assets under management rs. 48,736.57 crore (as on july 31

Assets Under Management Rs. 48,736.57 Crore (As on July 31, 2007)

3

O v e r v i e w

Nilesh ShahDeputy Managing DirectorChief Investment Officer

Fixed Income Market SnapshotImpact on Interest Rates

FACTORS Short Term Medium Term(1-3 Months) (3-6 Months)

Inflation POSITIVE NEUTRAL

WPI inflation since May 2007 has remained within RBI's comfort range of 4-4.5%.Inflation is expected to rise in the second half when credit picks up and the high baseeffect starts receding. Increasing global crude prices may also add inflationary pressuregoing forward.

Money Supply POSITIVE NEUTRAL

YTD M3 growth of 21.7% as on July 20, 2007 was far higher than the RBI's target range of17-17.5%. The excess M3 growth can be attributed to intervention by the RBI in the forexmarket to neutralize large forex flows. The overnight call money market rates are expected torise to reverse repo rate level as the RBI has removed the cap of Rs.30 billion on the reverse repoamount. The banking system is full of liquidity and is well geared to handle busy season creditdemand.

Credit Demand POSITIVE NEUTRAL

The credit growth has started moderating due to higher interest rates with YTDincremental C.D. ratio falling to 70% from over 100% a year back. The credit pick-upmay see strong upsurge in the next few months as festival season demand picks upand Indian corporates resort to local borrowing due to widening of credit spreads inthe offshore market.

Government Borrowings POSITIVE NEUTRAL

Supply of Gilts via MSS and scheduled auctions was robust but failed to meet strongregulatory demand from the participants. With the government borrowing skewedtowards the first half of the year demand for SLR is expected to run ahead of supplyunless the government resorts to unscheduled issuances. In such a scenario prices ofG-sec are biased upward subject to (a) the government maintaining status quo on itsissuance calendar and (b) RBI refraining from SLR cuts.

Foreign Exchange Market POSITIVE NEUTRAL

India's forex reserves increased to USD 225.35 billion as on July 27, 2007 on back of robustinflows. The RBI is trying to stop Rupee appreciation by active intervention in the forex market.We expect debt flows especially on the ECB side to slow down in view of widening ofspreads.

RBI Policy NEGATIVE NEUTRAL

The RBI is successfully accomplishing the difficult job of managing currency, maintaininginflation and ensuring growth momentum. The Q2FY08 credit policy raised CRR by0.50% to absorb liquidity and anchor inflationary expectation. The RBI has retained theright of preemptive action if any one of the variables disturbs the equilibrium. Webelieve the RBI will be influenced by global factors especially by the widening of creditspreads & Fed's reaction to the US sub-prime loan issues.

Market Sentiment POSITIVE NEUTRAL

The market sentiment was generally bullish due to ample liquidity and favorableinflation trend. Even the announcement of CRR hike in credit policy failed to dampenthe market sentiment. We expect sentiments to remain bullish and push the yields tofurther lower level over a period of time.

OUTLOOK

We expect the RBI to manage liquidity in a manner, which is conducive forgrowth as well as stable inflation. Market expects US Fed to cut rates due tosub-prime loan issues in the rest of CY07.

Widening of credit spreads in offshore market will make ECB more expensiveand may prompt corporates to borrow in local markets.

We expect short term yields to rise above reverse repo rate level as the cap ofRs.30 billion on the reverse repo amount is removed from August 6, 2007.

We expect the yield curve to rise in the short end and fall in the medium tolong end. The curve will become flater over a period of time. We expect 10year G-sec yields to move towards 7.50% level over the next few months onthe back of ample liquidity, likely rate cut by US Fed and stable inflation.

We recommend investors to look at long maturity gilt funds at current level ofyields with 6 to 12 months investment horizon.

Market Sentiments

July saw one of the largest FII inflows into the equity markets (USD 5.85 billion as againsta total net inflow of USD 10.20 billion for YTD 2007) taking Sensex to all time high of 15795.Metals and Capital Goods stocks saw the maximum positive movement for the month, whileHealthcare and Consumer Durables remained laggards.

On the back of better-than-expected corporate results, overall market sentiments had beenpositive during the month. Even the CRR hike of 50 basis points did not have a significanteffect on the performance of the banking sector as banks were already bearing the cost ofundeployed excessive liquidity. However, global weakness and risk aversion towards theend of the month led to re-allocation of liquidity from riskier assets including emergingmarket equities to risk free US treasury bonds.

Global Events

For equity market investors, this is a testing time. While long-term outlook continues to favorbulls, tight liquidity and demanding valuations color the short-term outlook. The concerns onUS sub prime loans and their potential effect on the US and in turn the rest of the world isseverely feared, as is evident by a large-scale volatility across the world over the last fewdays. In our view, the US sub-prime woes alone are insufficient to spell the end of the globalequities bull run. Rather, stretched short-term valuations and shrinking liquidity (for the firsttime since 2000), are fast becoming two great excuses for triggering the correction.

In the days to come, we expect global markets to remain volatile as concerns on the US subprime issue play out. Further market correction should also not be ruled out. We arehowever not unduly concerned as global growth is no longer driven by the US, but byemerging economies. As long as growth elsewhere remains robust, the fall out from the USsub prime segment should not derail global growth.

OUTLOOK

In the short-term, markets may correct if liquidity flows out and we may seeconsolidation between 14000-14500 levels. The market valuations have been stretchedfor some time and a correction is expected. We remain cautious in the short term.However, the long-term fundamentals of the Indian economy and the corporate sectorremain intact.

The Market

Investments by Institutions Jun-07 Jul-07in cash segment (Rs. Cr.)FIIs (Net Purchases / Sales) 7167 18469MFs (Net Purchases / Sales) 700 -900Avg Daily Open Interest(Rs. Cr.)

Index Futures 16411 17923

Stock Futures 32714 39917

Index Options 14506 17848

Stock Options 2880 3328

Total 66511 79016

Valuation Ratios Jun-07 Jul-07P/E ratio- Sensex 21.09 21.03P/E ratio- Nifty 20.6 20.49Price/Book Value Ratio-Sensex 4.78 5.07Price/Book Value Ratio-Nifty 5.4 5.31Dividend Yield-Sensex 1.13 1.04Dividend Yield-Nifty 1.11 1.07

Avg Daily Volumes (Rs. Cr.)

CASH SegmentBSE 4358 5422NSE 9208 12147Total 13566 17569Derivative SegmentNSE 38407 46139Avg Advance Decline RatioBSE 1.04 1.02NSE 1.01 0.93

Indices Movement % change % changeMay-June 07 June-July 07

Sensex 0.73 6.14Nifty 0.51 4.89BSE Healthcare -0.94 -2.31BSE Consumer Durables 1.33 -1.86Bankex 5.30 1.74BSE Teck Index 0.49 2.31BSE Mid Cap 4.90 2.93BSE Auto -5.43 4.09BSE Small Cap 4.28 4.41BSE PSU 0.92 5.26BSE Oil & Gas -2.17 6.61BSE FMCG -4.09 7.87BSE Capital Goods 10.27 8.32BSE Metals 1.91 9.67

Three cheers for Corporate India. Hip hip hurray....

Equity Market SnapshotFundamentals

Corporate results for the quarter ending June 07 were ahead of market expectations. A largepart of the gains were directly or indirectly attributable to currency gain on forex loans. EBITDAgrowth for most companies however was in-line with estimates. The operating profit andoperating margin both were up by 19.20% and 18.11% respectively. Profits have grown on anaverage 36% YoY for Q1FY08 for 447 companies of the BSE 500 companies.

Margin expansion has helped several sectors like telecommunications, steel, capital goods &engineering and construction perform well. While telecom sector benefited by the growingsubscriber base and economies of scale, steel and cement companies gained from higherrealisations. The capital goods, engineering and construction sectors continued to remainsupported and boosted by growing capex and infrastructure related investment in buildingroads, dams and power plants. Meanwhile oversupply (sugar sector), appreciating rupee (IT,textiles, aluminimum etc.) and higher interest rates (auto sector) affected the performance ofcertain key sectors. On the whole, despite these odds, the overall performance of India Inc hasbeen good. This may take the 2008-09 Sensex EPS to above 1000, as against a consensusestimate of 960.

The news flow on capacity expansion, acquisitions, further investments, huge orders etc.continues:

• Capacity expansion and investments: NTPC to invest RS10bn in Aravali Power; JindalSteel to invest $2.1bn in Latin America; RPG group to invest Rs 120 bn in power

• Acquisitions: Tata Motors and M&M bid for Jaguar and Land Rover; Wipro Consumeracquired Unza Holdings, a Singapore based FMCG Company for Rs.10.10 bn

• Strong order books: GMR Infrastructure has secured the tender for developing the SabihaGokcen International (SGA) airport in Istanbul, Turkey

Technicals

4

MARKET CHEAP ATTRACTIVE FAIR

FAIR

VALUE

PLUS

STRETCHED BUBBLE

Exit Neutral Neutral -

5%-10%

EQUITY

ALLOCATION

Under Invested

70%-80% 55%-65% 50% 35%-45% 15%-25%

Over Invested Neutral +

Suggested Equity Allocation (Assuming 50% equity allocation as neutral)

ICICI Prudential Fusion Fund-Series IIDiversified Fund (Close - Ended)

Snapshot:Fund Manager : Anand ShahIndicative Investment Horizon: 3 yrs and moreInception date: 31-03-2007Fund Size: Rs. 1,144.05 croresNAV (As on 31-July-2007):Growth option : Rs. 11.53Dividend option : Rs. 11.53Institutional Growth Option : Rs. 11.55**Expense Ratio:Retail option : 1.99%Institutional option-I : 1.25%**This is a close approximation of the number.

Style Box

Style Value Blend Growth Size

Large

Mid

Small

Figures as on 31-July-2007

WHY SHOULD ONE INVEST?Exploit the long-term investment potential

in small & mid-cap segment

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVAuto Ancillaries 1,679.58 1.47%Ceat Ltd 1,679.58 1.47%Banks 8,542.35 7.47%HDFC Bank Limited 2,701.35 2.36%Punjab National Bank 2,318.98 2.03%Federal Bank Ltd 1,958.00 1.71%ICICI Bank Ltd 1,564.02 1.37%Cement 2,023.95 1.77%Birla Corporation Ltd 2,023.95 1.77%Chemicals 3,141.59 2.75%

• Time Technoplast Ltd 3,141.59 2.75%Construction 2,301.41 2.01%Nagarjuna Construction Company Ltd 2,301.41 2.01%Consumer Non-Durable 632.35 0.55%Pidilite Industries Ltd 632.35 0.55%Ferrous Metals 5,048.39 4.41%Usha Martin Ltd 1,983.74 1.73%Ratnamani Metals & Tubes Ltd 1,752.15 1.53%Tata Steel Ltd 1,312.50 1.15%Fertilizers 1,856.66 1.62%Coromandel Fertilisers Ltd 1,856.66 1.62%Finance 3,592.75 3.14%

• SREI Infrastructure Finance Ltd 3,592.75 3.14%Healthcare Services 77.40 0.07%Vimta Labs Ltd 77.40 0.07%Industrial Capital Goods 2,646.05 2.30%AIA Engineering Ltd 2,646.05 2.30%Industrial Products 5,872.65 5.13%Kirloskar Oil Engines Ltd 2,136.65 1.87%Esab India Ltd 1,902.99 1.66%H.E.G. Ltd 1,833.01 1.60%Media & Entertainment 17,014.62 14.87%

• Zee Entertainment Enterprises Ltd 4,766.11 4.17%• Deccan Chronicle Holdings Ltd 4,488.75 3.92%

Entertainment Network India Ltd 2,502.76 2.19%HT Media Ltd 2,072.38 1.81%Television Eighteen India Ltd. 1,661.28 1.45%Prime Focus Ltd 1,523.34 1.33%Non-Ferrous Metals 3,455.42 3.02%Sterlite Industries (India) Limited 2,364.16 2.07%Sterlite Industries Limited-Futures 1,091.26 0.95%Oil 2,404.67 2.10%Cairn India Ltd 2,404.67 2.10%Paper 2,057.61 1.80%Ballarpur Industries Limited 1,579.88 1.38%Ballarpur Industries Limited-Futures 477.73 0.42%Petroleum Products 4,733.75 4.14%

• Reliance Industries Ltd 4,733.75 4.14%Pharmaceuticals 6,500.26 5.68%

• Dishman Pharmaceuticals & Chemicals Ltd 3,460.20 3.02%Cadila Healthcare Ltd 3,040.06 2.66%Retailing 7,414.48 6.48%

• Subhiksha Trading Services Pvt Ltd 5,000.00 4.37%Pantaloon Retail (India) Ltd 2,414.48 2.11%Software 16,630.89 14.54%

• Tata Consultancy Services Ltd 3,873.61 3.39%• Infosys Technologies Ltd 3,754.02 3.28%

Sasken Communications Technologies Ltd 2,794.53 2.44%MphasiS Ltd 2,431.85 2.13%3i Infotech Ltd 1,919.13 1.68%Allied Digital Services Ltd 1,283.00 1.12%Geometric Software Solutions Ltd 574.75 0.50%Telecom Services 3,604.40 3.15%

• Bharati Airtel Ltd. 3,604.40 3.15%Textiles - Cotton 1,045.01 0.91%Vardhaman Textiles Ltd 1,045.01 0.91%CPs, CDs and Term Deposits 1,611.30 1.41%ICICI Bank Ltd 1,611.30 1.41%Cash, Call, CBLO & Reverse Repo 1,952.42 1.71%Other Current Assets 8,564.68 7.49%Total Net Assets 114,404.64 100.00%

• Top Ten Holdings

Valuation levels of the Sensex based on Q2FY09 earnings estimate of Rs.908

Performance Record *- Growth Option

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX NftyIndex. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

*Pertains to the equity investments only.

Sector Allocation*

15.30%

18.51%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%18.00%20.00%

Since Inception

Fusion Fund - series II S&P CNX Nifty

Quantitative Indicators:

Average P/E : 22Average P/BV : 3.81Average Dividend Yield: 0.86Annual Portfolio Turnover Ratio: 1.16 timesPortfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have notcompleted a year). The figures are not netted for derivative transactions.

14.87%14.54%

7.47%6.48%

5.68%5.13%

4.41%4.14%

3.15%3.14%3.02%

2.75%2.30%

2.10%2.01%

1.80%1.77%1.62%1.47%

0.91%0.55%

0.07%

0.00% 4.00% 8.00% 12.00% 16.00%

Media & EntertainmentSoftware

BanksRetailing

PharmaceuticalsIndustrial Products

Ferrous MetalsPetroleum Products

Telecom ServicesFinance

Non-Ferrous MetalsChemicals

Industrial Capital GoodsOil

ConstructionPaper

CementFertilizers

Auto AncillariesTextiles - Cotton

Consumer Non-DurableHealthcare Services

85009350

1020011050119001275013600144501530016150170001785018700

1-Ja

n-06

25-J

an-0

618

-Feb

-06

14-M

ar-0

67-

Apr-0

61-

May

-06

25-M

ay-0

618

-Jun

-06

12-J

ul-0

65-

Aug-

0629

-Aug

-06

22-S

ep-0

616

-Oct

-06

9-N

ov-0

63-

Dec-

0627

-Dec

-06

20-J

an-0

713

-Feb

-07

9-M

ar-0

72-

Apr-0

726

-Apr

-07

20-M

ay-0

713

-Jun

-07

7-Ju

l-07

31-J

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7

CHEAP 9X -11X

ATTRACTIVE 12X -14X

FAIR 15X -17X

FAIR VALUE PLUS 18X -20X

STRETCHED 21X -22X

Our recommendation to investors is as follows;• In a fair value market plus, maintain a neutral allocation towards equities• Do not try to time the market, as high short-term volatility cannot be ruled out• Asset allocation and Systematic Investment Plans are the best way to safeguard

against volatility. They ensure optimal returns and not the maximum return in volatilemarkets

• Investors should look at a mix of large and mid cap funds for 3-5 years horizon onsystematic investment basis

Asset Allocation Guide:This asset allocation guide helps you to determine the suggested equity exposure atdifferent valuations levels based on the Sensex.

5

SIP Returns: As on 31-July-2007

Period SIP Start Date Total Amount Total No. Market Value SIPInvested of Units Returns

1 Year SIP 31-Aug-06 12,000.00 188.44 13,850.11 35.53%3 Year SIP 31-Aug-04 36,000.00 941.74 69,216.76 50.12%Since Inception 31-Oct-02 58,000.00 2,485.72 182,697.44 51.37%Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002, 2004 & 2006.

