Indiabulls Real Estate Ltd % Orbit Corporation Ltd % Finance 4, % India Infoline Ltd 3, % SREI Infrastructure Finance Ltd 1, % Healthcare Services % Vimta Labs Ltd % Industrial Capital Goods 7, % Bharti Shipyard Ltd 2, % Larsen & Toubro Limited 2, % Bharat Electonics Ltd 1, % Siemens India Ltd % Hindustan Dorr-Oliver Ltd % Industrial Products 2, % Jain Irrigation Systems Ltd 2, % Media & Entertainment 8, % Zee Entertainment Enterprises Ltd 2, % Jagran Prakashan Pvt Ltd 2, % Deccan Chronicle Holdings Ltd 2, % Television Eighteen India Ltd. 1, % Pharmaceuticals 4, % Dishman Pharmaceuticals & Chemicals Ltd 1, % Lupin Ltd 1, % Indoco Remedies Ltd % Glenmark Pharmaceuticals Ltd % Plethico Pharmaceuticals Ltd % Power 2, % PTC India Ltd 1, % Webel SL Energy Ltd % Software 8, % Tata Consultancy Services Ltd 1, % Satyam Computer Services Ltd 1, % Nucleus Software Exports Ltd 1, % NIIT Ltd 1, % Infotech Enterprises Ltd % Financial Technologies Ltd % 3i Infotech Ltd % Geodesic Information Systems Ltd % Telecom Services 6, % Bharati Airtel Ltd 3, % Reliance Communications Ventures Ltd 2, % Avaya Global Connect Ltd % Textiles - Products 4, % Aditya Birla Nuvo Ltd 2, % Gokaldas Exports Ltd 1, % Page Industries Ltd % Transportation % Containers Corporation of India Ltd % Cash, CBLO & Reverse Repo 3, % Other Current Assets % Total Net Assets 83, Top Ten Holdings Pharmaceuticals 5.47% Finance 5.57% Textiles - Products 5.96% Telecom Services 7.97% Industrial Capital Goods 8.56% Software 9.85% Media & Entertainment 10.06% Banks 15.17% Construction 17.27% 4.00% 8.00% 12.00% 16.00% 2 *Pertains to the equity investments only. SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % Since Inception 30-Nov-05 24, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year Quantitative Indicators: Average P/E : 29 Average P/BV : 4.99 Average Dividend Yield : 2.23 Annual Turnover Ratio : 1.41 times Std Dev : 5.98% Sharpe Ratio^ : 0.47 Beta : 0.70 R squared : 0.54 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. Fund Manager's Comment The fund maintained an average equity exposure of ~95% during the month, indicating value buying at lower levels. The fund has increased holding in Construction, Finance and Textile Products while exposure to Banks and Pharmaceuticals is reduced. 13

14 ICICI Prudential FMCG Fund Open Ended FMCG Sectoral Fund Fund Manager : Prashant Kothari (Managing this fund since Oct., 2005 & over 3 yrs of experience as equity analyst & fund manager) Indicative Investment Horizon: 5 yrs & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : 2.50% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: FMCG Vs CNX FMCG Index 605, , , , , ,853 5,853 FMCG Fund CAGR FMCG : 20.21%; Benchmark : 6.85% Past performance may or may not be sustained in future. Performance Record* - Growth Option CNX FMCG Index Style Box Rs Rs Mar-99 Sep-99 Mar-00 Sep-00 Mar-01 Sep-01 Mar-02 Sep-02 Mar-03 Sep-03 Mar-04 Sep-04 Mar-05 Sep-05 Mar-06 Sep-06 Mar-07 Sep-07 Long term investment of funds for capital appreciation in FMCG sector Company/Issuer Mkt Value (Rs. Lakh) % to NAV Consumer Non-Durable 4, % ITC Ltd 1, % Asian Paints Ltd % Pidilite Industries Ltd % Gillette India Ltd % Marico Industries Ltd % Dabur India Ltd % Eveready Industries Ltd % Retailing 1, % Pantaloon Retail (India) Ltd % Vishal Retail Ltd % Trent Ltd % Textiles - Products % Page Industries Ltd % CPs, CDs and Term Deposits % ICICI Bank Ltd % Cash, CBLO & Reverse Repo % Other Current Assets (189.82) -2.55% Total Net Assets 7, Top Ten Holdings % 25.57% 16.81% Last 6 Months Last 1 year FMCG Fund 3.30% 55.61% Last 3 years 33.89% 44.23% Last 5 years CNX FMCG Index 22.90% 20.21% 6.85% Since Inception *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is CNX FMCG Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Textiles - Products 6.14% Quantitative Indicators: Average P/E : 32 Average P/BV : 8.65 Average Dividend Yield : 1.61 Annual Turnover Ratio : 1.19 times Std Dev : 6.44% Sharpe Ratio^ : 0.52 Beta : 0.69 R squared : 0.55 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. Retailing 19.32% Consumer Non- Durable *Pertains to the equity investments only % SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 31-Mar , , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 &

15 ICICI Prudential Technology Fund Open Ended Equity Fund Fund Manager : Nimesh Chandan (Managing this fund since June, 2007 & over 6 yrs of experience in Indian capital markets) Indicative Investment Horizon: 5 yrs & more Inception date: Fund Size: Rs crores Growth option: Rs **Expense Ratio : 2.41% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Rs invested at inception: Technology Fund Vs BSE Tech Index 181, , , , ,177 81,177 61,177 41,177 21,177 1,177 Technology Fund CAGR Technology Fund: 4.86%; Benchmark : -1.56% Past performance may or may not be sustained in future. Performance Record *- Growth Option BSE Tech Index Style Box Rs Rs Mar-00 Aug-00 Jan-01 Jun-01 Nov-01 Apr-02 Sep-02 Feb-03 Jul-03 Dec-03 May-04 Oct-04 Mar-05 Aug-05 Jan-06 Jun-06 Nov-06 Apr-07 Sep % 37.64% 38.83% 34.23% 21.82% 14.48% 6.96% 4.86% -1.56% Last 6 Months Last 1 year Last 3 years Last 5 years Since Inception % Technology Fund BSE Tech Index *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE Tech Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Long term investment of funds for capital appreciation in technology sector Company/Issuer Mkt Value (Rs. Lakh) % to NAV Consultancy % Quality Assurance Institute (I) Ltd % Hardware % Cambridge Solutions Ltd % Industrial Capital Goods % Solectron EMS India Ltd % Solectron Centum Electronics Ltd % Media & Entertainment 1, % Deccan Chronicle Holdings Ltd 1, % Pharmaceuticals 1, % Elder Pharmaceuticals Ltd % Indoco Remedies Ltd % Power % Webel SL Energy Ltd % Software 8, % Allied Digital Services Ltd 1, % Tanla Solutions Ltd 1, % 3i Infotech Ltd % Subex Azure Ltd % Tata Consultancy Services Ltd % Infotech Enterprises Ltd % HCL Technologies Limited % HOV Services Ltd % Firstsource Solutions Ltd % Geodesic Information Systems Ltd % Zenith Infotech Ltd % Megasoft Ltd % Nucleus Software Exports Ltd % Geometric Software Solutions Ltd % Sasken Communications Technologies Ltd % NIIT Ltd % Telecom Services % Avaya Global Connect Ltd % CPs, CDs and Term Deposits % ICICI Bank Ltd % Cash, CBLO & Reverse Repo % Other Current Assets (143.16) -1.11% Total Net Assets 12, Top Ten Holdings Sector Allocation* Consultancy 0.60% Quantitative Indicators: Average P/E : 22 Average P/BV : 3.30 Average Dividend Yield : 2.85 Annual Turnover Ratio : 0.94 times Std Dev : 7.13% Sharpe Ratio^ : 0.30 Beta : 0.91 R squared : 0.53 Hardware 2.03% turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. Power 2.08% ^ Risk-free rate based on the last 3 month T-Bill cut-off. Telecom Services 3.41% Industrial Capital Goods Pharmaceuticals Media & Entertainment 3.98% 8.02% 10.41% SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 3-Mar-00 93, , , % Software 69.13% Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002 and *Pertains to the equity investments only. 15

16 ICICI Prudential Index Fund Open Ended Index Linked Growth Scheme Fund Manager : Yogesh Bhatt (Managing this fund since Oct., 2005 & over 15 yrs of experience as equity dealer) Indicative Investment Horizon: 5 yrs & more Inception date: Fund Size: Rs crores Rs **Expense Ratio : 1.25% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Rs invested at inception: Index Fund Vs S&P CNX Nifty 607, , , , , ,708 7,708 CAGR Index Fund : 34.16%; Benchmark : 32.58% Past performance may or may not be sustained in future. Performance Record *- Cumulative Option Index Fund S&P CNX Nifty *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNX Nifty. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* Index Fund *Pertains to the equity investments only. S&P CNX Nifty Rs Rs Feb-02 Jun-02 Oct-02 Feb-03 Jun-03 Oct-03 Feb-04 Jun-04 Oct-04 Feb-05 Jun-05 Oct-05 Feb-06 Jun-06 Oct-06 Feb-07 Jun-07 Oct % 57.60% 51.72% 45.75% 48.81% 45.45% 44.34% 44.02% 34.16% 32.58% Last 6 Months Media & Entertainment Gas Construction Pharmaceuticals Finance Cement Consumer Non-Durable Auto Non-Ferrous Metals Ferrous Metals Power Oil Banks Software Industrial Capital Goods Telecom Services Petroleum Products Last 1 year 0.40% 0.97% 1.53% 1.95% 2.09% 2.12% 3.14% 3.27% 3.27% Last 3 years 4.87% 7.35% 7.40% Last 5 years 8.91% 9.25% 10.34% 10.44% Since Inception 14.45% 4.00% 8.00% 12.00% 16.00% Long term investment of funds for capital appreciation by replicating S&P CNX Nifty index Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto % Maruti Udyog Ltd % Tata Motors Ltd % Bajaj Auto Ltd % Mahindra & Mahindra Ltd % Hero Honda Ltd % Banks % ICICI Bank Ltd % State Bank of India Ltd % HDFC Bank Ltd % Punjab National Bank Ltd % Cement % Grasim Industries Ltd % Gujarat Ambuja Cement Ltd % Associated Cement Companies Ltd % Construction % Unitech Ltd % Consumer Non-Durable % ITC Ltd % Hindustan Unilever Ltd % Ferrous Metals % Steel Authority of India Ltd % Tata Steel Ltd % Finance % HDFC Ltd % Gas % Gas Authority of India Ltd % Industrial Capital Goods % Bharat Heavy Electricals Ltd % Larsen & Toubro Limited % Suzlon Energy Ltd % ABB Ltd % Siemens India Ltd % Media & Entertainment % Zee Entertainment Enterprises Ltd % Non-Ferrous Metals % Sterlite Industries India Ltd % Hindalco Industries Ltd % National Aluminium Company Ltd % Oil % Oil & Natural Gas Company Ltd % Petroleum Products % Reliance Industries Ltd % Reliance Petroleum Ltd % Bharat Petroleum Corporation Ltd % Hindustan Petroleum Corporation Ltd % Pharmaceuticals % Sun Pharmaceutical Industries Ltd % Ranbaxy Laboratories Ltd % Cipla Ltd % Dr. Reddys Laboratories Ltd % Glaxo Smithkline Pharma Ltd % Power % National Thermal Power Corporation Ltd % Reliance Energy Ltd % Tata Power Company Limited % Software % Infosys Technologies Ltd % Tata Consultancy Services Ltd % Wipro Ltd % Satyam Computer Services Ltd % HCL Technologies Limited % Telecom Services % Bharati Airtel Ltd % Reliance Communications Ventures Ltd % Videsh Sanchar Nigam Ltd % Mahanagar Telephone Nigam Ltd % Nifty Futures % Cash, CBLO & Reverse Repo % Other Current Assets (602.57) % Total Net Assets 2, Top Ten Holdings Quantitative Indicators: Average P/E : 30 Average P/BV : 5.13 Average Dividend Yield : 0.31 Annual Turnover Ratio : 3.00 times Std Dev : 6.27% Sharpe Ratio^ : 0.50 Beta : 1.00 R squared : 1.00 turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 26-Feb-02 70, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 &

17 SPIcE Fund Open Ended Exchange Listed Index Linked Growth Fund Fund Manager : Yogesh Bhatt (Managing this fund since Oct., 2005 & over 15 yrs of experience as equity dealer) Investment Horizon: 5 years & more Inception date: Fund Size: Rs crores Rs **Expense Ratio : 0.80% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Rs invested at inception: SPICE Vs BSE Sensitive Index 708, , , , , , ,655 8,655 CAGR SPIcE Fund : 45.31%; Benchmark : 44.68% Past performance may or may not be sustained in future. Performance Record* - Growth Option *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE SENSEX Index.For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* SPIcE Fund BSE SENSEX Rs Rs Jan-03 Apr-03 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct % 51.68% 42.29% 53.05% 51.68% 43.00% Last 6 Last 1 year Last 3 years Months SPIcE Fund BSE SENSEX Non-Ferrous Metals Pharmaceuticals Ferrous Metals Cement 1.24% 2.06% 3.41% 3.82% 45.31% 44.68% Since Inception Long term investment of funds for capital appreciation by replicating the BSE Sensitive Index Company/Issuer Mkt Value (Rs. Lakh) % to NAV Auto % Tata Motors Ltd % Bajaj Auto Ltd % Mahindra & Mahindra Ltd % Maruti Udyog Ltd % Banks % ICICI Bank Ltd % State Bank of India Ltd % HDFC Bank Ltd % Cement % Grasim Industries Ltd % Gujarat Ambuja Cement Ltd % Associated Cement Companies Ltd % Consumer Non-Durable % ITC Ltd % Hindustan Unilever Ltd % Ferrous Metals % Tata Steel Ltd % Finance % HDFC Ltd % Industrial Capital Goods % Larsen & Toubro Limited % Bharat Heavy Electricals Ltd % Non-Ferrous Metals % Hindalco Industries Ltd % Oil % Oil & Natural Gas Company Ltd % Petroleum Products % Reliance Industries Ltd % Pharmaceuticals % Ranbaxy Laboratories Ltd % Cipla Ltd % Dr. Reddys Laboratories Ltd % Power % Reliance Energy Ltd % National Thermal Power Corporation Ltd % Software % Infosys Technologies Ltd % Satyam Computer Services Ltd % Tata Consultancy Services Ltd % Wipro Ltd % Telecom Services % Bharati Airtel Ltd % Reliance Communications Ventures Ltd % Cash, CBLO & Reverse Repo % Other Current Assets (4.14) -3.81% Total Net Assets Top Ten Holdings Oil 3.93% Power 4.38% Auto 4.58% Quantitative Indicators: Finance Consumer Non-Durable 5.00% 5.17% Average P/E : 27 Average P/BV : 5.22 Average Dividend Yield : 0.29 Annual Turnover Ratio : 0.49 times Std Dev : 5.89% Sharpe Ratio^ : 0.53 Beta : 0.98 R squared : 1.00 Telecom Services Industrial Capital Goods Software 9.01% 11.36% 11.40% turnover has been computed as the ratio of the higher value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. ^ Risk-free rate based on the last 3 month T-Bill cut-off. Petroleum Products Banks 14.90% 17.20% 4.00% 8.00% 12.00% 16.00% 2 *Pertains to the equity investments only. 17

18 ICICI Prudential Monthly Income Plan (An open ended fund. Monthly income is not assured and is subject to the availability of distributable surplus.) Fund Managers: Equity : Prashant Kothari (Managing this fund since Sept., 2006 & over 3 yrs of experience as equity analyst & fund manager) Debt : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: 1 yr & above Inception date: Fund Size: Rs crores Cumulative option : Rs **Expense Ratio : 1.95% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Style Box: Debt Equity Rs invested at inception*: MIP Vs Crisil MIP Blended Index 189, , , , ,823 89,823 69,823 49,823 29,823 9,823 Monthly Income Plan *Benchmark start date : CAGR MIP: 10.65%; Benchmark : 9.98%. Benchmark is Crisil MIP Blended Index. Past performance may or may not be sustained in future. Performance Record* - Cumulative Option 14.00% 12.00% % 6.00% 4.00% 2.00% *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIP Blended Index. Start date: 31/3/02. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile (as % of debt holding) Rating Profile (as % of debt holding) Rs Crisil MIP Blended index Rs Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug % 10.30% 11.70% 11.92% 10.87% 11.13% 10.59% 11.02% 8.56% Last 6 Last 1 Months year Monthly Income Plan <182 days Other Current Assets 3-5 years 1-3 years > 10 years 5-10 years 1.99% 2.88% Last 3 Last 5 Since years years Inception Crisil MIP Blended index 18.55% 21.96% 24.41% AAA and Equivalent 47.24% 30.21% 7.00% 14.00% 21.00% 28.00% 35.00% Sovereign Securities 49.65% Call,Current Assets and Reverse Repos 3.11% Quantitative Indicators Debt Component Average Maturity : 9.29 years Modified Duration : 7.91 years Yield To Maturity : 8.40% % Unlisted Bonds : 18 Medium term investment in a portfolio of debt and equity (upto 15%) for capital appreciation. Company/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV Equity Holdings 8, % ICICI Bank Ltd Banks % Reliance Industries Ltd Petroleum Products % Larsen & Toubro Limited Industrial Capital Goods % Bharati Airtel Ltd Telecom Services % Pantaloon Retail (India) Ltd Retailing % Deccan Chronicle Holdings Ltd Media & Entertainment % Patel Engineering Ltd Construction % Tata Consultancy Services Ltd Software % Grasim Industries Ltd Cement % Siemens India Ltd Industrial Capital Goods % Cadila Healthcare Ltd Pharmaceuticals % IVRCL Infrastructure & Projects Ltd Construction % Dr. Reddys Laboratories Ltd Pharmaceuticals % H.E.G. Ltd Industrial Products % Tata Power Company Limited Power % 3i Infotech Ltd Software % Aditya Birla Nuvo Ltd Textiles - Products % Bharat Heavy Electricals Ltd Industrial Capital Goods % Bank of Baroda Ltd Banks % ITC Ltd Consumer Non-Durable % Gujarat Apollo Equipments Ltd Industrial Capital Goods % Ahluwalia Contractors Ltd Construction % Federal Bank Ltd Banks % Asian Granito India Ltd Consumer Durables % Infosys Technologies Ltd Software % Firstsource Solutions Ltd Software % Steel Authority of India Ltd Ferrous Metals % Tata Steel Ltd-Futures Ferrous Metals % ABB Ltd Industrial Capital Goods % Solectron EMS India Ltd Industrial Capital Goods % Solectron Centum Electronics Ltd Industrial Capital Goods % ABG Heavy Industries Ltd Industrial Capital Goods % Debt Holdings 46, % PSU/PFI Bonds 16, % Power Finance Corporation Ltd AAA 4, % State Bank of India Ltd AAA 4, % Nabard AAA 3, % Infrastructure Development Finance Corp. AAA 2, % Export Import Bank of India Ltd AAA % Indian Railway Finance Corporation AAA % Powergrid Corporation Ltd AAA % Private Corporate Securities 6, % PTC RPS Tata Teleservices AAA(SO) 1, % PTC Hero Motors Ltd A1+(SO) 1, % LIC Housing Finance Ltd AAA 1, % Axis Bank Ltd AAA % Tata Sons Ltd AAA % PTC Citi Fleet Trust Citibank AAA(SO) % HDFC Ltd AAA % India Infrastructure Developers Ltd A1+(SO) % Government Securities 23, % 8.33% GOI 2036 Sovereign 6, % 7.27% GOI 2013 Sovereign 5, % 7.49% GOI 2017 Sovereign 4, % 5.87% GOI 2010 Sovereign 2, % 5.48% GOI 2009 Sovereign 2, % 7.99% GOI 2017 Sovereign 2, % 7.95% GOI 2032 Sovereign % CPs, CDs and Term Deposits % National Housing Bank Ltd P % ICICI Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets 1, % Total Net Assets 56, Top Five Holdings Quantitative Indicators Equity Component Average P/E : 26 Average P/BV : 4.82 Average Dividend Yield : 0.81 SIP Returns: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 10-Nov-00 85, , , % Past performance may or may not be sustained in future. Assume Rs invested every month.

19 ICICI Prudential Income Multiplier Fund (An open ended debt fund which invest upto 30% in equity) Fund Managers : Equity : Prashant Kothari (Managing this fund since Oct., 2005 & over 3 yrs of experience as equity analyst & fund manager) Debt : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: 1 yr & above Inception date: Fund Size: Rs crores Cumulative option: Rs Dividend option: Rs **Expense Ratio : 2.03% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Style Box: Debt Equity Rs invested at inception: IMF Vs Crisil MIP Blended Index 169, , , ,444 89,444 69,444 49,444 29,444 9,444 CAGR Income Multiplier Fund : 13.92%; Benchmark : 8.67% Benchmark is Crisil MIP Blended Index. Past performance may or may not be sustained in future. Performance Record* - Cumulative option 18.00% 16.00% 14.00% 12.00% % 6.00% 4.00% 2.00% Income Multiplier *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIP Blended Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile (as % of debt holdings) Rating Profile (as % of debt holdings) Rs Crisil MIP Blended index Rs Apr-04 Jun-04 Aug-04 Oct-04 Dec-04 Feb-05 Apr-05 Jun-05 Aug-05 Oct-05 Dec-05 Feb-06 Apr-06 Jun-06 Aug-06 Oct-06 Dec-06 Feb-07 Apr-07 Jun-07 Aug-07 Oct % 15.99% 13.92% 10.30% 12.94% % 8.67% Last 6 Months Income Multiplier 182 days - 1 year Other Current Assets <182 days 3-5 years > 10 years 5-10 years 1-3 years Sovereign Securities 52.31% 0.06% 1.29% Last 1 year Last 3 years Since Inception 6.70% Crisil MIP Blended index 10.73% 15.39% 32.52% 33.30% AAA and Equivalent 43.46% Call,Current Assets and Reverse Repos 4.23% Quantitative Indicators Debt Component Average Maturity : 7.07 years Modified Duration : 5.86 years Yield To Maturity : 8.19% % Unlisted Bonds : 0.05% Sector Allocation (as % of the equity portfolio)* SIP Returns As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % Since Inception 30-Mar-04 45, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. 19 Medium term investment in a portfolio of debt and equity (upto 30%) for capital appreciation. Company/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV Equity Holdings 10, % ICICI Bank Ltd Banks % Larsen & Toubro Limited Industrial Capital Goods % Bharati Airtel Ltd Telecom Services % Tata Consultancy Services Ltd Software % Blue Star Ltd Consumer Durables % Pantaloon Retail (India) Ltd Retailing % Siemens India Ltd Industrial Capital Goods % Cadila Healthcare Ltd Pharmaceuticals % Finolex Cables Ltd Industrial Products % Grasim Industries Ltd Cement % Reliance Industries Ltd Petroleum Products % IVRCL Infrastructure & Projects Ltd Construction % Karur Vysya Bank Ltd Banks % Megasoft Ltd Software % Vimta Labs Ltd Healthcare Services % Madras Cements Ltd Cement % Aditya Birla Nuvo Ltd Textiles - Products % Bank of Baroda Ltd Banks % Tata Power Company Limited Power % Marico Industries Ltd Consumer Non-Durable % Bharat Heavy Electricals Ltd Industrial Capital Goods % Subros Ltd Auto Ancillaries % Page Industries Ltd Textiles - Products % Ahluwalia Contractors Ltd Construction % FDC Ltd Pharmaceuticals % NIIT Ltd Software % Infosys Technologies Ltd Software % Steel Authority of India Ltd Ferrous Metals % Zee Entertainment Enterprises Ltd Media & Entertainment % ABB Ltd Industrial Capital Goods % Federal Bank Ltd Banks % Tata Steel Ltd-Futures Ferrous Metals % ABG Heavy Industries Ltd Industrial Capital Goods % Debt Holdings 31, % PSU/PFI Bonds 5, % Export Import Bank of India Ltd AAA 1, % State Bank of India Ltd AAA 1, % Infrastructure Development Finance Corp. AAA 1, % Indian Railway Finance Corporation AAA % Private Corporate Securities 6, % CitiFinancial Consumer Finance India Ltd AAA 2, % Tata Sons Ltd AAA 1, % LIC Housing Finance Ltd AAA 1, % PTC Hero Motors Ltd A1+(SO) 1, % PTC RPS Tata Teleservices AAA(SO) % Grasim Industries Ltd AAA % Rabo India Finance Ltd AAA % Government Securities 16, % 7.27% GOI 2013 Sovereign 3, % 7.49% GOI 2017 Sovereign 2, % 7.99% GOI 2017 Sovereign 2, % 5.48% GOI 2009 Sovereign 2, % 5.87% GOI 2010 Sovereign 2, % 8.33% GOI 2036 Sovereign 1, % 7.95% GOI 2032 Sovereign % 8.15% GOI 2022 Sovereign % CPs, CDs and Term Deposits 1, % Rabo India Finance Ltd P % ICICI Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 42, Top Five Holdings Media & Entertainment Ferrous Metals Auto Ancillaries Consumer Non-Durable Power Healthcare Services Petroleum Products Industrial Products Construction Retailing Consumer Durables Textiles - Products Pharmaceuticals Cement Telecom Services Software Banks Industrial Capital Goods *Pertains to the equity positions only. 1.06% 2.08% 2.33% 2.40% 2.49% 2.89% 3.05% 3.42% 4.77% 4.80% 4.85% 4.85% 5.57% 5.95% 7.46% Quantitative Indicators Equity Component Average P/E : 25 Average P/BV : 4.16 Average Dividend Yield : % 15.14% 15.80% 4.00% 8.00% 12.00% 16.00%

