ICICI Prudential Life Insurance, India’s leading private life insurance company, today opened its representative office in Dubai, becoming the first private life insurer from India to open an office in the Emirate. This is ICICI Prudential’s second overseas office, after its first overseas office in the Kingdom of Bahrain, and marks a move to further strengthen the company’s ability to cater to the vast non-resident Indian (NRI) population in the Gulf.

ICICI Prudential’s office in Dubai will be able to service the 1.4 million discerning NRIs in UAE. The office will promote and service the life insurance needs of the NRIs through ICICI Prudential’s wide range of products, which include wealth creation, education insurance, retirement solutions and health solutions.

ICICI Prudential’s Dubai office was inaugurated today by Mr. Venu Rajamony, Counsel-General of India, Dubai, in the presence of Mr. Bhargav Dasgupta, Mr. Amey Saxena, Senior Vice President & Head - Priority Circle & GCC, ICICI Prudential Life Insurance and other senior officials from ICICI Prudential Life Insurance and ICICI Bank.

Speaking at a press conference to mark the launch of the Dubai office, Mr. Bhargav Dasgupta, Executive Director, ICICI Prudential Life Insurance, said, “ICICI Prudential is delighted to announce the opening of its Dubai office. GCC is an important region for ICICI Prudential’s future growth plans and UAE, as one of the fastest growing economies with a large NRI population, is key to this growth. Today we are delighted to bring our brand and service promise closer to Indians who live and work in UAE. As we establish our presence here, we hope to partner with them as they secure the future of their families and themselves here as well as in India.”

He added, “The booming UAE economy has resulted in greater wealth for NRIs, most of who are seeking to use their enhanced earnings to secure the future of their families back home in India, be it for their retirement planning, child’s education or wealth creation needs. ICICI Prudential’s range of insurance products is ideally suited to meet all these needs in a comprehensive manner.”

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About ICICI Prudential Life Insurance

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For the financial year ending March 31, 2007, the company garnered Rs. 4,843 crore of weighted retail + group new business premiums and crossed the 4 million policies milestone during the month. The company has a network of over 580 offices, over 234,000 advisors; as well as 23 bank partners. It is also the only life insurer in India to be assigned AAA (Ind) credit rating from Fitch Ratings. For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com.

Except for the historical information contained herein, statements in this release which contain words or phrases such as “will”, “would”, “aim”, “will likely result”, “believe”, ”expect”, “will continue”, “anticipate”, ‘”estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objectives”, “goals”, “project”, “should”, “will pursue”, and similar expressions or variations of such expressions may constitute “forward looking statements”. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to ICICI Prudential’s ability to successfully implement its strategy in the field of insurance, our growth and expansion, technological changes, investment income, cash flow projections, our exposure to market risks as well as the other risks detailed in the reports filed by ICICI Bank (joint promoters of ICICI-Prudential Life Insurance Company Limited) with the Securities and Exchange Commission of the United States. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.