Quantitative Indicators:Average P/E : 19Average P/BV : 4.00Average Dividend Yield : 1.29Annual Portfolio Turnover Ratio : 2.49 times

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVSnapshot:

Fund Manager : Sankaran NarenIndicative Investment Horizon: 3 yrs & moreInception date: 31-10-2002Fund Size: Rs. 2,415.83 croresNAV (As on 31-July-2007):Growth option : Rs. 73.4988Dividend option : Rs. 22.9898Institutional Option-I : Rs. 11.1608**Expense Ratio:Retail option : 1.89%Institutional option-I : 1.00%

**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Medium term investment of funds for capital appreciation

by managing cash and equity portfolio

Auto 11,088.48 4.59%• Mahindra & Mahindra Ltd 7,288.00 3.02%

Maruti Udyog Ltd 3,800.48 1.57%Auto Ancillaries 1,134.05 0.47%Sundaram Clayton Ltd 1,134.05 0.47%Banks 19,918.35 8.26%

• ICICI Bank Ltd 9,047.70 3.75%• Federal Bank Ltd 7,480.45 3.10%

Punjab National Bank 2,065.55 0.86%State Bank of India Ltd 811.93 0.34%Punjab National Bank-Futures 512.72 0.21%Cement 3,620.48 1.50%Orient Paper & Industries Ltd 3,167.73 1.31%Hyderabad Industries Ltd 452.75 0.19%Construction 2,388.80 0.99%Jaiprakash Associates Ltd 1,564.82 0.65%Patel Engineering Ltd 823.98 0.34%Consumer Non-Durable 18,114.47 7.50%

• ITC Limited 11,113.29 4.60%Tata Tea Ltd 4,186.18 1.73%Marico Industries Ltd 2,815.00 1.17%Ferrous Metals 7,739.59 3.20%Steel Authority of India Ltd 5,985.43 2.48%Mukand Ltd 1,265.25 0.52%Tata Steel Ltd 488.91 0.20%Fertilizers 2,155.00 0.89%Coromandel Fertilisers Ltd 2,155.00 0.89%Hotels 2,789.00 1.15%Indian Hotels Company Ltd 2,789.00 1.15%Industrial Capital Goods 4,073.18 1.69%Texmaco Ltd 4,073.18 1.69%Industrial Products 13,293.77 5.50%Jain Irrigation Systems Ltd 4,328.82 1.79%Greaves Cotton Limited 3,994.81 1.65%Sterlite Optical Technologies Ltd 2,198.00 0.91%AIA Engineering Ltd 1,881.42 0.78%Cummins India Ltd 890.72 0.37%Media & Entertainment 16,086.53 6.66%

• Deccan Chronicle Holdings Ltd 12,639.38 5.23%Zee Entertainment Enterprises Ltd 3,447.15 1.43%Non-Ferrous Metals 3,960.60 1.64%Sterlite Industries (India) Limited 3,960.60 1.64%Oil 9,844.56 4.08%Oil & Natural Gas Company Ltd 4,995.55 2.07%Oil & Natural Gas Company Ltd-Futures 4,849.01 2.01%Petroleum Products 20,828.50 8.62%

• Reliance Industries Ltd 20,828.50 8.62%Pharmaceuticals 18,775.45 7.77%Cadila Healthcare Ltd 4,026.61 1.67%Ranbaxy Laboratories Ltd 3,898.25 1.61%Dr. Reddy’s Laboratories Ltd 3,808.74 1.58%Alembic Ltd 3,119.80 1.29%Novartis India Ltd 2,055.30 0.85%Sun Pharmaceutical Industries Ltd 1,211.30 0.50%Aventis Pharma Ltd 655.45 0.27%Power 8,290.00 3.43%

• National Thermal Power Corporation Ltd 8,290.00 3.43%Software 30,691.12 12.70%

• Tata Consultancy Services Ltd 15,610.05 6.46%• Infosys Technologies Ltd 7,903.20 3.27%

HCL Technologies Limited 4,441.59 1.84%Subex Azure Ltd 2,736.28 1.13%Telecom Services 8,028.84 3.32%

• Bharati Airtel Ltd. 8,028.84 3.32%Textiles - Products 1,481.15 0.61%Aditya Birla Nuvo Ltd 1,481.15 0.61%Transportation 4,937.29 2.04%Containers Corporation of India Ltd 4,937.29 2.04%Nifty Futures 9,016.30 3.73%CPs, CDs and Term Deposits 28,288.70 11.71%ICICI Bank Ltd 22,063.70 9.13%Canara Bank Ltd 4,200.00 1.74%Allahabad Bank Ltd 2,025.00 0.84%Cash, Call, CBLO & Reverse Repo 9,226.62 3.82%Other Current Assets (14,187.35) -5.87%Total Net Assets 241,583.48 100.00%


Performance Record *- Cumulative Option

Rs. 10000 invested at inception: Dynamic Plan Vs S&P CNX Nifty

CAGR – Dynamic Plan: 52.18%; Benchmark: 38.88%Past performance may or may not be sustained in future.

Sector Allocation*

Style Box

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.31-Jul-04 was a non business day.



Portfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have notcompleted a year). The figures are not netted for derivative transactions.^ Risk-free rate based on the last 3 month T-Bill cut-off.

Std Dev : 6.52%Sharpe Ratio^ : 0.58Portfolio Beta : 1.01R squared : 0.74

ICICI Prudential Dynamic PlanDiversified Fund

8.40%

53.87%59.63%

52.18%

10.93%

44.08% 40.47% 38.88%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%

Last6 Months

Last1 year

Last3 years

SinceInception

Dynamic Plan S&P CNX Nifty

Fund Manager's Comment

The fund maintained an average equity exposure at ~87% during the month, indicating a cautiousstance. Exposure to Mahindra & Mahindra (Auto) and ITC Ltd (Consumer Non-Durables) has beenincreased from previous levels. The fund has taken fresh exposure to PNB (Banks), Tata Tea Ltd & MaricoIndustries Ltd (Consumer Non-Durables), Sterlite Industries Ltd (Non-Ferrous Metals) and RanbaxyLaboratories Ltd (Pharmaceuticals). The fund has reduced exposure to Software & Banks and exited theTextile Products sector.

Rs 73498.80

Rs 47601.96

9,66519,665

29,66539,66549,66559,665

69,66579,665

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Jul-0

7

Dynamic Plan S&P CNX Nifty

12.70%

8.62%8.26%

7.77%7.50%

6.66%5.50%

4.59%

4.08%3.43%3.32%3.20%

2.04%1.69%1.64%

1.50%1.15%0.99%0.89%

0.61%0.47%

0.00% 4.00% 8.00% 12.00% 16.00%

SoftwarePetroleum Products

Banks

PharmaceuticalsConsumer Non-DurableMedia & Entertainment

Industrial Products

AutoOil

Power

Telecom ServicesFerrous MetalsTransportation

Industrial Capital

Non-Ferrous MetalsCement

Hotels

ConstructionFertilizers

Textiles - ProductsAuto Ancillaries

6



1 Year SIP 31-Aug-06 12,000.00 149.12 13,830.88 35.14%3 Year SIP 31-Aug-04 36,000.00 700.93 65,011.26 44.81%5 Year SIP 30-Aug-02 60,000.00 2,053.96 190,504.79 49.63%Since Inception 1-Oct-94 155,000.00 12,014.04 1,114,302.21 27.91%


The fund maintained an average equity exposure of 89% during the monthindicating a cautious stance. The fund seeks to optimize risk-adjusted returnby building a portfolio of large and mid-cap stocks across companies in selectsectors. The fund has entered into sectors like Construction (Patel EngineeringLtd), Consumer Non-Durables (ITC Ltd) and Power (NTPC). The fund hasreduced exposure to Banks (exited SBI and Andhra Bank), Ferrous Metals,Industrial Capital Goods (exited Thermax Ltd), Oil (exited ONGC) and TextileProducts (exited Aditya Birla Nuvo Ltd).

ICICI Prudential PowerDiversified Fund

Snapshot:

Fund Manager : Anand ShahIndicative Investment Horizon: 5 yrs & moreInception date: 01-10-1994Fund Size: Rs. 1,514.19 croresNAV (As on 31-July-2007):Growth option : Rs. 92.75Dividend option : Rs. 22.63Institutional option-I : Rs. 24.84**Expense Ratio:Retail option : 2.02%Institutional option- I : 1.00%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation

in a concentrated multi sector portfolio

Performance Record* - Growth Option

Rs. 10000 invested at inception: Power Plan Vs S&P CNX Nifty

CAGR – Power:18.94%; Benchmark: 10.27%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNXNifty. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future. 31-Jul-04 wasa non business day.


Average P/E : 23Average P/BV : 4.91Average Dividend Yield : 0.88Annual Portfolio Turnover Ratio : 2.06 times

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box




Auto 1,689.94 1.12%Maruti Udyog Ltd 1,689.94 1.12%Auto Ancillaries 427.25 0.28%Amtek Auto Ltd 427.25 0.28%Banks 13,880.09 9.17%

• ICICI Bank Ltd 6,737.44 4.45%HDFC Bank Limited 3,601.80 2.38%Punjab National Bank 3,540.85 2.34%Cement 6,196.50 4.09%Grasim Industries Ltd 2,957.05 1.95%Century Textiles & Industries Ltd 2,547.65 1.68%JK Cements Ltd 691.80 0.46%Construction 1,969.18 1.30%Patel Engineering Ltd 1,969.18 1.30%Consumer Non-Durable 4,788.00 3.16%

• ITC Limited 4,788.00 3.16%Ferrous Metals 5,386.15 3.56%Tata Steel Ltd 3,281.25 2.17%Steel Authority of India Ltd 2,104.90 1.39%Industrial Capital Goods 12,547.25 8.28%Larsen & Toubro Ltd 3,781.31 2.50%Bharat Heavy Electricals Ltd 3,212.35 2.12%Siemens India Limited 3,078.60 2.03%Bharat Electonics Ltd 2,474.99 1.63%Industrial Products 4,856.54 3.21%AIA Engineering Ltd 2,455.52 1.62%Jain Irrigation Systems Ltd 2,401.02 1.59%Media & Entertainment 16,708.63 11.03%

• Zee Entertainment Enterprises Ltd 5,909.40 3.90%• Deccan Chronicle Holdings Ltd 4,725.00 3.12%• HT Media Ltd 3,868.22 2.55%

Global Broadcast News Ltd 2,206.01 1.46%Petroleum Products 10,603.60 7.00%

• Reliance Industries Ltd 10,603.60 7.00%Pharmaceuticals 10,876.63 7.18%Sun Pharmaceutical Industries Ltd 3,333.88 2.20%Cadila Healthcare Ltd 2,724.52 1.80%Ipca Laboratories Ltd 2,449.82 1.62%Plethico Pharmaceuticals Ltd 2,368.41 1.56%Power 2,321.20 1.53%National Thermal Power Corporation Ltd 2,321.20 1.53%Software 22,831.00 15.07%

• Tata Consultancy Services Ltd 8,470.22 5.59%• Infosys Technologies Ltd 8,165.70 5.39%• HCL Technologies Limited 4,682.48 3.09%

Sasken Communications Technologies Ltd 1,512.60 1.00%Telecom Services 12,126.43 8.00%

• Bharati Airtel Ltd. 10,182.43 6.72%Idea Cellular Ltd 1,944.00 1.28%Textiles - Products 1,482.10 0.98%Gokaldas Exports Ltd 1,482.10 0.98%Transportation 3,529.72 2.33%Containers Corporation of India Ltd 3,529.72 2.33%Nifty Futures 2,930.30 1.94%CPs, CDs and Term Deposits 2,843.30 1.88%ICICI Bank Ltd 2,843.30 1.88%Cash, Call, CBLO & Reverse Repo 8,690.77 5.74%Other Current Assets 4,734.87 3.15%

Total Net Assets 151,419.45 100.00%• Top Ten Holdings


Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & 2006.

11.32%

48.09% 51.00% 51.70%

18.94%10.93%

44.08% 40.47% 36.39%

10.27%

0.00%

10.00%

20.00%30.00%

40.00%

50.00%

60.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Power S&P CNX Nifty

Rs 92750.00

Rs 34429.97

6,05616,05626,05636,05646,05656,05666,05676,05686,05696,056

106,056

Oct

-94

Aug-

95

Jun-

96

Apr-9

7

Feb-

98

Dec-

98

Oct

-99

Aug-

00

Jun-

01

Apr-0

2

Feb-

03

Dec-

03

Oct

-04

Aug-

05

Jun-

06

Apr-0

7

Power S&P CNX Nifty

15.07%

11.03%

9.17%

8.28%

8.00%

7.18%

7.00%

4.09%

3.56%

3.21%

3.16%

2.33%

1.53%

1.30%

1.12%

0.98%

0.28%

0.00% 4.00% 8.00% 12.00% 16.00%

Software

Media & Entertainment

Banks

Industrial Capital

Telecom Services

Pharmaceuticals

Petroleum Products

Cement

Ferrous Metals

Industrial Products

Consumer Non-Durable

Transportation

Power

Construction

Auto

Textiles - Products

Auto Ancillaries

7

Fund Manager’s Comment

The fund maintained an average equity exposure of 91% during the month, indicating a cautious stance.The fund has taken fresh exposure to Rico Auto Ind. Ltd (Auto Ancillaries), Century Textiles & Ind. Ltd(Cement), Solectron Centum Electronics Ltd (Industrial Capital Goods) and Aditya Birla Nuvo Ltd (TextileProducts). Amtek Auto Ltd (Auto Ancillaries) and Andhra Bank (Banks) are out of the fund portfolio.

Sector Allocation*



*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is Nifty Junior. Forcomputation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.



1 Year SIP 31-Aug-06 12,000.00 432.40 14,360.00 45.97%Since Inception 28-Oct-04 35,000.00 1,947.74 64,684.45 48.54%



Portfolio turnover has been computed as the ratio of the higher value ofaverage purchase and average sales, to the average net assets in the pastone year (since inception for schemes that have not completed a year). Thefigures are not netted for derivative transactions.

^ Risk-free rate based on the last 3 month T-Bill cut-off.

Portfolio

WHY SHOULD ONE INVEST?Long term investment of funds for

capital appreciation on a mid-cap portfolio

Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle BoxFigures as on 31-July-2007

ICICI Prudential Emerging S.T.A.R. FundDiversified Fund

Auto Ancillaries 7,376.45 6.60%Phillips Carbon Black Ltd 2,433.24 2.18%Apollo Tyres Ltd 2,045.97 1.83%Bosch Chassis Systems India Ltd 1,724.24 1.54%Rico Auto Industries Ltd 1,173.00 1.05%Banks 2,913.57 2.61%Bank of Baroda Ltd 2,367.92 2.12%Union Bank of India Ltd 545.65 0.49%Cement 6,337.44 5.67%Birla Corporation Ltd 2,084.51 1.87%India Cements Ltd 1,703.91 1.52%Ramco Industries Ltd 1,335.96 1.20%Century Textiles & Industries Ltd 1,166.82 1.04%Orient Paper & Industries Ltd 46.24 0.04%Chemicals 1,801.74 1.62%Beck India Ltd 1,013.51 0.91%Vivimed Labs Ltd 788.23 0.71%Construction 4,669.65 4.18%

• Patel Engineering Ltd 3,428.90 3.07%Nagarjuna Construction Company Ltd 1,240.75 1.11%Consumer Durables 2,256.70 2.02%Mirza International Ltd 1,229.95 1.10%Lloyd Electric & Engineering Ltd 1,026.75 0.92%Ferrous Metals 6,348.18 5.68%

• Welspun Gujarat Stahl Roh Ltd 3,001.20 2.69%Mukand Ltd 1,720.91 1.54%Kalyani Steels Ltd 1,422.87 1.27%Kamdhenu Ispat Ltd 203.20 0.18%Finance 2,608.02 2.33%India Infoline Ltd 2,608.02 2.33%Industrial Capital Goods 10,162.81 9.10%

• TRF Ltd 2,768.86 2.48%Solectron Centum Electronics Ltd 2,277.61 2.04%Aban Lloyd Chiles Offshore Ltd 2,179.05 1.95%RPG Transmission Ltd 2,062.20 1.85%Stone India Ltd 875.09 0.78%Industrial Products 16,690.74 14.94%

• Sintex Industries Ltd 4,247.16 3.80%• AIA Engineering Ltd 2,950.55 2.64%• Sterlite Optical Technologies Ltd 2,883.78 2.58%

Finolex Cables Ltd 2,734.84 2.45%Graphite India Ltd 2,101.63 1.88%Cummins India Ltd 1,772.78 1.59%Media & Entertainment 12,652.77 11.32%

• Deccan Chronicle Holdings Ltd 8,619.56 7.71%Prime Focus Ltd 2,411.11 2.16%Jagran Prakashan Pvt Ltd 1,622.10 1.45%Pharmaceuticals 2,499.23 2.24%Dishman Pharmaceuticals & Chemicals Ltd 2,499.23 2.24%Power 1,702.58 1.52%Webel SL Energy Ltd 1,702.58 1.52%Software 16,861.26 15.10%

• Subex Azure Ltd 3,491.96 3.13%• Nucleus Software Exports Ltd 3,349.90 3.00%• Geodesic Information Systems Ltd 2,981.79 2.67%

3i Infotech Ltd 2,621.56 2.35%MphasiS Ltd 2,354.57 2.11%Megasoft Ltd 2,061.48 1.84%Textiles - Products 5,905.20 5.29%Provogue (India) Ltd 2,564.57 2.30%Gokaldas Exports Ltd 1,260.14 1.13%Aditya Birla Nuvo Ltd 1,147.89 1.03%Kewal Kiran Clothing Ltd 932.60 0.83%Transportation 1,119.93 1.00%All Cargo Global Logistics Ltd 1,119.93 1.00%CPs, CDs and Term Deposits 1,180.00 1.06%ICICI Bank Ltd 1,180.00 1.06%Cash, Call, CBLO & Reverse Repo 8,052.41 7.21%Other Current Assets 598.86 0.51%Total Net Assets 111,737.54 100.00%


Snapshot:Fund Manager : Deven SangoiIndicative Investment Horizon: 3 years & moreInception date: 28-10-2004Fund Size: Rs. 1,117.38 croresNAV (As on 31-July-2007):Growth option : Rs. 33.21Dividend option : Rs. 21.73Institutional option-I : Rs. 13.07**Expense Ratio:Retail option : 2.07%Institutional option-I : 1.00%**This is a close approximation of the number.

Rs. 10000 invested at inception: Emerging S.T.A.R Fund Vs NIFTY Junior

CAGR – Emerging S.T.A.R. Fund : 54.57%; Benchmark : 40.19%Past performance may or may not be sustained in future.

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2004 & 2006.


11.00%

62.79%54.57%

21.76%

65.88%

40.19%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%

Last 6 Months Last 1 year Since Inception

Emerging S.T.A.R. Fund NIFTY Junior Index

15.10%14.94%

11.32%9.10%

6.60%5.68%

5.67%

5.29%4.18%

2.61%2.33%

2.24%2.02%

1.62%1.52%

1.00%

0.00% 4.00% 8.00% 12.00% 16.00%

Software

Industrial ProductsMedia & Entertainment

Industrial Capital

Auto AncillariesFerrous Metals

CementTextiles - Products

ConstructionBanks

FinancePharmaceuticals

Consumer Durables

ChemicalsPower

Transportation

Rs 33210.00

Rs 25374.47

9,933

14,933

19,933

24,933

29,933

34,933

39,933

Oct

-04

Dec-

04

Feb-

05

Apr-0

5

Jun-

05

Aug-

05

Oct

-05

Dec-

05

Feb-

06

Apr-0

6

Jun-

06

Aug-

06

Oct

-06

Dec-

06

Feb-

07Ap

r-07

Jun-

07

Emerging S.T.A.R. Fund NIFTY Junior Index

8


*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is ^Nifty JuniorIndex. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

ICICI Prudential Fusion FundDiversified Fund (Close - Ended)

Snapshot:

Fund Manager : Deven SangoiIndicative Investment Horizon: 5 yrs and moreInception date: 25-03-2006Fund Size: Rs. 749.52 croresNAV (As on 31-July-2007):Growth option : Rs. 14.60Dividend option : Rs. 14.60Institutional option-I : Rs. 14.82**Expense Ratio:Retail option : 2.12%Institutional option-I : 0.99%**This is a close approximation of the number.