20 ICICI Prudential Child Care Plan (Gift) (An Open Ended Fund) 31st Aug, 2004 Fund Managers: Equity : Munzal Shah (Managing this fund since June, 2007 & over 6 yrs of experience as equity research analyst in mid-cap space) Debt : Pankaj Kaji (Managing this fund since Oct., 2005 & over 35 yrs of experience in debt market) Indicative Investment Horizon: 6-17 yrs Inception date: Fund Size: Rs crores NAV (As on 31-Oct-2007) : Rs **Expense Ratio : 2.06% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Style Box Debt Equity Rs invested at inception*: CCP - Gift Vs Crisil Balanced Fund Index 608, ,986 Rs , , ,986 Rs ,986 8,986 Child Care Gift *Benchmark start date CAGR CCP - Gift : 32.76%; Benchmark : 23.34%. Past performance may or may not be sustained in future. Performance Record *- Cumulative Option % % % % % Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug-07 *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Balanced Fund Index and start date For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile (as % of debt holding) Rating Profile (as % of debt holding) Crisil Balanced Fund Index 45.38% 37.86% 39.26% 35.32% 37.54% 31.80% 29.56% 30.98% 28.44% Last 6 Months Child Care Gift 3-5 years Other Current Assets <182 days 182 days - 1 year Call,Current Assets and Reverse Repos 14.27% Last 1 year 0.91% Last 3 years Last 5 years Crisil Balanced Fund Index 12.96% 41.52% 44.61% A and Equivalent 0.91% AAA and Equivalent 84.82% Since Inception Sector Allocation* (as % of equity portfolio) SIP Returns As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 31-Aug-01 75, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & For your child between 1-13 years and seeking to save over a long term horizon Company/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV Equity Holdings 13, % Ahluwalia Contractors Ltd Construction % Peninsula Land Ltd Construction % Reliance Industries Ltd Petroleum Products % NIIT Ltd Software % Federal Bank Ltd Banks % Provogue (India) Ltd Textiles - Products % Sintex Industries Ltd Industrial Products % Asian Paints Ltd Consumer Non-Durable % Ceat Ltd Auto Ancillaries % ICICI Bank Ltd Banks % Jaiprakash Associates Ltd Construction % Orient Paper & Industries Ltd Cement % Karur Vysya Bank Ltd Banks % Aditya Birla Nuvo Ltd Textiles - Products % Kalyani Steels Ltd Ferrous Metals % Phillips Carbon Black Ltd Auto Ancillaries % Rallis India Ltd Pesticides % IVRCL Infrastructure & Projects Ltd Construction % Indoco Remedies Ltd Pharmaceuticals % Elecon Engneering Co Ltd Industrial Capital Goods % Time Technoplast Ltd Chemicals % Gujarat Apollo Equipments Ltd Industrial Capital Goods % 3i Infotech Ltd Software % Megasoft Ltd Software % Forbes Gokak Ltd Consumer Durables % Valecha Engineering Ltd Construction % Vimta Labs Ltd Healthcare Services % Exide Industries Ltd Auto Ancillaries % Thermax Ltd Industrial Capital Goods % Pantaloon Retail (India) Ltd Retailing % Kirloskar Ferrous Industries Ltd Ferrous Metals % Finolex Cables Ltd Industrial Products % WS Industries India Ltd Industrial Capital Goods % ION Exchange India Ltd Industrial Capital Goods % Madras Cements Ltd Cement % Blue Star Ltd Consumer Durables % Voltas Ltd Consumer Durables % Zee Entertainment Enterprises Ltd Media & Entertainment % Subhash Projects & Marketing Ltd Construction % Glenmark Pharmaceuticals Ltd Pharmaceuticals % Apollo Hospitals Enterprises Ltd Healthcare Services % Allied Digital Services Ltd Software % Sundaram Clayton Ltd Auto Ancillaries % Indiabulls Real Estate Ltd Construction % HOV Services Ltd Software % Refex Refrigerants Ltd Consumer Durables % Page Industries Ltd Textiles - Products % Asian Granito India Ltd Consumer Durables % Orbit Corporation Ltd Construction % Rico Auto Industries Ltd Auto Ancillaries % Solectron EMS India Ltd Industrial Capital Goods % Solectron Centum Electronics Ltd Industrial Capital Goods % Entertainment Network India Ltd Media & Entertainment % Gokak Textiles Ltd Textiles - Cotton % Debt Holdings 1, % Private Corporate Securities % DSP Merill Lynch Capital Ltd AAA(SO) % GE Money Financial Services Ltd AAA % Reliance Industries Ltd AAA % PTC IBL Trust IndusInd Bank AAA(SO) % CitiFinancial Consumer Finance India Ltd AAA % Titan Industries Ltd A % CPs, CDs and Term Deposits % ICICI Bank Ltd P % Rabo India Finance Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 14, Top Five Holdings Textiles - Cotton Media & Entertainment Retailing Chemicals Pesticides Healthcare Services Consumer Non-Durable Pharmaceuticals Ferrous Metals Cement Industrial Products Petroleum Products Consumer Durables Textiles - Products Auto Ancillaries Banks Industrial Capital Goods Software Construction *Pertains to the equity positions only. Quantitative Indicators Debt Component Average Maturity : 0.40 year Modified Duration : 0.35 year Yield To Maturity : 9.07% % Unlisted Bonds : 4.56% 0.06% 1.28% 1.56% 1.91% 2.28% 2.78% 3.02% 3.25% 3.85% 3.87% 4.55% 4.68% 5.84% 6.63% 8.25% 8.73% 8.91% 9.25% 19.33% 5.00% % % Quantitative Indicators Equity Component Average P/E : 21 Average P/BV : 3.56 Average Dividend Yield : 3.16

21 ICICI Prudential Child Care Plan (Study) (An Open Ended Fund) Fund Managers: Equity : Munzal Shah (Managing this fund since June, 2007 & over 6 yrs of experience as equity research analyst in mid-cap space) Debt : Pankaj Kaji (Managing this fund since Oct., 2005 & over 35 yrs of experience in debt market) Indicative Investment Horizon: 3-5 yrs Inception date: Fund Size: Rs crores NAV (As on 31-Oct-2007) : Rs **Expense Ratio : 1.50% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Style Box: Debt Rs invested at inception*: CCP - Study Vs Crisil MIP Blended I n d e x 209, ,721 Rs , , , ,721 Rs ,721 69,721 49,721 29,721 9,721 *Benchmark start date CAGR CCP - Study : 13.22%; Benchmark : 9.98%. Past performance may or may not be sustained in future. Performance Record *- Growth Option 18.00% 16.00% 14.00% 12.00% % 6.00% 4.00% 2.00% Equity Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug-07 Child Care Study *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIP Blended Index and start date For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile (as % of debt holding) Crisil MIP Blended index 15.80% 14.73% 14.55% 10.30% 12.94% 13.48% 11.13% 8.78% 10.59% Last 6 Months Last 1 year Child Care Study Other Current Assets 182 days - 1 year 3.56% Last 3 years Last 5 years Crisil MIP Blended index 20.06% Since Inception Quantitative Indicators Debt Component Average Maturity : 2.14 year Modified Duration : 1.79 year Yield To Maturity : 8.21% % Unlisted Bonds : 1.30% For your child between years and on the threshold of higher studies Company/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV Equity Holdings % Bharati Airtel Ltd Telecom Services % Provogue (India) Ltd Textiles - Products % Tanla Solutions Ltd Software % Gillette India Ltd Consumer Non-Durable % Blue Star Ltd Consumer Durables % HOV Services Ltd Software % Exide Industries Ltd Auto Ancillaries % Federal Bank Ltd Banks % ING Vysya Bank Ltd Banks % Marico Industries Ltd Consumer Non-Durable % Karur Vysya Bank Ltd Banks % Asian Paints Ltd Consumer Non-Durable % Firstsource Solutions Ltd Software % Automobile Corporation of Goa Ltd Auto Ancillaries % Refex Refrigerants Ltd Consumer Durables % Debt Holdings 2, % Private Corporate Securities 1, % Rabo India Finance Ltd AAA % Tata Sons Ltd AAA % DSP Merill Lynch Capital Ltd P % GE Money Financial Services Ltd AAA % Reliance Industries Ltd AAA % Trent Ltd AA % PTC TVS Finance AAA(SO) % Government Securities % 7.27% GOI 2013 Sovereign % 5.87% GOI 2010 Sovereign % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 3, Top Five Holdings 5-10 years 20.82% <182 days 22.49% 1-3 years 33.06% Quantitative Indicators Equity Component Average P/E : 27 Average P/BV : 5.17 Average Dividend Yield : 2.63 Rating Profile (as % of debt holding) Sovereign Securities 41.37% Call,Current Assets and Reverse Repos 8.65% AA and Equivalent 1.67% AAA and Equivalent 48.31% SIP Returns As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 31-Aug-01 75, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. Fund Manager's Comment The extending beyond the red portion represents the marginal change in the style of the portfolio. Equity allocation to large cap stocks has been increased to protect capital at current valuations. 21

22 ICICI Prudential Equity & Derivatives Fund Income Optimiser Plan (An Open Ended Equity Fund) Fund Managers: Equity : Yogesh Bhatt (Managing this fund since June, 2007 & over 15 yrs of experience as equity dealer) Debt : Chaitanya Pande (Managing this fund since June, 2007 & over 12 yrs of fund management experience) Inception date: Fund Size: Rs. 1, crores Retail Growth option : Rs Inst. Growth option : Rs Retail Dividend option : Rs **Expense Ratio : Retail Option : 1.50% Inst. Option : 1.20% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Style Box Debt Equity Performance Record *- Retail Growth Option % 8.00% 7.00% 6.00% 5.29% 5.00% 4.00% 3.47% 3.00% 2.00% 1.00% Last 6 Months Equity & Derivatives Fund Income *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Liquid Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Rating Profile (as % of total debt components) Call,Current Assets and Reverse Repos 0.43% Maturity Profile (as % of debt holding) Other Current Assets 1-3 years 5-10 years <182 days -0.03% 5.12% 13.25% Quantitative Indicators Debt Component Average Maturity : 1.58 year Modified Duration : 1.14 year Yield To Maturity : 9.15% % Unlisted Bonds : 9.50% 6.45% Since Inception Crisil Liquid Fund Index AAA and Equivalent 99.57% 81.66% Generate low volatility returns by investing in mix of cash equities, equity derivatives and debt market instruments - relatively more conservative - 65% to 80% in Equity and Equity Derivatives (unhedged exposure limited to 5%) Company/Issuer Sector/Rating Mkt Value % to NAV Mkt Value (Rs. (Rs. Lakh) Lakh) - Futures Equity Holdings 3, % Gokaldas Exports Ltd Textiles - Products 1, % NIIT Ltd Software % Atlas Copco (India) Ltd Consumer Durables % VST Tillers Tractors Ltd Auto % BASF Ltd Chemicals % Equity & Derivative Holdings Reliance Energy Ltd Power 96, , % 10.42% (96,915.03) Reliance Energy Ltd- Futures Reliance Petroleum Ltd Petroleum Products 11, % -13, Reliance Petroleum Ltd- Futures -11, Reliance Industries Ltd Petroleum Products 7, % Reliance Industries Ltd- Futures -7, Punjab National Bank Ltd Banks 6, % Punjab National Bank Ltd- Futures -6, State Bank of India Ltd Banks 6, % State Bank of India Ltd- Futures -6, GMR Infrastructure Ltd Construction 4, % GMR Infrastructure Ltd- Futures -4, Reliance Capital Finance Ltd Finance 4, % Reliance Capital Finance Ltd- Futures -4, Century Textiles & Industries Ltd Cement 3, % Century Textiles & Industries Ltd- Futures -3, Sesa Goa Ltd Ferrous Metals 3, % Sesa Goa Ltd- Futures -3, Reliance Communications Ventures Ltd Telecom Services 3, % Reliance Communications Ventures Ltd- Futures -3, Jindal Steel & Power Company Ltd Ferrous Metals 3, % Jindal Steel & Power Company Ltd- Futures -3, Bank of Baroda Ltd Banks 2, % Bank of Baroda Ltd- Futures -2, Hindalco Industries Ltd Non-Ferrous Metals 1, % Hindalco Industries Ltd- Futures -1, Divis Laboratories Ltd Pharmaceuticals 1, % Divis Laboratories Ltd- Futures -1, Mahanagar Telephone Nigam Ltd Telecom Services 1, % Mahanagar Telephone Nigam Ltd- Futures -1, Financial Technologies Ltd Software 1, % Financial Technologies Ltd- Futures -1, Union Bank of India Ltd Banks 1, % Union Bank of India Ltd- Futures -1, Voltas Ltd Consumer Durables 1, % Voltas Ltd- Futures -1, Powergrid Corporation Ltd Power 1, % Powergrid Corporation Ltd- Futures -1, Ranbaxy Laboratories Ltd Pharmaceuticals 1, % Ranbaxy Laboratories Ltd- Futures -1, Industrial Development Bank of India Banks 1, % Industrial Development Bank of India- Futures -1, Satyam Computer Services Ltd Software 1, % Satyam Computer Services Ltd- Futures -1, Great Eastern Shipping Co. Ltd Transportation 1, % Great Eastern Shipping Co. Ltd- Futures -1, Parsvanath Developers Ltd Construction % Parsvanath Developers Ltd- Futures Deccan Aviation Ltd Transportation % Deccan Aviation Ltd- Futures MphasiS Ltd Software % MphasiS Ltd- Futures i Infotech Ltd Software % 3i Infotech Ltd- Futures NIIT Ltd Software % NIIT Ltd- Futures Housing Development and Infrastructure Ltd Construction % Housing Development and Infrastructure Ltd- Futures New Delhi Television Ltd Media & Entertainment % New Delhi Television Ltd- Futures Pantaloon Retail (India) Ltd Retailing % Pantaloon Retail (India) Ltd- Futures Nagarjuna Construction Company Ltd Construction % Nagarjuna Construction Company Ltd- Futures Praj Industries Ltd Industrial Capital Goods % Praj Industries Ltd- Futures CESC Ltd Power % CESC Ltd- Futures Nicholas Piramal India Limited Pharmaceuticals % Nicholas Piramal India Limited- Futures India Infoline Ltd Finance % India Infoline Ltd- Futures Bombay Dyeing & Manufacturing Co. Ltd Textiles - Products % Bombay Dyeing & Manufacturing Co. Ltd- Futures Gateway Distriparks Ltd Transportation % Gateway Distriparks Ltd- Futures Tata Tea Ltd Consumer Non-Durable % Tata Tea Ltd- Futures Havells India Ltd Textiles - Cotton % Havells India Ltd- Futures Matrix Laboratories Ltd Pharmaceuticals % Matrix Laboratories Ltd- Futures Kotak Mahindra Bank Ltd Banks % Kotak Mahindra Bank Ltd- Futures Tech Mahindra Ltd Software % Tech Mahindra Ltd- Futures Aurobindo Pharma Ltd Pharmaceuticals % Aurobindo Pharma Ltd- Futures Patni Computer Systems Ltd Software % Patni Computer Systems Ltd- Futures Colgate Palmolive (India) Ltd Consumer Non-Durable % Colgate Palmolive (India) Ltd- Futures Bata India Ltd Consumer Non-Durable % Bata India Ltd- Futures Alstom Projects India Ltd Industrial Capital Goods % Alstom Projects India Ltd- Futures Polaris Software Lab Ltd Software % Polaris Software Lab Ltd- Futures SRF Ltd Textiles - Synthetic % SRF Ltd- Futures I-Flex Solutions Ltd Software % I-Flex Solutions Ltd- Futures Bharat Forge Ltd Industrial Products % Bharat Forge Ltd- Futures Debt Holdings 31, % CPs, CDs and Term Deposits 31, % ICICI Bank Ltd P1+ 27, % Canara Bank Ltd P1+ 3, % Other Current Assets (131.23) -0.13% Total Net Assets 130, Top Five Holdings

23 ICICI Prudential Equity & Derivatives Fund Wealth Optimiser Plan (An Open Ended Equity Fund) Fund Managers: Equity : Nimesh Chandan (Managing this fund since June, 2007 & over 6 yrs of experience in Indian capital markets) Debt : Chaitanya Pande (Managing this fund since June, 2007 & over 12 yrs of fund management experience) Inception date: Fund Size: Rs. 1, crores Growth option : Rs Dividend option : Rs **Expense Ratio : 2.02% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Style Box: Debt Performance Record *- Retail Growth Option 35.00% % % % 17.05% Rating Profile (as % of total debt components) Maturity Profile (as % of debt holding) Quantitative Indicators Debt Component Average Maturity : 0.08 year Modified Duration : 0.07 year Yield To Maturity : 6.83% % Unlisted Bonds : Equity 29.56% Last 6 Months Equity & Derivatives Fund Wealth 23.60% 32.49% Since Inception *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Balanced Fund. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Call,Current Assets and Reverse Repos 72.94% 1-3 years Other Current Assets <182 days 2.70% 13.90% Crisil Balanced Fund Index AAA and Equivalent 27.06% 83.40% Quantitative Indicators Equity Component Average P/E : 29 Average P/BV : 4.61 Average Dividend Yield : Generate low volatility returns by investing in mix of cash equities, equity derivatives and debt market instruments - relatively less conservative - 65% to 100% in Equity and Equity Derivatives (unhedged exposure limited to 80%) Company/Issuer Sector/Rating Mkt Value % to NAV Mkt Value (Rs. (Rs. Lakh) Lakh) - Futures Equity Holdings 50, % Reliance Industries Ltd Petroleum Products 6, % Tata Consultancy Services Ltd Software 2, % Larsen & Toubro Limited Industrial Capital Goods 2, % Aditya Birla Nuvo Ltd Textiles - Products 2, % Grasim Industries Ltd Cement 2, % Reliance Communications Ventures Ltd Telecom Services 2, % State Bank of India Ltd Banks 2, % Max India Ltd Industrial Products 1, % Zee Entertainment Enterprises Ltd Media & Entertainment 1, % ICICI Bank Ltd Banks 1, % Bharati Airtel Ltd Telecom Services 1, % Ballarpur Industries Ltd Paper 1, % Oil & Natural Gas Company Ltd Oil 1, % United Phosphorus Ltd Pesticides 1, % Pantaloon Retail (India) Ltd Retailing 1, % Bharat Electonics Ltd Industrial Capital Goods 1, % Nicholas Piramal India Limited Pharmaceuticals 1, % 3i Infotech Ltd Software 1, % Vishal Retail Ltd Retailing 1, % HCL Technologies Limited Software 1, % IVRCL Infrastructure & Projects Ltd Construction 1, % Dr. Reddys Laboratories Ltd Pharmaceuticals % Cummins India Ltd Industrial Products % National Thermal Power Corporation Ltd Power % Pfizer Ltd Pharmaceuticals % Maruti Udyog Ltd Auto % Glenmark Pharmaceuticals Ltd Pharmaceuticals % I-Flex Solutions Ltd Software % Crompton Greaves Ltd Industrial Capital Goods % Cambridge Solutions Ltd Hardware % Lupin Ltd Pharmaceuticals % Infosys Technologies Ltd Software % NIIT Ltd Software % Mahindra & Mahindra Ltd Auto % Gujarat NRE Coke Ltd Minerals/Mining % Apollo Hospitals Enterprises Ltd Healthcare Services % BASF Ltd Chemicals % Equity & Derivative Holdings 22, % (22,942.08) Reliance Communications Ventures Ltd Telecom Services 8, % Reliance Communications Ventures Ltd- Futures -8, Reliance Energy Ltd Power 6, % Reliance Energy Ltd- Futures -6, DLF Ltd Construction 2, % DLF Ltd- Futures -2, Reliance Industries Ltd Petroleum Products 2, % Reliance Industries Ltd- Futures -2, Mahanagar Telephone Nigam Ltd Telecom Services 1, % Mahanagar Telephone Nigam Ltd- Futures -1, Divis Laboratories Ltd Pharmaceuticals % Divis Laboratories Ltd- Futures Bharat Heavy Electricals Ltd Industrial Capital Goods % Bharat Heavy Electricals Ltd- Futures Indian Hotels Company Ltd Hotels % Indian Hotels Company Ltd- Futures GTL Ltd Software % GTL Ltd- Futures Nifty Futures (2,067.57) -1.90% Debt Holdings 31, % Private Corporate Securities 1, % LIC Housing Finance Ltd AAA 1, % CPs, CDs and Term Deposits 9, % ICICI Bank Ltd P1+ 7, % National Housing Bank Ltd P1+ 1, % Cash, CBLO & Reverse Repo 21, % Other Current Assets 5, % Total Net Assets 108,

