Pune; June 25, 2003

ICICI Prudential Life Insurance, India''s leading private life insurer, today opened its second branch at Swargate in Pune.  The company was the first amongst private life insurers to begin operations in the city in March 2001. Since then, ICICI Prudential has ramped up operations and currently has a force of nearly 1,000 advisors in this fast growing market.

Speaking at the inauguration, Mr Bill Lisle, Chief Agency Officer, ICICI Prudential said, 'As a leader amongst private life insurer, our strategy is to expand our presence in a systematic manner.  ICICI Prudential has already established a strong presence in Pune and we expect to see substantial growth in our business from this new branch'.

ICICI Prudential is the No. 1 private life insurance player in India, with 37% market share amongst all private players and 23% of the total pensions market. Pune has already emerged as a strong base for the company to spearhead its operations in Maharasthra.  The new branch will also open up a host of job opportunities within the sales and operations areas; as well as for those seeking to be life insurance advisors.  There are already about 600 ICICI Prudential advisors attached to the new branch in Pune.

In recent times, insurance has graduated from being viewed as a mere tax saving tool, to a versatile protection-oriented and wealth creation investment tool that also offers tax benefits. ICICI Prudential offers a variety of need-based insurance solutions to suit the varied needs of individuals at different stages in their lives - be it securing the future of their families, asset accumulation, providing for their children, or saving for their retirement. Each product can be customised to meet specific life-stage requirements, and is sold after assessing the needs and aspirations of the customers.

The company pioneered the highly flexible market-linked plans, which give investors complete control over their policies  - to change their protection and investment levels, to switch between funds and other benefits. LifeTime, LifeLink and retirement plans like LifeTime Pension and LifeLink Pension are some such plans suitable for long-term savings and asset accumulation. Another unique offering is SmartKid - an ideal product to plan and provide for a child''''s higher education, whatever the uncertainty.