Style Box

Style Value Blend Growth Size

Large

Mid

Small



WHY SHOULD ONE INVEST?Exploit the long-term investment potential of equity

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAV

Auto Ancillaries 3,382.61 4.52%• Amtek India Ltd 2,335.44 3.12%

Enkei Castalloy Ltd 672.50 0.90%Sundaram Clayton Ltd 374.67 0.50%Banks 2,145.45 2.86%ICICI Bank Ltd 1,424.55 1.90%Federal Bank Ltd 720.90 0.96%Cement 500.12 0.67%Ramco Industries Ltd 500.12 0.67%Construction 4,516.90 6.02%

• Orbit Corporation Ltd 3,412.22 4.55%Unity Infraprojects Ltd 1,104.68 1.47%Consumer Durables 991.32 1.32%K.G. Khosla Compressors Ltd 991.32 1.32%Consumer Non-Durable 386.30 0.52%Synergy Multibase Ltd 386.30 0.52%Ferrous Metals 2,447.14 3.26%

• Kalyani Steels Ltd 2,447.14 3.26%Industrial Capital Goods 7,540.82 10.08%Bharti Shipyard Ltd 1,976.23 2.64%Aban Lloyd Chiles Offshore Ltd 1,345.56 1.80%Gujarat Apollo Equipments Ltd 1,181.75 1.58%Jyoti Ltd 927.83 1.24%Gei Hamon Industries Ltd 836.00 1.12%Bharat Forge Utilities Ltd 831.20 1.11%Texmaco Ltd 442.25 0.59%Industrial Products 9,544.17 12.73%

• Jain Irrigation Systems Ltd 4,406.21 5.88%AIA Engineering Ltd 1,810.81 2.42%Esab India Ltd 1,343.54 1.79%Finolex Cables Ltd 1,119.23 1.49%Sterlite Optical Technologies Ltd 864.38 1.15%Media & Entertainment 8,114.67 10.83%

• Deccan Chronicle Holdings Ltd 5,985.09 7.99%Jagran Prakashan Pvt Ltd 2,129.58 2.84%Pesticides 2,275.33 3.03%United Phosphorus Ltd 1,480.20 1.97%Rallis India Ltd 795.13 1.06%Petroleum Products 2,834.61 3.78%

• Reliance Industries Ltd 2,834.61 3.78%Pharmaceuticals 7,060.79 9.42%

• Elder Pharmaceuticals Ltd 2,700.78 3.60%Dishman Pharmaceuticals & Chemicals Ltd 1,873.14 2.50%Cadila Healthcare Ltd 1,421.78 1.90%Torrent Pharmaceuticals Ltd 1,065.09 1.42%Retailing 2,500.00 3.34%

• Subhiksha Trading Services Pvt Ltd 2,500.00 3.34%Software 11,959.53 15.96%

• Zenith Infotech Ltd 3,739.36 4.99%• Subex Azure Ltd 3,262.41 4.35%

Geometric Software Solutions Ltd 1,537.26 2.05%Firstsource Solutions Ltd 1,181.24 1.58%Megasoft Ltd 1,168.71 1.56%MphasiS Ltd 1,070.55 1.43%Textiles - Products 4,337.02 5.79%Aditya Birla Nuvo Ltd 1,475.76 1.97%Kewal Kiran Clothing Ltd 1,345.01 1.79%Siyaram Silk Mills Ltd 799.95 1.07%Gokaldas Exports Ltd 716.30 0.96%CPs, CDs and Term Deposits 1,530.00 2.04%ICICI Bank Ltd 1,530.00 2.04%Cash, Call, CBLO & Reverse Repo 608.55 0.81%Other Current Assets 2,276.46 3.02%Total Net Assets 74,951.79 100.00%


Sector Allocation*


Average P/E : 24Average P/BV : 3.78Average Dividend Yield: 0.67Annual Portfolio Turnover Ratio: 0.62 times



Rs. 10000 invested at inception: Fusion Plan Vs NIFTY Junior

CAGR – Fusion Fund: 32.34%; Benchmark : 28.19%Past performance may or may not be sustained in future.

14.69%

63.31%

32.34%

21.76%

65.88%

28.19%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%


Fusion Fund NIFTY Junior Index

Rs 14600.00Rs 14651.53

7,4308,4309,430

10,43011,43012,43013,43014,43015,43016,430

Mar

-06

Apr-0

6

May

-06

Jun-

06Ju

l-06

Aug-

06

Sep-

06

Oct

-06

Nov

-06

Dec-

06

Jan-

07

Feb-

07M

ar-0

7

Apr-0

7

May

-07

Jun-

07Ju

l-07

Fusion Fund NIFTY Junior Index

15.96%12.73%

10.83%10.08%

9.42%6.02%5.79%

4.52%3.78%

3.34%3.26%3.03%2.86%

1.32%0.67%0.52%

0.00% 5.00% 10.00% 15.00% 20.00%

SoftwareIndustrial Products

Media & EntertainmentIndustrial CapitalPharmaceuticals

ConstructionTextiles - Products

Auto AncillariesPetroleum Products

RetailingFerrous Metals

PesticidesBanks

Consumer DurablesCement

Consumer Non-

9


The fund maintained an average equity exposure of 97% during the month,indicating consistent stance of bargain buying at lower market levels. The fund hasreduced holding in Ferrous Metals, Fertilizers and Oil sectors. The fund has sold itsholding in Jindal Steel & Power Co. Ltd. and bought Kirloskar Ferrous IndustriesLtd. Under Fertilizers, the fund has exited Gujarat State Fertilizers & Chemicals Ltd.and under Non-Ferrous Metals, it has taken fresh exposure to Sterlite IndustriesLtd. increasing the weightage to that sector.

Rs. 10000 invested at inception: Discovery Fund Vs S & P CNX Nifty



1 Year SIP 31-Aug-06 12,000.00 449.38 12,915.18 17.10%Since Inception 16-Aug-04 37,000.00 2,058.28 59,154.97 33.76%

CAGR – Discovery Plan : 42.92%; Benchmark : 42.21%Past performance may or may not be sustained in future.



Portfolio

ICICI Prudential Discovery FundDiversified Fund

Snapshot:Fund Manager : Sankaran NarenIndicative Investment Horizon: 5 yrs and moreInception date: 16-08-2004Fund Size: Rs. 738.82 croresNAV (As on 31-July-2007):Growth option : Rs. 28.74Dividend option : Rs. 17.78Institutional option-I : Rs. 12.28**Expense Ratio:Retail option : 2.10%Institutional option-I : 1.00%**This is a close approximation of the number.


following value investment philosophy


Sector Allocation*

Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box

*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.



Auto 1,457.60 1.97%Mahindra & Mahindra Ltd 1,457.60 1.97%Auto Ancillaries 4,184.24 5.67%Kesoram Industries Ltd 1,977.80 2.68%Apollo Tyres Ltd 1,470.64 1.99%India Nippon Elect Ltd 735.80 1.00%Banks 5,949.83 8.05%

• ING Vysya Bank Ltd 3,874.50 5.24%Andhra Bank Ltd 1,704.00 2.31%ICICI Bank Ltd 371.33 0.50%Cement 2,804.69 3.80%

• Birla Corporation Ltd 2,804.69 3.80%Chemicals 2,279.33 3.09%India Glycols Ltd 2,279.33 3.09%Consumer Non-Durable 8,901.82 12.04%

• Tata Tea Ltd 4,625.70 6.26%• Ruchi Soya Industries Ltd 2,700.33 3.65%

Nirma Ltd 1,030.25 1.39%Rajshree Sugars & Chemicals Ltd 545.54 0.74%Ferrous Metals 361.15 0.49%Kirloskar Ferrous Industries Ltd 361.15 0.49%Fertilizers 970.28 1.31%Zuari Industries Ltd 970.28 1.31%Hardware 805.00 1.09%HCL Infosystems Ltd 805.00 1.09%Industrial Products 7,105.76 9.62%

• Finolex Cables Ltd 3,602.25 4.88%• Kirloskar Oil Engines Ltd 2,982.76 4.04%

MM Forgings Ltd 520.75 0.70%Non-Ferrous Metals 4,374.66 5.92%Sterlite Industries Limited-Futures 2,194.01 2.97%Nava Bharat Ventures Ltd 1,091.48 1.48%Sterlite Industries (India) Limited 1,089.17 1.47%Oil 3,481.89 4.71%Oil & Natural Gas Company Ltd 2,286.38 3.09%Oil & Natural Gas Company Ltd-Futures 1,195.51 1.62%Paper 3,312.91 4.48%JK Paper Ltd 1,973.40 2.67%Tamil Nadu Newsprint & Papers Ltd 685.71 0.93%Seshashayee Paper & Boards Ltd 653.80 0.88%Pesticides 1,908.30 2.58%Rallis India Ltd 1,908.30 2.58%Petroleum Products 1,329.74 1.80%Indian Oil Corporation Ltd 1,329.74 1.80%Pharmaceuticals 13,157.29 17.81%

• Ipca Laboratories Ltd 4,236.00 5.73%• Cadila Healthcare Ltd 3,686.55 4.99%• Aventis Pharma Ltd 3,277.25 4.44%

Novartis India Ltd 1,113.29 1.51%FDC Ltd 844.20 1.14%Software 4,945.24 6.69%

• HCL Technologies Limited 4,701.75 6.36%Geometric Software Solutions Ltd 243.49 0.33%Textiles - Cotton 2,372.00 3.21%Vardhaman Textiles Ltd 2,372.00 3.21%Textiles - Products 1,933.63 2.62%Raymond Ltd 1,933.63 2.62%CPs, CDs and Term Deposits 3,500.00 4.74%ICICI Bank Ltd 3,500.00 4.74%Cash, Call, CBLO & Reverse Repo 2,511.27 3.40%Other Current Assets (3,764.95) -5.09%Total Net Assets 73,881.68 100.00%




Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2004 & 2006.

5.16%

29.05%

42.92%

10.93%

44.08% 42.21%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%


Discovery Fund S&P CNX Nifty

Rs 28740.00

Rs 28320.36

9,819

14,819

19,819

24,819

29,819

34,819

Aug-

04O

ct-0

4De

c-04

Feb-

05Ap

r-05

Jun-

05Au

g-05

Oct

-05

Dec-

05Fe

b-06

Apr-0

6Ju

n-06

Aug-

06O

ct-0

6De

c-06

Feb-

07Ap

r-07

Jun-

07

Discovery Fund S&P CNX Nifty

17.81%

12.04%

9.62%

8.05%

6.69%

5.92%

5.67%

4.71%

4.48%

3.80%

3.21%

3.09%

2.62%

2.58%

1.97%

1.80%

1.31%

1.09%

0.49%

0.00% 5.00% 10.00% 15.00% 20.00%

Pharmaceuticals

Consumer Non-

Industrial Products

Banks

Software

Non-Ferrous

Auto Ancillaries

Oil

Paper

Cement

Textiles - Cotton

Chemicals

Textiles - Products

Pesticides

Auto

Petroleum

Fertilizers

Hardware

Ferrous Metals

10


*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.31-Jul-04 was a non business day.

Sector Allocation*


ICICI Prudential Tax PlanDiversified Fund

Snapshot:Fund Manager : Sankaran NarenIndicative Investment Horizon: 3 yrs & moreInception date: 19-08-1999Fund Size: Rs. 735.05 croresNAV (As on 31-July-2007):

Growth option : Rs. 94.53Dividend option : Rs. 22.70

**Expense Ratio: 2.19%


WHY SHOULD ONE INVEST?Medium term investment of funds with tax benefits for capital appreciation

Auto Ancillaries 6,317.04 8.60%• Kesoram Industries Ltd 2,966.70 4.04%

Sundaram Clayton Ltd 1,576.30 2.14%Rane Madras Ltd 734.70 1.00%Sundaram Brake Linings Ltd 644.67 0.88%Rane Brake Linings Ltd 336.33 0.46%Rane Holdings Ltd 58.34 0.08%Banks 4,715.30 6.41%

• ICICI Bank Ltd 3,184.59 4.33%ING Vysya Bank Ltd 1,530.71 2.08%Cement 1,593.91 2.17%Orient Paper & Industries Ltd 1,593.91 2.17%Chemicals 3,718.34 5.06%Clariant Chemicals (India) Ltd 1,726.20 2.35%India Glycols Ltd 898.18 1.22%Atul Ltd 513.47 0.70%Gwalior Chemical Industries Ltd 353.75 0.48%Andhra Sugars Ltd 226.74 0.31%Construction 3,461.10 4.71%

• Sadbhav Engineering Ltd 3,461.10 4.71%Consumer Non-Durable 10,780.81 14.68%

• ICI India Ltd 3,686.52 5.02%• Tata Tea Ltd 3,438.44 4.68%

Gillette India Ltd 1,823.20 2.48%Hindustan Sanitaryware & Industries Ltd 783.12 1.07%Venky's (India) Ltd 624.73 0.85%Harrisons Malyalam Ltd 424.80 0.58%Ferrous Metals 2,251.38 3.06%Sesa Goa Ltd 2,251.38 3.06%Fertilizers 1,860.75 2.53%Zuari Industries Ltd 1,860.75 2.53%Finance 1,539.75 2.09%SREI Infrastructure Finance Ltd 1,539.75 2.09%Industrial Capital Goods 1,597.86 2.17%Numeric Power Systems Ltd 1,021.61 1.39%Hindustan Dorr-Oliver Ltd 576.25 0.78%Industrial Products 3,938.06 5.35%H.E.G. Ltd 1,717.50 2.34%Poleplex Corporation Ltd 979.83 1.33%Paper Products Ltd 921.00 1.25%MM Forgings Ltd 319.73 0.43%Media & Entertainment 1,125.06 1.53%Zee News Ltd 1,125.06 1.53%Non-Ferrous Metals 1,222.80 1.66%National Aluminium Company Limited-Futures 1,222.80 1.66%Oil 469.51 0.64%Hindustan Oil Exploration Ltd 469.51 0.64%Petroleum Products 6,690.12 9.10%

• Reliance Industries Ltd 4,733.75 6.44%Indian Oil Corporation Ltd 1,956.37 2.66%Pharmaceuticals 6,578.96 8.96%

• Cadila Healthcare Ltd 3,072.13 4.18%Alembic Ltd 1,269.48 1.73%FDC Ltd 1,211.55 1.65%Aventis Pharma Ltd 983.18 1.34%Ahlcon Parenterals (India) Ltd 42.62 0.06%Retailing 2,616.44 3.56%

• Trent Ltd 2,280.74 3.10%Vishal Retail Ltd 335.70 0.46%Software 9,929.40 13.51%

• 3i Infotech Ltd 3,247.75 4.42%• Tata Consultancy Services Ltd 2,890.75 3.93%

HCL Technologies Limited 1,567.25 2.13%Megasoft Ltd 1,177.87 1.60%HCL Technologies Limited-Futures 496.50 0.68%Firstsource Solutions Ltd 409.00 0.56%Infosys Technologies Ltd 140.28 0.19%Textiles - Cotton 422.15 0.57%Precot Mills Ltd 422.15 0.57%Textiles - Products 416.33 0.57%Raymond Ltd 416.33 0.57%Textiles - Synthetic 227.00 0.31%Sangam India Ltd 227.00 0.31%CPs, CDs and Term Deposits 1,498.00 2.04%ICICI Bank Ltd 1,498.00 2.04%Cash, Call, CBLO & Reverse Repo 318.47 0.43%Other Current Assets 216.41 0.29%Total Net Assets 73,504.95 100.00%




1 Year SIP 31-Aug-06 12,000.00 133.60 12,629.21 11.65%3 Year SIP 31-Aug-04 36,000.00 573.08 54,173.25 30.02%5 Year SIP 30-Aug-02 60,000.00 1,972.00 186,413.16 48.63%Since Inception 19-Aug-99 97,000.00 4,947.01 467,640.86 38.40%



PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box


Portfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have not completeda year). The figures are not netted for derivative transactions.


CAGR – Tax Plan: 32.64%; Benchmark : 16.49%Past performance may or may not be sustained in future.

Rs. 10000 invested at inception: Tax Plan Vs S&P CNX Nifty

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002 & 2004 .


0.83%

27.01%

49.48% 51.63%

32.64%

10.93%

44.08% 40.47% 36.39%

16.49%

0.00%

10.00%

20.00%30.00%

40.00%

50.00%

60.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Tax Plan S&P CNX Nifty

Rs 94530.00

Rs 33671.75

6,301

26,301

46,301

66,301

86,301

106,301

126,301

Aug-

99Ja

n-00

Jun-

00N

ov-0

0Ap

r-01

Sep-

01Fe

b-02

Jul-0

2De

c-02

May

-03

Oct

-03

Mar

-04

Aug-

04Ja

n-05

Jun-

05N

ov-0

5Ap

r-06

Sep-

06Fe

b-07

Jul-0

7

Tax Plan S&P CNX Nifty

14.68%

13.51%9.10%8.96%

8.60%

6.41%5.35%

5.06%

4.71%3.56%

3.06%2.53%

2.17%2.17%2.09%

1.66%1.53%

0.64%0.57%

0.57%0.31%

0.00% 4.00% 8.00% 12.00% 16.00%

Consumer Non-DurableSoftware

Petroleum Products

PharmaceuticalsAuto Ancillaries

BanksIndustrial Products

ChemicalsConstruction

Retailing

Ferrous MetalsFertilizers

CementIndustrial Capital

FinanceNon-Ferrous Metals


OilTextiles - Cotton

Textiles - ProductsTextiles - Synthetic

11


The fund maintained an average equity exposure of 90% during the month, including ~3% exposure toNifty Futures, indicating a cautious stance. The fund has exited Tata Motors Ltd (Auto). Exposure toConsumer Non-Durables, Industrial Products and Telecom Services has been increased while that inFerrous Metals, Industrial Capital Goods and Software is reduced. The portfolio is skewed towards largecap as the fund seeks to maximize the risk-return payoff.



1 Year SIP 31-Aug-06 12,000.00 130.30 13,659.35 31.69%

3 Year SIP 31-Aug-04 36,000.00 596.41 62,521.66 41.57%

5 Year SIP 30-Aug-02 60,000.00 1,585.04 166,159.74 43.40%

Since Inception 09-Jul-98 110,000.00 4,559.43 477,965.05 30.96%




Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002, 2004 & 2006.



ICICI Prudential Growth PlanDiversified Fund

Snapshot:Fund Manager : Deven SangoiIndicative Investment Horizon: 5 years & moreInception date: 09-07-1998Fund Size: Rs. 481.17 croresNAV (As on 31-July-2007):Growth option : Rs. 104.83Dividend option : Rs. 23.50Institutional option-I : Rs. 13.99**Expense Ratio:Retail option : 2.28%Institutional option-I : 1.00%




Rs. 10000 invested at inception: Growth Plan Vs S & P CNX Nifty

CAGR – Growth Plan : 29.59%; Benchmark : 18.65%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future. 31-Jul-04 was a nonbusiness day.