24 ICICI Prudential Blended Plan A (An Open Ended Fund) Fund Managers : Equity : Yogesh Bhatt (Managing this fund since Sept., 2006 & over 15 yrs of experience as equity dealer) Debt : Chaitanya Pande (Managing this fund since inception & over 12 yrs of fund management experience) Indicative Investment Horizon: 6 months-1 year Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : 1.50% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Performance Record* - Growth Option 12.00% % 6.00% 4.00% 2.00% Blended Plan A 5.05% 4.56% * Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Short Term Bond Fund Index. For Computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Rating Profile (as % of total debt components) Call,Current Assets and Reverse Repos 34.23% Maturity Profile: (as % of total debt components) 182 days - 1 year 3-5 years Other Current Assets <182 days Asset Allocation: (as % of Net Assets) Unhedged Equity Holdings Debt Holdings 29.42% Quantitative Indicators: Average Maturity : 0.25 year Modified Duration : 0.19 year Yield To Maturity : 9.20% % Unlisted Bonds : 1.41% 9.78% 7.46% 8.31% 6.03% Last 6 Months Last 1 year Since Inception 0.01% 4.80% Crisil Short Term Bond Fund Index 13.47% AAA and Equivalent 65.77% 81.71% Hedged Equity Holdings 70.58% Opportunity to enhance returns from a blend of equity & equity arbitrage (atleast 51%) and low volatility returns from a minimum debt exposure of 25% for a short time horizon Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value (Rs. Lakh) (Rs. Lakh)-Futures Equity Holdings 49, % (49,467.08) State Bank of India Ltd Banks 8, % State Bank of India Ltd- Futures -8, Reliance Industries Ltd Petroleum Products 6, Reliance Industries Ltd- Futures -7, Bank of Baroda Ltd Banks 3, % Bank of Baroda Ltd- Futures -3, Punjab National Bank Ltd Banks 2, % Punjab National Bank Ltd- Futures -3, Reliance Natural Resources Ltd Oil 2, % Reliance Natural Resources Ltd- Futures -2, Reliance Energy Ltd Power 1, % Reliance Energy Ltd- Futures -1, Union Bank of India Ltd Banks 1, % Union Bank of India Ltd- Futures -1, Kotak Mahindra Bank Ltd Banks 1, % Kotak Mahindra Bank Ltd- Futures -1, Reliance Communications Ventures Ltd Telecom Services 1, % Reliance Communications Ventures Ltd- Futures -1, Housing Development and Infrastructure Ltd Construction 1, % Housing Development and Infrastructure Ltd- Futures -1, LIC Housing Finance Ltd Finance 1, % LIC Housing Finance Ltd- Futures -1, Industrial Development Finance Corporation Ltd Finance 1, % Industrial Development Finance Corp. Ltd- Futures -1, Mahanagar Telephone Nigam Ltd Telecom Services 1, % Mahanagar Telephone Nigam Ltd- Futures -1, Powergrid Corporation Ltd Power 1, % Powergrid Corporation Ltd- Futures -1, Aditya Birla Nuvo Ltd Textiles - Products 1, % Aditya Birla Nuvo Ltd- Futures -1, Pantaloon Retail (India) Ltd Retailing 1, % Pantaloon Retail (India) Ltd- Futures -1, NIIT Ltd Software 1, % NIIT Ltd- Futures -1, New Delhi Television Ltd Media & Entertainment % New Delhi Television Ltd- Futures Industrial Finance Corporation of India Ltd Finance % Industrial Finance Corporation of India Ltd- Futures Vijaya Bank Banks % Vijaya Bank- Futures Parsvanath Developers Ltd Construction % Parsvanath Developers Ltd- Futures Central Bank of India Banks % Central Bank of India- Futures Aptech Ltd Software % Aptech Ltd- Futures Ranbaxy Laboratories Ltd Pharmaceuticals % Ranbaxy Laboratories Ltd- Futures Essar Oil Ltd Oil % Essar Oil Ltd- Futures Petronet LNG Ltd Gas % Petronet LNG Ltd- Futures GMR Infrastructure Ltd Construction % GMR Infrastructure Ltd- Futures Gujarat Narmada Valley Fertilisers Co. Ltd Fertilizers % Gujarat Narmada Valley Fertilisers Co. Ltd- Futures i Infotech Ltd Software % 3i Infotech Ltd- Futures India Infoline Ltd Finance % India Infoline Ltd- Futures Orchid Chemicals Ltd Pharmaceuticals % Orchid Chemicals Ltd- Futures Mangalore Refineries & Petrochemicals Ltd Petroleum Products % Mangalore Refineries & Petrochemicals Ltd- Futures Yes Bank Banks % Yes Bank- Futures Century Textiles & Industries Ltd Cement % Century Textiles & Industries Ltd- Futures Tech Mahindra Ltd Software % Tech Mahindra Ltd- Futures SRF Ltd Textiles - Synthetic % SRF Ltd- Futures I-Flex Solutions Ltd Software % I-Flex Solutions Ltd- Futures IndusInd Bank Ltd Banks % IndusInd Bank Ltd- Futures Karnataka Bank Ltd Banks % Karnataka Bank Ltd- Futures Polaris Software Lab Ltd Software % Polaris Software Lab Ltd- Futures Chambal Fertilisers & Chemicals Ltd Fertilizers % Chambal Fertilisers & Chemicals Ltd- Futures Shipping Corporation of India Ltd Transportation % Shipping Corporation of India Ltd- Futures Ultratech Cement Company Ltd Cement % Ultratech Cement Company Ltd- Futures Industrial Development Bank of India Banks % Industrial Development Bank of India- Futures Neyveli Lignite Corporation Ltd Power % Neyveli Lignite Corporation Ltd- Futures Voltas Ltd Consumer Durables % Voltas Ltd- Futures Bank of India Banks % Bank of India- Futures Associated Cement Companies Ltd Cement % Associated Cement Companies Ltd- Futures Debt Holdings 17, % PSU/PFI Bonds % Infrastructure Development Finance Corporation AAA % Private Corporate Securities % PTC TVS Finance AAA(SO) % CPs, CDs and Term Deposits 12, % ICICI Bank Ltd P1+ 10, % Rabo India Finance Ltd P % Bajaj Auto Ltd P % Cash, CBLO & Reverse Repo 4, % Other Current Assets 2, % Total Net Assets 69, Top Five Holdings 24

25 ICICI Prudential Blended Plan B (An Open Ended Fund) Fund Managers: Debt : Chaitanya Pande (Managing this fund since inception & over 12 yrs of fund management experience) Equity : Yogesh Bhatt (Managing this fund since Sept., 2006 & over 15 yrs of experience as equity dealer) Indicative Investment Horizon: 6 months-1 year Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : Blended Plan B : 1.50% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Performance Record* - Growth Option % 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 5.05% 5.10% 8.83% 7.46% * Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Short Term Bond Fund Index. For Computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Rating Profile (as % of total debt components) 7.43% 6.03% Last 6 Months Last 1 year Since Inception Blended Plan B Crisil Short Term Bond Fund Index Generate low volaility returns from debt (atleast 51%) along with an opportunity to enhance returns from equity arbitrage (maximum 49%) Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value (Rs. Lakh) (Rs. Lakh)-Futures Equity Holdings 1, % (1,376.36) Union Bank of India Ltd Banks % Union Bank of India Ltd- Futures i Infotech Ltd Software % 3i Infotech Ltd- Futures Reliance Industries Ltd Petroleum Products % Reliance Industries Ltd- Futures Pantaloon Retail (India) Ltd Retailing % Pantaloon Retail (India) Ltd- Futures Jindal Stainless Ltd Ferrous Metals % Jindal Stainless Ltd- Futures Financial Technologies Ltd Software % Financial Technologies Ltd- Futures Debt Holdings 1, % PSU/PFI Bonds % Power Finance Corporation Ltd AAA % Private Corporate Securities % PTC IBL Trust IndusInd Bank AAA(SO) % Tata Sons Ltd AAA % PTC TVS Finance AAA(SO) % CPs, CDs and Term Deposits % ICICI Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 3, Top Five Holdings Call,Current Assets and Reverse Repos 37.35% AAA and Equivalent 62.65% Maturity Profile: (as % of total debt components) Other Current Assets 1-3 years 2.43% 9.68% 182 days - 1 year 33.91% <182 days 53.97% Quantitative Indicators: Average Maturity : 0.40 year Modified Duration : 0.37 year Yield To Maturity : 8.13% % Unlisted Bonds : 25

26 ICICI Prudential Balanced Fund (An Open Ended Balanced Fund) Fund Managers: Equity : Deven Sangoi (Managing this fund since Oct., 2005 & over 11 yrs of equity market experience & 5 yrs of fund management experience) Debt : Pankaj Kaji (Managing this fund since Oct., 2005 & over 35 yrs of experience in debt market) Indicative Investment Horizon: 3 yrs & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : 2.23% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Style Box: Debt Rs invested at inception*: Balanced Fund Vs Crisil Balanced Fund Index 508, , , , , , , , ,986 58,986 8,986 *Benchmark start date CAGR Balanced Fund : 32.19%; Benchmark : 23.34%. Past performance may or may not be sustained in future. Performance Record *- Growth Option % % % % Balanced Fund 37.54% 37.60% 35.26% 30.98% 38.02% 29.56% 28.44% 27.61% 20.50% Last 6 Months Last year 1 Balanced Fund Equity Last 3 years *Returns < 1 Year : Absolute, > = 1Year : CAGR. Benchmark - Crisil Balanced Fund Index and start date For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Sector Allocation* (as % of equity portfolio) *Pertains to the equity investments only. Crisil Balanced Fund Index Last 5 years Rs Rs Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug-07 Consumer Durables Media & Entertainment Chemicals Construction Consumer Non-Durable Hardware Textiles - Products Non-Ferrous Metals Auto Power Ferrous Metals Telecom Services Industrial Capital Goods Cement Software Banks Industrial Products Petroleum Products Crisil Balanced Fund Index 0.60% 1.90% 2.00% 2.04% 2.11% 2.44% 2.49% 2.90% 3.82% 3.95% 6.44% 7.30% 7.49% 8.48% 8.75% 9.41% Since Inception 13.37% 14.53% 4.00% 8.00% 12.00% 16.00% Quantitative Indicators Debt Component Average Maturity : years Modified Duration : 8.44 years Yield To Maturity : 8.56% % Unlisted Bonds : SIP Return: As on 31-Oct-2007 Period SIP Start Date Total Amount Total No. Market Value SIP Invested of Units Returns 1 Year SIP 30-Nov-06 12, , % 3 Year SIP 30-Nov-04 36, , , % 5 Year SIP 29-Nov-02 60, , , % Since Inception 3-Nov-99 97, , , % Past performance may or may not be sustained in future. Assume Rs invested every month. The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & Maturity Profile (as % of debt holding) 26 Medium term investment of funds in a portfolio of equity (minimum) 65% and debt for capital appreciation. Company/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV Equity Holdings 34, % Reliance Industries Ltd Petroleum Products 4, % Jain Irrigation Systems Ltd Industrial Products 1, % Grasim Industries Ltd Cement 1, % Bharat Heavy Electricals Ltd Industrial Capital Goods 1, % Bharati Airtel Ltd Telecom Services 1, % AIA Engineering Ltd Industrial Products 1, % ICICI Bank Ltd Banks 1, % Steel Authority of India Ltd Ferrous Metals 1, % Century Textiles & Industries Ltd Cement 1, % Sterlite Industries India Ltd Non-Ferrous Metals % Tata Steel Ltd-Futures Ferrous Metals % State Bank of India Ltd Banks % Reliance Communications Ventures Ltd Telecom Services % HOV Services Ltd Software % Tata Consultancy Services Ltd Software % Aditya Birla Nuvo Ltd Textiles - Products % CMC Ltd. Hardware % Bharat Electonics Ltd Industrial Capital Goods % Bank of Baroda Ltd Banks % Asian Paints Ltd Consumer Non-Durable % National Thermal Power Corporation Ltd Power % Sterlite Optical Technologies Ltd Industrial Products % Sadbhav Engineering Ltd Construction % Mahindra & Mahindra Ltd Auto % Time Technoplast Ltd Chemicals % Zee Entertainment Enterprises Ltd Media & Entertainment % Powergrid Corporation Ltd Power % Tata Motors Ltd Auto % Infosys Technologies Ltd Software % HCL Technologies Limited Software % Cummins India Ltd Industrial Products % Asian Granito India Ltd Consumer Durables % Refex Refrigerants Ltd Consumer Durables % Debt Holdings 11, % PSU/PFI Bonds 3, % Infrastructure Development Finance Corp. AAA 1, % State Bank of India Ltd AAA 1, % Indian Railway Finance Corporation AAA % Nabard AAA % Private Corporate Securities 2, % LIC Housing Finance Ltd AAA 1, % PTC RPS Tata Teleservices AAA(SO) % Tata Sons Ltd AAA % Government Securities 5, % 7.99% GOI 2017 Sovereign 2, % 7.49% GOI 2017 Sovereign 1, % 8.33% GOI 2036 Sovereign 1, % 7.27% GOI 2013 Sovereign % 7.95% GOI 2032 Sovereign % CPs, CDs and Term Deposits % ICICI Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets (1,476.85) -3.31% Total Net Assets 44, Top Five Holdings Other Current Assets 182 days - 1 year <182 days 1-3 years 3-5 years > 10 years 5-10 years % 0.01% 3.81% Quantitative Indicators Equity Component Average P/E : 27 Average P/BV : 5.04 Average Dividend Yield : % 18.84% 28.92% 52.06%

27 ICICI Prudential Fixed Maturity Plan (A Close Ended Debt Fund) Fund Manager : Chaitanya Pande (Managing these schemes since inception & over 12 yrs of fund management experience) (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Those who have a fixed investment horizon ranging from 1 month to 36 months INVESTMENT HORIZON PORTFOLIO 1 Month to 36 Months Company/Issuer Sector/ Mkt.Value % to Rating (Rs.Lacs) NAV ICICI Prudential FMP Series 37-1 Year Plan A CPs, CDs and Term Deposits 28, % HSBC Ltd F1+ 28, % Cash, CBLO & Reverse Repo % Other Current Assets (4.26) -0.01% Total Net Assets 28, ICICI Prudential FMPSeries Month Plan Private Corporate Securities 6, % DSP Merill Lynch Capital Ltd AAA 1, % CitiFinancial Consumer Finance India Ltd AAA 1, % Sundaram Finance Ltd AAA % GE Money Financial Services Ltd AA % Ultratech Cement Company Ltd AA % Rabo India Finance Ltd AAA % GE Capital Services India Ltd AA % CPs, CDs and Term Deposits % Axis Bank Ltd F % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 7, ICICI Prudential FMP Series Months Plan PSU/PFI Bonds 3, % Indian Railway Finance Corporation AAA 3, % Power Finance Corporation Ltd AAA % Private Corporate Securities 20, % GE Money Financial Services Ltd AAA 4, % Mahindra & Mahindra Financial Services Ltd AA+ 4, % DSP Merill Lynch Capital Ltd AAA(SO) 4, % Citicorp Maruti Finance Ltd AAA 4, % CitiFinancial Consumer Finance India Ltd AAA 1, % Cash, CBLO & Reverse Repo % Other Current Assets 1, % Total Net Assets 25, ICICI Prudential FMP Series 34-1 Year Plan B PSU/PFI Bonds 5, % PTC Power Finance Corporation Ltd AAA 4, % State Bank of India Ltd AAA 1, % Private Corporate Securities 92, % HDFC Ltd AAA 15, % PTC UBL Trust DSP Merrill Lynch Capital Ltd A1+(SO) 12, % HDFC Bank Ltd AAA 12, % Emaar Mgf Land Pvt Ltd A1+(SO) 11, % Cholamandalam Investment & Finance Co. Ltd AA 10, % PTC Kotak Mahindra Bank Ltd. AAA(SO) 9, % PTC KES Loan Trust GECSI A1+(SO) 5, % L&T Finance Ltd A1+(SO) 5, % CitiFinancial Consumer Finance India Ltd AAA 5, % PTC IL & FS Investmart Ltd AAA(SO) 4, % Mahindra & Mahindra Financial Services Ltd AA % CPs, CDs and Term Deposits 38, % State Bank of India Ltd P1+ 9, % HDFC Ltd P1+ 8, % Export Import Bank of India Ltd AAA 7, % Reliance Capital Finance Ltd A1+ 6, % HSBC Ltd F1+ 2, % Birla Home Finance Ltd A1+ 2, % Kotak Mahindra Bank Ltd P1+ 1, % Cholamandalam Investment & Finance Co. Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets 1, % Total Net Assets 137, ICICI Prudential FMPSeries Month Plan A Private Corporate Securities 20, % Rabo India Finance Ltd AAA 5, % Kotak Mahindra Primus Ltd AA 4, % Citicorp Maruti Finance Ltd AAA 3, % PTC UBL Trust DSP Merrill Lynch Capital Ltd F1+ 3, % Pavitravati Greenfields Pvt Ltd Unrated 2, % L&T Finance Ltd AA % Mahindra & Mahindra Financial Services Ltd AA % CPs, CDs and Term Deposits 5, % HDFC Ltd P1+ 3, % Kotak Mahindra Bank Ltd A1+ 2, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 26, ICICI Prudential FMP Series Month Plan B PSU/PFI Bonds 4, % Infrastructure Development Finance Corporation AAA 4, % Private Corporate Securities 54, % HDFC Ltd AAA 17, % Emaar Mgf Land Pvt Ltd A1+(SO) 7, % Mahindra & Mahindra Financial Services Ltd AA+ 7, % PTC UBL Trust DSP Merrill Lynch Capital Ltd A1+(SO) 6, % PTC KES Loan Trust GECSI A1+(SO) 5, % CitiFinancial Consumer Finance India Ltd AAA 5, % GE Money Financial Services Ltd AAA 2, % DSP Merill Lynch Capital Ltd AAA 2, % Pavitravati Greenfields Pvt Ltd Unrated 1, % CPs, CDs and Term Deposits 17, % Export Import Bank of India Ltd AAA 8, % Axis Bank Ltd P1+ 7, % Kotak Mahindra Bank Ltd A % Reliance Capital Finance Ltd A % Cash, CBLO & Reverse Repo % Other Current Assets 2, % Total Net Assets 78, ICICI Prudential Series Months Plan A Private Corporate Securities 11, % Cholamandalam Investment & Finance Co. Ltd AA 2, % PTC ICL Trust TMFL Yes Bank A1+(SO) 1, % Kotak Mahindra Primus Ltd AA 1, % PTC Shriram Transport F1+ 1, % L&T Finance Ltd A1+(SO) 1, % PTC DAS Trust Standard Chartered Bank A1+(SO) 1, % PTC ICL Trust Yes Bank AAA(SO) % Shriram Transport Finance Company Ltd AA % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 12, ICICI Prudential Series Months Plan B Private Corporate Securities 56, % Kotak Mahindra Primus Ltd AA 10, % GE Money Financial Services Ltd AAA 8, % PTC ICL Trust Yes Bank AAA 9, % PTC Shriram Transport AAA 5, % Mahindra & Mahindra Financial Services Ltd AA+ 5, % Shriram Transport Finance Company Ltd AA 3, % PTC DAS Trust Standard Chartered Bank A1+(SO) 3, % PTC VPT Trust SCB AAA 3, % PTC KPI Loan Trust GECSI AAA 2, % PTC KES Loan Trust GECSI A1+(SO) 2, % Cholamandalam Invt. & Finance Co. Ltd AA 2, % L&T Finance Ltd AA+ 1, % Cash, CBLO & Reverse Repo % Other Current Assets 1, % Total Net Assets 57,

28 ICICI Prudential Fixed Maturity Plan (A Close Ended Debt Fund) Those who have a fixed investment horizon ranging from 1 month to 36 months ICICI Prudential FMP Series Months Plan PSU/PFI Bonds 6, % Infrastructure Development Finance Corporation AAA 3, % Nabard P1+ 2, % Private Corporate Securities 15, % HDFC Ltd AAA 4, % DSP Merill Lynch Capital Ltd AAA 4, % Mahindra & Mahindra Financial Services Ltd AA+ 2, % GE Money Financial Services Ltd AAA 2, % PTC DAS Trust Standard Chartered Bank A1+(SO) 2, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 22, ICICI Prudential FMP Series Months Plan B Private Corporate Securities 8, % TML Financial Services Ltd P1+ 1, % CitiFinancial Consumer Finance India Ltd AAA 1, % HDFC Ltd AAA 1, % Cholamandalam Investment & Finance Co. Ltd AA 1, % Citicorp Maruti Finance Ltd AAA 1, % Kotak Mahindra Primus Ltd AA % Sundaram Finance Ltd AA % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 8, ICICI Prudential FMPseries months plan PSU/PFI Bonds 9, % Nabard P1+ 5, % Infrastructure Development Finance Corporation AAA 4, % Private Corporate Securities 32, % Kotak Mahindra Primus Ltd AA 6, % CitiFinancial Consumer Finance India Ltd AAA 5, % GE Capital Services India Ltd AAA 5, % Citicorp Finance (India) Ltd AAA 5, % PTC DAS Trust Standard Chartered Bank A1+(SO) 3, % GE Money Financial Services Ltd AAA 3, % Rabo India Finance Ltd AAA 2, % Sundaram Finance Ltd AAA 1, % Ultratech Cement Company Ltd AA % Citicorp Maruti Finance Ltd AAA % DSP Merill Lynch Capital Ltd AAA(SO) % Cash, CBLO & Reverse Repo % Other Current Assets 2, % Total Net Assets 43, ICICI Prudential FMP Series months plan PSU/PFI Bonds 7, % Nabard P1+ 4, % Infrastructure Development Finance Corporation AAA 3, % Private Corporate Securities 20, % CitiFinancial Consumer Finance India Ltd AAA 5, % DSP Merill Lynch Capital Ltd AAA(SO) 3, % Rabo India Finance Ltd AAA 3, % L&T Finance Ltd AA+ 2, % Citicorp Finance (India) Ltd AAA 2, % GE Capital Services India Ltd AA+ 1, % GE Money Financial Services Ltd AA+ 1, % PTC DAS Trust Standard Chartered Bank A1+(SO) % CPs, CDs and Term Deposits % Reliance Capital Finance Ltd A % Cash, CBLO & Reverse Repo % Other Current Assets 1, % Total Net Assets 30, ICICI Prudential Series 35-1 Year Plan Private Corporate Securities 4, % CitiFinancial Consumer Finance India Ltd AAA(SO) 2, % HDFC Ltd AAA 1, % Citicorp Maruti Finance Ltd AAA % Citicorp Finance (India) Ltd AAA % CPs, CDs and Term Deposits 19, % Kotak Mahindra Bank Ltd P1+ 5, % American Express Bank Ltd P1+ 5, % HSBC Ltd F1+ 5, % Cholamandalam Investment & Finance Co. Ltd P1+ 4, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 24, ICICI Prudential FMP Series 38-1 Year Plan A Private Corporate Securities 8, % PTC Electrosteel Castings Ltd GTL Trust A1+(SO) 3, % Sundaram Finance Ltd A1+ 2, % Kotak Mahindra Primus Ltd AA 2, % CPs, CDs and Term Deposits 15, % Industrial Development Bank of India A1+ 9, % Allahabad Bank Ltd A1+ 3, % IDBI Bank Ltd P1+ 2, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 23, ICICI Prudential FMP Series 38-1 Year Plan B PSU/PFI Bonds % Nabard AAA % Indian Railway Finance Corporation AAA % Private Corporate Securities % Mahindra & Mahindra Financial Services Ltd AA % Sundaram Finance Ltd AA % CPs, CDs and Term Deposits 2, % Tata Sons Ltd P1+ 1, % L&T Finance Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 4, ICICI Prudential FMP Series 38-2 Years Plan Private Corporate Securities 9, % Sundaram Finance Ltd AA+ 1, % HDFC Ltd AAA 1, % Cholamandalam Investment & Finance Co. Ltd AA 1, % Shriram Transport Finance Company Ltd AA 1, % Citicorp Maruti Finance Ltd AAA 1, % Kotak Mahindra Primus Ltd AA 1, % CitiFinancial Consumer Finance India Ltd AAA % TML Financial Services Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 9, ICICI Prudential FMP 34-1 Year Plan A PSU/PFI Bonds % Power Finance Corporation Ltd AAA % Private Corporate Securities 6, % DSP Merill Lynch Capital Ltd P1+ 2, % GE Money Financial Services Ltd AAA 2, % Hindalco Industries Ltd AAA 1, % CPs, CDs and Term Deposits 9, % Jammu & Kashmir Bank Ltd A1+ 5, % Bajaj Auto Ltd P1+ 2, % Axis Bank Ltd P1+ 1, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 16,

