ICICI Bank expands network in Vancouver, Canada

VANCOUVER, Oct. 3, 2005

ICICI Bank Canada Expands into Western Canada with First Downtown Vancouver Branch to serve NRI cusomers. ICICI Bank will have the first branch in Western Canada.

The Howe Street location, in downtown Vancouver, opening its doors this week, is part of ICICI Bank Canada's expansion plans to reach all major Canadian business centres. The Branch is located in close proximity to the Indian Consulate in Downtown
Vancouver. Since December 2003, ICICI Bank Canada has opened four branches located in the Greater Toronto Area and now Vancouver will be the fifth Canadian branch.

On Wednesday, October 5, 2005, in the presence of over 100 local and
international dignitaries and the Bank's Canadian board of directors, Arne
Gulstene, Branch Manager, Downtown Vancouver Branch, and his colleagues will
host a reception. Mr. K.V. Kamath, Managing Director and CEO, Mrs. Lalita
Gupte, Joint Managing Director and Mr. Bhargav Dasgupta, Senior General
Manager, International Banking Group, ICICI Bank Limited, the parent company,
will be traveling from the global headquarters in Mumbai, India, to Vancouver
for this inauguration. ICICI Bank Canada President and CEO, Hari Panday, and
other Canadian executives will be onsite to officially introduce ICICI Bank
Canada to the Greater Vancouver community.

Since inception, ICICI Bank Canada has consistently lead the full-service
banks in Canada by offering one of the highest deposit rates and it has become
known for its attractive and straightforward offerings to its loyal and new
customers from coast-to-coast. As an example, the Bank recently announced an
increase in its HiSAVE Savings Account to 3% per annum - with no minimum
balance requirements, no account maintenance fees and no lock-in periods.
Furthermore, the same rate applies to both Personal and Business Savings
accounts, whether held in Canadian or US Dollars. ICICI Bank Canada guarantees
the interest rate of 3% up to March 31, 2006.

In less than two years, ICICI Bank Canada has amassed over 30,000
Canadian customers, aggressively building its branch network, a robust online
banking platform, telephone banking, ATMs, credit cards and a full suite of
personal and commercial banking products. This foray into Western Canada has
started with the Howe Street branch and an additional site in British Columbia
has already been identified in the City of Surrey, in the lower mainland.
ICICI Bank Canada is creating a strong presence as it widens its
offerings in Canada. With five language options available to customers and
non-customers at its ABMs and staff speaking 17 languages, ICICI Bank Canada
has become a highly acceptable brand and a competitive institution.

About ICICI Bank Canada: ICICI Bank Canada, a wholly-owned subsidiary of
ICICI Bank Limited is a member of Canada Deposit Insurance Corporation (CDIC)
and is a full-service direct bank offering a comprehensive suite of personal
and commercial banking, trade finance and Non-resident Indian services. The
bank is supported by a state-of-the-art electronic banking platform
(www.icicibank.ca), a 24-hour toll free customer contact centre and
proprietary ABMs. ICICI Bank Canada branches are currently located in the
Greater Toronto Area: Toronto, Brampton, Scarborough and Toronto East (Little
India)...Source CNW Group