The Government of India had, on January 24, 2006, sanctioned the Scheme of Amalgamation of The Ganesh Bank of Kurundwad Ltd. with The Federal Bank Ltd. However, the implementation of the Scheme of Amalgamation had been stayed in terms of the Bombay High Court orders dated January 27, 2006 and April 5, 2006 and the Supreme Court order dated May 1, 2006. The Supreme Court’s order dated August 28, 2006 has brought into force the said Scheme of Amalgamation.

Accordingly, the Government of India has today issued a notification bringing the Scheme of Amalgamation of The Ganesh Bank of Kurundwad Ltd. with The Federal Bank Ltd. into force with effect from September 2, 2006. All the branches of The Ganesh Bank of Kurundwad Ltd. will function as branches of The Federal Bank Ltd. with effect from this date.

Customers, including depositors of The Ganesh Bank of Kurundwad Ltd., will be able to operate their accounts as customers of The Federal Bank Ltd. with effect from September 2, 2006. The Federal Bank Ltd. is making necessary arrangements to ensure that service, as usual, is provided to the customers of The Ganesh Bank of Kurundwad Ltd.

Deputy General Manager