29 ICICI Prudential Fixed Maturity Plan (A Close Ended Debt Fund) Those who have a fixed investment horizon ranging from 1 month to 36 months ICICI Prudential FMP Series 39-3 Months Plan A CPs, CDs and Term Deposits 1, % Larsen & Toubro Ltd P1+ 1, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 1, ICICI Prudential FMP Series Months Plan A PSU/PFI Bonds 1, % Nabard AAA 1, % Private Corporate Securities 5, % Kotak Mahindra Primus Ltd AA 1, % Shriram Transport Finance Company Ltd AA 1, % Tata Sons Ltd AAA 1, % PTC Collateralised Debt Trust Series 60 A2 AAA(SO) % LIC Housing Finance Ltd P % GE Money Financial Services Ltd AAA % Cash, CBLO & Reverse Repo 1, % Other Current Assets % Total Net Assets 8, ICICI Prudential FMP Series Months Plan Private Corporate Securities 22, % Shriram Transport Finance Company Ltd AA 4, % Mahindra & Mahindra Financial Services Ltd AA+ 4, % Kotak Mahindra Primus Ltd AA 4, % Cholamandalam Investment & Finance Co. Ltd AA 3, % PTC Collateralised Debt Trust Series 60 A2 AAA(SO) 3, % CitiFinancial Consumer Finance India Ltd AAA % Tata Sons Ltd AAA % Cash, CBLO & Reverse Repo 10, % Other Current Assets % Total Net Assets 32, PERFORMANCE Performance Records for FMP- Retail Growth Plan Scheme Name Date Period NAV Weekly NAV Returns as on 31-Oct-07 ICICI Prudential FMP Series 34-1 Year Plan A 11-Nov-06 Since inception % ICICI Prudential FMP Series Months Plan 25-Nov-06 Since inception % ICICI Prudential FMP Series Months Plan 23-Dec-06 Since inception % ICICI Prudential FMP Series Months Plan 22-Jan-07 Since inception % ICICI Prudential FMP Series Months Plan 27-Feb-07 Since inception % ICICI Prudential FMP Series Months Plan A 9-Mar-07 Since inception % ICICI Prudential FMP Series Months Plan B 16-Mar-07 Since inception % ICICI Prudential FMP Series Months Plan 23-Mar-07 Since inception % ICICI Prudential FMP Series 34-1 Year Plan B 29-Mar-07 Since inception % ICICI Prudential FMP Series 37-1 Year Plan A 30-Mar-07 Since inception % ICICI Prudential FMP Series 35-1 Year Plan 19-Apr-07 Since inception % ICICI Prudential FMP Series 38-1 Year Plan A 18-May-07 Since inception % ICICI Prudential FMP Series Months Plan A 31-May-07 Since inception % ICICI Prudential FMP Series Months Plan B 13-Jul-07 Since inception % ICICI Prudential FMP Series 38-1 Year Plan B 26-Jul-07 Since inception % ICICI Prudential FMP Series 38-2 Years Plan 3-Aug-07 Since inception % ICICI Prudential FMP Series Months Plan B 13-Aug-07 Since inception % ICICI Prudential FMP Series 39-3 Months Plan A 26-Sep-07 Since inception % ICICI Prudential FMP Series Months Plan A 26-Oct-07 Since inception % ICICI Prudential FMP Series Months Plan 19-Oct-07 Since inception % Returns >= 1 Year are CAGR, < 1 Year are Absolute. Note: For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in the future. Fund Size Rs. 6, Crores 29

30 ICICI Prudential Interval Fund (A Debt Oriented Interval Fund) Fund Manager : Chaitanya Pande (Managing these schemes since inception & over 12 yrs of fund management experience) (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Risk averse investors seeking returns on a held to maturity basis. INVESTMENT HORIZON PORTFOLIO 1 Month to 15 Months Company/Issuer Sector/ Mkt.Value % to Rating (Rs.Lacs) NAV ICICI Prudential Interval Fund-Annual Plan I Private Corporate Securities % PTC Collateralised Debt Trust LICHF P1+SO % CPs, CDs and Term Deposits 3, % Reliance Capital Finance Ltd A1+ 2, % Kotak Mahindra Bank Ltd A1+ 1, % First India Credit Corporation Ltd A % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 4, ICICI Prudential Interval Fund-Annual Plan II Private Corporate Securities 19, % PTC Collateralised Debt Trust Series 18 A1 P1+SO 4, % PTC Bharat Securitisation Trust Series A-PO A1+(SO) 4, % PTC Credit Asset Trust Series 19 A3 F1+ 4, % PTC BRPL Trust Series 1 A1+(SO) 3, % Sundaram Finance Ltd P1+ 1, % CitiFinancial Consumer Finance India Ltd AAA 1, % CPs, CDs and Term Deposits 9, % Cholamandalam Investment & Finance Co. Ltd P1+ 4, % First India Credit Corporation Ltd A1+ 4, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 28, ICICI Prudential Interval Fund-Annual Plan III PSU/PFI Bonds 1, % Infrastructure Development Finance Corporation AAA 1, % Private Corporate Securities 4, % PTC Collateralised Debt Trust Series 20 A1 P1+SO 1, % PTC ICLST Series LIV A1+(SO) 1, % HDFC Ltd AAA 1, % CPs, CDs and Term Deposits 4, % ABN Amro Bank Ltd A1+ 2, % Canara Bank Ltd P1+ 2, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 10, ICICI Prudential Interval Fund-Annual Plan IV Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets ICICI Prudential Interval Fund II-Qtrly Int Plan A Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets ICICI Prudential Interval Fund-Qtrly Int Plan I Private Corporate Securities 1, % Cholamandalam Investment & Finance Co. Ltd AA 1, % CPs, CDs and Term Deposits 59, % Kotak Mahindra Bank - Bills Rediscounted Unrated 9, % Industrial Development Bank of India P1+ 9, % Yes Bank F1+ 8, % Allahabad Bank Ltd P1+ 8, % HSBC Ltd F1+ 7, % UCO Bank P1+ 4, % Jammu & Kashmir Bank Ltd A1+ 4, % Punjab National Bank Ltd P1+ 4, % Other Current Assets 6.84 Total Net Assets 60, ICICI Prudential Interval Fund-Qtrly Int Plan II Private Corporate Securities 3, % United Phosphorus Ltd Unrated 2, % Birla Global Finance Ltd A1+ 1, % CPs, CDs and Term Deposits 30, % Standard Chartered Investment & Loan (India) Ltd P1+ 5, % Indian Hotels Company Ltd P1+ 4, % DSP Merill Lynch Capital Ltd P1+ 4, % Export Import Bank of India Ltd P1+ 4, % Federal Bank Ltd P1+ 3, % Central Bank of India P1+ 3, % State Bank of Hyderabad Ltd P1+ 2, % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 34, ICICI Prudential Interval Fund-Qtrly Int Plan III CPs, CDs and Term Deposits % Bajaj Auto Ltd P % Allahabad Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets (4.33) -1.33% Total Net Assets ICICI Prudential Interval Fund-Half Yearly Plan I CPs, CDs and Term Deposits % Tata Sons Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets ICICI Prudential Interval Fund-Mntly Int Plan I CPs, CDs and Term Deposits % Industrial Development Bank of India P % Cash, CBLO & Reverse Repo % Other Current Assets (1.56) -0.34% Total Net Assets ICICI Prudential Interval Fund-Mntly Int Plan II CPs, CDs and Term Deposits % Allahabad Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets PERFORMANCE Performance Records for Interval Fund - Retail Growth Plan Scheme Name Date Period NAV NAV as on Returns 31-Oct-07 ICICI Prudential Interval Fund - Monthly Interval Plan I 12-May-07 Since inception % ICICI Prudential Interval Fund - Quarterly Interval Plan I 15-May-07 Since inception % ICICI Prudential Interval Fund - Monthly Interval Plan II 26-May-07 Since inception % ICICI Prudential Interval Fund - Quarterly Interval Plan II 15-Jun-07 Since inception % ICICI Prudential Interval Fund - Quarterly Interval Plan III 20-Jul-07 Since inception % ICICI Prudential Interval Fund - Annual Interval Plan I 17-Aug-07 Since inception % ICICI Prudential Interval Fund - Annual Interval Plan II 5-Oct-07 Since inception % ICICI Prudential Interval Fund - Annual Interval Plan III 18-Oct-07 Since inception % ICICI Prudential Interval Fund - Annual Interval Plan IV 26-Oct-07 Since inception % ICICI Prudential Interval Fund - Half Yearly Interval Plan I 12-Oct-07 Since inception % ICICI Prudential Interval Fund II - Quarterly Interval Plan A 24-Oct-07 Since inception % Returns >= 1 Year are CAGR, < 1 Year are Absolute. Note: For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in the future. Fund Size Rs. 1, Crores 30

31 ICICI Prudential Flexible Income Plan (An Open Ended Income Fund) Fund Manager : Rahul Goswami (Managing this fund since Oct., 2005 & over 10 yrs of experience in debt fund management) Indicative Investment Horizon: 1 year & above Inception date: Fund Size: Rs. 6, crores Cumulative option : Rs **Expense Ratio : 0.35% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: FIP Vs Crisil Composite Bond Fund Index 169, , , ,970 89,970 69,970 49,970 29,970 9,970 Flexible Income Plan CAGR Flexible Income Plan : 7.44%; Benchmark : 5.26% Past performance may or may not be sustained in future. Performance Record *- Cumulative Option Style Box Rs Rs Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Crisil Composite Bond Fund Index 9.00% 8.42% 8.00% 6.61% 7.23% 7.44% 7.00% 4.95% 6.04% 6.00% 5.14% 4.08% 5.06% 5.26% 5.00% 4.00% 3.00% 2.00% 1.00% Last 6 Last 1 Last 3 Last 5 Since Months year years years Inception Flexible Income Plan Crisil Composite Bond Fund Index *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Composite Bond Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Medium term investment for returns generated from managing interest rate volatility Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV PSU/PFI Bonds 29, % Indian Oil Corporation Ltd A1+ 12, % Industrial Development Bank of India Canara Bank Ltd AA+ P1+ 9, , % 0.58% Power Finance Corporation Ltd AAA 2, % Union Bank of India Ltd Private Corporate Securities AA 1, , % 23.66% DSP Merill Lynch Capital Ltd P1+ 30, % HDFC Ltd PTC Auto Sec Trust MixpoolA Aug07 TMFL AAA AAA(SO) 22, , % 3.03% CitiFinancial Consumer Finance India Ltd AAA 10, % Citicorp Finance (India) Ltd PTC Shriram Transport AAA F1+ 10, , % 1.33% PTC BRPL Trust Series 1 A1+(SO) 7, % PTC Loan Trust Series II (SCIL) Mahindra & Mahindra Financial Services Ltd F1+ AA+ 6, , % 0.87% PTC Credit Asset Trust Series HSBC F1+ 5, % Mahindra & Mahindra Financial Services Ltd Cholamandalam Investment & Finance Co. Ltd P1+ A1+ 5, , % 0.58% PTC IBL Trust IndusInd Bank AAA(SO) 3, % PTC ICL Trust Birla Home Finance Cholamandalam Investment & Finance Co. Ltd P1+SO P1+ 3, , % 0.36% First India Credit Corporation Ltd A1+ 2, % PTC Auto Sec Trust Mixpool Jun07 TMFL PTC GE Capital Services India Ltd AAA(SO) A1+(SO) 2, , % 0.31% Kotak Mahindra Primus Ltd P1+ 1, % PTC ICLST Series LIV Hindalco Industries Ltd A1+(SO) AAA 1, % 0.14% Grasim Industries Ltd AAA % PTC Citi Fleet Trust Citibank Oscar Investments Ltd AAA(SO) Unrated % 0.10% PTC Collateralised Debt Trust Series 60 A1 AAA(SO) % Reliance Industries Ltd ICICI Bank Ltd AAA AAA % 0.07% PTC Collaterised Debt Trust Series 18 A2 P1+SO % PTC Bharat Securitisation Trust Series A-IO PTC DAS Trust Standard Chartered Bank A1+(SO) A1+(SO) % 0.06% PTC Collateralised Debt Trust Series 18 A1 P1+SO % PTC BRPL Trust Series 9 PTC BRPL Trust Series 11 A1+(SO) A1+(SO) % 0.03% PTC BRPL Trust Series 12 A1+(SO) % PTC BRPL Trust Series 8 PTC BRPL Trust Series 10 A1+(SO) A1+(SO) % 0.03% PTC BRPL Trust Series 13 A1+(SO) % PTC BHPC Tata Motors Treasury Bills AAA(SO) , % 0.97% 182 Day T Bill (MD 12/12/2007) Sovereign 6, % CPs, CDs and Term Deposits HDFC Bank Ltd P1+ 409, , % 11.52% UCO Bank P1+ 57, % ICICI Bank Ltd Syndicate Bank Ltd P1+ P1+ 27, , % 3.61% HDFC Ltd P1+ 24, % Jammu & Kashmir Bank Ltd Punjab National Bank Ltd P1+ AAA 20, , % 2.44% Union Bank of India Ltd P1+ 15, % Yes Bank Allahabad Bank Ltd F1+ P1+ 15, , % 1.67% State Bank of India Ltd P1+ 9, % Indian Bank Ltd GE Capital Transportation Financial Services Ltd F1+ P1+ 9, , % 1.41% Kotak Mahindra Bank Ltd AAA 6, % Jammu & Kashmir Bank Ltd GE Capital Services India Ltd A1+ P1+ 5, , % 0.72% Essel Mining & Industries Ltd A1+ 4, % TML Financial Services Ltd HSBC Ltd P1+ F1+ 4, , % 0.72% Rabo India Finance Ltd P1+ 4, % State Bank of Patiala Ltd Edelweiss Securities Pvt Ltd P1+ P1+ 4, , % 0.67% American Express Bank Ltd P1+ 4, % Canara Bank Ltd Axis Bank Ltd P1+ F1+ 3, , % 0.44% Infrastructure Development Finance Corporation P1+ 2, % Cholamandalam Investment & Finance Co. Ltd Redington India Ltd P1+ P1+ 2, , % 0.36% Gruh Finance Ltd P1+ 2, % Apollo Tyres Ltd State Bank of Mysore Ltd P1+ P1+ 2, , % 0.35% Development Bank of Singapore AAA 2, % Bajaj Auto Ltd GE Money Financial Services Ltd P1+ P1+ 2, , % 0.34% State Bank of Bikaner & Jaipur Ltd P1+ 1, % Axis Bank Ltd Export Import Bank of India Ltd P1+ AAA 1, , % 0.16% UTI Securities Ltd P % Industrial Development Bank of India Cash, CBLO & Reverse Repo P , % 13.68% Other Current Assets (11,790.64) -1.67% Total Net Assets 692, Top Five Holdings Rating Profile Maturity profile: Sovereign Securities 0.97% Call,Current Assets and Reverse Repos 11.97% AA and Equivalent 2.38% Unrated 0.10% AAA and Equivalent 84.58% Other Current Assets 3-5 years 182 days - 1 year 1-3 years -1.70% 3.17% 5.90% 9.42% <182 days 83.21% Quantitative Indicators: Average Maturity : 0.40 year Modified Duration : 0.36 year Yield To Maturity : 8.40% % Unlisted Bonds : 5.66% 31

32 ICICI Prudential Gilt Fund (An Open Ended Gilt Fund) Treasury Plan Fund Manager : Rahul Goswami (Managing this fund since Oct., 2005 & over 10 yrs of experience in debt fund management) Indicative Investment Horizon: 3-6 months Inception date: Fund Size: Rs crores Growth option : Rs Dividend option: Rs **Expense Ratio : 1.10% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception*: Gilt -Treasury Vs I Sec Si Bex Style Box Treasury Plan: Short term deployment of funds in a portfolio of G-Secs with low volatility Investment Plan: Medium term investment in a portfolio of G-Secs for steady returns with market volatility Investment Plan Fund Manager : Rahul Goswami (Managing this fund since Oct., 2005 & over 10 yrs of experience in debt fund management) Indicative Investment Horizon: 1 year & above Inception date: Fund Size: Rs crores Growth option: Rs Dividend option: Rs **Expense Ratio : 1.15% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Gilt - Investment Vs I-Sec I Bex Style Box *Benchmark start date : CAGR Gilt - Treasury : 6.17%; Benchmark : 6.31% Past performance may or may not be sustained in future. Performance Record* - Growth Option (Treasury Plan) *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is I Sec Si Bex. Benchmark start date : For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile: 149, , ,780 89,780 69,780 49,780 29,780 9, % 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% Gilt Treasury I Sec Si Bex Rs Rs Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug % 6.81% 6.22% 4.58% 5.90% 4.56% Last 6 Months Last 1 Last 3 Last 5 year years years Gilt Treasury I Sec Si Bex 6.16% 8.07% 6.02% Since Inception CAGR Gilt - Investment: 11.11%; Benchmark : 11.18%. Past performance may or may not be sustained in future. Performance Record* - Growth Option (Investment Plan) *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is I Bex. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile: 259, , , ,931 59,931 9, % % 6.00% 4.00% 2.00% Gilt Investment I Sec I-Bex Rs Rs Aug-99 Feb-00 Aug-00 Feb-01 Aug-01 Feb-02 Aug-02 Feb-03 Aug-03 Feb-04 Aug-04 Feb-05 Aug-05 Feb-06 Aug-06 Feb-07 Aug % 5.24% Last 6 Months 11.18% 11.11% 8.31% 6.95% 6.81% 7.08% 6.43% 7.01% Last 1 year Gilt Investment Last 3 years Last 5 years I Sec I-Bex Since Inception Other Current Assets 0.52% Other Current Assets 4.12% 5-10 years 13.52% 1-3 years 4.39% 1-3 years 32.07% <182 days > 10 years 5.25% 17.61% <182 days 53.89% 5-10 years 68.63% - Treasury Plan Company/Issuer Rating Mkt Value % to NAV (Rs. Lakh) Government Securities 3, % 5.87% GOI 2010 Sovereign 2, % 7.27% GOI 2013 Sovereign % 5.48% GOI 2009 Sovereign % CPs, CDs and Term Deposits 3, % Kotak Mahindra Bank Ltd P1+ 1, % State Bank of Travancore Ltd P % Canara Bank Ltd P % Allahabad Bank Ltd A % IDBI Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 7, Top Five Holdings Quantitative Indicators: Treasury Plan Average Maturity : 1.66 Year Modified Duration : 1.41 Year Yield To Maturity : 8.89% % Unlisted Bonds : Investment Plan Company/Issuer Rating Mkt Value % to NAV (Rs. Lakh) Government Securities 9, % 7.99% GOI 2017 Sovereign 5, % 7.49% GOI 2017 Sovereign 1, % 7.95% GOI 2032 Sovereign 1, % 5.87% GOI 2010 Sovereign % 6.65% GOI 2009 Sovereign % CPs, CDs and Term Deposits % Allahabad Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 10, Top Five Holdings Quantitative Indicators: Investment Plan Average Maturity : Years Modified Duration : 8.99 Years Yield To Maturity : 7.86% % Unlisted Bonds :

33 ICICI Prudential Gilt Fund PF Option (An Open Ended Gilt Fund) Treasury Plan PF option Fund Manager : Rahul Goswami (Managing this fund since Oct., 2005 & over 10 yrs of experience in debt fund management) Indicative Investment Horizon: 3-6 months Inception date: 11-Feb-04 Fund Size: Rs crores Growth option: Rs **Expense Ratio : 1.50% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Style Box Treasury: Short term deployment of funds in portfolio of G-Secs with low volatility Investment: Medium term investment for steady returns with market volatility Investment Plan PF option Fund Manager : Rahul Goswami (Managing this fund since Oct., 2005 & over 10 yrs of experience in debt fund management) Indicative Investment Horizon: 1 year & above Inception date: 19-Nov-03 Fund Size: Rs crores Growth option: Rs **Expense Ratio : 1.10% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Style Box Rs invested at inception: Gilt -Treasury PF Vs I Sec Si Bex Rs invested at inception: Gilt -Investement PF Vs I Sec Li Bex 129, ,953 89,953 69,953 49,953 29,953 9,953 Absolute Gilt Treasury PF option : 5.07%; Benchmark : 5.59%. Past performance may or may not be sustained in future. Performance Record - Growth option 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% Returns >= 1 Year are CAGR, < Year are Absolute. Benchmark is I-Sec Si Bex Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile: Gilt Treasury-PF I Sec Si Bex Rs Rs Feb-04 Apr-04 Jun-04 Aug-04 Oct-04 Dec-04 Feb-05 Apr-05 Jun-05 Aug-05 Oct-05 Dec-05 Feb-06 Apr-06 Jun-06 Aug-06 Oct-06 Dec-06 Feb-07 Apr-07 Jun-07 Aug-07 Oct % 6.48% 6.22% 4.58% 5.38% 5.59% 5.07% 4.34% Last 6 Months Last 1 year Last 3 years Since Inception Gilt Treasury-PF I Sec Si Bex 149, , ,235 89,235 69,235 49,235 29,235 9,235 Absolute Gilt Investment PF option : 5.81%; Benchmark : 4.09%. Past performance may or may not be sustained in future. Performance Record - Growth option 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% Returns >= 1 Year are CAGR, < Year are Absolute. Benchmark is I-Sec Li Bex Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity profile: Gilt Fund-PF I Sec Li-Bex Rs Rs Nov-03 Jan-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Jan-05 Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07 Mar-07 May-07 Jul-07 Sep % 7.28% 7.05% 7.35% 6.48% 5.85% 5.81% 4.09% Last 6 Months Last 1 year Last 3 years Since Inception Gilt Fund-PF I Sec Li-Bex Other Current Assets -0.03% 1-3 years 0.04% 1-3 years 5.12% Other Current Assets 1.25% 5-10 years <182 days 13.25% 81.66% <182 days > 10 years 5-10 years 3.18% 31.20% 64.33% - Treasury PF Company/Issuer Rating Mkt Value % to NAV (Rs. Lakh) Government Securities % 7.99% GOI 2017 Sovereign % 6.65% GOI 2009 Sovereign % 5.87% GOI 2010 Sovereign % CPs, CDs and Term Deposits 2, % Industrial Development Bank of India P1+ 1, % IDBI Bank Ltd P % Canara Bank Ltd P % Allahabad Bank Ltd A % State Bank of Travancore Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets (1.04) -0.04% Total Net Assets 3, Top Five Holdings Quantitative Indicators: Treasury PF Plan Average Maturity : 1.58 Year Modified Duration : 1.14 Year Yield To Maturity : 9.15% % Unlisted : Investment PF Company/Issuer Rating Mkt Value % to NAV (Rs. Lakh) Government Securities 7, % 7.99% GOI 2017 Sovereign 2, % 7.49% GOI 2017 Sovereign 2, % 7.95% GOI 2032 Sovereign 2, % 5.48% GOI 2009 Sovereign % CPs, CDs and Term Deposits % IDBI Bank Ltd P % Allahabad Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets % Total Net Assets 7, Top Five Holdings Quantitative Indicators: Investment PF Plan Average Maturity : years Modified Duration : years Yield To Maturity : 8.01% %Unlisted :

34 ICICI Prudential Income Plan (An Open Ended Debt Fund) Style Box Fund Manager : Pankaj Kaji (Managing this fund since Oct., 2005 & over 35 yrs of experience in debt market) Indicative Investment Horizon: 1 year & above Inception date: Fund Size: Rs crores Retail Growth option : Rs Institutional Growth option : Rs **Expense Ratio: Income Plan: 2.15% Income Inst. Plan: 1.50% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception*: Income Plan Vs Crisil Composite Bond Fund Index 149, , ,790 89,790 69,790 49,790 29,790 9,790 *Benchmark start date : CAGR Income Plan: 7.44%; Benchmark : 5.26% Past performance may or may not be sustained in future. Performance Record* - Growth Option % 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% Income Plan Crisil Composite Bond Fund Index *Returns < 1 : Absolute, > = 1Year : CAGR. Benchmark - Crisil Composite Bond Fund Index. Start date For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile Income Plan Rs Rs Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug-07 Crisil Composite Bond Fund Index 7.74% 6.06% 6.47% 5.83% 4.95% 6.04% 5.14% 5.06% Last 6 Months Last 1 year Last 3 years Last 5 years 9.34% Since Inception PSU/PFI Bonds 11, % State Bank of India Ltd AAA 3, % Power Finance Corporation Ltd AAA 2, % Infrastructure Development Finance Corporation AAA 1, % Export Import Bank of India Ltd AAA 1, % Nabard AAA 1, % Indian Oil Corporation Ltd AAA % Private Corporate Securities 6, % LIC Housing Finance Ltd AAA 2, % Tata Sons Ltd AAA 2, % Axis Bank Ltd AAA 2, % HDFC Bank Ltd AAA % HDFC Ltd AAA % Government Securities 19, % 7.99% GOI 2017 Sovereign 9, % 7.95% GOI 2032 Sovereign 5, % 5.69% GOI 2018 Sovereign 2, % 7.49% GOI 2017 Sovereign % 5.87% GOI 2010 Sovereign % 8.13% GOI 2021 Sovereign % CPs, CDs and Term Deposits % Union Bank of India Ltd P % Allahabad Bank Ltd P % IDBI Bank Ltd P % Kotak Mahindra Bank Ltd P % Cash, CBLO & Reverse Repo 5, % Other Current Assets (1,381.92) -3.30% Total Net Assets 41, Top Five Holdings Quantitative Indicators Medium term investment for steady returns with market volatility Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV Other Current Assets 182 days - 1 year 1-3 years <182 days 3-5 years -3.33% 0.07% 7.44% 12.62% 18.51% Average Maturity : 9.50 Years Modified Duration : 7.62 Years Yield to Maturity : 8.31% % Unlisted Bonds : > 10 years 27.83% 5-10 years 36.87% Rating Profile Sovereign Securities 46.37% AAA and Equivalent 44.67% Call,Current Assets and Reverse Repos 8.96% 34