Style BoxFigures as on 31-July-2007


Auto 633.41 1.32%Maruti Udyog Ltd 633.41 1.32%Banks 6,442.90 13.38%

• ICICI Bank Ltd 2,094.25 4.35%• State Bank of India Ltd 1,724.20 3.58%• Punjab National Bank 1,522.76 3.16%

HDFC Bank Limited 1,059.00 2.20%HDFC Bank Limited-Futures 42.69 0.09%Cement 2,445.93 5.09%

• Grasim Industries Ltd 1,513.57 3.15%Gujarat Ambuja Cement Ltd 932.36 1.94%Consumer Non-Durable 1,582.57 3.29%

• ITC Limited 1,582.57 3.29%Ferrous Metals 1,693.42 3.52%Tata Steel Ltd 939.13 1.95%Steel Authority of India Ltd 754.29 1.57%Industrial Capital Goods 4,910.48 10.21%

• Bharat Heavy Electricals Ltd 1,920.36 3.99%• Larsen & Toubro Ltd 1,528.04 3.18%

Bharat Electonics Ltd 1,462.08 3.04%Industrial Products 1,050.89 2.18%Cummins India Ltd 1,050.89 2.18%Media & Entertainment 1,391.95 2.89%Zee Entertainment Enterprises Ltd 1,391.95 2.89%Non-Ferrous Metals 825.13 1.71%Sterlite Industries (India) Limited 825.13 1.71%Oil 2,361.84 4.91%

• Oil & Natural Gas Company Ltd 2,361.84 4.91%Pesticides 1,294.08 2.69%United Phosphorus Ltd 1,294.08 2.69%Petroleum Products 4,203.15 8.74%

• Reliance Industries Ltd 4,203.15 8.74%Pharmaceuticals 2,033.19 4.23%Sun Pharmaceutical Industries Ltd 1,081.59 2.25%Ranbaxy Laboratories Ltd 951.60 1.98%Software 4,938.11 10.27%Tata Consultancy Services Ltd 1,379.30 2.87%Infosys Technologies Ltd 1,378.63 2.87%HCL Technologies Limited 1,159.88 2.41%Wipro Ltd 1,020.30 2.12%Telecom Services 4,551.70 9.46%

• Bharati Airtel Ltd. 3,102.49 6.45%Reliance Communications Ventures Ltd 1,449.21 3.01%Transportation 1,328.48 2.76%Containers Corporation of India Ltd 1,328.48 2.76%Nifty Futures 1,577.85 3.28%CPs, CDs and Term Deposits 3,260.00 6.78%ICICI Bank Ltd 3,260.00 6.78%Cash, Call, CBLO & Reverse Repo 2,235.39 4.65%Other Current Assets (643.71) -1.36%Total Net Assets 48,116.76 100.00%


10.41%

41.97%47.41%

43.04%

29.59%

10.93%

44.08%40.47%

36.39%

18.65%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Growth Plan S&P CNX Nifty

Rs 104830.00

Rs 47123.98

8,365

28,365

48,365

68,365

88,365

108,365

128,365

Jul-9

8

Feb-

99

Sep-

99

Apr-0

0

Nov

-00

Jun-

01

Jan-

02

Aug-

02

Mar

-03

Oct

-03

May

-04

Dec-

04

Jul-0

5

Feb-

06

Sep-

06

Apr-0

7

Growth Plan S&P CNX Nifty

13.38%

10.27%

10.21%

9.46%

8.74%

5.09%

4.91%

4.23%

3.52%

3.29%

2.89%

2.76%

2.69%

2.18%

1.71%

1.32%

0.00% 4.00% 8.00% 12.00% 16.00%

Banks

Software

Industrial Capital Goods

Telecom Services

Petroleum Products

Cement

Oil

Pharmaceuticals

Ferrous Metals



Transportation

Pesticides

Industrial Products

Non-Ferrous Metals

Auto

12



1 Year SIP 31-Aug-06 12,000.00 654.44 14,934.32 58.05%Since Inception 31-Aug-05 24,000.00 1,636.24 37,339.00 53.61%

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the years 2005 & 2006.


The fund has an equity exposure of ~87%, including ~12% exposure to Nifty Futures indicating acautious stance. The fund has exited HDFC Bank (Banks) and Seimens India Ltd. (Industrial CapitalGoods). The fund has bought Idea Cellular Ltd. under the Telecom Services sector. The portfolio isskewed towards large cap as the fund seeks to maximize the risk-return payoff.

Sector Allocation*


*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.



Portfolio turnover has been computed as the ratio of the higher value ofaverage purchase and average sales, to the average net assets in the pastone year (since inception for schemes that have not completed a year). Thefigures are not netted for derivative transactions.

ICICI Prudential Infrastructure FundThematic Fund

Snapshot:Fund Manager : Sankaran NarenIndicative Investment Horizon: 5 yrs and moreInception date: 31-08-2005Fund Size: Rs. 2,028.65 croresNAV (As on 31-July-2007):

Growth option : Rs. 22.82Dividend option : Rs. 17.73Institutional option-I : Rs. 12.03

**Expense Ratio:Retail option : 1.91%Institutional option-I : 0.99%




WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation derivedfrom the growth and development of the infrastructure sector




Auto Ancillaries 7,911.20 3.90%• Kesoram Industries Ltd 7,911.20 3.90%

Banks 13,095.62 6.46%• ICICI Bank Ltd 7,983.62 3.94%

Andhra Bank Ltd 5,112.00 2.52%Cement 3,804.72 1.88%Grasim Industries Ltd 2,957.05 1.46%JK Cements Ltd 578.17 0.29%Birla Corporation Ltd 269.50 0.13%Construction 16,207.48 7.99%

• Patel Engineering Ltd 8,650.86 4.26%Gammon India Ltd 2,205.50 1.09%BL Kashyap and Sons Ltd 1,996.46 0.98%Nagarjuna Construction Company Ltd 1,918.00 0.95%Jaiprakash Associates Ltd 1,436.66 0.71%Dredging 3,727.47 1.84%Dredging Corporation of India Ltd 3,727.47 1.84%Ferrous Metals 24,122.97 11.89%

• Jindal Steel & Power Company Ltd 11,209.86 5.53%• Usha Martin Ltd 5,503.93 2.71%

Steel Authority of India Ltd 3,758.75 1.85%Welspun Gujarat Stahl Roh Ltd 2,333.43 1.15%Adhunik Metaliks Ltd 1,317.00 0.65%Hotels 3,902.13 1.92%EIH Ltd 3,902.13 1.92%Industrial Capital Goods 8,124.02 4.01%Larsen & Toubro Ltd 5,215.60 2.57%ABG Heavy Industries Ltd 1,492.20 0.74%Kalpataru Power Transmission Ltd 1,416.22 0.70%Industrial Products 10,881.28 5.36%

• Cummins India Ltd 6,697.15 3.30%Electrosteel Castings Ltd 4,184.13 2.06%Oil 10,606.26 5.23%

• Oil & Natural Gas Company Ltd 7,850.51 3.87%Oil & Natural Gas Company Ltd-Futures 1,301.05 0.64%Hindustan Oil Exploration Ltd 1,157.00 0.57%Cairn India Ltd 297.70 0.15%Petroleum Products 17,988.25 8.87%

• Reliance Industries Ltd 17,988.25 8.87%Power 18,629.53 9.19%

• National Thermal Power Corporation Ltd 7,295.20 3.60%• Tata Power Company Limited 6,665.16 3.29%

Gujarat Industries Power Company Ltd 2,641.40 1.30%Tata Power Supply Company Limited-Futures 2,027.77 1.00%Telecom Services 7,350.60 3.63%Bharati Airtel Ltd. 5,406.60 2.67%Idea Cellular Ltd 1,944.00 0.96%Transportation 5,078.12 2.50%Containers Corporation of India Ltd 5,078.12 2.50%Nifty Futures 24,050.98 11.86%CPs, CDs and Term Deposits 33,839.00 16.68%ICICI Bank Ltd 17,114.00 8.44%Punjab National Bank Ltd 11,200.00 5.52%Allahabad Bank Ltd 5,525.00 2.72%Cash, Call, CBLO & Reverse Repo 11,834.19 5.83%Other Current Assets (18,288.92) -9.04%Total Net Assets 202,864.90 100.00%


Rs. 10000 invested at inception: Infrastructure Fund Vs S&P CNX Nifty

CAGR – Infrastructure : 53.85%; Benchmark : 39.78%Past performance may or may not be sustained in future.

18.92%

70.30%

53.85%

10.93%

44.08% 39.78%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%


Infrastructure Fund S&P CNX Nifty

Rs 22820.00

Rs 18991.68

9,42011,42013,42015,42017,42019,42021,42023,42025,420

Aug-

05Se

p-05

Oct

-05

Nov

-05

Dec-

05Ja

n-06

Feb-

06M

ar-0

6Ap

r-06

May

-06

Jun-

06Ju

l-06

Aug-

06Se

p-06

Oct

-06

Nov

-06

Dec-

06Ja

n-07

Feb-

07M

ar-0

7Ap

r-07

May

-07

Jun-

07Ju

l-07

Infrastructure Fund S&P CNX Nifty

11.89%

9.19%

8.87%

7.99%

6.46%

5.36%

5.23%

4.01%

3.90%

3.63%

2.50%

1.92%

1.88%

1.84%

0.00% 4.00% 8.00% 12.00% 16.00%

Ferrous Metals

Power

Petroleum Products

Construction

Banks

Industrial Products

Oil


Auto Ancillaries

Telecom Services

Transportation

Hotels

Cement

Dredging

13



1 Year SIP 31-Aug-06 12,000.00 813.97 14,366.57 46.11%Since Inception 30-Nov-05 21,000.00 1,649.00 29,104.85 44.84%


The fund maintained an average equity exposure of 86% during the month, indicating a cautious stance. Thefund has raised holding in Construction and Telecom Services sectors while exposure to Banks and Software isreduced. Fresh exposure is taken in Page Ind. Ltd. (Textile Products) and the fund has exited IDFC Ltd. (Finance).


Portfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have not completeda year). The figures are not netted for derivative transactions.^ Risk-free rate based on the last 3 month T-Bill cut-off.


PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVSnapshot:

Fund Manager : Deven SangoiIndicative Investment Horizon: 5 yrs. & moreInception date: 30-11-2005Fund Size: Rs. 673.69 croresNAV (As on 31-July-2007):


**Expense Ratio: 2.21%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation derived

from the growth potential of the service industries sector

Auto Ancillaries 2,265.39 3.35%Automobile Corporation of Goa Ltd 1,329.89 1.97%Sundaram Clayton Ltd 669.93 0.99%Shivam Autotech Ltd 265.57 0.39%Banks 7,889.64 11.71%

• ICICI Bank Ltd 2,938.91 4.36%• Punjab National Bank 2,060.38 3.06%

Andhra Bank Ltd 1,266.62 1.88%HDFC Bank Limited 1,211.97 1.80%Union Bank of India Ltd 389.75 0.58%Bank of Baroda Ltd 22.01 0.03%Construction 7,832.36 11.62%

• Patel Engineering Ltd 2,426.72 3.60%Jaiprakash Associates Ltd 1,754.37 2.60%Orbit Corporation Ltd 1,743.75 2.59%Nagarjuna Construction Company Ltd 1,171.83 1.74%BL Kashyap and Sons Ltd 735.69 1.09%Finance 1,336.40 1.98%India Infoline Ltd 1,336.40 1.98%Healthcare Services 777.10 1.15%Vimta Labs Ltd 777.10 1.15%Industrial Capital Goods 3,742.71 5.56%

• Bharti Shipyard Ltd 1,782.11 2.65%Bharat Electonics Ltd 1,317.05 1.95%Siemens India Limited-Futures 643.55 0.96%Industrial Products 2,113.62 3.14%

• Jain Irrigation Systems Ltd 2,113.62 3.14%Media & Entertainment 6,077.73 9.02%

• Jagran Prakashan Pvt Ltd 1,958.96 2.91%• Deccan Chronicle Holdings Ltd 1,771.88 2.63%

Zee Entertainment Enterprises Ltd 1,726.18 2.56%Television Eighteen India Ltd. 620.71 0.92%Pesticides 988.07 1.47%United Phosphorus Ltd 988.07 1.47%Pharmaceuticals 6,264.83 9.29%Dishman Pharmaceuticals & Chemicals Ltd 1,733.38 2.57%Dr. Reddy’s Laboratories Ltd 1,724.62 2.56%Lupin Ltd 811.50 1.20%Indoco Remedies Ltd 575.59 0.85%Sun Pharmaceutical Industries Ltd 547.47 0.81%Plethico Pharmaceuticals Ltd 450.48 0.67%Elder Pharmaceuticals Ltd 421.79 0.63%Power 1,355.40 2.01%PTC India Ltd 1,355.40 2.01%Software 6,460.35 9.59%

• Nucleus Software Exports Ltd 2,183.15 3.24%Infotech Enterprises Ltd 1,082.79 1.61%Tata Consultancy Services Ltd 955.38 1.42%3i Infotech Ltd 870.99 1.29%Financial Technologies Ltd 714.24 1.06%MphasiS Ltd 653.80 0.97%Telecom Services 6,338.39 9.40%

• Bharati Airtel Ltd. 3,216.93 4.78%Idea Cellular Ltd 1,296.00 1.92%Avaya Global Connect Ltd 1,175.37 1.74%Reliance Communications Ventures Ltd 650.09 0.96%Textiles - Products 3,534.69 5.24%

• Aditya Birla Nuvo Ltd 1,874.29 2.78%Gokaldas Exports Ltd 1,152.34 1.71%Page Industries Ltd 508.06 0.75%Transportation 1,232.85 1.83%Containers Corporation of India Ltd 1,232.85 1.83%CPs, CDs and Term Deposits 5,288.00 7.85%ICICI Bank Ltd 5,088.00 7.55%Allahabad Bank Ltd 200.00 0.30%Cash, Call, CBLO & Reverse Repo 2,810.47 4.17%Other Current Assets 1,060.77 1.62%Total Net Assets 67,368.77 100.00%



Sector Allocation*

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNXNifty. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.



ICICI Prudential Services Industries FundThematic Fund

Style Box


Rs. 10000 invested at inception: Services Industries Fund Vs S&P CNX Nifty

CAGR – Service Industries : 40.65%; Benchmark : 37.88%Past performance may or may not be sustained in future.

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2006.

10.73%

74.93%

40.65%

10.93%

44.08%37.88%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%


Services Industries Fund S&P CNX Nifty

Rs 17650.00

Rs 17075.50

8,8109,810

10,81011,81012,81013,81014,81015,81016,81017,81018,810

Nov

-05

Dec-

05Ja

n-06

Feb-

06M

ar-0

6Ap

r-06

May

-06

Jun-

06Ju

l-06

Aug-

06Se

p-06

Oct

-06

Nov

-06

Dec-

06Ja

n-07

Feb-

07M

ar-0

7Ap

r-07

May

-07

Jun-

07Ju

l-07

Services Industries Fund S&P CNX Nifty

11.71%

11.62%

9.59%

9.40%

9.29%

9.02%

5.56%

5.24%

3.35%

3.14%

2.01%

1.98%

1.83%

1.47%

1.15%

0.00% 4.00% 8.00% 12.00% 16.00%

Banks

Construction

Software

Telecom Services

Pharmaceuticals



Textiles - Products

Auto Ancillaries

Industrial Products

Power

Finance

Transportation

Pesticides

Healthcare Services

14


ICICI Prudential FMCG FundThematic Fund

Snapshot:

Fund Manager : Prashant KothariIndicative Investment Horizon: 5 yrs & moreInception date: 31-03-1999Fund Size: Rs. 76.48 croresNAV (As on 31-July-2007):




WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation in FMCG sector


Rs. 10000 invested at inception: FMCG Vs CNX FMCG Index

CAGR – FMCG : 19.46%; Benchmark : 6.37%Past performance may or may not be sustained in future.

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is CNX FMCGIndex. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.31-Jul-04 was a non business day.



1 Year SIP 31-Aug-06 12,000.00 298.51 13,149.37 21.63%

3 Year SIP 31-Aug-04 36,000.00 1,381.28 60,845.38 39.34%

5 Year SIP 30-Aug-02 60,000.00 3,932.82 173,240.72 45.29%

Since Inception 31-Mar-99 101,000.00 8,187.61 360,664.22 29.61%


Consumer Non-Durable 5,569.53 72.81%• ICI India Ltd 1,371.55 17.93%• Marico Industries Ltd 926.29 12.11%• Gillette India Ltd 777.96 10.17%• Pidilite Industries Ltd 565.23 7.39%• Proctor & Gamble Hygiene and Healthcare Limited 479.54 6.27%• Asian Paints Ltd 452.59 5.92%• ITC Limited 311.86 4.08%

ITC Limited-Futures 265.63 3.47%Hindustan Lever Ltd 167.47 2.19%Radico Khaitan Ltd 161.63 2.11%Emami Ltd 89.78 1.17%Retailing 1,502.38 19.64%

• Pantaloon Retail (India) Ltd 809.98 10.59%• Trent Ltd 692.40 9.05%

Textiles - Products 417.40 5.46%• Page Industries Ltd 417.40 5.46%

CPs, CDs and Term Deposits 180.00 2.35%ICICI Bank Ltd 180.00 2.35%Cash, Call, CBLO & Reverse Repo 180.54 2.36%Other Current Assets (202.30) -2.62%Total Net Assets 7,647.55 100.00%


Style Box







5.86%

33.12%

55.37%

40.04%

19.46%

3.74%7.11%

34.17%

20.43%

6.37%

0.00%

10.00%

20.00%30.00%

40.00%

50.00%

60.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

FMCG Fund CNX FMCG Index

Rs 44050.00

Rs 16730.67

5,85310,85315,85320,85325,85330,85335,85340,85345,85350,853

Mar

-99

Sep-

99

Mar

-00

Sep-

00

Mar

-01

Sep-

01

Mar

-02

Sep-

02

Mar

-03

Sep-

03

Mar

-04

Sep-

04

Mar

-05

Sep-

05

Mar

-06

Sep-

06

Mar

-07

FMCG Fund CNX FMCG Index

72.81%

19.64%

5.46%

0.00% 20.00% 40.00% 60.00% 80.00%

Consumer Non-

Durable

Retailing

Textiles - Products

Sector Allocation* Quantitative Indicators:

15



ICICI Prudential Technology FundSector Fund

Snapshot:Fund Manager : Nimesh ChandanIndicative Investment Horizon: 5 yrs & moreInception date: 03-03-2000Fund Size: Rs. 168.71 croresNAV (As on 31-July-2007):

Growth option: Rs. 16.18**Expense Ratio: 2.39%


WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation in technology sector

Consultancy 25.82 0.15%Quality Assurance Institute (I) Ltd 25.82 0.15%Hardware 515.83 3.06%Cambridge Solutions Ltd 515.83 3.06%Industrial Capital Goods 647.37 3.84%

• Solectron Centum Electronics Ltd 647.37 3.84%Media & Entertainment 2,470.55 14.64%

• Deccan Chronicle Holdings Ltd 2,470.55 14.64%Pharmaceuticals 1,425.58 8.45%

• Elder Pharmaceuticals Ltd 602.55 3.57%Indoco Remedies Ltd 431.90 2.56%Plethico Pharmaceuticals Ltd 391.13 2.32%Power 163.43 0.97%Webel SL Energy Ltd 163.43 0.97%Software 10,846.78 64.29%

• Tata Consultancy Services Ltd 1,420.70 8.42%• Subex Azure Ltd 1,212.85 7.19%• Nucleus Software Exports Ltd 1,183.84 7.02%• 3i Infotech Ltd 984.07 5.83%• HCL Technologies Limited 777.36 4.61%• Tanla Solutions Ltd 630.11 3.73%• Infotech Enterprises Ltd 621.07 3.68%

Sasken Communications Technologies Ltd 582.35 3.45%Allied Digital Services Ltd 558.99 3.31%Zenith Infotech Ltd 557.75 3.31%Geodesic Information Systems Ltd 514.67 3.05%Infosys Technologies Ltd 478.30 2.83%MphasiS Ltd 419.66 2.49%Geometric Software Solutions Ltd 415.49 2.46%Megasoft Ltd 380.53 2.26%HOV Services Ltd 109.04 0.65%Telecom Services 568.05 3.37%Avaya Global Connect Ltd 568.05 3.37%Cash, Call, CBLO & Reverse Repo 444.24 2.63%Other Current Assets (236.28) -1.40%

Total Net Assets 16,871.37 100.00%



Rs. 10000 invested at inception: Technology Fund Vs BSE Tech Index

CAGR – Technology Fund: 6.71%; Benchmark : -2.21%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE Tech Index.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future. 31-Jul-04 was a nonbusiness day.



