Dubai International Capital makes substantial investment in ICICI Bank Limited

Notes and media contacts

About Dubai International Capital LLC
Established in 2004, Dubai International Capital LLC ('DIC') is a Dubai-based international investment company. It is a wholly owned subsidiary of Dubai Holding. DIC manages an international portfolio of diverse assets that provide its stakeholders with value growth, diversification, and strategic investments and relationships.

DIC's investments have included: £800 million acquisition of The Tussauds Group (UK), one of the largest operators of visitor attractions in Europe and its subsequent partnership with Merlin Entertainments Group "Merlin" which positioned the combined Group as the world's second biggest visitor attractions operator after Disney. DIC retained a 20% stake in the combined company. DIC's investments also included £675 million acquisition of Travelodge (UK), Britain's fastest growing budget hotel company, US$ 1 billion stake in DaimlerChrysler, one of the world's leading carmakers; £700 million acquisition of Doncasters Group (UK), an industrial manufacturing firm that produces precision engineering components across various industrial sectors; and €850 million acquisition of Mauser AG, a world market leader in industrial packaging with approximately 3,700 employees operating in more than 50 locations across Europe, North America, Latin America and Asia; as well as substantial stakes in EADS N.V., the European aeronautic, space and defence group and HSBC Holdings plc, the world's pre-eminent financial services firm.

DIC is also a substantial investor in the Middle East. Investments include Ishraq, a US$150 million investment company that was formed to bring the Holiday Inn Express brand of hotels to the Gulf Co-operation Council (GCC) countries except Saudi Arabia; and MENA Infrastructure Fund, a US$500 million fund targeting investment opportunities in infrastructure projects in the Middle East and North Africa region. In 2005, DIC launched Jordan Dubai Capital, a $300 million investment company that targets private equity opportunities in the Jordanian economy.

About ICICI Bank
ICICI Bank (NYSE:IBN) is India's second largest bank and largest private sector bank with over 50 years presence in financial services and with assets of Rs. 3,446.58 billion as on March 31, 2007. The Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, private equity and asset management. ICICI Bank is a leading player in the retail banking market and services its large customer base through a network of over 745 branches and extension counters, 3340 ATMs, call centres and internet banking (www.icicibank.com) to ensure that customers have access to its services at all times.

For media queries, please contact:

Dubai International Capital LLC
Hazar Al-Zaki
Or Jehad Saleh

Jiwin
Reem Sadek
+971 4 361 3333