35 ICICI Prudential Long Term Plan (An Open Ended Income Fund) Fund Manager : Rahul Goswami (Managing this fund since Oct., 2005 & over 10 yrs of experience in debt fund management) Indicative Investment Horizon: 1 year & more Inception date: Fund Size: Rs crores Growth option : Rs Dividend option : Rs **Expense Ratio : 0.57% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Style Box Medium term investment for steady returns with market volatility Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV PSU/PFI Bonds % Power Finance Corporation Ltd AAA % CPs, CDs and Term Deposits % Kotak Mahindra Bank Ltd P % Cash, CBLO & Reverse Repo % Other Current Assets (29.98) -4.61% Total Net Assets Top Five Holdings Rs invested at inception: Long Term Plan Vs Crisil Composite Bond Fund Index 189, , , , ,857 89,857 69,857 49,857 29,857 9,857 Long Term Plan *Benchmark start date : CAGR Long Term Plan : 9.14%; Benchmark : 5.61% Past performance may or may not be sustained in future. Performance Record *- Growth Option Crisil Composite Bond Fund Index Rs Rs Apr-02 Jul-02 Oct-02 Jan-03 Apr-03 Jul-03 Oct-03 Jan-04 Apr-04 Jul-04 Oct-04 Jan-05 Apr-05 Jul-05 Oct-05 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct % 8.83% 8.50% 9.28% 9.00% 8.00% 7.00% 4.95% 6.04% 6.00% 4.31% 5.14% 5.06% 5.00% 4.00% 3.00% 2.00% 1.00% Last 6 Last 1 Last 3 Last 5 Since Months year years years Inception Long Term Plan Crisil Composite Bond Fund Index *Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is Crisil Composite Bond Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity profile: Other Current Assets -4.62% 182 days - 1 year 0.15% <182 days % Rating Profile Call,Current Assets and Reverse Repos 25.78% Quantitative Indicators: Average Maturity : 0.27 year Modified Duration : 0.25 year Yield To Maturity : 9.10% % Unlisted Bonds : AAA and Equivalent 74.22% Notes to Numbers and Data in the Fact Sheet 1. Yield to maturity, modified duration and average maturity are the weighted average of these numbers, computed for each security in the portfolio, and weighted by the market value of each security to the total market value of the portfolio. 2. Average maturity for PTCs and papers with partial redemptions, are weighted averages of tenor and quantity of cash flows until maturity. 3. Price/Earning Ratio, Price/Book Value Ratio, and Dividend Yield are based on the historical earning numbers, and accounting numbers, and have been sourced from Bloombergâ. They have been computed only for the invested portion of the portfolio. 4. Average days to reset for the Floating rate plan, is the weighted average of the next interest reset date of the floating rate bonds, weighted by their market values. 5. Bank deposits are internally credit rated and posses an internal rating equivalent to AAA. They have been disclosed separately in the credit profile section only in the interest of clarity, so that investors do not presume they are independently credit rated. 6. Other current assets are not included for the purposes of computing portfolio aggregate numbers such as YTM, Modified Duration and average (except in the case of Liquid Plan). **Averages calculated based on monthly expense ratios since Apr For schemes categorised as liquid/having predominantly liquid portfolio, the expense ratios shown are as on the last day of the month. 7. Where the individual holding in a security/issuer is less than 1% of the NAV, such holdings have been aggregated, wherever appropriate, in the interest of clarity. 8. Dividends declared in a scheme have been separately disclosed. 9. All portfolios are common portfolios held under a given scheme, and all return numbers unless otherwise stated, represent the Growth Option. 10. For computing the % of listed securities, instruments which cannot be listed under the existing rules and regulations such as CPs, CDs, CBLOs, Bank FDs, T Bills, and PTCs are excluded from the unlisted category. 11. The standard deviation is used to measure the volatility of returns. 12. Sharpe Ratio is the measure of the risk-adjusted performance. It is calculated by subtracting the risk-free rate from the average rate of return for a portfolio and dividing the result by the standard deviation of the portfolio returns. 13. Beta is the measure of the portfolio s volatility to its respective benchmark. 14. R-squared is a measurement of how closely a portfolio s performance correlates with the performance of benchmark index. A higher R-squared value indicates a more useful beta. 15. The Std. Dev., Sharpe Ratio, Beta & R-squared are based on monthly returns calculated using last 3 years data. 35

36 ICICI Prudential Liquid Plan (An Open Ended Liquid Income Fund) Fund Manager : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: Upto 1month Style Box Inception date: Growth Option: Institutional Option: Institutional Plus Option: Super Institutional Option: Fund Size: Rs. 19, crores Growth option : Rs Institutional Growth option : Rs Institutional Plus Growth option : Rs Super Institutional Growth option : Rs Institutional option-i-growth option: Rs **Expense Ratio: Growth option : 1.00% Inst. option : 0.75% Inst. Plus option : 0.60% Super Inst. option : 0.30% Inst. - I option : 0.35% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception*: Liquid Plan Inst. Plus Vs Crisil LiquidFund Index 149, , ,951 89,951 69,951 49,951 29,951 9,951 Performance Record *- Growth Option Institutional Plus Plan 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% *Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is Crisil Liquid Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile: Rating Profile 7.63% 7.54% 7.51% 7.68% 7.66% 8.11% 6.74% 6.89% 7.41% 6.66% 5.98% 5.95% 5.93% 6.15% 5.39% 3.72% Last 7 days Institutional Plus Plan Crisil Liquid Fund Index Last 15 Last 30 Last 3 Last 6 Last 1 Last 3 days days Months Months Year Years Institutional Plus Plan Crisil Liquid Fund Index Quantitative Indicators: Average Maturity : Days Modified Duration : Days Yield To Maturity : 8.25% % Floating Rate Assets : 27.04% Average days to reset : Days Average maturity of fixed rate component : Days Weighted average maturity : Days % Unlisted Bonds : 5.47% Rs Rs Sep-03 Nov-03 Jan-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Jan-05 Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07 Mar-07 May-07 Jul-07 Sep-07 *Benchmark start date : CAGR Liquid Plan : 6.15%; Benchmark : 5.39% Past performance may or may not be sustained in future. >182 days <182 days Call,Current Assets and Reverse Repos % AA and Equivalent 2.40% Since Inception 85.41% Sovereign Securities 9.04% Unrated 1.36% AAA and Equivalent 77.20% Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV PSU/PFI Bonds 63, % Indian Oil Corporation Ltd A1+ 25, % Nabard P1+ 18, % Infrastructure Development Finance Corporation AAA 10, % Industrial Development Bank of India AA+ 4, % Canara Bank Ltd P1+ 4, % Export Import Bank of India Ltd AAA % Private Corporate Securities 498, % HDFC Ltd AAA 76, % Reliance Capital Finance Ltd A1+ 57, % Tata Sons Ltd AAA 37, % Mahindra & Mahindra Financial Services Ltd AA+ 28, % Mahindra & Mahindra Financial Services Ltd AAA 29, % PTC Credit Asset Trust Series HSBC F1+ 20, % DSP Merill Lynch Capital Ltd P1+ 15, % GE Capital Services India Ltd AAA 15, % CitiFinancial Consumer Finance India Ltd AAA 13, % PTC Collateralised Debt Trust UTI Bank P1+SO 12, % PTC Auto Sec Trust MixpoolA Nov11 TMFL AAA(SO) 10, % GE Money Financial Services Ltd AAA 14, % Citicorp Finance (India) Ltd AAA 10, % Sterlite Industries India Ltd P1+ 10, % PTC Light Trust SCB A1+(SO) 9, % Oscar Investments Ltd Unrated 9, % PTC Auto Sec Trust MixpoolB TMFL AAA(SO) 8, % PTC Collateralised Debt Trust Series 20 A1 P1+SO 7, % PTC VPT Trust SCB AAA 7, % PTC Collateralised Debt Trust LICHF P1+SO 6, % Ranbaxy Holding Company Ltd Unrated 6, % First India Credit Corporation Ltd A1+ 6, % JM Financial & Invest. Consultancy Ser. Pvt. Ltd P1+ 5, % Shriram Transport Finance Company Ltd AA 5, % PTC Credit Asset Trust Indiabulls F1+ 5, % PTC Loan Receivable Trust (Indiabulls) P1+SO 5, % PTC Birla Home Finance GECSI AA(SO) 5, % PTC Shriram Transport F1+ 4, % Emaar Mgf Land Pvt Ltd A1+(SO) 4, % Reliance Industries Ltd AAA 3, % Cholamandalam Investment & Finance Co. Ltd AA (SO) 3, % Usha Martin Ltd P1+ 3, % Kotak Mahindra Primus Ltd AAA 3, % United Phosphorus Ltd Unrated 2, % TGS Investment & Trade Pvt. Ltd. A1+ 2, % Multifaced Finstock Pvt Ltd P1+ 2, % Kotak Mahindra Investment Ltd A1+ 2, % Hero Honda Finlease Ltd P1+ 2, % Gujarat Glass Ltd Unrated 2, % PTC Credit Asset Trust Series 19 A3 F1+ 2, % PTC ICL Trust Birla Home Finance P1+SO 2, % Citicorp Maruti Finance Ltd AAA 2, % Redington India Ltd P1+ 2, % Videsh Sanchar Nigam Ltd P1+ 2, % Hindalco Industries Ltd AAA 1, % Grasim Industries Ltd AAA 1, % Berger Paints India Ltd P1+ 1, % Manaksia Ltd P1+ 1, % Birla Global Finance Ltd A1+ 1, % Kotak Mahindra Capital Co. Ltd P1+ 1, % PTC Collateralised Debt Trust Series 20 A2 P1+SO % PTC DAS Trust Standard Chartered Bank A1+(SO) % PTC Kotak Mahindra Bank Ltd. AAA(SO) % PTC Hero Motors Ltd A1+(SO) % PTC Citi Fleet Trust Citibank AAA(SO) % PTC IL & FS Investmart Ltd AAA(SO) % PTC UBL Trust IndusInd Bank AAA(SO) % PTC BRPL Trust Series 4 A1+(SO) % PTC BRPL Trust Series 5 A1+(SO) % PTC BRPL Trust Series 7 A1+(SO) % PTC BRPL Trust Series 3 A1+(SO) % PTC BRPL Trust Series 6 A1+(SO) % Treasury Bills 171, % 91 Day T Bill (MD 25/01/2008) Sovereign 105, % 182 Day Bill (MD 21/03/2008) Sovereign 25, % 364 Day T Bill (MD 28/03/2008) Sovereign 17, % 182 Day T Bill (MD 12/12/2007) Sovereign 14, % 364 Day Bill (MD 24/10/2008) Sovereign 4, % 364 Day T Bill (MD 07/12/2007) Sovereign 2, % 91 Day T Bill (MD 14/12/2007) Sovereign 1, % CPs, CDs and Term Deposits 977, % UCO Bank AAA 93, % HDFC Bank Ltd P1+ 88, % ING Vysya Bank Ltd P1+ 75, % Allahabad Bank Ltd AAA 62, % ABN Amro Bank Ltd AAA 52, % Punjab National Bank Ltd AAA 51, % Infrastructure Development Finance Corporation P1+ 44, % Jammu & Kashmir Bank Ltd AAA 44, % State Bank of Saurashtra Ltd AAA 41, % Union Bank of India Ltd P1+ 31, % Industrial Development Bank of India P1+ 28, % Kotak Mahindra Bank Ltd P1+ 27, % Yes Bank F1+ 25, % Central Bank of India P1+ 20, % Development Bank of Singapore P1+ 20, % Federal Bank Ltd P1+ 20, % State Bank of Hyderabad Ltd P1+ 19, % State Bank of Indore Ltd P1+ 15, % TML Financial Services Ltd P1+ 15, % Export Import Bank of India Ltd P1+ 14, % HDFC Ltd P1+ 14, % State Bank of India Ltd P1+ 14, % Axis Bank Ltd P1+ 12, % IDBI Bank Ltd P1+ 10, % Allahabad Bank Ltd P1+ 10, % UTI Securities Ltd P1+ 9, % Standard Chartered Investment & Loan (India) Ltd P1+ 8, % Rabo India Finance Ltd P1+ 7, % HSBC Ltd F1+ 7, % Citibank P1+ 7, % GE Capital Transportation Financial Services Ltd P1+ 7, % DSP Merill Lynch Capital Ltd P1+ 7, % IDBI Home Finance Ltd AAA 5, % Aditya Birla Nuvo Ltd A1+ 4, % American Express Bank Ltd P1+ 4, % Ballarpur Industries Ltd F1+ 4, % Kotak Mahindra Bank - Bills Rediscounted Unrated 4, % Canara Bank Ltd P1+ 4, % State Bank of Bikaner & Jaipur Ltd P1+ 4, % Axis Bank Ltd F1+ 3, % Tata Motors Ltd P1+ 3, % Redington India Ltd P1+ 3, % Sundaram Finance Ltd P1+ 2, % GE Money Financial Services Ltd P1+ 2, % Birla Global Finance Ltd A1+ 2, % Citicorp Finance (India) Ltd P1+ 2, % State Bank of Patiala Ltd P1+ 2, % Larsen & Toubro Ltd P1+ 2, % Apollo Tyres Ltd P1+ 1, % Gruh Finance Ltd P1+ 1, % State Bank of Travancore Ltd P1+ 1, % Edelweiss Securities Pvt Ltd P % Tata Sons Ltd P % National Housing Bank Ltd P % Cash, CBLO & Reverse Repo 164, % Other Current Assets 25, % Total Net Assets 1,901, Top Five Holdings 36 Temporary parking of funds with high liquidity

37 ICICI Prudential Floating Rate Plan (An Open Ended Income Fund) Style Box Fund Manager : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: 1-3 months Inception date: Fund Size: Rs. 1, crores Plan A - Cumulative: Rs Plan B - Cumulative: Rs Plan C - Cumulative: Rs Plan D - Cumulative: Rs **Expense Ratio: Plan A %, Plan B %, Plan C %, Plan D % (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Floating Rate Plan B Vs Crisil Liquid Fund Index 149, , ,954 89,954 69,954 49,954 29,954 9,954 CAGR Floating Rate Plan - Plan B : 6.03%; Benchmark : 5.31% Past performance may or may not be sustained in future. Performance Record *- Cumulative Option Plan B 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% *Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is Crisil Liquid Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile >182 days <182 days Floating Rate Plan Crisil Liquid Fund Index Rs Rs Mar-03 May-03 Jul-03 Sep-03 Nov-03 Jan-04 Mar-04 May-04 Jul-04 Sep-04 Nov-04 Jan-05 Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07 Mar-07 May-07 Jul-07 Sep % 7.57% 7.83% 8.04% 7.84% 8.22% 6.66% 5.98% 6.74% 6.89% 7.41% 5.95% 5.93% 6.03% 5.31% 7 days 3.72% days days Months Months Year Floating Rate Plan Crisil Liquid Fund Index 14.62% 3 Years Since Inception 85.38% Quantitative Indicators: Short term deployment of funds Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV PSU/PFI Bonds 3, % Industrial Development Bank of India AA+ 3, % Private Corporate Securities 49, % DSP Merill Lynch Capital Ltd P1+ 20, % HDFC Ltd AAA 10, % PTC Collateralised Debt Trust UTI Bank P1+SO 7, % Oscar Investments Ltd Unrated 5, % Citicorp Finance (India) Ltd AAA 2, % Mahindra & Mahindra Financial Services Ltd AA+ 2, % PTC Auto Sec Trust Mixpool Jun07 TMFL AAA(SO) 1, % PTC Citi Fleet Trust Citibank AAA(SO) % PTC Hero Motors Ltd A1+(SO) % CPs, CDs and Term Deposits 108, % HDFC Bank Ltd P1+ 23, % HDFC Ltd P1+ 22, % Jammu & Kashmir Bank Ltd A1+ 12, % ICICI Bank Ltd P1+ 12, % Punjab National Bank Ltd P1+ 9, % State Bank of Saurashtra Ltd A1+ 9, % Deutsche Bank Ltd P1+ 9, % Axis Bank Ltd P1+ 3, % DSP Merill Lynch Capital Ltd P1+ 2, % Allahabad Bank Ltd P1+ 1, % IDBI Bank Ltd P % Cash, CBLO & Reverse Repo 2, % Other Current Assets 6, % Total Net Assets 170, Top Five Holdings Average Maturity : Days Modified Duration : Days Yield To Maturity : 8.67% % Floating Rate Assets : 19.67% Average days to reset : Days Average maturity of fixed rate component : Days Weighted average maturity : Days % Unlisted Bonds : 2.94% Rating Profile Unrated 2.94% AA and Equivalent 2.94% Call,Current Assets and Reverse Repos 5.40% AAA and Equivalent 88.72% 37

38 ICICI Prudential Short Term Plan (An Open Ended Income Fund) Fund Manager : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: 3-6 months Inception Cumulative Option: date } Institutional Option : Fund Size: Rs crores Cumulative Option : Rs Institutional Option : Rs **Expense Ratio : Short Term Plan : 1.10% Inst. Plan : 0.80% (Please refer to page no. 50 for Investment Objective & Entry/ Exit Load & page no. 41 for dividend history) Rs invested at inception*: STP Vs Crisil Short Term Bond Fund Index 169, , , ,952 89,952 69,952 49,952 29,952 9,952 *Benchmark start date : CAGR Short Term Plan: 6.88%; Benchmark : 5.73% Past performance may or may not be sustained in future. Performance Record* - Cumulative Option % 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% Maturity Profile Short Term Plan Style Box Rs Rs Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug % 5.09% Last 6 Months Short Term Plan Crisil Short Term Bond Fund Index 8.94% 7.46% 7.29% 6.60% 5.90% 7.06% 5.30% Last 1 year Last 3 years Last 5 years Crisil Short Term Bond Fund Index Since Inception *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Short Term Bond Fund Index. Start date: For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. PSU/PFI Bonds 15, % Nabard AAA 8, % Infrastructure Development Finance Corporation AAA 4, % State Bank of India Ltd AAA 2, % Rural Electrification Corporation Ltd AAA % Power Finance Corporation Ltd AAA % Private Corporate Securities 48, % PTC BRPL Trust Series 1 A1+(SO) 12, % HDFC Ltd AAA 7, % PTC Auto Sec Trust Mixpool Jun07 TMFL AAA(SO) 5, % Kotak Mahindra Primus Ltd AA 3, % PTC ICL Trust TMFL Yes Bank AAA 5, % Ranbaxy Holding Company Ltd Unrated 2, % GE Money Financial Services Ltd AAA 1, % Sundaram Finance Ltd AA+ 1, % PTC Electrosteel Castings Ltd GTL Trust A1+(SO) 1, % PTC GE Capital Services India Ltd A1+(SO) 1, % PTC Shriram Transport F % Tata Sons Ltd AAA % Cholamandalam Investment & Finance Co. Ltd AA % L&T Finance Ltd A1+(SO) % CitiFinancial Consumer Finance India Ltd AAA % TML Financial Services Ltd P % Mahindra & Mahindra Financial Services Ltd AA % Shriram Transport Finance Company Ltd AA % PTC Citi Fleet Trust Citibank AAA(SO) % PTC IBL Trust IndusInd Bank AAA(SO) % PTC UBL Trust IndusInd Bank AAA(SO) % Government Securities 9, % 5.48% GOI 2009 Sovereign 3, % 7.27% GOI 2013 Sovereign 2, % 5.87% GOI 2010 Sovereign 2, % CPs, CDs and Term Deposits 17, % ICICI Bank Ltd P1+ 8, % Export Import Bank of India Ltd AAA 6, % Axis Bank Ltd P1+ 3, % IDBI Bank Ltd P % Cash, CBLO & Reverse Repo 6, % Other Current Assets % Total Net Assets 97, Top Five Holdings Quantitative Indicators: Short term deployment of funds with low volatility Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV Other Current Assets 1.00% > 10 years 2.68% 5-10 years 3.53% 3-5 years 7.74% 182 days - 1 year 16.54% <182 days 27.96% 1-3 years 40.56% Average Maturity : 1.99 Year Modified Duration : 1.69 Year Yield To Maturity : 9.26% % Floating Rate Assets : 11.87% Average days to reset : 1.96 Year Average maturity of fixed rate component : 1.96 Year Weighted average maturity : 1.96 Year % Unlisted : 5.68% Rating Profile Sovereign Securities Unrated 2.56% 9.42% AA and Equivalent 6.66% Call,Current Assets and Reverse Repos 7.42% AAA and Equivalent 73.94% 38

39 ICICI Prudential Long Term Floating Rate Plan (An Open Ended Income Fund) Style Box Fund Manager : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: 6-12 months Inception date: 15-Sep-04 Fund Size: Rs crores Plan A - Cumulative: Rs Plan B - Cumulative: Rs **Expense Ratio : Plan A % Plan B % (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Rs invested at inception: Long Term Floating Rate Plan-B Vs Crisil Liquid Fund Index 129, ,951 89,951 69,951 49,951 29,951 9,951 Long Term Floating Rate Plan Rs Rs Sep-04 Nov-04 Jan-05 Mar-05 May-05 Jul-05 Sep-05 Nov-05 Jan-06 Mar-06 May-06 Jul-06 Sep-06 Nov-06 Jan-07 Mar-07 May-07 Jul-07 Sep-07 Crisil Liquid Fund Index CAGR Long Term Floating Rate Plan: 6.62%; Benchmark : 5.84% Past performance may or may not be sustained in future. Performance Record *- Cumulative Option 9.00% 8.09% 8.00% 7.41% 6.68% 6.62% 7.00% 5.93% 5.84% 6.00% 4.21% 5.00% 3.47% 4.00% 3.00% 2.00% 1.00% Last 6 Months Last 1 year Last 3 years Since Inception Long Term Floating Rate Plan Crisil Liquid Fund Index Generate market rate of returns with low volatility Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV PSU/PFI Bonds % Industrial Development Bank of India AA % Power Finance Corporation Ltd AAA % Private Corporate Securities 1, % Ranbaxy Holding Company Ltd Unrated % PTC Shriram Transport F % PTC DAS Trust Standard Chartered Bank A1+(SO) % PTC UBL Trust IndusInd Bank AAA(SO) % CPs, CDs and Term Deposits 3, % IDBI Bank Ltd P1+ 1, % Axis Bank Ltd F1+ 1, % Axis Bank Ltd P % Allahabad Bank Ltd P % Federal Bank Ltd P % Central Bank of India P % Cash, CBLO & Reverse Repo 1, % Other Current Assets % Total Net Assets 7, Top Five Holdings *Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil Liquid Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. 30-Oct-04 & 31-Oct-04 were non business days. Maturity Profile Other Current Assets 1-3 years 182 days - 1 year <182 days 0.46% 14.96% 26.87% 57.70% Quantitative Indicators: Average Maturity : 0.46 Year Modified Duration : 0.41 Year Yield To Maturity : 9.37% % Floating Rate Assets : 39.98% Average days to reset : 0.29 Year Average maturity of fixed rate component : 0.29 Year Weighted average maturity : 0.29 Year % Unlisted Bonds : 11.02% Rating Profile Unrated 11.02% AA and Equivalent 7.57% Call,Current Assets and Reverse Repos 14.38% AAA and Equivalent 67.03% 39