1 Year SIP 31-Aug-06 12,000.00 833.52 13,486.35 28.25%

3 Year SIP 31-Aug-04 36,000.00 3,857.87 62,420.34 41.43%

5 Year SIP 30-Aug-02 60,000.00 10,541.07 170,554.51 44.58%

Since Inception 3-Mar-00 90,000.00 18,502.73 299,374.17 31.92%


Style Box





Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002, 2004 and 2006.


-2.12%

65.95%

45.48% 43.35%

6.71%1.65%

45.95% 42.17% 38.82%

-2.21%-10.00%0.00%

10.00%20.00%30.00%40.00%50.00%60.00%70.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Technology Fund BSE Tech Index

Rs 16180.00

Rs 8476.02

1,1773,1775,1777,1779,177

11,17713,17715,17717,17719,177

Mar

-00

Aug-

00Ja

n-01

Jun-

01N

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1Ap

r-02

Sep-

02Fe

b-03

Jul-0

3De

c-03

May

-04

Oct

-04

Mar

-05

Aug-

05Ja

n-06

Jun-

06N

ov-0

6Ap

r-07

Technology Fund BSE Tech Index

64.29%

14.64%

8.45%

3.84%

3.37%

3.06%

0.97%

0.15%

0.00% 20.00% 40.00% 60.00% 80.00%

Software


Pharmaceuticals


Telecom Services

Hardware

Power

Consultancy

16

SIP Returns: As on 31-July-2007Period SIP Start Date Total Amount Total No. Market Value SIP

Invested of Units Returns1 Year SIP 31-Aug-06 12,000.00 342.44 13,866.05 35.85%3 Year SIP 31-Aug-04 36,000.00 1,532.44 62,051.41 40.95%5 Year SIP 30-Aug-02 60,000.00 3,763.08 152,374.26 39.51%Since Inception 26-Feb-02 67,000.00 4,529.02 183,388.62 37.61%


ICICI Prudential Index FundIndex Fund

Snapshot:Fund Manager : Yogesh BhattIndicative Investment Horizon: 5 yrs & moreInception date: 26-02-2002Fund Size: Rs. 13.92 croresNAV (As on 31-July-2007): Rs. 40.4919**Expense Ratio: 1.25%



by replicating S&P CNX Nifty index

Auto 60.64 4.35%Tata Motors Ltd 15.34 1.10%Maruti Udyog Ltd 13.89 1.00%Bajaj Auto Ltd 13.56 0.97%Mahindra & Mahindra Ltd 10.19 0.73%Hero Honda Ltd 7.66 0.55%Banks 135.72 9.74%

• ICICI Bank Ltd 56.03 4.02%• State Bank of India Ltd 48.67 3.50%

HDFC Bank Limited 21.78 1.56%Punjab National Bank 9.24 0.66%Cement 38.12 2.74%Grasim Industries Ltd 15.41 1.11%Gujarat Ambuja Cement Ltd 11.38 0.82%Associated Cement Companies Ltd 11.33 0.81%Chemicals 6.40 0.46%Indian Petrochemicals Corporation Ltd 6.40 0.46%Consumer Non-Durable 67.74 4.87%ITC Limited 36.62 2.63%Hindustan Lever Ltd 25.97 1.87%Dabur India Ltd 5.15 0.37%Ferrous Metals 58.10 4.17%Steel Authority of India Ltd 35.35 2.54%Tata Steel Ltd 22.75 1.63%Finance 28.93 2.08%HDFC Ltd 28.93 2.08%Gas 16.28 1.17%Gas Authority of India Ltd 16.28 1.17%Industrial Capital Goods 137.19 9.85%

• Bharat Heavy Electricals Ltd 48.12 3.46%• Larsen & Toubro Ltd 42.12 3.03%

Suzlon Energy Ltd 20.81 1.49%ABB Ltd 13.83 0.99%Siemens India Limited 12.31 0.88%Media & Entertainment 8.10 0.58%Zee Entertainment Enterprises Ltd 8.10 0.58%Non-Ferrous Metals 42.13 3.02%Sterlite Industries (India) Limited 20.67 1.48%Hindalco Industries Ltd 11.88 0.85%National Aluminium Company Limited 9.58 0.69%Oil 110.37 7.92%

• Oil & Natural Gas Company Ltd-Futures 71.04 5.10%Oil & Natural Gas Company Ltd 39.33 2.82%Petroleum Products 190.40 13.67%

• Reliance Industries Ltd 178.81 12.84%Bharat Petroleum Corporation Ltd 6.61 0.47%Hindustan Petroleum Corporation Ltd 4.98 0.36%Pharmaceuticals 38.77 2.79%Sun Pharmaceutical Industries Ltd 10.41 0.75%Cipla Ltd 8.45 0.61%Ranbaxy Laboratories Ltd 8.28 0.59%Dr. Reddy’s Laboratories Ltd 6.06 0.44%Glaxo Smithkline Pharma Ltd 5.57 0.40%Power 18.62 1.34%Reliance Energy Ltd 10.33 0.74%Tata Power Company Limited 8.29 0.60%Software 200.05 14.37%

• Tata Consultancy Services Ltd 64.43 4.63%• Infosys Technologies Ltd 64.21 4.61%

Wipro Ltd 41.31 2.97%Satyam Computer Services Ltd 18.26 1.31%HCL Technologies Limited 11.84 0.85%Telecom Services 175.17 12.58%

• Bharati Airtel Ltd. 97.30 6.99%• Reliance Communications Ventures Ltd 65.06 4.67%

Videsh Sanchar Nigam Ltd 7.41 0.53%Mahanagar Telephone Nigam Ltd 5.40 0.39%Nifty Futures 51.84 3.72%Cash, Call, CBLO & Reverse Repo 119.68 8.60%Other Current Assets (111.92) -8.02%Total Net Assets 1,392.33 100.00%



Rs. 10000 invested at inception: Index Fund Vs S&P CNX Nifty

CAGR – Index Fund : 29.39%; Benchmark : 27.93%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNXNifty. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.31-Jul-04 was a non business day.









11.95%

45.03%43.25% 37.64%

29.39%

10.93%

44.08%40.47% 36.39%

27.93%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Index Fund S&P CNX Nifty

Rs 40491.90

Rs 38076.76

7,70812,70817,70822,70827,70832,70837,70842,70847,708

Feb-

02M

ay-0

2Au

g-02

Nov

-02

Feb-

03M

ay-0

3Au

g-03

Nov

-03

Feb-

04M

ay-0

4Au

g-04

Nov

-04

Feb-

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Nov

-05

Feb-

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Nov

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Feb-

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7

Index Fund S&P CNX Nifty

14.37%

13.67%

12.58%

9.85%

9.74%

7.92%

4.87%

4.35%

4.17%

3.02%

2.79%

2.74%

2.08%

1.34%

1.17%

0.58%

0.46%

0.00% 4.00% 8.00% 12.00% 16.00%

Software

Petroleum Products

Telecom Services

Industrial Capital

Banks

Oil


Auto

Ferrous Metals

Non-Ferrous Metals

Pharmaceuticals

Cement

Finance

Power

Gas


Chemicals

17



Portfolio

SPIcE FundIndex Fund

Snapshot:Fund Manager : Yogesh BhattInvestment Horizon: 5 years & moreInception date: 10-01-2003Fund Size: Rs. 0.86 croresNAV (As on 31-July-2007): Rs. 159.7160**Expense Ratio: 0.80%


WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation by replicating the BSE Sensitive Index

Auto 4.63 5.39%

Bajaj Auto Ltd 1.35 1.57%

Tata Motors Ltd 1.32 1.54%

Mahindra & Mahindra Ltd 1.17 1.36%

Maruti Udyog Ltd 0.79 0.92%

Banks 13.70 15.96%

• ICICI Bank Ltd 8.05 9.38%

• State Bank of India Ltd 3.14 3.66%

HDFC Bank Limited 2.51 2.92%

Cement 3.79 4.41%

Grasim Industries Ltd 1.66 1.93%

Gujarat Ambuja Cement Ltd 1.15 1.34%

Associated Cement Companies Ltd 0.98 1.14%

Consumer Non-Durable 5.54 6.46%

• ITC Limited 3.68 4.29%

Hindustan Lever Ltd 1.86 2.17%

Ferrous Metals 2.29 2.67%

Tata Steel Ltd 2.29 2.67%

Finance 3.75 4.37%

• HDFC Ltd 3.75 4.37%

Industrial Capital Goods 7.84 9.13%

• Larsen & Toubro Ltd 5.42 6.31%

Bharat Heavy Electricals Ltd 2.42 2.82%

Non-Ferrous Metals 1.29 1.50%

Hindalco Industries Ltd 1.29 1.50%

Oil 3.20 3.73%

• Oil & Natural Gas Company Ltd 3.20 3.73%

Petroleum Products 10.79 12.57%

• Reliance Industries Ltd 10.79 12.57%

Pharmaceuticals 2.27 2.65%

Ranbaxy Laboratories Ltd 0.83 0.97%

Cipla Ltd 0.79 0.92%

Dr. Reddy’s Laboratories Ltd 0.65 0.76%

Power 2.71 3.16%

National Thermal Power Corporation Ltd 1.68 1.96%

Reliance Energy Ltd 1.03 1.20%

Software 13.39 15.58%

• Infosys Technologies Ltd 7.85 9.14%

Satyam Computer Services Ltd 2.51 2.92%

Tata Consultancy Services Ltd 1.85 2.15%

Wipro Ltd 1.18 1.37%

Telecom Services 8.18 9.53%

• Bharati Airtel Ltd. 4.91 5.72%

• Reliance Communications Ventures Ltd 3.27 3.81%

Cash, Call, CBLO & Reverse Repo 6.09 7.09%

Other Current Assets (3.61) -4.20%

Total Net Assets 85.85 100.00%• Top Ten Holdings


Rs. 10000 invested at inception: SPICE Vs BSE Sensitive Index

CAGR – SPIcE Fund : 40.81%; Benchmark : 39.98%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE SENSEXIndex.For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.31-Jul-04 was a non business day.

Company/Issuer Mkt Value (Rs. Lakh) % to NAV






10.66%

44.86%44.70% 40.81%

10.36%

44.74% 44.30%39.98%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%

Last6 Months

Last1 year

Last3 years

SinceInception

SPIcE Fund BSE SENSEX

Rs 47548.68

Rs 46296.62

8,65513,65518,65523,65528,65533,65538,65543,65548,65553,655

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

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Oct

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5O

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Oct

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Jan-

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Jul-0

7

SPIcE Fund BSE SENSEX

15.96%

15.59%

12.57%

9.53%

9.13%

6.46%

5.39%

4.41%

4.37%

3.73%

3.16%

2.67%

2.65%

1.50%

0.00% 5.00% 10.00% 15.00% 20.00%

Banks

Software

Petroleum Products

Telecom Services



Auto

Cement

Finance

Oil

Power

Ferrous Metals

Pharmaceuticals

Non-Ferrous Metals

18

Quantitative Indicators – Debt Component Quantitative Indicators – Equity Component

Average Maturity : 3.32 yearsModified Duration : 2.11 yearsYield To Maturity : 7.69%

Average P/E : 26Average P/BV : 4.21Average Dividend Yield : 1.23



1 Year SIP 31-Aug-06 12,000.00 634.59 12,559.61 10.34%3 Year SIP 31-Aug-04 36,000.00 2,117.69 41,912.69 10.69%5 Year SIP 30-Aug-02 60,000.00 3,899.41 77,175.95 10.32%Since Inception 10-Nov-00 82,000.00 5,883.73 116,449.02 10.33%

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.

ICICI Prudential Monthly Income Plan

Snapshot:Fund Managers: Equity : Prashant Kothari

Debt : Chaitanya PandeIndicative Investment Horizon: 1 yr & aboveInception date: 10-11-2000Fund Size: Rs. 573.32 croresNAV (As on 31-July-2007): Cumulative option : Rs. 19.7917**Expense Ratio: 1.95%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Medium term investment in a portfolio of debtand equity (upto 15%) for capital appreciation.

Rs. 10000 invested at inception*: MIP Vs Crisil MIP Blended Index

Performance Record* - Cumulative Option

Rating Profile (as % of debt holding)

*Benchmark start date : 31-03-2002. CAGR – MIP: 10.22%; Benchmark :9.38%. Benchmark is Crisil MIP Blended Index. Past performance may or maynot be sustained in future.

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIPBlended Index. Start date: 31/3/02. For computation of returns the allotment NAVhas been taken as Rs. 10.00. Past performance may or may not be sustained infuture. 31-Jul-04 was a non business day.

Equity Holdings 8,843.97 15.42%Bharati Airtel Ltd. Telecom Services 752.42 1.31%ICICI Bank Ltd Banks 723.02 1.26%Tata Consultancy Services Ltd Software 536.99 0.94%ICI India Ltd Consumer Non-Durable 498.33 0.87%Deccan Chronicle Holdings Ltd Media & Entertainment 463.05 0.81%Bharati Airtel Ltd. -Futures Telecom Services 459.87 0.80%3i Infotech Ltd Software 442.88 0.77%ITC Limited Consumer Non-Durable 412.41 0.72%Pantaloon Retail (India) Ltd Retailing 402.41 0.70%Larsen & Toubro Ltd Industrial Capital Goods 359.62 0.63%Trent Ltd Retailing 339.22 0.59%Patel Engineering Ltd Construction 314.93 0.55%Andhra Bank Ltd Banks 281.16 0.49%Cadila Healthcare Ltd Pharmaceuticals 280.88 0.49%Infosys Technologies Ltd Software 260.83 0.45%Dr. Reddy’s Laboratories Ltd Pharmaceuticals 253.62 0.44%H.E.G. Ltd Industrial Products 229.00 0.40%Firstsource Solutions Ltd Software 224.42 0.39%Proctor & Gamble Hygiene and Healthcare Ltd Consumer Non-Durable 199.95 0.35%Aventis Pharma Ltd Pharmaceuticals 194.50 0.34%IVRCL Infrastructure & Projects Ltd Construction 193.28 0.34%Solectron Centum Electronics Ltd Industrial Capital Goods 175.83 0.31%Siemens India Limited Industrial Capital Goods 166.76 0.29%Sadbhav Engineering Ltd Construction 160.69 0.28%Ahluwalia Contractors Ltd Construction 158.52 0.28%Aditya Birla Nuvo Ltd Textiles - Products 148.12 0.26%Gujarat Apollo Equipments Ltd Industrial Capital Goods 93.77 0.16%Exide Industries Ltd Auto Ancillaries 76.17 0.13%Everonn Systems India Ltd Software 24.01 0.04%Simplex Projects Ltd Construction 9.21 0.02%ABG Heavy Industries Ltd Industrial Capital Goods 8.10 0.01%Debt Holdings 36,950.56 64.45%PSU/PFI Bonds 9,993.54 17.43%

• Power Finance Corporation Ltd AAA 4,954.86 8.64%• Infrastructure Development Finance Corporation AAA 2,469.76 4.31%

Indian Railway Finance Corporation AAA 1,060.47 1.85%Export Import Bank of India Ltd AAA 987.21 1.72%Powergrid Corporation Ltd AAA 521.24 0.91%Private Corporate Securities 6,212.44 10.84%

• PTC RPS Tata Teleservices AAA(SO) 1,726.72 3.01%• PTC Hero Motors Ltd A1+(SO) 1,200.00 2.09%

UTI Bank Ltd AAA 927.03 1.62%Tata Sons Ltd AAA 750.19 1.31%Sundaram Finance Ltd AAA 700.00 1.22%PTC Citi Fleet Trust Citibank AAA(SO) 549.01 0.96%HDFC Ltd AAA 313.14 0.55%PTC RTL Trust Centurion Bank AAA(SO) 33.09 0.06%India Infrastructure Developers Ltd A1+(SO) 13.26 0.02%Government Securities 3,188.00 5.56%

• 7.49% GOI 2017 Sovereign 2,440.25 4.26%8.33% GOI 2036 Sovereign 747.75 1.30%CPs, CDs and Term Deposits 12,812.00 22.34%ICICI Bank Ltd P1+ 9,112.00 15.89%Punjab National Bank Ltd P1+ 3,700.00 6.45%Cash, Call, CBLO & Reverse Repo 4,744.58 8.28%Other Current Assets 11,537.05 20.13%

Total Net Assets 57,331.58 100.00%• Top Five Holdings

PortfolioCompany/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV

Maturity Profile (as % of debt holding)

(An open ended fund. Monthly income is not assured and is subject to the availability of distributable surplus.)

