------------------------------------------------------------------------------------------------------------------------------
                           Industrial Securities- Ordinary Shares
                           ---------------------------------------------------------------------------------------------------
Average of Months                   Yields                              Index Numbers of Yields
                              (Per cent per annum)                           (1980-81 = 100)
----------------------------------------------------------------------  ------------------------------------------------------
                  All India Mumbai  Calcutta Chennai  Ahmedabad  Delhi  All India Mumbai  Calcutta Chennai  Ahmedabad  Delhi
------------------------------------------------------------------------------------------------------------------------------
        1             2        3        4        5        6        7        8        9       10       11       12       13
------------------------------------------------------------------------------------------------------------------------------
     1990-91          2.59     2.36     2.86     2.26     2.44     2.73     45.5     40.0     52.7     38.3     46.1     52.6

     1993-94          2.19     1.65     1.88     1.97     5.96     1.85     38.4     27.9     34.6     33.3    112.8     35.6

     1994-95          1.79     1.40     1.62     1.55     3.88     1.77     31.4     23.8     29.8     26.2     73.4     34.2

     1995-96          3.06     2.67     2.78     2.72     7.28     2.23     53.6     45.3     51.3     46.0    137.9     42.8

   December 1995      3.60     2.90     3.59     2.88     9.83     2.38     63.0     49.1     66.3     48.7    186.2     45.9

   January 1996       3.73     3.11     3.68     2.99     9.85     2.37     65.3     52.8     68.0     50.7    186.6     45.7

   August 1996        4.06     3.91     2.95     3.69     9.62     2.91     71.1     66.3     54.5     62.5    182.2     50.9

  September 1996      4.24     4.09     3.20     3.87     9.62     3.12     74.3     69.4     59.0     65.5    182.3     54.7

   October 1996       4.57     4.58     3.48     4.25     9.66     3.28     80.0     77.7     64.2     71.9    183.0     57.5

   November 1996      4.77     4.82     3.81     4.23     9.76     3.50     83.5     81.7     70.2     71.6    184.9     61.2

   December 1996      4.93     4.97     3.95     4.23     9.91     3.82     86.3     84.3     72.9     71.6    187.6     66.9

   Janaury 1997       4.46     4.20     3.56     3.97     9.75     3.63     78.1     71.1     65.7     67.2    184.8     63.6
------------------------------------------------------------------------------------------------------------------------------