40 ICICI Prudential Sweep Plan (An Open Ended Liquid Fund) Style Box Fund Manager : Chaitanya Pande (Managing this fund since Oct., 2005 & over 12 yrs of fund management experience) Indicative Investment Horizon: One day to one week Inception date: Growth Option: Growth Cash Option: Fund Size: Rs crores Growth option : Rs Cash Option Growth: Rs **Expense Ratio: Growth option: 0.98% Cash Option Growth: 0.40% (Please refer to page no. 50 for Investment Objective & Entry/Exit Load & page no. 41 for dividend history) Temporary parking of funds with high liquidity Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV Private Corporate Securities 1, % Videsh Sanchar Nigam Ltd P % Mahindra & Mahindra Financial Services Ltd P % GE Money Financial Services Ltd P % CPs, CDs and Term Deposits 2, % Industrial Development Bank of India P % Allahabad Bank Ltd P % Axis Bank Ltd P % ABN Amro Bank Ltd A % Cash, CBLO & Reverse Repo 2, % Other Current Assets (17.93) -0.24% Total Net Assets 6, Top Five Holdings Performance* Record - Cash Option - Growth 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 7.95% 7.23% 7.21% 7.52% 7.57% 7.23% 7.41% 7.52% 6.74% 6.89% 6.95% 5.98% 5.95% 3.72% Last 7 days Last Last Last Last Last 15 days 30 days 3 Months 6 Months 1 Year Sweep Crisil Liquid Fund Index Since Inception *Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is Crisil Liquid Fund Index. For computation of returns the allotment NAV has been taken as Rs Past performance may or may not be sustained in future. Maturity Profile: >182 days <182 days Rating Profile Call,Current Assets and Reverse Repos 34.49% Quantitative Indicators: Average Maturity : Days Modified Duration : Days Yield To Maturity : 7.60% % Floating Rate Assets : 56.81% Average days to reset : Days Average maturity of fixed rate component : Days Weighted average maturity : Days % Unlisted Bonds : AAA and Equivalent 65.51% 40

41 ICICI Prudential Advisor Series (Fund of Funds) Fund Manager : Pankaj Kaji (Managing this fund since Oct., 2005 & over 35 yrs of experience in debt market) (Please refer to page no. 50 for Investment Objective & Entry/Exit Load) Customised investment solutions to match risk return profile. - Aggressive Plan Company/Issuer Mkt. Value (Rs. Lakh) % to NAV ICICI Prudential Flexible Income Plan % ICICI Prudential Power Plan % ICICI Prudential Growth Plan % ICICI Prudential Dynamic Plan % ICICI Prudential Emerging S.T.A.R % ICICI Prudential Index Fund % Other Current Assets (4.08) -0.43% Total Net Assets Cautious Plan Company/Issuer Mkt. Value (Rs. Lakh) % to NAV ICICI Prudential Flexible Income Plan % ICICI Prudential Liquid Plan % ICICI Prudential Dynamic Plan % ICICI Prudential Index Fund % ICICI Prudential Growth Plan % ICICI Prudential Emerging S.T.A.R % Other Current Assets % Total Net Assets Moderate Plan Company/Issuer Mkt. Value (Rs. Lakh) % to NAV ICICI Prudential Flexible Income Plan % ICICI Prudential Power Plan % ICICI Prudential Growth Plan % ICICI Prudential Emerging S.T.A.R % ICICI Prudential Index Fund % ICICI Prudential Dynamic Plan % ICICI Prudential Liquid Plan % Other Current Assets % Total Net Assets Very Aggressive Plan Company/Issuer Mkt. Value(Rs. Lakh) % to NAV ICICI Prudential Power Plan ICICI Prudential Growth Plan % ICICI Prudential Emerging S.T.A.R % ICICI Prudential Dynamic Plan % ICICI Prudential Flexible Income Plan % ICICI Prudential Index Fund % Other Current Assets (1.97) -0.18% Total Net Assets 1, Dividend History - Very Cautious Plan Company/Issuer Mkt. Value (Rs. Lakh) % to NAV ICICI Prudential Flexible Income Plan % ICICI Prudential Liquid Plan % Other Current Assets % Total Net Assets 1, Performance Records * Scheme Name Date Period NAV NAV Returns (Rs) as on Fund Benchmark 31-Oct-07 Index Very Cautious 30-Apr-07 Last 6 Months % 3.95% Very Cautious 31-Oct-06 Last 1 years % 7.43% Very Cautious 29-Oct-04 Last 3 years % 5.92% Very Cautious 18-Dec-03 Since Inception % 5.36% Cautious 30-Apr-07 Last 6 Months % 18.82% Cautious 31-Oct-06 Last 1 years % 23.71% Cautious 29-Oct-04 Last 3 years % 17.43% Cautious 18-Dec-03 Since Inception % 13.30% Moderate 30-Apr-07 Last 6 Months % 31.45% Moderate 31-Oct-06 Last 1 years % 40.29% Moderate 29-Oct-04 Last 3 years % 30.97% Moderate 18-Dec-03 Since Inception % 23.63% Aggressive 30-Apr-07 Last 6 Months % 39.58% Aggressive 31-Oct-06 Last 1 years % 51.02% Aggressive 29-Oct-04 Last 3 years % 41.43% Aggressive 18-Dec-03 Since Inception % 31.31% Very Aggressive 30-Apr-07 Last 6 Months % 42.95% Very Aggressive 31-Oct-06 Last 1 years % 55.80% Very Aggressive 29-Oct-04 Last 3 years % 46.69% Very Aggressive 18-Dec-03 Since Inception % 35.29% Very Cautious:- Crisil Liquid fund Index - 70%, Crisil Short Term Bond Fund-30% Cautious:- Nifty-15%, Crisil Composite Bond Fund Index - 70%, Crisil Liquid Fund Index-15% Moderate:- Nifty-40%, Crisil Composite Bond Fund Index - 40%, Crisil Liquid Fund Index-20% Aggressive:- Nifty-70%, Crisil Composite Bond Fund Index - 25%, Crisil Liquid Fund Index-5% Very Aggressive:- Nifty-90%, Crisil Liquid Fund Index- 10% *Returns < 1Year : Absolute, > = 1Year : CAGR. Past Performance may or may not be sustained in the future. 30-Oct-04 & 31-Oct-04 were non business days. Note: For computation of returns the allotment NAV has been taken as Rs Fund Size Rs Crores ICICI Prudential Liquid Plan - Weekly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit 6-Aug Aug Aug Aug Sep Sep Sep Sep Oct Oct Oct Oct Oct ICICI Prudential Liquid Plan - Monthly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit ICICI Prudential Liquid Plan - Quarterly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit ICICI Prudential Liquid Plan - Half Yearly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Income Plan - Quarterly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit 30-Mar June Sep ICICI Prudential Income Plan - Half yearly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit 31-Mar Sep Mar Sep Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Short Term Plan - Fortnightly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit 16-Aug Aug Sep Sep Oct Oct ICICI Prudential Short Term Plan - Monthly Dividend Option Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit 30-Aug Sep Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively.past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Sweep Plan - Cash Option - Monthly Dividend Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit

42 Dividend History ICICI Prudential Sweep Plan - Cash Option - Weekly Dividend Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit 01-Oct Oct Oct Oct Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Gilt Fund - Investment Plan - Half Yearly Dividend Option 30-Nov May Nov May ICICI Prudential Gilt Fund - Treasury Plan - Quarterly Dividend Option 28-Feb May Aug ICICI Prudential Gilt Fund - Treasury Plan - Half Yearly Dividend Option 31-May Nov May Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout. ICICI Prudential FMP Series 34-1 Year Plan A-Institutional Dividend 28-June ICICI Prudential FMP Series 34-1 Year Plan A-Retail Dividend 28-June ICICI Prudential FMP Series 34-1 Year Plan B-Retail Dividend 28-Sep ICICI Prudential FMP Series 34-1 Year Plan B-Institutional Dividend 28-Sep ICICI Prudential FMP Series 34-6 Year-Retail Dividend 5-Sep ICICI Prudential FMP Series Mths Plan-Retail Dividend 29-Mar ICICI Prudential FMP Series Mths Plan-Retail Dividend 29-Mar ICICI Prudential FMP Series Mths Plan-Institutional Dividend 29-Mar ICICI Prudential FMP Series Mths Plan A - Retail Dividend Option 31-Oct ICICI Prudential FMP Series Mths Plan B - Retail Dividend Option 31-Oct ICICI Prudential FMP Series 38-2 Years Plan-Retail Dividend 31-Oct ICICI Prudential FMP Series 38-3 Months Plan D-Retail Dividend 27-Sep ICICI Prudential FMP Series Months Plan B-Retail Dividend 31-Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Monthly Interval Plan I - Retail Dividend Option 13-Aug Sep Oct ICICI Prudential Quarterly Interval Plan I - Retail Dividend Option 16-Aug ICICI Prudential Quarterly Interval Plan II - Retail Dividend Option 17-Sep ICICI Prudential Monthly Interval Plan II - Retail Dividend Option 27-Aug Sep Oct ICICI Prudential Quarterly Interval Plan III - Retail Dividend Option 15-Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Long Term Floating Rate Plan - Dividend A Monthly Option 30-Aug Sep Oct ICICI Prudential Long Term Floating Rate Plan - Dividend B Monthly Option 30-Aug Sep Oct ICICI Prudential Long Term Floating Rate Plan - Dividend C Monthly Option 28-Apr Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Equity & Derivatives Fund-Income Optimiser Plan- Institutional Dividend Option 12-Sep ICICI Prudential Equity & Derivatives Fund-Income Optimiser Plan- Retail Dividend Option 12-Sep ICICI Prudential Equity & Derivatives Fund-Wealth Optimiser Plan- Retail Dividend Option 18-Sep Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Blended Plan A - Dividend Option 26-Oct June Apr Sep ICICI Prudential Blended Plan B - Dividend Option 26-Oct Jun Sep Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Monthly Income Plan** - Monthly Dividend Option 30-Aug Sep Oct ICICI Prudential Monthly Income Plan** - Quarterly Dividend Option 28-Feb May Aug ICICI Prudential Monthly Income Plan** - Half Yearly Dividend Option 28-Feb Aug Feb Aug Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. **An open-ended fund. Monthly income is not assured and is subject to the availability of distributable surplus. 42

43 Dividend History ICICI Prudential Floating Rate Plan - Plan A - Fortnightly Dividend Option 15-May May June June July July Aug Aug Sep Sep Oct Oct ICICI Prudential Floating Rate Plan - Plan B - Fortnightly Dividend Option 15-May May June June July July Aug Aug Sep Sep Oct Oct ICICI Prudential Floating Rate Plan - Plan C - Fortnightly Dividend Option 15-May May June June July July Aug Aug Sep Sep Oct Oct ICICI Prudential Floating Rate Plan - Plan D - Fortnightly Dividend Option 13-Sep Sep Oct Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Long Term Plan - Weekly Dividend Option 03-Oct Oct Oct Oct Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Flexible Income Plan - Weekly Dividend Option 02-Oct Oct Oct Oct Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Income Multiplier Fund - Monthly Dividend Option 30-Aug Sep Oct Dividend is gross dividend. To arrive at the net dividend payable for corporate and noncorporate investors dividend distribution 22.44% and % needs to be adjusted respectively. Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable. ICICI Prudential Services Industries Fund - Dividend 11-May Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Balanced Fund - Dividend Option 30-Oct Mar Dec Sep Mar Sep Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Infrastructure fund - Dividend 20-Mar Sep Mar Sep Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Discovery Fund - Dividend Option 05-Apr Oct Mar Nov June Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Emerging S.T.A.R. Fund - Dividend Option 19-Jul May Jan July Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Dynamic Fund - Dividend Option 21-Sep Apr Feb Aug Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Growth Plan - Dividend Option 01-Mar Mar Jul Nov Mar Mar Mar Dec June Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Power - Dividend Option 24-Jul Oct Dec Mar Mar Dec Aug Mar Sep Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential FMCG Fund - Dividend Option 16-Mar Mar Jan July Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any ICICI Prudential Tax Plan - Dividend Option 16-Mar Jul Mar Dec Aug Mar Nov Feb Aug Past performance may or may not be sustained in future. After payment of dividend the NAV will fall to the extent of dividend payout and statutory levy, if any 43

44 Funds at a glance Key Features Liquid Plan Income Plan Short Term Plan Floating Rate Plan Long Term Floating Rate Plan Type Open-ended Liquid Income Fund Open-ended Debt Fund Open-ended Income Fund Open-ended Income Fund Open-ended Income Fund Investment Pattern (Under normal circumstances) Money Market upto 80% & Debt Instruments upto 20% Debt Securities upto 75% & Money Market & Cash upto 25% Debt Securities upto 100% & Money Market & Cash upto 50% % = Floating Rate Debt Instruments. 0-35% = Fixed rate debt instruments % = Floating Rate Debt Instruments. 0-35% = Fixed rate debt instruments Options 1. Growth Option 2. Dividend Option a) Dividend Payout Quarterly & Half Yearly b) Div. Reinvestment i) Daily, Weekly & Monthly ii) Quarterly & Half Yearly 1. Growth 2. Growth-AEP (Appreciation & Regular) 3. Dividend^ (Quarterly & Half Yearly) 1. Cumulative 2. Dividend Reinvestment (Fortnightly & Monthly) 1. Cumulative 2. Div. Reinvestment (Fortnightly & Daily frequencies) 1. Cumulative 2. Div. Reinvestment (Quarterly) Default Option Dividend Reinvestment with weekly frequency. Dividend Reinvestment with Half Yearly frequency. Dividend Reinvestment with Fortnightly frequency. Option: Plan A Sub option: Cumulative Option: Plan A Sub option: Cumulative Dividend: Automatic Reinvestment Application Amount ### a) Growth option : Rs.15,000 b) Institutional option: Rs. 1 cr c) Institutional Plus option: Rs. 3 crs d) Super Institutional Growth option: Rs. 5 crs (plus in multiples of Re.1) Rs. 5,000 (plus in multiples of Re. 1) Rs.25,000 for AEP Rs.5,000 (plus in multiples of Re. 1) Rs.25,000 for Institutional option (plus in multiples of Re.1) a) Plan-A: Rs 10,000/- b) Plan-B: Rs.10 lacs c) Plan-C: Rs.3 crores d) Plan-D: Rs.5 crores (plus in multiples of Re.1) a) Plan-A: Rs 25,000/- b) Plan-B: Rs.1 crore c) Plan-C: Rs.5 crores (plus in multiples of Re.1) Min. Addl. Investment ### a) Growth option : Rs.5,000 b) Institutional option: Rs. 1 lac c) Institutional Plus option: Rs. 1 lac d) Super Institutional Growth option: Rs. 1 lac (plus in multiples of Re.1) Rs. 500 & in multiples thereof Rs. 500 & in multiples thereof Plans A & B: Rs.1000 plus in multiples of Re.1 Plan C: The minimum additional investment amount can be any amount provided the minimum balance in the investors account at the time of additional subscription including the amount proposed to be invested, is not below Rs. 5 Crore****. Plan D: Rs.1 lac. Plans A & B: Rs.1000 (plus in multiples of Re1) Plan C: The minimum additional investment amount can be any amount provided the minimum balance in the investors account at the time of additional subscription including the amount proposed to be invested, is not below Rs. 5 Crore****. Entry Load* Plan-A, B, C & D: Plan-A, B & C : Exit Load* $$$ For investment of less than or upto Rs.10 lacs : 0.5% if investment held for less than or equal to a period of 6 months For investment of above Rs.10 lacs: Plan-A, B, C & D: For all investments made on or after April 24, 2007, an exit load of 0.25% of the applicable NAV if the redumption/switch-out is made within 10 days from the date of investment. Plan-A: 0.50% for investments of less than or equal to Rs. 1 Crore and redemption is made on or before the completion of six months from the date of allotment of units. Plan B & Plan C: Redemption Cheques Issued ## Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non-RBI locations. Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Generally Within 1 business day for Specified RBI locations and additional 3 Business Days for Non-RBI locations. Generally Within 1 business day for Specified RBI locations and additional 3 Business Days for Non- RBI locations. Min. Redemption Amt. Rs. 5,000 Rs. 500 Rs. 500 Rs. 500/- and multiples thereof Rs. 5,000/- and in multiples thereof; provided that minimum balance under a particular folio should not fall below the minumum application amount. This will not be applicable for closing the account. Cut off time: Purchase/Switch in Redemption/Switch out $ noon Systematic Investment Plan (SIP) N.A. Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs. 1,000 each. Not Available Not Available Not Available ***** Systematic Withdrawal Plan (SWP) N.A. Minimum of Rs. 500 and in multiples of Re. 1/- Not Available Not Available Not Available Systematic Transfer Plan (STP) $$ Available Available Available Available Available Maximum Estimated Recurring Expenses** 2.25% 2.25% 2.25% Plan A Plan B Plan C 2.25% 2.25% 2.25% Plan A Plan B Plan C 2.25% 2.25% 2.25% * The Trustees reserves the right to change/modify the load structure at a later date for the Schemes. ** Investors are requested to read the section on Fees and Annual Recurring expenses in the Offer Documents of the respective schemes. The recurring expenses indicated above may change subject to ceilings under the Regulations. *** Entry load of 2.25% of the applicable NAV will be charged on the SIP/STP investment under this Scheme. Exit Load on the SIP/STP Invesment under this Scheme is. *****For SIP/STP investment under this 44

45 Funds at a glance Key Features Gilt - Treasury Gilt - Investment Gilt - Treasury PF Option Gilt - Investment PF Option Flexible Income Plan Type Open-ended short-term Gilt Fund Open-ended medium-term Gilt Fund Open-ended Gilt Fund Open-ended Gilt Fund Open-ended Income Fund Investment Pattern (Under normal circumstances) Gilt Securities (incl. Treasury Bills). Average Maturity normally not to exceed 3 years. Gilt Securities (incl. Treasury Bills). Average Maturity normally not to exceed 8 years. Gilt Securities (incl. Treasury Bills). Average Maturity normally not to exceed 3 years. Gilt Securities (incl. Treasury Bills). Average Maturity normally not to exceed 8 years. 10 to 100% - Money market and Debentures with residual maturity of less than 1 year. 0 to 90% - Debt instruments with maturity more than 1 year Options 1. Growth 2. Growth-AEP 3. Dividend Æ (Quarterly & Half Yearly) 1. Growth 2. Growth-AEP 3. Dividend (Half Yearly) 1. Growth 2. Growth-AEP (Monthly, Quarterly, Half Yearly & Yearly) 1. Growth 2. Growth-AEP (Monthly, Quarterly, Half Yearly & Yearly) 1. Cumulative 2. Dividend Reinvestment (Daily & Weekly Frequencies) 3. Dividend Payout (Weekly) Æ Æ Default Option Dividend Reinvestment with Quarterly frequency. Dividend Reinvestment with Half Yearly frequency. Cumulative option Cumulative option Dividend Reinvestment with daily frequency. Application Amount ### Rs.25,000 (plus in multiples of Re. 1) Rs.25,000 (plus in multiples of Re. 1) Rs.25,000 (plus in multiples of Re. 1) Rs.25,000 (plus in multiples of Re. 1) Rs.5,000 (plus in multiples of Re. 1) Min. Addl. Investment ### Rs. 5,000 & in multiples thereof Rs. 5,000 & in multiples thereof Rs. 5,000 & in multiples thereof Rs. 5,000 & in multiples thereof Rs. 500 & in multiples thereof Entry Load* Exit Load* $$$ 0.80% of applicable NAV in case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 days. Exit Load is NIL if the amount is invested for more than 365 days. 0.60% of applicable NAV in case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 days. Investment made on or after March 28, % of the applicable NAV, if the redemption/switch-out is made within 10 days from the date of investment. Redemption Cheques Issued ## Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non- RBI locations Min. Redemption Amt. Rs. 5,000 Rs. 5,000 Rs. 5,000 Rs. 5,000 Rs. 500 Cut off time: Purchase/Switch in Redemption/Switch out $ Systematic Investment Plan (SIP) Not Available Not Available Not Available Not Available Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs. 1,000 each ***** Systematic Withdrawal Plan (SWP) Not Available Not Available Not Available Not Available Minimum of Rs. 500 and multiples of Re. 1/- Systematic Transfer Plan (STP) $$ Available Available Not Available Not Available Available Maximum Estimated Recurring Expenses** 1.10% 1.15% 2.25% 1.10% 2.25% Scheme: Entry Load, Exit Load. ^ Under the Dividend Option, the Unit-holder may choose between Dividend Payout and Reinvestment Option. If not chosen, Default Option would be Dividend Payout. $ For all web-based transactions under the schemes of ICICI Prudential Mutual Fund, entered through the website of the fund viz. there would be a cooling off period of 30 minutes before the respective cut-off times of the relevant schemes. ### In case of all purchase transactions including additional purchase requests under all schemes except ICICI Prudential Liquid Plan, the AMC reserves the right to reject/reverse the transaction, if an amount of Rs. 1 Lakh and above is received by way of MICR cheques at the centers where high value clearing is available. In case of ICICI Prudential Index Fund, all the transaction for Fresh/Additional purchases for a consideration of Rs.One lakh and above will be accepted only through High Value Cheques/Demand Drafts received before the cut-off time of a.m. for clearing of High Value Instruments or through Transfer Cheques received before 1.00 p.m. Æ For dividend of Rs.500 or less the Dividend will be Automatic Compulsory Reinvestment (irrespective of the option selected by the Unitholder) & for Dividend of more than Rs.500 will either be paid out or reinvested as opted by the Unitholders, If not selected the default option would be dividend reinvestment. ÆÆ Dividend Payout facility under ICICI Prudential Flexible Income Plan will be available only where the amount of dividend is exceeding Rs. 1 Lakh and dividend frequency is Weekly. If the investor fails to specify the facility under dividend option, then dividend reinvestment facility shall be the default facility under the Scheme. ## As per the Regulations, the Fund shall dispatch redemption proceeds within 10 Business days of receiving the redemption request. Investors are advised to refer to the sections titled Suspension of sale and redemption of units and Right to limit Redemption. The default option for payment of redemption/dividend proceeds would be Direct Credit into their bank account (in case the investor has provided his bank mandate as one of the banks participating in direct credit arrangement and if he fails to specify the mode of payment). **** Minimum additional application amount shall be applicable for investments by an investor by itself or for investments along with any of its group companies. Later on even if the net asset value under the folio falls below Rs. 5 crores, the investment can continue under the Option C. The minimum additional application amount shall be applicable for investments by an investor by itself or for investments along with any of its group companies. Later on even if the net asset value under the folio below Rs. 5 cores, the investment can continue under the ICICI Prudential Floating Rate Plan-Plan D. $$$ Where as a result of a redemption / switch arising out of excess holding by an investor beyond 25% of the net assets of the scheme in the manner envisaged under specified SEBI circulars, such redemption / switch will not be subject to exit load. $$ The minimum amount that can be transferred from one scheme to another is Rs. 1000/- for a minimum of 6 installments. The unitholder can avail the STP facility for a maximum period of 10 Default option for ICICI Prudential Blended Plan is Plan B. Exit Load for fresh and additional purchases (including SIPs and STPs) made in the schemes given hereinbelow during September 15, 2006 to October 16, 2006, the following will 45