% Unlisted Bonds : 20.24%


Style Box:

Debt Equity

3.88%

12.00%10.91%

10.36%10.69%

4.94%

11.66%

9.49% 10.01%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Monthly Income Plan Crisil MIP Blended index

Rs 16797.97

Rs 16125.51

9,82310,82311,82312,82313,82314,82315,82316,82317,823

Apr-0

2Ju

l-02

Oct

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Jan-

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Apr-0

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Jul-0

7

Monthly Income Plan Crisil MIP Blended index

38.84%

23.86%

17.37%

7.58%

7.54%

4.80%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00%

<182 days

Other Current Assets

3-5 years

1-3 years

5-10 years

> 10 years

AAA and Equivalent59.79%

Sovereign Securities6.57%

Call,Current Assets and

Reverse Repos33.64%

19

Performance Record* - Cumulative option

SIP Returns As on 31-July-2007


1 Year SIP 31-Aug-06 12,000.00 837.10 12,638.62 11.83%3 Year SIP 31-Aug-04 36,000.00 2,909.01 43,920.52 14.09%Since Inception 30-Mar-04 42,000.00 3,517.63 53,109.53 14.14%

Sector Allocation (as % of the equity portfolio)*

Quantitative Indicators – Equity Component


Quantitative Indicators – Debt Component

Average Maturity : 2.67 yearsModified Duration : 1.73 yearsYield To Maturity : 6.86%% Unlisted Bonds : 9.53%

Rating Profile (as % of debt holdings)

ICICI Prudential Income Multiplier Fund

Snapshot:Fund Managers : Equity : Prashant Kothari

Debt : Chaitanya PandeIndicative Investment Horizon: 1 yr & aboveInception date: 30-03-2004Fund Size: Rs. 464.69 croresNAV (As on 31-July-2007):Cumulative option: Rs. 15.0981 Dividend option: Rs. 11.9834**Expense Ratio: 2.02%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Medium term investment in a portfolio of debt and

equity (upto 30%) for capital appreciation.

Rs. 10000 invested at inception: IMP Vs Crisil MIP Blended Index

CAGR – Income Multiplier Fund : 13.14%; Benchmark : 7.63%Benchmark is Crisil MIP Blended Index.Past performance may or may not be sustained in future.

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIPBlended Index. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.31-Jul-04 was a non business day.

Equity Holdings 11,489.47 24.71%• Bharati Airtel Ltd. Telecom Services 1,722.00 3.71%

Tata Consultancy Services Ltd Software 918.56 1.98%ICI India Ltd Consumer Non-Durable 728.86 1.57%ICICI Bank Ltd Banks 710.80 1.53%Trent Ltd Retailing 596.75 1.28%Marico Industries Ltd Consumer Non-Durable 570.80 1.23%Blue Star Ltd Consumer Durables 515.34 1.11%Cadila Healthcare Ltd Pharmaceuticals 476.31 1.02%Larsen & Toubro Ltd Industrial Capital Goods 471.36 1.01%Pantaloon Retail (India) Ltd Retailing 461.54 0.99%Vimta Labs Ltd Healthcare Services 416.50 0.90%Finolex Cables Ltd Industrial Products 406.58 0.87%Siemens India Limited Industrial Capital Goods 384.83 0.83%Infosys Technologies Ltd Software 339.90 0.73%Megasoft Ltd Software 339.33 0.73%Subros Ltd Auto Ancillaries 327.20 0.70%Karur Vysya Bank Ltd Banks 323.05 0.70%Proctor & Gamble Hygiene and Healthcare LtdConsumer Non-Durable 303.92 0.65%Pidilite Industries Ltd Consumer Non-Durable 303.53 0.65%IVRCL Infrastructure & Projects Ltd Construction 251.26 0.54%Madras Cements Ltd Cement 215.10 0.46%FDC Ltd Pharmaceuticals 180.90 0.39%Aditya Birla Nuvo Ltd Textiles - Products 177.74 0.38%Alembic Ltd Pharmaceuticals 156.92 0.34%Exide Industries Ltd Auto Ancillaries 121.40 0.26%Page Industries Ltd Textiles - Products 45.61 0.10%ABG Heavy Industries Ltd Industrial Capital Goods 16.03 0.03%Simplex Projects Ltd Construction 7.35 0.02%Debt Holdings 30,165.61 64.92%PSU/PFI Bonds 3,975.40 8.56%

• Export Import Bank of India Ltd AAA 1,974.43 4.25%Infrastructure Development Finance Corporation AAA 1,481.86 3.19%Indian Railway Finance Corporation AAA 519.11 1.12%Private Corporate Securities 5,922.55 12.74%

• CitiFinancial Consumer Finance India Ltd AAA 2,486.12 5.35%• Tata Sons Ltd AAA 1,667.09 3.59%

PTC Hero Motors Ltd A1+(SO) 1,000.00 2.15%PTC RPS Tata Teleservices AAA(SO) 604.35 1.30%Grasim Industries Ltd AAA 99.16 0.21%PTC TAS Trust Tata Sons A1+(SO) 45.73 0.10%Rabo India Finance Ltd AAA 20.10 0.04%Government Securities 3,702.33 7.97%

• 7.49% GOI 2017 Sovereign 2,928.30 6.30%8.33% GOI 2036 Sovereign 747.75 1.61%8.15% GOI 2022 Sovereign 26.28 0.06%CPs, CDs and Term Deposits 10,204.00 21.96%ICICI Bank Ltd P1+ 6,204.00 13.35%Punjab National Bank Ltd P1+ 4,000.00 8.61%Cash, Call, CBLO & Reverse Repo 6,361.33 13.69%Other Current Assets 4,814.27 10.37%Total Net Assets 46,469.35 100.00%

• Top Five Holdings

PortfolioCompany/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV

Maturity Profile (as % of debt holdings)


Style Box:


EquityDebt

*Pertains to the equity positions only.

3.91%

15.69% 15.24%13.14%

4.94%

11.66%9.49%

7.63%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%18.00%

Last6 Months

Last1 year

Last3 years

SinceInception

Income Multiplier Crisil MIP Blended index

Rs 15121.84

Rs 12660.86

9,44410,444

11,44412,44413,44414,444

15,44416,444

Apr-0

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Jun-

07

Income Multiplier Crisil MIP Blended index


Reverse Repos32.00%



47.74%

14.21%

13.82%

13.59%

2.21%

0.06%

8.37%

0.00% 20.00% 40.00% 60.00%

<182 days

3-5 years


1-3 years

5-10 years

> 10 years

182 days - 1 year 16.64%

15.02%

13.93%

9.23%

9.02%

7.61%

7.10%

4.49%

3.91%

3.63%

3.55%

2.25%

1.95%

1.88%

0.00% 5.00% 10.00% 15.00% 20.00%


Telecom Services

Software

Retailing

Banks


Pharmaceuticals

Consumer Durables

Auto Ancillaries

Healthcare Services

Industrial Products

Construction

Textiles - Products

Cement

20


The ✓ extending beyond the red portion represents the marginal change in the style of the portfolio.Equity allocation to large cap stocks has been increased to protect capital at current valuations.

Sector Allocation* (as % of equity portfolio)

SIP Returns As on 31-July-2007


1 Year SIP 31-Aug-06 12,000.00 300.61 13,515.43 28.82%3 Year SIP 31-Aug-04 36,000.00 1,197.70 53,848.59 29.55%5 Year SIP 30-Aug-02 60,000.00 2,922.09 131,377.17 32.95%Since Inception 31-Aug-01 72,000.00 4,064.50 182,739.92 31.88%

Figures as on 31st Aug, 2004Figures as on 31st Aug, 2004

ICICI Prudential Child Care Plan (Gift)WHY SHOULD ONE INVEST?

For your child between 1-13 years and seeking to saveover a long term horizon

Snapshot:Fund Managers: Equity : Munzal Shah

Debt : Pankaj KajiIndicative Investment Horizon: 6-17 yrsInception date: 31-08-2001Fund Size: Rs. 121.84 croresNAV (As on 31-July-2007) : Rs. 44.96**Expense Ratio: 2.00%**This is a close approximation of the number.

Equity Holdings 8,468.26 69.47%• Provogue (India) Ltd Textiles - Products 467.08 3.83%• Federal Bank Ltd Banks 425.04 3.49%• Sintex Industries Ltd Industrial Products 355.50 2.92%

Asian Paints Ltd Consumer Non-Durable 354.10 2.91%Megasoft Ltd Software 339.21 2.78%Karur Vysya Bank Ltd Banks 333.21 2.73%ICICI Bank Ltd Banks 331.28 2.72%Bharati Airtel Ltd. Telecom Services 315.39 2.59%Vimta Labs Ltd Healthcare Services 309.60 2.54%Gillette India Ltd Consumer Non-Durable 291.71 2.39%3i Infotech Ltd Software 280.49 2.30%Indoco Remedies Ltd Pharmaceuticals 279.28 2.29%Thermax Ltd Industrial Capital Goods 256.38 2.10%Containers Corporation of India Ltd Transportation 253.34 2.08%ICI India Ltd Consumer Non-Durable 245.37 2.01%Ahluwalia Contractors Ltd Construction 238.80 1.96%Orient Paper & Industries Ltd Cement 221.78 1.82%Finolex Cables Ltd Industrial Products 221.42 1.82%Forbes Gokak Ltd Textiles - Cotton 213.07 1.75%Tata Tea Ltd Consumer Non-Durable 192.74 1.58%Pantaloon Retail (India) Ltd Retailing 187.79 1.54%Geometric Software Solutions Ltd Software 177.65 1.46%ITC Limited Consumer Non-Durable 171.00 1.40%Exide Industries Ltd Auto Ancillaries 166.80 1.37%Kalyani Steels Ltd Ferrous Metals 162.30 1.33%Elecon Engneering Co Ltd Industrial Capital Goods 146.16 1.20%Sundaram Clayton Ltd Auto Ancillaries 143.34 1.18%Phillips Carbon Black Ltd Auto Ancillaries 127.91 1.05%Jaiprakash Associates Ltd Construction 125.66 1.03%Time Technoplast Ltd Chemicals 120.95 0.99%Mahindra & Mahindra Ltd Auto 119.61 0.98%Marico Industries Ltd Consumer Non-Durable 112.60 0.92%HOV Services Ltd Software 109.59 0.90%Solectron Centum Electronics Ltd Industrial Capital Goods 100.09 0.82%Page Industries Ltd Textiles - Products 94.39 0.77%Valecha Engineering Ltd Construction 88.67 0.73%Madras Cements Ltd Cement 85.44 0.70%Rico Auto Industries Ltd Auto Ancillaries 78.20 0.64%Gujarat Apollo Equipments Ltd Industrial Capital Goods 65.29 0.54%Dr. Reddy’s Laboratories Ltd Pharmaceuticals 63.41 0.52%Ceat Ltd Auto Ancillaries 54.18 0.44%Orbit Corporation Ltd Construction 40.50 0.33%Simplex Projects Ltd Construction 1.94 0.02%Debt Holdings 3,116.64 25.58%Private Corporate Securities 1,662.55 13.65%

• TGS Investment & Trade Pvt. Ltd. A1+ 500.00 4.10%• DSP Merill Lynch Capital Ltd AAA(SO) 471.33 3.87%

Tata Sons Ltd AAA 250.06 2.05%GE Money Financial Services Ltd AAA 198.69 1.63%Reliance Industries Ltd AAA 99.78 0.82%PTC IBL Trust IndusInd Bank AAA(SO) 81.94 0.67%CitiFinancial Consumer Finance India Ltd AAA 40.02 0.33%Titan Industries Ltd A 11.58 0.10%PTC TAS Trust Tata Sons A1+(SO) 9.15 0.08%CPs, CDs and Term Deposits 1,305.00 10.71%ICICI Bank Ltd P1+ 1,005.00 8.25%Allahabad Bank Ltd P1+ 300.00 2.46%Cash, Call, CBLO & Reverse Repo 149.09 1.22%Other Current Assets 599.32 4.95%Total Net Assets 12,184.22 100.00%


Rs. 10000 invested at inception*: CCP - Gift Vs Crisil Balanced Fund Index

*Benchmark start date - 31.03.2002. CAGR – CCP - Gift : 29.59%;Benchmark : 20.44%. Past performance may or may not be sustained in future.

Portfolio

Company/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV


Style Box




*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilBalanced Fund Index and start date - 31.03.2002. For computation of returnsthe allotment NAV has been taken as Rs. 10.00. Past performance may ormay not be sustained in future. 31-Jul-04 was a non business day.


Debt Equity

*Pertains to the equity positions only.


Average Maturity : 0.39 yearModified Duration : 0.35 yearYield To Maturity : 9.35%



6.84%

41.34%32.97% 33.41%

28.92%

8.65%

28.64%25.10% 24.14%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Child Care Gift Crisil Balanced Fund Index

Rs 39822.85

Rs 26958.17

8,986

13,98618,986

23,98628,986

33,98638,986

43,986

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

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Apr-0

4Ju

l-04

Oct

-04

Jan-

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r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Jul-0

7

Child Care Gift Crisil Balanced Fund Index

60.86%

16.13%

14.89%

7.81%

0.31%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days


182 days - 1 year

1-3 years

3-5 years



Reverse Repos20.14%

A and Equivalent35.43%

16.15%12.86%

10.71%6.81%6.73%6.71%6.63%

5.85%4.05%

3.72%3.66%3.63%

2.99%2.52%

2.22%1.92%

1.43%1.41%

0.00% 5.00% 10.00% 15.00% 20.00%

Consumer Non-DurableBanks

SoftwareIndustrial Products

Auto AncillariesIndustrial Capital

Textiles - ProductsConstruction

PharmaceuticalsTelecom Services

Healthcare ServicesCement

TransportationTextiles - Cotton

RetailingFerrous Metals

ChemicalsAuto

21


The ✓ extending beyond the red portion represents the marginal change in the style of the portfolio.Equity allocation to large cap stocks has been increased to protect capital at current valuations.


SIP Returns As on 31-July-2007Period SIP Start Date Total Amount Total No. Market Value SIP

Invested of Units Returns

1 Year SIP 31-Aug-06 12,000.00 611.72 12,846.98 15.79%3 Year SIP 31-Aug-04 36,000.00 2,107.30 44,256.25 14.65%5 Year SIP 30-Aug-02 60,000.00 4,020.88 84,444.11 14.07%Since Inception 31-Aug-01 72,000.00 5,162.49 108,419.52 13.86%

Quantitative Indicators – Equity Component



Average Maturity : 0.58 yearModified Duration : 0.53 yearYield To Maturity : 6.45%% Unlisted Bonds : 23.83%


ICICI Prudential Child Care Plan (Study)

Snapshot:Fund Managers: Equity : Munzal Shah

Debt : Pankaj KajiIndicative Investment Horizon: 3-5 yrsInception date: 31-08-2001Fund Size: Rs. 29.72 croresNAV (As on 31-July-2007) : Rs. 21.0014**Expense Ratio: 1.50%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?For your child between 13-17 years and on the

threshold of higher studies


*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIPBlended Index and start date - 31.03.2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or may not besustained in future. 31-Jul-04 was a non business day.

Equity Holdings 698.51 23.51%

Bharati Airtel Ltd. Telecom Services 126.15 4.24%

Gillette India Ltd Consumer Non-Durable 47.68 1.60%

Containers Corporation of India Ltd Transportation 43.89 1.48%

Provogue (India) Ltd Textiles - Products 43.65 1.47%

AIA Engineering Ltd Industrial Products 38.95 1.31%

HOV Services Ltd Software 35.96 1.21%

Tanla Solutions Ltd Software 35.87 1.21%

Karur Vysya Bank Ltd Banks 35.76 1.20%

Firstsource Solutions Ltd Software 34.22 1.15%

Federal Bank Ltd Banks 34.20 1.15%

ING Vysya Bank Ltd Banks 33.58 1.13%

Blue Star Ltd Consumer Durables 32.45 1.09%

Marico Industries Ltd Consumer Non-Durable 30.97 1.04%

Asian Paints Ltd Consumer Non-Durable 28.88 0.97%

Exide Industries Ltd Auto Ancillaries 27.80 0.94%

Trent Ltd Retailing 25.44 0.86%

Automobile Corporation of Goa Ltd Auto Ancillaries 24.86 0.84%

3i Infotech Ltd Software 17.72 0.60%

Simplex Projects Ltd Construction 0.48 0.02%

Debt Holdings 2,175.58 73.18%

PSU/PFI Bonds 99.97 3.36%

Nabard AAA 99.97 3.36%

Private Corporate Securities 1,195.49 40.21%

• Rabo India Finance Ltd AAA 271.33 9.13%

• Tata Sons Ltd AAA 250.06 8.41%

• GE Money Financial Services Ltd AAA 199.88 6.72%

• DSP Merill Lynch Capital Ltd P1+ 198.64 6.68%

• Reliance Industries Ltd AAA 189.58 6.38%

PTC TVS Finance AAA(SO) 47.41 1.59%

Trent Ltd AA- 38.59 1.30%

CPs, CDs and Term Deposits 492.68 16.58%

UTI Bank Ltd P1+ 298.60 10.05%

Kotak Mahindra Bank Ltd P1+ 194.08 6.53%


Other Current Assets 98.41 3.31%



Portfolio



Style Box:

Rs. 10000 invested at inception*: CCP - Study Vs Crisil MIP Blended Index

*Benchmark start date - 31.03.2002.CAGR – CCP - Study : 13.07%; Benchmark : 9.38%.Past performance may or may not be sustained in future.

Debt Equity

5.75%

18.60%

14.24% 14.09% 13.36%

4.94%

11.66%9.49% 10.01%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%18.00%20.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Child Care Study Crisil MIP Blended index

Rs 19249.68

Rs 16125.51

9,721

11,721

13,721

15,721

17,721

19,721

21,721

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Jul-0

7

Child Care Study Crisil MIP Blended index

62.26%

20.72%

12.69%

4.33%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

182 days - 1 year

1-3 years


AA and Equivalent

1.70%


Reverse Repos21.37%



22

Performance Record *- Retail Growth Option

Rating Profile (as % of total debt components)


ICICI Prudential Equity & Derivatives FundIncome Optimiser Plan

WHY SHOULD ONE INVEST?Generate low volatility returns by investing in mix of cash equities, equity

derivatives and debt market instruments - relatively more conservative - 65%to 80% in Equity and Equity Derivatives (unhedged exposure limited to 5%)

Snapshot:Fund Managers: Equity : Yogesh Bhatt

Debt : Chaitanya PandeInception date: 30-12-2006Fund Size: Rs. 1,478.58 croresNAV (As on 31-July-2007):

Retail Growth option : Rs. 10.75Inst. Growth option : Rs. 10.77Retail Dividend option : Rs. 10.75

**Expense Ratio:Retail Option : 1.50%Inst. Option : 1.20%



Style Box

Debt Equity

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has beentaken as Rs. 10.00. Past performance may or may not be sustained in future.

