May 2006

Chola Mutual Fund is now DBS Chola Mutual Fund.

This follows the conversion of the fund’s sponsor Cholamandalam Investment and Finance Limited, into Cholamandalam DBS Finance Limited, a joint venture of the Murugappa Group with DBS Bank of Singapore, the largest bank in South East Asia.

Accordingly, all existing schemes of Chola Mutual Fund have been rechristened. For.eg. Chola Contra Fund is now called DBS Chola Contra Fund. All necessary regulatory approvals have been received by the Mutual Fund. Further, Cholamandalam AMC Limited, the investment manager to the Fund, will now be DBS Cholamandalam Asset Management Limited.

Ms Amy Yip, Managing Director and Head, Wealth Management at DBS Bank said, “DBS Asset Management (DBSAM) welcomes and applauds the renaming of the Chola Mutual Fund series into the DBS Chola Mutual Fund series. We see this as a first step in the cooperation between ourselves in the Indian fund management market; and we look forward to many more collaborative projects as the industry continues its exponential growth”.

Mr Sashi Krishnan, Chief Executive, DBS Chola MF said, “With this alliance, DBS Chola Mutual Fund has the unique advantage of working with a large and reputed Asian partner. The company can offer superior value to our investors on all fronts. In the fast moving wealth management business, DBS Chola MF is well poised to adapt to the changing market needs in terms of offering products and access to global markets. We are delighted that all of our stakeholders can benefit from this partnership.”