46 Funds at a glance Key Features Type Investment Pattern (Under normal circumstances) Options Default Option Application Amount ### Min. Addl. Investment ### Entry Load* Exit Load* $$$ Redemption Cheques Issued ## Min. Redemption Amt. Cut off time: Purchase/Switch in Redemption/Switch out $ Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP) Maximum Estimated Recurring Expenses** Long Term Plan Open-ended Income Fund Debt Instruments - 0% to 100% & Money Market instruments - 0% to 10% 1. Cumulative 2. Dividend (Weekly) Dividend Reinvestment Rs. 5,000 (plus in multiples of Re.1) Rs. 500/- & in multilples thereof Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non-RBI locations. Rs. 500/- provided that minimum balance under a particular folio should not fall below Rs. 5,000 Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs. 1,000 each. ***** Minimum of Rs. 500 and in multiples of Re. 1/- Not Available 2.00% Income Multiplier Fund Regular Plan An open-ended debt fund which invests upto 30% in equity. Equity & Equity Related Securities 0-30%, Debt instruments %, Cash & money market instruments 0-5%. 1. Cumulative 2. Dividend (Monthly) Dividend Reinvestment Rs.5,000 (plus in multiples of Re.1) Rs.500 & in multiples thereof (i) 1% - For investments of less than Rs. 5 crores and if the investments are held for less than a period of 12 months; (ii) No Exit Load for investments of Rs. 5 crores and above. Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non-RBI locations Rs.500 Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs. 1,000 each. ***** Minimum of Rs.500 and multiples of Re. 1/- Available $$ 2.25% Monthly Income Plan An open-ended fund. Monthly income is not assured and is subject to the availability of distributable surplus. Debt securities, money market instruments, securitised debt & Cash upto 85%, Equity & Equity related securities upto 15% 1. Cumulative 2. AEP (Appreciation & Regular) 3. Dividend (Monthly, Quarterly & Half Yearly) Dividend Reinvestment (Monthly) a) Cumulative : Rs.5,000 b) Dividend & AEP : Rs. 25,000 (plus multiples of Re 1) Rs.500 & in multiples thereof under each option For investment of less than or upto Rs.10 lakhs: 0.5% if investment held for less than or equal to a period of 6 months For investment of above Rs.10 lakhs: Generally within 1 Business Day for specified RBI locations and additional 3 Business Days for Non-RBI locations Rs.500 Dividend & AEP Option Monthly and Cumulative (without AEP) Option Monthly: Min. Rs. 1, post-dtd. cheques for a minimum of Rs. 1,000 each. ***** Minimum of Rs.500 and multiples of Re. 1/- Available $$ 2.25% Child Care Plan - Study Open-ended fund (Study Plan) Equity and Equity related securities 0-15%, Debt Securities, Money Market Instruments, Securitised Debt and Cash % Cumulative Option Cumulative Option Rs. 5,000/-, additional in multiples of Re.1 Rs. 1,000/- & in multiples thereof 1.50% 1.00% if investment is redeemed within 3 years. if investment is redeemed after 3 years but before the Beneficiary Child attains the age of 18. Normally Within 3 business days Rs. 1,000 Monthy : Minimum Rs post dated cheques for a min of Rs. 1,000/- each. Entry Load: 1.50% of applicable NAV Exit Load: 1.00% of applicale NAV if investment is redeemed within 3 years from the date of allotment, thereafter. Minimum of Rs.500 and multiples of Re. 1/- Available (from Study Plan to Gift Plan) 2.25% Key Features Type Investment Pattern (Under normal circumstances) Options Default Option Application Amount ### Min. Addl. Investment ### Max. Amount Investment per application Entry Load* Exit Load* $$$ Redemption Cheques Issued ## Min. Redemption Amt. Cut off time: Purchase/Switch in Redemption/Switch out $ Systematic Investment Plan (SIP) Child Care Plan - Gift Open-ended fund (Gift Plan) Equity & Equity related securities 65% to 100%, Debt Securities, Money Market Instruments, Securitised Debt & Cash - 0% to 35%. Cumulative Option Cumulative Option Rs. 5,000/-, additional in multiples of Re.1 Rs.1,000/- Not Available 1.50% 1.00% if investment is redeemed within 3 years. if investment is redeemed after 3 years but before the Beneficiary Child attains the age of 18. Normally Within 3 business days Rs.1,000 Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP) $$ Not available Monthy : Minimum Rs post dated cheques for a min of Rs. 1,000/- each. Entry Load: 1.50% of applicable NAV Exit Load: 1.00% of applicale NAV if investment is redeemed within 3 years from the date of allotment, thereafter. Minimum of Rs.500 and multiples of Re. 1/- Balanced Fund Open-ended Balanced Fund Equity and Equity related instruments 65% to 80% & Debt, Money Market and Cash 20% to 35%. Growth & Dividend Dividend Reinvestment Rs. 5,000 (plus in multiples of Re. 1) Rs. 500 & in multiples thereof Not Available (i) For investment of less than Rs.5 Crores: 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Rs. 500 Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Blended Plan - Open ended fund investing in a blend of equity, derivatives, debt and money market instruments. Equity and Equity Related securities 65%- 80%; Derivative including Index Futures, Stock Futures, Index Options and Stock Options etc. 0%-80%; Money Market, Debt instruments, securitised debt 20%-35%. Growth & Dividend Option - Growth Sub-option - Reinvestment Rs. 5,000 (plus in multiples of Re. 1) Rs. 1,000 & in multiples of Re.1/- Rs. 10 Crores per application 0.50%, if the investment is redeemed within a period of 30 days from the date of allotment., if the investment is redeemed after 30 days from the date of allotment. Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Rs. 500 and in multiples of Re.1/- Not available Minimum of Rs.500 and multiples of Re. 1/- Not available Available Not available Blended Plan - Open ended fund investing in a blend of equity, derivatives, debt and money market instruments. Equity and Equity Related securities 0%- 49%; Derivative including Index Futures, Stock Futures, Index Options and Stock Options etc. 0%-49%; Money Market, Debt instruments, securitised debt 51%-100%. Growth & Dividend Option - Growth Sub-option - Reinvestment Rs. 5,000 (plus in multiples of Re. 1) Rs. 1,000 & in multiples of Re.1/- Not Available 0.50%, if the investment is redeemed within a period of 30 days from the date of allotment., if the investment is redeemed after 30 days from the date of allotment. Generally within 1 Business Day for specified RBI locations and an additional of 3 Business Days for Non RBI locations Rs. 500 and in multiples of Re.1/- Not available Not available Not available Maximum Estimated Recurring Expenses** 2.50% 2.50% 2.50% 2.25% be applicable: ICICI Prudential Power, ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI Prudential Balanced Fund (i) 0.50% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of six months or less than six months from the date of allotment. (ii) for investment of Rs. 5 crores and above. ICICI Prudential Income Multiplier Plan (i) 1.25% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of less than twelve months from the date of allotment. (ii) for investment of Rs. 5 crores and above. ICICI Prudential Monthly Income Plan (i) 0.75% of the applicable NAV if the investment is made for an amount of less than or equal to Rs. 10 Lakhs and is invested for a period of six months or less than six months from the date of allotment. (ii) for investment of above Rs. 10 Lakhs. ICICI Prudential Child Care Plan Gift and Study Option 1.25% of the applicable NAV if invested for a period of three years or less than three years from the date of 46

47 Funds at a glance Key Features Growth Plan FMCG Fund Technology Fund Dynamic Plan Tax Plan Power Type Open-ended Equity Fund Open-ended FMCG Sectoral Fund Open-ended Equity Fund Open-ended Equity Fund Open-ended Equity Linked Saving Scheme Open-ended Growth Fund Investment Pattern (Under normal circumstances) Equity and Equity related instruments upto 95% & Debt, Money Market and Cash upto 5% Equity and Equity related instruments in FMCG Companies upto 90% in & Debt, Money Market and Cash upto 10% Equity and Equity related instruments 90 to 95% & Debt, Money Market and Cash 5 to 10% Equity and Equity related instruments 0 to 100% & Debt, Money Market and Cash 0 to 100% Equity and Equity related instruments upto 90% & Debt, Money Market and Cash upto 10% Equity and Equity related securities including non convertible portion of convertible debentures - Upto 95% and at least 5% in Debt and Money Market securities. Options Growth & Dividend Growth & Dividend Growth & Dividend Cumulative & Dividend Growth & Dividend Cumulative & Dividend Default Option Dividend Reinvestment Dividend Reinvestment Dividend Reinvestment Dividend Reinvestment Dividend Reinvestment Dividend Reinvestment Application Amount ### Rs. 5,000 (plus in multiples of Re.1) Rs. 5,000 (plus in multiples of Re.1) Rs. 5,000 (plus in multiples of Re.1) Rs. 5,000 (plus in multiples of Re.1) Rs. 500 (plus in multiples of Re. 1) Rs. 5,000 (plus in multiples of Re.1) Min. Addl. Investment ### Rs. 500 & in multiples thereof Rs. 500 & in multiples thereof Rs. 500 & in multiples thereof Rs. 500 & in multiples thereof Rs. 500 & in multiples thereof Rs. 500 & in multiples thereof Entry Load* (i) For investment of less than Rs.5 Crores: 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL (i) For investment of less than Rs.5 Crores : 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL (i) For investment of less than Rs.5 Crores : 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL (i) For investment of less than Rs.5 Crores: 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL (i) For investment of less than Rs.5 Crores : 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL (i) For investment of less than Rs.5 Crores: 2.25% of applicable NAV; (ii) For investment of Rs.5 Crores & above: NIL Exit Load* $$$ Redemption Cheques Issued ## Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations after lock-in period of 3 yrs. Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non RBI locations Min. Redemption Amt. Rs. 500 Rs. 500 Rs. 500 Rs. 500 and in multiples thereof Rs. 500 Rs. 500 and in multiples thereof Cut off time: Purchase/Switch in Redemption/Switch out $ Systematic Investment Plan (SIP) Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Monthly: Minimum of Rs. 500 or multiples thereof & 5 postdated cheques for a minimum of Rs. 500 for a block of 5 months in advance. *** Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Systematic Withdrawal Plan (SWP) Minimum of Rs.500 and multiples of Re. 1/- Minimum of Rs.500 and multiples of Re. 1/- Minimum of Rs.500 and multiples of Re. 1/- Minimum of Rs.500 and multiples of Re. 1/- Not available Minimum of Rs.500 and multiples of Re. 1/- Systematic Transfer Plan (STP) $$ Available Available Available Available Available Available Maximum Estimated Recurring Expenses** 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% allotment. The exit load structure will also be applicable for switch-ins to any of the above schemes from the following open-ended debt schemes alone: (a) ICICI Prudential Liquid Plan (b) ICICI Prudential Floating Rate Plan (c) ICICI Prudential Sweep Plan - Cash Option. There will be no change in the exit load structure for all purchases, SIPs, STPs, Switch-ins made either before September 15, 2006 or after October 16, For all investments made under ICICI Prudential Power, ICICI Prudential Services Industries Fund and ICICI Prudential Equity & Derivatives Fund Wealth Optimiser Plan on and from August 01, 2007 (excluding investments made through Systematic Investment Plan and Systematic Transfer Plan facility) no Exit Load will be charged on redemption/ switch-out of such investments. 47

48 Funds at a glance Key Features Infrastructure Fund Services Industries Fund SPIcE Index Fund Discovery Fund Emerging S.T.A.R. (Stocks Targeted At Returns) Fund Type Investment Pattern (Under normal circumstances) Options Default Option Application Amount ### Rs. 5,000 (plus in multiples of Re.1) Min. Addl. Investment ### Rs. 500 & in multiples thereof Entry Load* Exit Load* $$$ Redemption Cheques Issued ## Min. Redemption Amt. Cut off time: Purchase/Switch in Redemption/Switch out $ Systematic Investment Plan (SIP) Systematic Withdrawal Plan (SWP) Systematic Transfer Plan (STP) $$ Maximum Estimated Recurring Expenses** Open-ended Equity Fund Equity and Equity related instruments in Infrastructure sector 70% to 100% & debt, money market instrument - 0% to 30% Growth & Dividend Dividend Reinvestment (i) For all purchases of less than Rs. 5 Crore per Transaction: 2.25% of applicable NAV; (ii) For purchases of Rs.5 Crore & above per Transaction : NIL 1) For investment made before 28-Nov-05: A) 1% of applicable NAV if i) Amount originally invested per transaction is less than Rs.5 crores and Redemption made before completion of 6 months from the date of allotment of units. B) if i) Original investment is 5 crores or more per transaction. Or ii) Redemption Request made on/after 6 months from date of allotment irrespective of original investment. 2) for investments made on or after 28-Nov-05. Generally within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non-RBI locations Rs. 500 Monthly: Minimum Rs. 1, post-dated cheques for a minimum of Rs each *** Minimum of Rs.500 and multiples of Re. 1/- Available 2.50% Open-ended Equity Fund Equity and equity related instruments in services sector 70% to 100% & debt, money market instruments - 0% to 30% Growth & Dividend payout & Dividend Reinvestment Dividend Reinvestment Rs per application and in multiples of Re.1 thereafter Rs. 500 per application and in multiples of Re.1 thereafter (i) For all purchases of less than Rs. 5 crore per transaction:2.25% of applicable NAV; (ii) For all purchases of more than Rs. 5 crore & above per transaction:nil For investment made during New Fund Offer (NFO) Period: (i) 1% of applicable NAV if amount originally invested per transaction is less than Rs. 5 crores and redemption made before completion of 6 months from the date of allotment. (ii) if (a) Original investment is 5 crores or more per transaction and the redemption request is made within 6 months or beyond; or (b) Redemption Request is made on/after 6 months from the date of allotment irrespective of any amount invested. For investment made after NFO Period: Generally within 3 business days for specified RBI locations and an additional 3 Business days for Non-RBI locations Rs 500 and in multiples thereof Monthly:Minimum Rs Installment for a minimum of Rs each and in multiples of Re. 1 thereafter Available Available 2.50% *** An open-ended, Open-ended Index Linked exchange listed, index Growth Scheme linked growth scheme Securities comprising the SENSEX upto 100% & Upto 10% in Money market instruments, convertible bonds & other securities including cash Cumulative One Unit (One unit = SENSEX/100) One Unit (One unit = SENSEX/100) NIL (In case there are no quotes on the BSE/ DSE for five trading days consecutively, an investor can sell directly to the fund at an exit load of 2.5% of NAV) Within 3 business days One Unit (One unit = SENSEX/100) during Stock Exchange Working Hours Not Available Not Available Not Available 1.00% Equity stocks drawn from the components of the S&P CNX Nifty and the exchange traded derivatives on the S&P CNX Nifty upto 100%. Money Market instruments upto 10% Rs.5,000 (plus multiples of Rs 1000) Rs.1000/- 1.00% of applicable NAV Within 3 Business Days Rs.1000 Monthly/Quarterly: Minimum Rs.1,000/- + 5 post-dated cheques of Rs. 1,000/- each. Entry Load: ; Exit Load: 0.5% of the applicable NAV, if the investment is redeemed within 1 year from the date of allotment, thereafter. Minimum of Rs.1000 and multiples of Re. 1/- Available 1.25% Open-ended Equity Fund Equity and Equity related securities - 80% to 100% and Cash & Money Market instruments - 0% to 20% Growth & Dividend Dividend Reinvestment Rs. 5,000 (plus in multiples of Re.1) Rs. 500 & in multiples thereof (1) For investment of less than Rs. 5 Crores: Entry load at 2.25% of applicable Net Asset Value (NAV); (2) For investment of Rs.5 Crores and above: Entry load is. Within 3 Business Days for specified RBI locations and an additional of 3 Business Days for Non- RBI locations. Rs.500 Monthly: Minimum Rs.1, post-dated cheques of Rs. 1,000 each *** Minimum of Rs.500 and multiples of Re. 1/- Available 2.50% Open-ended Equity Fund Equity and Equity Linked Instruments - 90% to 100% and Debt Securities, Cash & Money Market instruments - 0% to 10% Growth & Dividend Dividend Reinvestment Rs. 5,000 (plus in multiples of Re.1) Rs. 500 & in multiples thereof (1) For investment of less than Rs. 5 Crores: Entry load at 2.25% of applicable Net Asset Value (NAV); (2) For investment of Rs.5 Crores and above: Entry load is. The exit load structure for fresh and additional purchases for amounts less than Rs. 5 crores (including switch-ins from open ended debt schemes) made by unitholders during the period May 1, 2006 to May 31, 2006 will be (i) 0.5% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of six months or less than six months from the date of allotment; (ii), if the amount sought to be redeemed or switched out is invested for a period of more than six months from the date of allotment. This load structure will be applicable only for the purchases (including switch-ins from open ended debt schemes) made during the period May 1, 2006 to May 31, For all other purchases made either before May 1, 2006 or after May 31, 2006 no exit load will be charged on the redemptions or switch-outs made. Within 3 Business Days from the date of acceptance of Redemption request at any of the Customer Service Centres. Rs.500 Monthly: Minimum Rs. 1, postdated cheques of Rs. 1,000 each *** Minimum of Rs.500 and multiples of Re. 1/- Available 2.50% Vide notice dated August 29, 2007, investments made on or after September 01, 2007 through SIP and STP facilities available under ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI Prudential Emerging S.T.A.R. (Stocks Targeted At Returns) Fund, ICICI Prudential Growth Plan, ICICI Prudential Power, ICICI Prudential Services Industries Fund and ICICI Prudential Infrastructure Fund, no Exit Load will be charged on all the new applications made under the scheme. Vide addendum dated 5th October, 2007, for all the fresh investments made on or after October 08, 2007 under ICICI Prudential Infrastructure Fund, ICICI Prudential Dynamic Plan and ICICI Prudential Equity & Derivatives Fund Wealth Optimiser Plan, an exit load of 0.50% of the applicable NAV will be charged, if redemption/switch-out of the investment is made within 6 months from the date of allotment of units under the above mentioned schemes. Vide addendum dated 9th October, 2007, for all fresh investments (including investments through SIP/STP) of Rs. 5 crores or more made under ICICI Prudential Infrastructure Fund, ICICI Prudential Dynamic Plan and ICICI Prudential Equity & Derivatives Fund - Wealth Optimiser Plan on or after October 10, 2007, no exit load will be charged. 48

49 Funds at a glance Key Features Equity & Derivatives Fund Income Optimiser Plan Equity & Derivatives Fund Wealth Optimiser Plan Indo Asia Equity Fund Type Open-ended Equity Fund Open-ended Equity Fund Open-ended Diversified Equity Fund Investment Pattern (Under normal circumstances) 65% to 80% in Equity and Equity Derivatives (equity unhedged exposure limited to 5%), 20% to 35% in Debt instruments. 65% to 100% in Equity and Equity Derivatives (equity unhedged exposure limited to 80%), 0% to 35% in Debt instruments. 65% to 100% in Equity & equity related securities in India, 0% to 35% in Asian Equity Fund(s), Equity & Equity Related Securities or Share Classes/Units of Equity Fund, 0% to 35% in Debt instruments Options Retail Option and Institutional Option Regular Option Retail Option and Institutional Option Default Option Retail Option Retail Option Sub-Options Growth and Dividend with dividend payout and dividend reinvestment facilities. Growth and Dividend with dividend payout and dividend reinvestment facilities. Under Retail Option: Growth and Dividend with payout & reinvestment facilities Under Institutional Option: Growth Default Sub-Options Dividend Reinvestment Dividend Reinvestment Dividend Reinvestment under Reatil Option Min. Application Amount ### Retail Option: Rs.5,000 (plus in multiples of Re.1) Institutional Option: Rs.5 crores (plus in multiples of Re.1) Regular Option: Rs.5,000 (plus in multiples of Re.1) Retail Option: Rs.5,000 (plus in multiples of Re.1) Institutional Option: Rs.5 crores (plus in multiples of Re.1) Min. Addl. Investment ### Rs.1,000/- (plus in multiples of Re.1/-) Rs.1,000/- (plus in multiples of Re.1/-) Under Retail: Rs.1,000/- (plus in multiples of Re.1/-); Under Institutional: Rs.10,000/ - (plus in multiples of Re.1/-) Entry Load* i) 2.25% of the applicable NAV, if the investment amount is less than Rs.5 crores ii) for investment of Rs.5 crores and above. Under Retail: (i) For investment of less than Rs. 5 Crores: 2.25% of applicable NAV; (ii) For investment of Rs. 5 Crores and above:. Under Institutional: Exit Load* $$$ i) 0.5% of the applicable NAV, if the investment is redeemed within a period of 6 months from the date of allotment. ii) if the investment is redeemed after 6 months from the date of allotment. i) 0.50% of the applicable NAV if redemption/switchouts is made within 6 months from the date of investment. ii) for investment of Rs.5 crores and above and redeemed any time. Under Retail: (i) For investment of Rs. 5 Crores and above: ; (ii) For investment of less than Rs. 5 Crores made during the NFO period and redeemed before 6 months from the date of allotment: 1% of applicable NAV; (iii) For investment made after the NFO period:. Under Institutional: Redemption Cheques Issued ## Within 10 Business Days from the date of acceptance of a transaction request. Within 10 Business Days from the date of acceptance of a transaction request. Within 10 Business Days from the date of acceptance of a transaction request. Min. Redemption Amt. Rs. 500/- Rs 500/- Rs. 500 and in multiples of Re. 1, provided minimum balance should not fall below Rs Cut off time: Purchase/Switch in Redemption/Switch out $ Systematic Investment Plan (SIP) Retail Option (Monthly): Minimum Rs. 1, post-dated cheques for a minimum of Rs each. Entry load for SIP & STP investments: Exit load for SIP & STP investments: i) 0.5% of the applicable NAV, if the investment is redeemed within a period of 6 months from the date of allotment. ii) if the investment is redeemed after 6 months from the date of allotment. Regular Option (Monthly): Minimum Rs post dated cheques for a minimum of Rs each. Entry load for SIP & STP investments: i) 2.25% of the applicable NAV, if the investment amount is less than Rs.5 crores. ii) if the iinvestment amount is Rs.5 crores or more Exit load for SIP & STP investments : Retail Option : Minimum Rs post dated cheques for a minimum of Rs. 1,000 each. Entry load for SIP & STP investments: 2.25% of the applicable NAV. Exit load for SIP & STP investments : 1% if the units are redeemed before 6 months. Institutional Option: No SIP & STP facilities available under Institutional Option. Systematic Withdrawal Plan (SWP) Retail Option: Rs.500 and in multiples of Re. 1/- provided minimum balance should not fall below Rs.5000/-. Regular Option: Rs.500 and in multiples of Re. 1/- provided minimum balance should not fall below Rs.5000/-. Regular Option: Rs.500 and in multiples of Re. 1/- provided minimum balance should not fall below Rs.5000/-. Systematic Transfer Plan (STP) $$ Available Available Available only under Retail Option Maximum Estimated Recurring Expenses** 2.50% 2.50% 2.50% 49