Equity Holdings 3,072.66 2.07%ICI India Ltd Consumer Non-Durable 1,094.97 0.74%Indian Petrochemicals Corporation Ltd Chemicals 930.57 0.63%BASF Ltd Chemicals 492.01 0.33%VST Tillers Tractors Ltd Auto 298.75 0.20%Atlas Copco (India) Ltd Consumer Durables 256.36 0.17%Equity & Derivative Holdings 103,380.63 69.93% (105,185.34)Reliance Industries Ltd Petroleum Products 14,555.61 9.84%Reliance Industries Ltd- Futures -15,590.74Reliance Capital Finance Ltd Finance 10,425.00 7.05%Reliance Capital Finance Ltd- Futures -10,507.35State Bank of India Ltd Banks 9,113.86 6.16%State Bank of India Ltd- Futures -9,201.69ICICI Bank Ltd Banks 8,962.09 6.06%ICICI Bank Ltd- Futures -8,676.89Punjab National Bank Banks 6,320.28 4.27%Punjab National Bank- Futures -6,354.63Reliance Energy Ltd Power 3,169.64 2.14%Reliance Energy Ltd- Futures -3,200.39Larsen & Toubro Ltd Industrial Capital Goods 2,540.00 1.72%Larsen & Toubro Ltd- Futures -2,545.84Housing Development and Infrastructure Ltd Construction 2,441.19 1.65%Housing Development and Infrastructure Ltd- Futures -2,464.84Punj Llyod Ltd Construction 2,384.76 1.61%Punj Llyod Ltd- Futures -2,394.84Century Textiles & Industries Ltd Cement 2,351.12 1.59%Century Textiles & Industries Ltd- Futures -2,371.95India Infoline Ltd Finance 2,345.25 1.59%India Infoline Ltd- Futures -2,364.22Divis Laboratories Ltd Pharmaceuticals 2,301.59 1.56%Divis Laboratories Ltd- Futures -2,312.98Industrial Development Bank of India Banks 2,096.87 1.42%Industrial Development Bank of India- Futures -2,113.67Kotak Mahindra Bank Ltd Banks 2,036.93 1.38%Kotak Mahindra Bank Ltd- Futures -2,048.20Hindalco Industries Ltd Non-Ferrous Metals 1,947.93 1.32%Hindalco Industries Ltd- Futures -2,467.62Bank of Baroda Ltd Banks 1,885.80 1.28%Bank of Baroda Ltd- Futures -1,898.69Reliance Communications Ventures Ltd Telecom Services 1,666.94 1.13%Reliance Communications Ventures Ltd- Futures -1,680.21National Thermal Power Corporation Ltd Power 1,665.05 1.13%National Thermal Power Corporation Ltd- Futures -1,675.09Financial Technologies Ltd Software 1,569.32 1.06%Financial Technologies Ltd- Futures -1,585.97Unitech Ltd Construction 1,564.08 1.06%Unitech Ltd- Futures -1,566.18Tata Steel Ltd Ferrous Metals 1,532.67 1.04%Tata Steel Ltd- Futures -1,533.96GMR Infrastructure Ltd Construction 1,518.50 1.03%GMR Infrastructure Ltd- Futures -1,532.98Praj Industries Ltd Industrial Capital Goods 1,492.92 1.01%Praj Industries Ltd- Futures -1,502.87Union Bank of India Ltd Banks 1,420.87 0.96%Union Bank of India Ltd- Futures -1,433.18Mahanagar Telephone Nigam Ltd Telecom Services 1,384.14 0.94%Mahanagar Telephone Nigam Ltd- Futures -1,396.56Alstom Projects India Ltd Industrial Capital Goods 1,203.73 0.81%Alstom Projects India Ltd- Futures -1,209.38Tata Tea Ltd Consumer Non-Durable 1,174.54 0.79%Tata Tea Ltd- Futures -1,186.43Voltas Ltd Consumer Durables 994.38 0.67%Voltas Ltd- Futures -1,002.81Parsvanath Developers Ltd Construction 944.50 0.64%Parsvanath Developers Ltd- Futures -953.47Titan Industries Ltd Consumer Non-Durable 926.12 0.63%Titan Industries Ltd- Futures -934.96Industrial Development Finance Corporation Ltd Finance 840.35 0.57%Industrial Development Finance Corporation Ltd- Futures -840.35ABB Ltd Industrial Capital Goods 699.88 0.47%ABB Ltd- Futures -699.03Power Finance Corporation Ltd Power 625.30 0.42%Power Finance Corporation Ltd- Futures -626.47MphasiS Ltd Software 623.98 0.42%MphasiS Ltd- Futures -624.53New Delhi Television Ltd Media & Entertainment 597.64 0.40%New Delhi Television Ltd- Futures -603.03Gujarat Ambuja Cement Ltd Cement 533.77 0.36%Gujarat Ambuja Cement Ltd- Futures -527.88Pantaloon Retail (India) Ltd Retailing 482.90 0.33%Pantaloon Retail (India) Ltd- Futures -487.31Nagarjuna Construction Company Ltd Construction 444.98 0.30%Nagarjuna Construction Company Ltd- Futures -448.34Gateway Distriparks Ltd Transportation 397.55 0.27%Gateway Distriparks Ltd- Futures -400.03CESC Ltd Power 391.60 0.26%CESC Ltd- Futures -395.72India Cements Ltd Cement 389.61 0.26%India Cements Ltd- Futures -387.73Zee Entertainment Enterprises Ltd Media & Entertainment 328.30 0.22%Zee Entertainment Enterprises Ltd- Futures -327.72Aurobindo Pharma Ltd Pharmaceuticals 325.73 0.22%Aurobindo Pharma Ltd- Futures -328.63Matrix Laboratories Ltd Pharmaceuticals 320.13 0.22%Matrix Laboratories Ltd- Futures -322.66DLF Ltd Construction 306.10 0.21%DLF Ltd- Futures -308.38Bombay Dyeing & Manufacturing Co. Ltd Textiles - Products 300.17 0.20%Bombay Dyeing & Manufacturing Co. Ltd- Futures -303.56Patni Computer Systems Ltd Software 236.11 0.16%Patni Computer Systems Ltd- Futures -238.61Lanco Infratech Ltd Industrial Capital Goods 209.73 0.14%Lanco Infratech Ltd- Futures -211.35Colgate Palmolive (India) Ltd Consumer Non-Durable 207.32 0.14%Colgate Palmolive (India) Ltd- Futures -209.11Bata India Ltd Consumer Non-Durable 185.01 0.13%Bata India Ltd- Futures -187.00Hindustan Lever Ltd Consumer Non-Durable 159.20 0.11%Hindustan Lever Ltd- Futures -157.04Sesa Goa Ltd Ferrous Metals 140.49 0.10%Sesa Goa Ltd- Futures -139.36Great Eastern Shipping Co. Ltd Transportation 126.95 0.09%Great Eastern Shipping Co. Ltd- Futures -127.74Bharat Electonics Ltd Industrial Capital Goods 126.40 0.09%Bharat Electonics Ltd- Futures -126.45Idea Cellular Ltd Telecom Services 90.98 0.06%Idea Cellular Ltd- Futures -91.47Polaris Software Lab Ltd Software 79.86 0.05%Polaris Software Lab Ltd- Futures -80.56I-Flex Solutions Ltd Software 79.52 0.05%I-Flex Solutions Ltd- Futures -80.07SRF Ltd Textiles - Synthetic 60.61 0.04%SRF Ltd- Futures -61.24Aban Lloyd Chiles Offshore Ltd Industrial Capital Goods 54.35 0.04%Aban Lloyd Chiles Offshore Ltd- Futures -54.60Lupin Ltd Pharmaceuticals 51.85 0.04%Lupin Ltd- Futures -51.93Bharat Forge Ltd Industrial Products 28.58 0.02%Bharat Forge Ltd- Futures -28.85Debt Holdings 37,665.51 25.48%PSU/PFI Bonds 3,354.73 2.27%Nabard AAA 3,354.73 2.27%Private Corporate Securities 4,508.62 3.06%Kotak Mahindra Primus Ltd P1+ 2,508.62 1.70%LIC Housing Finance Ltd AAA 1,000.00 0.68%Reliance Capital Finance Ltd A1+ 1,000.00 0.68%CPs, CDs and Term Deposits 21,744.70 14.70%ICICI Bank Ltd P1+ 20,244.70 13.69%Allahabad Bank Ltd P1+ 1,500.00 1.01%Cash, Call, CBLO & Reverse Repo 8,057.46 5.45%Other Current Assets 3,738.96 2.52%Total Net Assets 147,857.76 100.00%

PortfolioCompany/Issuer Sector/Rating Mkt Value % to NAV Mkt Value (Rs.

(Rs. Lakh) Lakh) - Futures




Income Optimiser Crisil Liquid Fund Index

6.23%7.50%

4.18%4.87%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%

Last 6 Months Since Inception

56.69%

-0.39%

2.87%

40.82%

-20.00% 0.00% 20.00% 40.00% 60.00%

182 days - 1 year

<182 days

1-3 years



Reverse Repos28.49%


23

Performance Record *- Retail Growth Option






ICICI Prudential Equity & Derivatives FundWealth Optimiser Plan

Snapshot:

Fund Managers: Equity : Nimesh ChandanDebt : Chaitanya Pande

Inception date: 30-12-2006Fund Size: Rs. 1,141.11 croresNAV (As on 31-July-2007):



WHY SHOULD ONE INVEST?Generate low volatility returns by investing in mix of cash equities, equity

derivatives and debt market instruments - relatively less conservative - 65% to100% in Equity and Equity Derivatives (unhedged exposure limited to 80%)


Style Box:Debt Equity

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilBalanced Fund. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.

Equity Holdings 51,004.56 44.69%Reliance Industries Ltd Petroleum Products 4,517.19 3.96%Tata Consultancy Services Ltd Software 3,636.60 3.19%ICICI Bank Ltd Banks 3,159.33 2.77%Bharati Airtel Ltd. Telecom Services 2,432.97 2.13%Oil & Natural Gas Company Ltd Oil 2,356.61 2.07%State Bank of India Ltd Banks 1,932.38 1.69%Cummins India Ltd Industrial Products 1,575.80 1.38%United Phosphorus Ltd Pesticides 1,569.83 1.38%Larsen & Toubro Ltd Industrial Capital Goods 1,564.68 1.37%Infosys Technologies Ltd Software 1,560.88 1.37%National Thermal Power Corporation Ltd Power 1,465.67 1.28%3i Infotech Ltd Software 1,417.20 1.24%HDFC Ltd Finance 1,411.97 1.24%Tata Steel Ltd Ferrous Metals 1,391.62 1.22%Zee Entertainment Enterprises Ltd Media & Entertainment 1,362.45 1.19%Maruti Udyog Ltd Auto 1,351.28 1.18%Aditya Birla Nuvo Ltd Textiles - Products 1,254.53 1.10%Sun Pharmaceutical Industries Ltd Pharmaceuticals 1,238.50 1.09%Dr. Reddys Laboratories Ltd Pharmaceuticals 1,236.40 1.08%Pantaloon Retail (India) Ltd Retailing 1,192.21 1.04%HCL Technologies Limited Software 1,122.03 0.98%Grasim Industries Ltd Cement 1,047.71 0.92%Crompton Greaves Ltd Industrial Capital Goods 1,026.90 0.90%Cambridge Solutions Ltd Hardware 976.82 0.86%Hindustan Lever Ltd Consumer Non-Durable 930.38 0.82%Lupin Ltd Pharmaceuticals 927.43 0.81%Bharat Electonics Ltd Industrial Capital Goods 919.30 0.81%ITC Limited Consumer Non-Durable 892.62 0.78%Reliance Communications Ventures Ltd Telecom Services 894.40 0.78%HT Media Ltd Media & Entertainment 704.00 0.62%Punjab National Bank Banks 607.82 0.53%Glenmark Pharmaceuticals Ltd Pharmaceuticals 550.00 0.48%MphasiS Ltd Software 536.94 0.47%Bharat Heavy Electricals Ltd Industrial Capital Goods 518.40 0.45%Pfizer Ltd Pharmaceuticals 499.23 0.44%Glaxo Smithkline Pharma Ltd Pharmaceuticals 404.99 0.35%BASF Ltd Chemicals 281.15 0.25%Ballarpur Industries Limited Paper 272.30 0.24%Sterlite Industries (India) Limited Non-Ferrous Metals 264.04 0.23%Equity & Derivative Holdings 27,652.67 24.25% (27,848.02)Reliance Industries Ltd Petroleum Products 3,786.05 3.32%Reliance Industries Ltd- Futures -3,801.35Reliance Communications Ventures Ltd Telecom Services 5,407.77 4.74%Reliance Communications Ventures Ltd- Futures -5,450.82Reliance Energy Ltd Power 5,156.13 4.52%Reliance Energy Ltd- Futures -5,206.14Idea Cellular Ltd Telecom Services 5,059.84 4.43%Idea Cellular Ltd- Futures -5,087.17State Bank of India Ltd Banks 945.89 0.83%State Bank of India Ltd- Futures -955.01DLF Ltd Construction 2,448.80 2.15%DLF Ltd- Futures -2,467.00Punjab National Bank Banks 865.37 0.76%Punjab National Bank- Futures -870.07Grasim Industries Ltd Cement 294.05 0.26%Grasim Industries Ltd- Futures -295.72Mahanagar Telephone Nigam Ltd Telecom Services 876.22 0.77%Mahanagar Telephone Nigam Ltd- Futures -884.08MphasiS Ltd Software 169.56 0.15%MphasiS Ltd- Futures -169.71Divis Laboratories Ltd Pharmaceuticals 635.64 0.56%Divis Laboratories Ltd- Futures -638.78Industrial Development Bank of India Banks 560.60 0.49%Industrial Development Bank of India- Futures -565.09Hindalco Industries Ltd Non-Ferrous Metals 528.59 0.46%Hindalco Industries Ltd- Futures -531.70Indian Hotels Company Ltd Hotels 427.07 0.37%Indian Hotels Company Ltd- Futures -430.74GTL Ltd Software 168.04 0.15%GTL Ltd- Futures -169.20Cairn India Ltd Oil 126.52 0.11%Cairn India Ltd- Futures -127.37Adlabs Films Ltd Media & Entertainment 119.97 0.11%Adlabs Films Ltd- Futures -121.00Praj Industries Ltd Industrial Capital Goods 76.56 0.07%Praj Industries Ltd- Futures -77.07Debt Holdings 34,839.00 30.53%CPs, CDs and Term Deposits 28,074.00 24.60%ICICI Bank Ltd P1+ 28,074.00 24.60%Cash, Call, CBLO & Reverse Repo 6,765.00 5.93%Other Current Assets 615.09 0.53%


PortfolioCompany/Issuer Sector/Rating Mkt Value % to NAV Mkt Value (Rs.

(Rs. Lakh) Lakh) - Futures

Quantitative Indicators – Equity ComponentAverage P/E : 25Average P/BV : 4.07Average Dividend Yield : 0.92

Wealth Optimiser Crisil Balanced Fund Index

9.30%

11.60%

8.65%10.70%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%

Last 6 Months Since Inception



Reverse Repos20.82%

98.27%

1.73%

0.00% 40.00% 80.00% 120.00%

<182 days

Other Current

Assets

24

Snapshot:Fund Managers :Equity : Yogesh Bhatt

Debt : Chaitanya PandeIndicative Investment Horizon: 6 months-1 yearInception date: 31-05-2005Fund Size: Rs. 568.13 croresNAV (As on 31-July-2007):



ICICI Prudential Blended Plan A Portfolio

Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value(Rs. Lakh) (Rs. Lakh)-Futures


Equity Holdings 7.72 0.01%Simplex Projects Ltd Construction 7.72 0.01%Equity & Derivative Holdings 39,094.01 68.81% (39,350.12)

• Punjab National Bank Banks 4,574.09 8.05%Punjab National Bank- Futures -4,598.95

• Bank of Baroda Ltd Banks 3,255.00 5.73%Bank of Baroda Ltd- Futures -3,277.24

• ICICI Bank Ltd Banks 3,242.83 5.71%ICICI Bank Ltd- Futures -3,263.63

• Reliance Capital Finance Ltd Finance 2,401.19 4.23%Reliance Capital Finance Ltd- Futures -2,420.16