50 ICICI Prudential Mutual Fund Corporate Office Peninsula Tower, 8th Floor, Peninsula Corporate Park, Ganpatrao Kadam Marg, Off. Senapati Bapat Marg, Lower Parel, Mumbai Telephone No.: Fax No.: Website: Statutory Details, Risk Factors & Additional Information Statutory Details: ICICI Prudential Mutual Fund (the Fund) was set up as a Trust sponsored by Prudential plc (through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) and ICICI Bank Ltd. ICICI Prudential Trust Limited (the Trust Company), a company incorporated under the Companies Act, 1956, is the Trustee to the Fund. ICICI Prudential Asset Management Company Ltd (the AMC). a company incorporated under the Companies Act, 1956, is the Investment Manager to the Fund. ICICI Bank Ltd and Prudential Plc (acting through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) are the promoters of the AMC and the Trust Company. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Schemes will be achieved. As with any securities investment, the NAV of the Units issued under the Schemes can go up or down, depending on the factors and forces affecting the capital markets. Past performance of the Sponsors, AMC/Fund does not indicate the future performance of the Schemes of the Fund. The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes beyond the contribution of an amount of Rs.22.2 lacs, collectively made by them towards setting up the Fund and such other accretions and additions to the corpus set up by the Sponsors. ICICI Prudential Growth Plan^ (An open-ended equity fund. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: ; ICICI Prudential Income Plan (An open-ended Debt Fund. Objective is to generate income through investments in debt securities), Entry Load:, Exit Load: For investment of less than or upto Rs. 10 Lakhs : 0.50% of applicable Net Asset Value (NAV) if the investment held for less than or equal to a period of 6 months; For investment of above Rs. 10 Lakhs: ; ICICI Prudential Liquid Plan (An open-ended Liquid Income Fund. Objective is to generate reasonable returns while providing high levels of liquidity), Entry Load:, Exit Load: ; ICICI Prudential FMCG Fund^ (An open-ended FMCG Sectoral Fund. Objective is to generate long term capital appreciation through investments primarily in FMCG sector), Entry Load: **, Exit Load: ; ICICI Prudential Tax Plan^ (An openended Equity Linked Saving Scheme. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: ; ICICI Prudential Gilt Fund - Treasury Plan (An open-ended short-term Gilt Fund. Objective is to generate regular returns through investments made in gilts), Entry Load:, Exit Load: ; ICICI Prudential Gilt Fund - Investment Plan (An openended medium-term Gilt Fund. Objective is to generate regular returns through investments made in gilts), Entry Load:, Exit Load: ; ICICI Prudential Balanced Fund^ (An openended Balanced Fund. Objective is to generate long term capital appreciation and current income), Entry Load: **, Exit Load: ; ICICI Prudential Technology Fund^ (An open-ended Equity Fund. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: ; ICICI Prudential Monthly Income Plan (An open ended fund. Monthly income is not assured and is subject to the availability of distributable surplus) (Objective is to generate regular income through investments in fixed income securities), Entry Load:, Exit Load: For investment of less than or upto Rs. 10 Lakhs : 0.50% of applicable Net Asset Value (NAV) if the investment held for less than or equal to a period of 6 months; For investment of above Rs. 10 Lakhs : ; ICICI Prudential Fixed Maturity Plan Series 34 - One Year Plan A, One Year Plan B, Fifteen Months Plan, Sixteen Months Plan, Seventeen Months Plan & Eighteen Months Plan (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan.), Entry Load:, Exit Load: - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan - Series 35 Thirteen Months Plan A & Thirteen Months Plan B, One Year Plan (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Plan. Entry Load:, Exit Load: - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 37 Fourteen Months Plan, One Year Plan - A (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan. Entry Load:, Exit Load: - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 38 One Year Plan A & One Year Plan B (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan), Entry Load:, Exit Load: - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan Series 38 Two Years Plan (A close-ended Debt Fund. Object of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan. Entry Load:, Exit Load: - for redemptions made on Maturity, 3% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan - Series 36 Eighteen Months Plan A (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan. Entry Load:, Exit Load: The units of the plan under the scheme will be redeemed on the date of maturity without any exit load); ICICI Prudential Fixed Maturity Plan - Series 36 - Eighteen Months Plan B (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan), Entry Load:, Exit Load: - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 39 3 Months Plan A (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Plan), Entry Load:, Exit Load: - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series Months Plan A & 24 Months Plan B (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Plan), Entry Load:, Exit Load: - for redemptions made on Maturity, 3% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series Months Plan (A close-ended Debt Fund. Objective of the Scheme is to seek to generate returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Scheme), Entry Load:, Exit Load: - for redemptions made on Maturity, 3% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Interval Fund - Monthly lnterval Plan-I & Monthly Interval Plan-II (A Debt Oriented Interval Scheme. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Entry Load:, Exit Load:, if redeemed during "The Specified Transaction Period". 0.2% of the applicable NAV if redeemed at anytime other than "The Specified Transaction Period"); ICICI Prudential Interval Fund - Quarterly lnterval Plan-I, Quarterly Interval Plan-II & Quarterly Interval Plan-III (A Debt Oriented Interval Scheme. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Entry Load:, Exit Load:, if redeemed during "The Specified Transaction Period". 0.5% of the applicable NAV if redeemed at anytime other than "The Specified Transaction Period"); ICICI Prudential Interval Fund - Annual lnterval Plan-I, Annual Interval Plan-II, Annual Interval Plan-III & Annual Interval Plan-IV (A Debt Oriented Interval Scheme. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Entry Load:, Exit Load:. 2% of the applicable NAV if redeemed at anytime other than "The Specified Transaction Period"); ICICI Prudential Interval Fund II - Quarterly lnterval Plan A (A Debt Oriented Interval Scheme. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Entry Load:, Exit Load:. 0.50% of the applicable NAV if redeemed at anytime other than "The Specified Transaction Period"); ICICI Prudential Interval Fund - Half Yearly lnterval Plan-I (A Debt Oriented Interval Scheme. The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. Entry Load:, Exit Load:. 1% of the applicable NAV if redeemed at anytime other than "The Specified Transaction Period"); ICICI Prudential Child Care Plan (Study Plan: An open-ended fund. Objective is to generate income by creating a portfolio that is invested in debt, money market instruments and equity and equity related securities. Gift Plan: An open-ended Fund. Objective is to generate capital appreciation by creating a portfolio that is invested in equity and equity related securities and debt and money market instruments), Entry Load for both the plans are 1.50%. The Exit Load for both the Plans are 1%, if investment is redeemed within 3 years. (2), if investment is redeemed after 3 years but before the Unitholder attains the age of 18; ICICI Prudential Power^ (An open-ended Growth Fund. Objective is to generate long term capital appreciation through investments in core sectors & associated feeder industries), Entry Load: **, Exit Load: ; ICICI Prudential Short Term Plan (An open-ended Income Fund. Objective is to generate Income through investments in debt securities) Entry Load:, Exit Load: ; ICICI Prudential Long Term Plan (An open-ended Income Fund. Objective is to generate income through investment in range of debt and money market instruments while maintaining optimum balance of yield, safety and liquidity), Entry Load:, Exit Load: ; ICICI Prudential Sweep Plan (An open-ended Liquid Fund. Objective is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made primarily in money market and debt securities), Entry Load:, Exit Load: ; ICICI Prudential Index Fund (An open-ended index linked Growth Scheme. Objective is track the returns of S&P CNX Nifty Index through investment in stocks drawn from constituents of Nifty), Entry Load: 1% of the Applicable NAV, Exit Load: NI; ICICI Prudential Flexible Income Plan (An open-ended Income Fund. Objective is to generate income through investments in a range of debt instruments and money market instruments of various maturities with a view to maximising income while maintaining the optimum balance of yield, safety and liquidity) Entry Load:, Exit Load: Investments made: (a) before July 24, 06 - (b) on or after July 24, % of the applicable NAV, if the redemption is made within one month from the date of investment. Investment made on or after March 28, % of the applicable NAV, if the redemption/switch-out is made within 10 days from the date of investment; ICICI Prudential Dynamic Plan^ (An open-ended Equity Fund. Objective is to generate capital appreciation by actively investing in equity and equity related securities and for defensive consideration in debt / money market instruments), Entry Load: **, Exit Load: ; SENSEX Prudential ICICI Exchange Traded Fund ( SPIcE ) (An open-ended exchange listed, index linked growth scheme. Objective is to provide the investment returns that closely corresponds to the total return of securities as represented by the SENSEX). Entry Load:, Exit Load: 2.5% of applicable NAV in case of no quotes on the BSE for five trading days consecutively and an investor redeeming directly from the Fund; ICICI Prudential Floating Rate Plan Option A, B, C & D (An openended income fund. Objective is to generate income consistent with the prudent risk from a portfolio comprising substantially of floating rate debt instruments, fixed rate debt instruments swapped for floating rate return, and also fixed rate instruments and money market instruments) Entry Load :, Exit Load: For all investments made on or after April 24, 2007, an exit load of 0.25% of the applicable NAV if the redumption/switch-out is made within 10 days from the date of investment. ICICI Prudential Advisor Series (An open-ended asset allocation fund, which is of the nature of Fund of Funds, comprising there under five investment Plans, with a primary objective to generate returns through investment in underlying schemes of ICICI Prudential Mutual Fund) Entry Load: For ICICI Prudential Very Cautious Plan and ICICI Prudential Cautious Plan is and for ICICI Prudential Moderate Plan, ICICI Prudential Aggressive Plan and ICICI Prudential Very Aggressive Plan, the Entry Load is 1%, 1.50% and 1.75% respectively, Exit Load:, Further, for investments by the Fund of Funds scheme, in underlying schemes of ICICI Prudential Mutual Fund, there would not be any entry load / exit load. ICICI Prudential Gilt Fund Investment Plan - PF Option (An open-ended Medium Term Gilt Fund. Objective is to generate income through investments in Gilts of various maturities) Entry Load:, Exit load : 0.60% of a NAV in case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 days, ICICI Prudential Gilt Fund Treasury - PF Option (An open-ended Gilt Fund. Objective is to generate income through investments in Gilts of various maturities) Entry Load:, Exit load: 0.80% of a NAV in case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 day; ICICI Prudential Income Multiplier Fund (An open-ended debt fund which invests upto 30% in equity. Objective is to generate longterm capital appreciation from a portfolio that is invested predominantly in debt and money market securities and the balance in equity and equity related securities) Entry Load:, Exit Load: (i) 1% - For investments of less than Rs. 5 crores and if the investments are held for less than a period of 12 months; (ii) No Exit Load for investments of Rs. 5 crores and above; ICICI Prudential Discovery Fund^ (An open-ended Equity Fund. Objective is to generate returns through a combination of dividend income and capital appreciation by investing primarily in a well-diversified portfolio of value stocks) Entry Load: **, Exit Load: ; ICICI Prudential Long Term Floating Rate Plan Option A, B & C (An open-ended Income Fund. Objective is to generate income through investments in a range of debt and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity) Entry Load :, Exit Load : for Options B and C and for Option A % for investments of less than or equal to Rs. 1 Crore and 50

51 redemption is made on or before the completion of six months from the date of allotment of units; ICICI Prudential Emerging S.T.A.R. (Stocks Targeted At Returns) Fund^ (An openended Equity Fund. Primary objective is to generate capital appreciation by actively investing in diversified mid cap stocks. The scheme will invest primarily in companies that have a market capitalisation between 100 crores and 2000 crores.) Entry Load: **, Exit Load: The exit load structure for fresh and additional purchases for amounts less than Rs. 5 crores (including switch-ins from open ended debt schemes) made by unitholders during the period May 1, 2006 to May 31, 2006 will be (i) 0.5% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of six months or less than six months from the date of allotment; (ii), if the amount sought to be redeemed or switched out is invested for a period of more than six months from the date of allotment. This load structure will be applicable only for the purchases (including switch-ins from open ended debt schemes) made during the period May 1, 2006 to May 31, For all other purchases made either before May 1, 2006 or after May 31, 2006 no exit load will be charged on the redemptions or switch-outs made; ICICI Prudential Blended Plan (An open ended fund investing in a blend of equity, derivatives, debt and money market instruments under two Plans viz. Plan A and Plan B. Objective of Plan A under the scheme is to provide capital appreciation and income distribution to unitholders by investing in equity & equity related securities including derivatives and the balance portion in debt securities. Objective of Plan B under the scheme is to provide capital appreciation and income distribution to unitholders by investing predominantly in debt securities and the balance portion in equity & equity related securities including derivatives. Entry Load:. Exit Load: Under both the Plans viz., Plan A and Plan B, in case the amount sought to be redeemed is not invested by the investor for a period of 30 days from the date of allotment, an exit 0.50% of applicable NAV will be imposed.); ICICI Prudential Infrastructure Fund^ (An open-ended equity scheme. Objective is to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of the companies belonging to the infrastructure industries and balance in debt securities and money market instruments including call money), Entry Load: For all purchases of less than Rs.5 crore per transaction % of applicable NAV, For Purchases of Rs.5 crores and above per transaction -, Exit Load: For Investments made before November 28, (i) If the amount originally invested per transaction is less than Rs. 5 crores and the redemption request is made before completion of 6 months from the date of allotment of units %, (ii) If the amount originally invested per transaction is Rs. 5 crores or more and whether the redemption is sought within 6 months or beyond; or Any amount invested, for which the redemption request is made on or after the completion of 6 months from the date of allotment of units - No exit load; For investments made from November 28, 2005 onwards: No exit load will be charged for investments made under the Scheme on or after November 28, 2005 irrespective of the amount invested; ICICI Prudential Services Industries Fund (PISIF)^ (An open-ended equity Scheme. Objective: to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of the companies belonging to the service industry and balance in debt securities and money market instruments including call money), Entry Load: For all purchases of less than Rs.5 crore per transaction % of applicable NAV, For Purchases of Rs. 5 crores and above per transaction - ; Exit Load: For Investments made during the New Fund Offering period: (i) 1% - If the amount originally invested per transaction is less than Rs. 5 crores and the redemption request is made before completion of 6 months from the date of allotment of units. (ii) - If the amount originally invested per transaction is Rs. 5 crores or more and whether the redemption is sought within 6 months or beyond; or Any amount invested, for which the redemption request is made on or after the completion of 6 months from the date of allotment of units. For investments made after New Fund Offer: ; ICICI Prudential Fusion Fund (A close-ended diversified equity scheme, with a maturity period of 5 years, that seeks to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of companies across large, mid and small market capitalization. Entry Load:, Exit Load: For the redemptions made before the maturity date of the Scheme i.e. redemptions made during the repurchase facility period, the following exit load structure will be applicable: (i) 5% of the applicable NAV, if the amount sought to be redeemed is invested for a period of one year or less than one year from the date of allotment; (ii) 4% of the applicable NAV, if the amount sought to be redeemed is invested for a period more than one year but less than or equal to two years from the date of allotment; (iii) 3% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than two years but less than or equal to three years from the date of allotment; (iv) 2% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than three years but less than or equal to four years from the date of allotment; (v) 1% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than four years from the date of allotment but redeemed before the date of maturity of the Scheme; ICICI Prudential Equity & Derivatives Fund Income Optimiser Plan [An open-ended equity fund. Objective is to seek to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and investments in short-term debt portfolio. Entry Load (inluding SIP/STP investments):, Exit Load (inluding SIP/STP investments w.e.f. 5/01/07): (i) 0.5% of the applicable NAV, if the investment is redeemed within a period of 6 months from the date of allotment. (ii) if the investment is redeemed after 6 months from the date of allotment]; ICICI Prudential Equity & Derivatives Fund Wealth Optimiser Plan [An open-ended equity fund. Objective is to seek to provide capital appreciation and income distribution to the investors by using equity derivatives strategies, arbitrage opportunities and pure equity investments. Entry Load (inluding SIP/STP investments): (i) 2.25% of the applicable NAV, if the investment amount is less than Rs.5 crores. (ii) for investment of Rs.5 crores and above. Exit Load: 0.5% of the applicable NAV, if the redemption/switch-out is made within 6 months from the date of investment, for the investment of Rs.5 crores and above and redeemed at any time (Exit Load for SIP/STP investment is )]; ICICI Prudential Fusion Fund Series II [A closeended diversified equity Scheme, with a maturity period of 3 years, that seeks to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of companies across large, mid and small market capitalization. Asset Allocation Pattern: Equity & equity related securities 70% to 100%, Debt & Money Market Instruments* (including cash and cash equivalent) 0 to 30%]. Entry Load:, Exit Load: No exit load will be charged. However, being a close-ended Scheme, for redemptions made before the Maturity Date of the Scheme, i.e. redemptions made during the repurchase facility period, the AMC will redeem the units after recovering the balance proportionate unamortized new fund offer expenses in accordance with SEBI Circular dated April 4, ICICI Prudential Indo Asia Equity Fund [An Open-ended Diversified Equity Fund. Objective is to seeks to generate long term capital appreciation by investing in equity, equity related securities and or share classes/units of equity funds of companies, which are incorporated or have their area of primary activity, in the Asia Pacific region. Initially the Scheme will be investing in share classes of International Opportunities Fund (I.O.F) Asian Equity Fund and thereafter the Fund Manager of ICICI Prudential Indo Asia Equity Fund may choose to make investment in listed equity shares, securities in the Asia Pacific Region. Asset Allocation Pattern: 65% to 100% in Equity & equity related securities in India, 0% to 35% in Asian Equity Fund(s), Equity & Equity Related Securities or Share Classes/Units of Equity Fund & 0% to 35% in Debt instruments), Entry Load: Under Retail Option: (i) For investment of less than Rs. 5 Crores: 2.25% of applicable NAV; (ii) For investment of Rs. 5 Crores and above:. Under Institutional: ; Exit Load: Under Retail: (i) For investment of Rs. 5 Crores and above: ; (ii) For investment of less than Rs. 5 Crores made during the NFO period and redeemed before 6 months from the date of allotment: 1% of applicable NAV; (iii) For investment made after the NFO period:. Under Institutional:. For SIP/STP (Available only under Retail Option) - Entry Load: 2.25% of the applicable NAV. Exit Load: 1% if the units are redeemed before 6 months]. These are the names of the Schemes and does not in any manner indicate either the quality of the Scheme s or their future prospects and returns. Please refer to the Offer Document for risk factors before investing. Year to date ratio to average AUM for ICICI Prudential Balanced Fund, ICICI Prudential Blended Plan Plan A, ICICI Prudential Equity & Derivative - Wealth Optimiser Plan, ICICI Prudential Flexible Income Plan, ICICI Prudential FMCG Fund, ICICI Prudential Child Care Plan Gift Plan, ICICI Prudential Gilt Fund Investment Plan, ICICI Prudential Gilt Fund Investment Plan - PF Option, ICICI Prudential Gilt Fund Treasury Plan, ICICI Prudential Gilt Fund Treasury Plan - PF Option, ICICI Prudential Income Multiplier Fund, ICICI Prudential Index Fund, ICICI Prudential Long Term Plan, ICICI Prudential Monthly Income Plan, ICICI Prudential Services Industries Fund, SENSEX Prudential ICICI Exchange Traded Fund, ICICI Prudential Child Care Plan Study Plan, ICICI Prudential Tax Plan, ICICI Prudential Technology Fund, ICICI Prudential Blended Plan Plan B, ICICI Prudential Discovery Fund, ICICI Prudential Discovery Fund (Inst-I), ICICI Prudential Dynamic Plan, ICICI Prudential Dynamic Plan - (Inst-I), ICICI Prudential Equity & Derivative - Income Optimiser Plan, ICICI Prudential Equity & Derivative - Income Optimiser Plan (inst), ICICI Prudential Emerging S. T. A. R. Fund, ICICI Prudential Emerging S. T. A. R. Fund (Inst-I), ICICI Prudential Floating Rate Plan (plan A), ICICI Prudential Floating Rate Plan (plan B), ICICI Prudential Floating Rate Plan (plan C), ICICI Prudential Floating Rate Plan (plan D), ICICI Prudential Fusion Fund, ICICI Prudential Fusion Fund (Inst-I), ICICI Pru Fusion Fund - Series-II, ICICI Pru Fusion Fund - Series-II (inst), ICICI Prudential Growth Plan, ICICI Prudential Growth Plan (Inst-I), ICICI Prudential Indo Asia Equity Fund, ICICI Prudential Indo Asia Equity Fund - Inst Option, ICICI Prudential Income Plan, ICICI Prudential Income Plan (inst), ICICI Prudential Infrastructure Fund, ICICI Prudential Infrastructure Fund (Inst-I), ICICI Prudential Liquid Plan, ICICI Prudential Liquid Plan - Inst, ICICI Prudential Liquid Plan - Inst-I plan, ICICI Prudential Liquid Plan - inst plus, ICICI Prudential Liquid Plan - super inst, ICICI Prudential Long Term Floating Rate - Plan A, ICICI Prudential Long Term Floating Rate - Plan B, ICICI Prudential Power, ICICI Prudential Power (Inst-I), ICICI Prudential Short Term Plan, ICICI Prudential Short Term Plan (inst), ICICI Prudential Sweep Plan, ICICI Prudential Sweep Plan (cash) is 2.23%, 1.5%, 2.02%, 0.75%, 2.5%, 2.05%, 1.15%, 1.1%, 1.1%, 1.5%, 2.03%, 1.25%, 0.44%, 1.95%, 2.16%, 0.8%, 1.5%, 2.16%, 2.4%, 1.49%, 2.14%, 1%, 1.88%, 1%, 1.5%, 1.2%, 2.07%, 1%, 1.21%, 0.99%, 0.91%, 0.82%, 2.12%, 0.99%, 1.95%, 1.2%, 2.27%, 1%, 2.1%, 2.1%, 2.14%, 1.5%, 1.7%, 0.99%, 1.23%, 1.14%, 0.71%, 1.05%, 0.83%, 1.25%, 0.85%, 2.01%, 1%, 1.1%, 0.8%, 0.99%, 0.78% respectively. ** Entry Load for all the Equity Funds: (i) For investment of less than Rs.5 crores is 2.25% of applicable NAV; (ii) For investment of Rs.5 crores and above is. No entry load will be payable in respect of switch transaction from one equity scheme of ICICI Prudential to another equity scheme of ICICI Prudential. Further, for investments by a Fund of Funds Scheme(s) in various schemes of ICICI Prudential Mutual Fund, there would not be any entry load / exit load charged by the underlying schemes. ^ For SIP & STP Investments: Entry load of 2.25% of the applicable NAV will be charged on the amount invested under the scheme(s). Exit Load:. Load Structure on SIP & STP investments under the following schemes are as follows: ICICI Prudential Child Care Plan (Gift Plan & Study Plan) Entry Load: 1.50% of applicable NAV. Exit Load: 1.00% of Applicable NAV if the investment is redeemed within 3 years from the date of allotment, thereafter ICICI Prudential Moderate Plan Entry Load: 1% of applicable NAV; Exit Load: ICICI Prudential Aggressive Plan Entry Load: 1% of applicable NAV; Exit Load: 0.5% of the applicable NAV, if the units are redeemed before completion of 2 years from the date of allotment ICICI Prudential Very Aggressive Plan Entry Load: 1% of applicable NAV; Exit Load: 0.75% of the applicable NAV, if the units are redeemed before completion of 2 years from the date of allotment ICICI Prudential Index Fund Entry Load: ; Exit Load: 0.5% of the applicable NAV, if the investment is redeemed within 1 year from the date of allotment, thereafter No entry or exit load will be charged on the SIP investments under ICICI Prudential Flexible Income Plan, ICICI Prudential Long Term Plan, ICICI Prudential Income Plan, ICICI Prudential Monthly Income Plan, ICICI Prudential Income Multiplier Fund, ICICI Prudential Very Cautious Plan and ICICI Prudential Cautious Plan. Exit Load for fresh and additional purchases (including SIPs and STPs) made in the schemes given hereinbelow during September 15, 2006 to October 16, 2006, the following will be applicable: ICICI Prudential Power, ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI Prudential Balanced Fund (i) 0.50% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of six months or less than six months from the date of allotment. (ii) for investment of Rs. 5 crores and above. ICICI Prudential Income Multiplier Plan (i) 1.25% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of less than twelve months from the date of allotment. (ii) for investment of Rs. 5 crores and above. ICICI Prudential Monthly Income Plan (i) 0.75% of the applicable NAV if the investment is made for an amount of less than or equal to Rs. 10 Lakhs and is invested for a period of six months or less than six months from the date of allotment. (ii) for investment of above Rs. 10 Lakhs. ICICI Prudential Child Care Plan Gift and Study Option 1.25% of the applicable NAV if invested for a period of three years or less than three years from the date of allotment. The exit load structure will also be applicable for switch-ins to any of the above schemes from the following open-ended debt schemes alone: (a) ICICI Prudential Liquid Plan (b) ICICI Prudential Floating Rate Plan (c) ICICI Prudential Sweep Plan - Cash Option. There will be no change in the exit load structure for all purchases, SIPs, STPs, Switch-ins made either before September 15, 2006 or after October 16, For all investments made under ICICI Prudential Power, ICICI Prudential Services Industries Fund and ICICI Prudential Equity & Derivatives Fund Wealth Optimiser Plan on and from August 01, 2007 (excluding investments made through Systematic Investment Plan and Systematic Transfer Plan facility) no Exit Load will be charged on redemption/ switch-out of such investments. Vide notice dated August 29, 2007, investments made on or after September 01, 2007 through SIP and STP facilities available under ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI Prudential Emerging S.T.A.R. (Stocks Targeted At Returns) Fund, ICICI Prudential Growth Plan, ICICI Prudential Power, ICICI Prudential Services Industries Fund and ICICI Prudential Infrastructure Fund, no Exit Load will be charged on all the new applications made under the scheme. Vide addendum dated 5th October, 2007, for all the fresh investments made on or after October 08, 2007 under ICICI Prudential Infrastructure Fund, ICICI Prudential Dynamic Plan and ICICI Prudential Equity & Derivatives Fund Wealth Optimiser Plan, an exit load of 0.50% of the applicable NAV will be charged, if redemption/switch-out of the investment is made within 6 months from the date of allotment of units under the above mentioned schemes. Vide addendum dated 9th October, 2007, for all fresh investments (including investments through SIP/STP) of Rs. 5 crores or more made under ICICI Prudential Infrastructure Fund, ICICI Prudential Dynamic Plan and ICICI Prudential Equity & Derivatives Fund - Wealth Optimiser Plan on or after October 10, 2007, no exit load will be charged.

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