• Mahanagar Telephone Nigam Ltd Telecom Services 2,178.52 3.83%Mahanagar Telephone Nigam Ltd- Futures -2,198.06Cipla Ltd Pharmaceuticals 2,118.27 3.73%Cipla Ltd- Futures -2,109.95I-Flex Solutions Ltd Software 377.70 0.66%I-Flex Solutions Ltd- Futures -380.34Petronet LNG Ltd Gas 314.98 0.55%Petronet LNG Ltd- Futures -316.72Polaris Software Lab Ltd Software 305.54 0.54%Polaris Software Lab Ltd- Futures -308.25Orchid Chemicals Ltd Pharmaceuticals 276.41 0.49%Orchid Chemicals Ltd- Futures -277.95Ultratech Cement Company Ltd Cement 252.02 0.44%Ultratech Cement Company Ltd- Futures -251.82SRF Ltd Textiles - Synthetic 177.49 0.31%SRF Ltd- Futures -179.33Mangalore Refineries & Petrochemicals Ltd Petroleum Products 149.99 0.26%Mangalore Refineries & Petrochemicals Ltd- Futures -148.81Patni Computer Systems Ltd Software 137.99 0.24%Patni Computer Systems Ltd- Futures -139.45Chambal Fertilisers & Chemicals Ltd Fertilizers 130.41 0.23%Chambal Fertilisers & Chemicals Ltd- Futures -132.27Karnataka Bank Ltd Banks 88.09 0.16%Karnataka Bank Ltd- Futures -88.59IndusInd Bank Ltd Banks 74.83 0.13%IndusInd Bank Ltd- Futures -75.56Shipping Corporation of India Ltd Transportation 66.86 0.12%Shipping Corporation of India Ltd- Futures -67.58Reliance Energy Ltd Power 61.12 0.11%Reliance Energy Ltd- Futures -61.72Matrix Laboratories Ltd Pharmaceuticals 46.17 0.08%Matrix Laboratories Ltd- Futures -46.54Neyveli Lignite Corporation Ltd Power 19.28 0.03%Neyveli Lignite Corporation Ltd- Futures -19.19Cummins India Ltd Industrial Products 7.49 0.01%Cummins India Ltd- Futures -7.49Century Textiles & Industries Ltd Cement 1,611.75 2.84%Century Textiles & Industries Ltd- Futures -1,626.03Housing Development and Infrastructure Ltd Construction 1,574.74 2.77%Housing Development and Infrastructure Ltd- Futures -1,589.99Jindal Steel & Power Company Ltd Ferrous Metals 1,511.44 2.66%Jindal Steel & Power Company Ltd- Futures -1,517.09Union Bank of India Ltd Banks 1,502.72 2.65%Union Bank of India Ltd- Futures -1,515.73State Bank of India Ltd Banks 1,498.00 2.64%State Bank of India Ltd- Futures -1,512.44DLF Ltd Construction 1,175.42 2.07%DLF Ltd- Futures -1,184.16Industrial Development Bank of India Banks 1,088.86 1.92%Industrial Development Bank of India- Futures -1,097.59New Delhi Television Ltd Media & Entertainment 1,048.03 1.84%New Delhi Television Ltd- Futures -1,057.48Industrial Finance Corporation of India Ltd Finance 1,031.51 1.82%Industrial Finance Corporation of India Ltd- Futures -1,042.29Parsvanath Developers Ltd Construction 1,024.67 1.80%Parsvanath Developers Ltd- Futures -1,034.40GMR Infrastructure Ltd Construction 838.95 1.48%GMR Infrastructure Ltd- Futures -846.95India Infoline Ltd Finance 754.10 1.33%India Infoline Ltd- Futures -760.20LIC Housing Finance Ltd Finance 688.50 1.21%LIC Housing Finance Ltd- Futures -695.11Voltas Ltd Consumer Durables 581.33 1.02%Voltas Ltd- Futures -586.26Praj Industries Ltd Industrial Capital Goods 531.14 0.93%Praj Industries Ltd- Futures -534.68Jai Prakash Hydro Power Ltd Power 527.21 0.93%Jai Prakash Hydro Power Ltd- Futures -532.95Vijaya Bank Banks 504.87 0.89%Vijaya Bank- Futures -509.06Gujarat Narmada Valley Fertilisers Co. Ltd Fertilizers 494.93 0.87%Gujarat Narmada Valley Fertilisers Co. Ltd- Futures -483.86MphasiS Ltd Software 436.33 0.77%MphasiS Ltd- Futures -436.72Essar Oil Ltd Oil 413.24 0.73%Essar Oil Ltd- Futures -417.53Debt Holdings 18,342.10 32.29%PSU/PFI Bonds 987.91 1.74%Infrastructure Development Finance Corporation AAA 987.91 1.74%Private Corporate Securities 23.71 0.04%PTC TVS Finance AAA(SO) 23.71 0.04%CPs, CDs and Term Deposits 7,754.00 13.65%ICICI Bank Ltd P1+ 7,754.00 13.65%Cash, Call, CBLO & Reverse Repo 9,576.48 16.86%Other Current Assets (631.28) -1.11%Total Net Assets 56,812.55 100.00%



* Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilShort Term Bond Fund Index. For Computation of returns the allotment NAVhas been taken as Rs 10.00. Past performance may or may not be sustainedin future.


Maturity Profile: (as % of total debt components)

Asset Allocation: (as % of Net Assets)



WHY SHOULD ONE INVEST?Opportunity to enhance returns from a blend of equity & equity arbitrage (atleast 51%)

and low volatility returns from a minimum debt exposure of 25% for a short time horizon

4.72%

8.90%8.28%

4.58%

7.38%5.96%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

10.00%


Blanded Plan A Crisil Short Term Bond Fund Index


Reverse Repos50.50%


97.99%

5.58%

0.01%

-3.58%

-40.00% 0.00% 40.00% 80.00% 120.00%

<182 days

3-5 years

1-3 years


Unhedged Equity

Holdings0.00%

Debt Holdings31.18%

Hedged Equity

Holdings68.82%

25


* Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilShort Term Bond Fund Index. For Computation of returns the allotment NAVhas been taken as Rs 10.00. Past performance may or may not be sustainedin future.



Maturity Profile: (as % of total debt components)

Snapshot:Fund Managers: Debt : Chaitanya Pande

Equity : Yogesh BhattIndicative Investment Horizon: 6 months-1 yearInception date: 31-05-2005Fund Size: Rs. 40.01 croresNAV (As on 31-July-2007):


**Expense Ratio:Blended Plan B : 1.49%


ICICI Prudential Blended Plan BPortfolio

Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value(Rs. Lakh) (Rs. Lakh)-Futures

Equity Holdings 1,242.35 31.06% (1,251.70)

• Union Bank of India Ltd Banks 343.76 8.59%

Union Bank of India Ltd- Futures -346.74

• ICICI Bank Ltd Banks 334.35 8.36%

ICICI Bank Ltd- Futures -336.49

• Financial Technologies Ltd Software 190.45 4.76%

Financial Technologies Ltd- Futures -192.47

Pantaloon Retail (India) Ltd Retailing 147.55 3.69%

Pantaloon Retail (India) Ltd- Futures -148.9

Voltas Ltd Consumer Durables 127.49 3.19%

Voltas Ltd- Futures -128.57

Nicholas Piramal India Ltd Pharmaceuticals 98.75 2.47%

Nicholas Piramal India Ltd- Futures -98.53

Debt Holdings 2,453.27 61.32%


Power Finance Corporation Ltd AAA 0.98 0.02%


• Tata Sons Ltd AAA 833.55 20.84%

• PTC IBL Trust IndusInd Bank AAA(SO) 819.43 20.48%

PTC TVS Finance AAA(SO) 40.57 1.01%


ICICI Bank Ltd P1+ 350.00 8.75%







WHY SHOULD ONE INVEST?Generate low volaility returns from debt (atleast 51%) along with

an opportunity to enhance returns from equity arbitrage (maximum 49%)

5.01%

8.50%7.44%

4.58%

7.38%

5.96%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%


Blanded Plan B Crisil Short Term Bond Fund Index



Reverse Repos25.88%

30.26%

29.71%

11.06%

28.98%

0.00% 20.00% 40.00%

1-3 years

182 days - 1 year

<182 days


26

SIP Return: As on 31-July-2007


1 Year SIP 31-Aug-06 12,000.00 351.58 13,117.45 21.01%3 Year SIP 31-Aug-04 36,000.00 1,424.88 53,162.27 28.54%5 Year SIP 30-Aug-02 60,000.00 3,468.29 129,401.90 32.28%Since Inception 3-Nov-99 94,000.00 7,047.98 262,960.13 25.99%



Average Maturity : 3.62 yearsModified Duration : 2.40 yearsYield To Maturity : 7.39%




Sector Allocation* (as % of equity portfolio)

Snapshot:Fund Managers: Equity : Deven Sangoi

Debt : Pankaj KajiIndicative Investment Horizon: 3 yrs & moreInception date: 03-11-1999Fund Size: Rs. 425.25 croresNAV (As on 31-July-2007):



WHY SHOULD ONE INVEST?Medium term investment of funds in a portfolio of

equity (minimum) 65% and debt for capital appreciation.

Rs. 10000 invested at inception*: Balanced Fund Vs Crisil Balanced Fund Index


*Benchmark start date - 31.03.2002. CAGR – Balanced Fund : 29.64%;Benchmark : 20.44%. Past performance may or may not be sustained infuture.

*Returns < 1 Year : Absolute, > = 1Year : CAGR. Benchmark - Crisil BalancedFund Index and start date - 31.03.2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or may notbe sustained in future. 31-Jul-04 was a non business day.

Equity Holdings 31,619.34 74.34%• Reliance Industries Ltd Petroleum Products 3,739.44 8.79%• Bharati Airtel Ltd. Telecom Services 1,872.94 4.40%• AIA Engineering Ltd Industrial Products 1,665.86 3.92%• ICICI Bank Ltd Banks 1,664.65 3.91%

Jain Irrigation Systems Ltd Industrial Products 1,642.64 3.86%Bharat Electonics Ltd Industrial Capital Goods 1,576.37 3.71%Oil & Natural Gas Company Ltd-Futures Oil 1,333.53 3.14%Grasim Industries Ltd Cement 1,206.15 2.84%HCL Technologies Limited Software 1,199.23 2.82%Bharat Heavy Electricals Ltd Industrial Capital Goods 1,139.30 2.68%Punjab National Bank Banks 1,083.81 2.55%Tata Consultancy Services Ltd Software 991.77 2.33%Sterlite Optical Technologies Ltd Industrial Products 951.73 2.24%Reliance Communications Ventures Ltd Telecom Services 924.30 2.17%United Phosphorus Ltd Pesticides 913.52 2.15%CMC Ltd. Hardware 885.63 2.08%Dr. Reddy’s Laboratories Ltd Pharmaceuticals 854.02 2.01%Sun Pharmaceutical Industries Ltd Pharmaceuticals 853.26 2.01%Sterlite Industries (India) Limited Non-Ferrous Metals 826.50 1.94%HOV Services Ltd Software 804.30 1.89%Century Textiles & Industries Ltd Cement 727.90 1.71%IVRCL Infrastructure & Projects Ltd Construction 718.24 1.69%Bank of Baroda Ltd Banks 662.76 1.56%Time Technoplast Ltd Chemicals 550.32 1.29%Steel Authority of India Ltd Ferrous Metals 511.51 1.20%Cummins India Ltd Industrial Products 505.52 1.19%Sundaram Clayton Ltd Auto Ancillaries 502.68 1.18%Tata Steel Ltd Ferrous Metals 477.35 1.12%Andhra Bank Ltd Banks 435.30 1.02%Sadbhav Engineering Ltd Construction 321.38 0.76%Siemens India Limited Industrial Capital Goods 43.61 0.10%Oil & Natural Gas Company Ltd Oil 17.07 0.04%Asian Paints Ltd Consumer Non-Durable 9.74 0.02%Simplex Projects Ltd Construction 7.01 0.02%Debt Holdings 12,978.29 30.51%PSU/PFI Bonds 2,415.08 5.67%Infrastructure Development Finance Corp. AAA 1,481.86 3.48%Indian Railway Finance Corporation AAA 933.22 2.19%Private Corporate Securities 1,536.36 3.61%PTC RPS Tata Teleservices AAA(SO) 777.02 1.83%Tata Sons Ltd AAA 750.19 1.76%PTC TAS Trust Tata Sons A1+(SO) 9.15 0.02%Government Securities 2,440.25 5.74%

• 7.49% GOI 2017 Sovereign 2,440.25 5.74%CPs, CDs and Term Deposits 3,838.00 9.03%ICICI Bank Ltd P1+ 3,088.00 7.26%Allahabad Bank Ltd P1+ 450.00 1.06%Punjab National Bank Ltd P1+ 300.00 0.71%Cash, Call, CBLO & Reverse Repo 2,748.60 6.46%Other Current Assets (2,072.47) -4.85%Total Net Assets 42,525.16 100.00%


Portfolio




Style Box:Debt Equity

ICICI Prudential Balanced Fund

4.72%

30.32%33.78% 33.02%

18.53%

8.65%

28.64%25.10% 24.14%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Balanced Fund Crisil Balanced Fund Index

Rs 39903.74

Rs 26958.17

8,98613,986

18,98623,98628,98633,986

38,98643,986

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Jul-0

7

Balanced Fund Crisil Balanced Fund Index

15.08%12.17%

11.83%9.47%

8.84%8.73%

6.11%5.40%

4.27%3.31%3.13%

2.89%2.80%2.61%

1.74%1.59%

0.03%

0.00% 4.00% 8.00% 12.00% 16.00%

Industrial ProductsBanks

Petroleum ProductsSoftware

Telecom ServicesIndustrial Capital

CementPharmaceuticals

OilConstruction

Ferrous MetalsPesticidesHardware

Non-Ferrous MetalsChemicals

Auto AncillariesConsumer Non-Durable

60.48%

22.38%

13.59%

-19.01%

8.56%

14.01%

-40.00% -20.00% 0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

5-10 years

1-3 years

3-5 years

> 10 years


27

INVESTMENT HORIZON 1 Month to 36 Months

ICICI Prudential Fixed Maturity Plan WHY SHOULD ONE INVEST?Those who have a fixed investment horizon

ranging from 1 month to 36 monthsFigures as on 31-July-2007

Fund Manager : Chaitanya Pande

PORTFOLIO

Company/Issuer Sector/ Mkt.Value % toRating (Rs.Lacs) NAV

ICICI Prudential FMPSeries 34 - 17 Month Plan


DSP Merill Lynch Capital Ltd AAA 1,201.21 17.40%

CitiFinancial Consumer Finance India Ltd AAA 1,170.71 16.96%

Sundaram Finance Ltd AAA 990.83 14.35%

GE Money Financial Services Ltd AA+ 904.73 13.10%

Ultratech Cement Company Ltd AA+ 887.32 12.85%

Rabo India Finance Ltd AAA 713.49 10.33%

GE Capital Services India Ltd AA+ 603.15 8.74%




ICICI Prudential FMP Series 37 - 1 Year Plan A

CPs, CDs and Term Deposits 27,846.15 99.44%

HSBC Ltd F1+ 27,846.15 99.44%




ICICI Prudential FMP Series 34 - 18 Months Plan

PSU/PFI Bonds 3,581.91 14.34%

Indian Railway Finance Corporation AAA 3,423.34 13.71%



GE Money Financial Services Ltd AAA 4,797.12 19.21%

Mahindra & Mahindra Financial Services Ltd AA+ 4,642.16 18.59%

DSP Merill Lynch Capital Ltd AAA(SO) 4,606.79 18.45%

Citicorp Maruti Finance Ltd AAA 4,504.48 18.04%



Other Current Assets 1,328.63 5.30%


ICICI Prudential FMP Series 34 - 1 Year Plan B

PSU/PFI Bonds 5,360.86 3.95%

PTC Power Finance Corporation Ltd AAA 4,234.35 3.12%

State Bank of India Ltd AAA 1,126.51 0.83%


HDFC Ltd AAA 15,171.23 11.19%

HDFC Bank Ltd AAA 12,230.22 9.02%

Emaar Mgf Land Pvt Ltd A1+(SO) 11,707.03 8.64%

Cholamandalam Invest. & Finance Co. Ltd AA 10,152.98 7.49%

PTC Kotak Mahindra Bank Ltd. AAA(SO) 9,310.15 6.87%


L&T Finance Ltd A1+(SO) 5,067.51 3.74%

PTC KES Loan Trust GECSI A1+(SO) 5,056.98 3.73%

PTC IL & FS Investmart Ltd AAA(SO) 4,699.18 3.47%

Mahindra & Mahindra Financial Services Ltd AA+ 263.43 0.19%


State Bank of Patiala Ltd P1+ 10,000.00 7.38%

ICICI Bank Ltd P1+ 9,500.00 7.01%

HDFC Ltd P1+ 8,428.42 6.22%

Export Import Bank of India Ltd AAA 7,154.86 5.28%

UTI Bank Ltd P1+ 7,000.00 5.17%

HSBC Ltd F1+ 2,416.71 1.78%

Birla Home Finance Ltd A1+ 2,327.10 1.72%


Infrastructure Development Finance Corp. P1+ 714.88 0.53%

Cholamandalam Invest. & Finance Co. Ltd P1+ 677.88 0.50%


Other Current Assets 2,047.73 1.52%Total Net Assets 135,523.72 100.00%

ICICI Prudential Series 36 - 18 Months Plan A


Cholamandalam Investment & Finance Co. Ltd AA 2,438.45 19.73%

PTC Shriram Transport F1+ 1,847.00 14.94%

PTC ICL Trust TMFL YES Bank AA+SO 1,846.97 14.94%

Kotak Mahindra Primus Ltd AA 1,829.28 14.80%

L&T Finance Ltd A1+(SO) 1,826.16 14.77%

PTC DAS Trust Standard Chartered Bank A1+(SO) 1,726.31 13.97%




ICICI Prudential FMPSeries 35 - 13 Month Plan A


Rabo India Finance Ltd AAA 5,061.11 19.37%


Citicorp Maruti Finance Ltd AAA 3,629.30 13.89%

PTC UBL Trust DSP Merrill Lynch Capital Ltd F1+ 3,537.76 13.54%

L&T Finance Ltd AA+ 500.76 1.92%



Infrastructure Development Finance Corporation P1+ 4,716.22 18.05%

HDFC Ltd P1+ 3,130.55 11.98%




ICICI Prudential FMP Series 35 - 13 Month Plan B

PSU/PFI Bonds 4,108.64 5.35%

Infrastructure Development Finance Corporation AAA 4,108.64 5.35%


HDFC Ltd AAA 16,933.90 22.03%

Emaar Mgf Land Pvt Ltd A1+(SO) 7,126.02 9.27%








UTI Bank Ltd P1+ 7,500.00 9.76%

ICICI Bank Ltd P1+ 7,500.00 9.76%




ICICI Prudential Series 36 - 18 Months Plan B




PTC Shriram Transport AAA 5,019.95 8.86%



PTC VPT Trust SCB AAA 3,011.15 5.32%


PTC KPI Loan Trust GECSI AAA 2,520.29 4.45%

PTC ICL Trust YES Bank A1+(SO) 2,509.78 4.43%

L&T Finance Ltd AA+ 1,542.40 2.72%


Standard Chartered Bank Ltd F1+ 16,422.05 29.00%


Other Current Assets 301.36 0.54%Total Net Assets 56,631.44 100.00%

28




ICICI Prudential FMP Series 34 - 16 months plan

PSU/PFI Bonds 3,014.65 10.18%




DSP Merill Lynch Capital Ltd AAA(SO) 3,717.82 12.55%


L&T Finance Ltd AA+ 3,004.54 10.14%

Citicorp Finance (India) Ltd AAA 2,493.53 8.42%

GE Capital Services India Ltd AA+ 1,407.35 4.75%

GE Money Financial Services Ltd AA+ 1,105.78 3.73%

PTC DAS Trust Standard Chartered Bank A1+(SO) 800.58 2.70%


Standard Chartered Bank Ltd F1+ 3,483.47 11.76%

HDFC Ltd P1+ 770.60 2.60%




ICICI Prudential FMPseries 34 - 15 months plan

PSU/PFI Bonds 3,938.82 9.15%





GE Capital Services India Ltd AAA 5,070.05 11.78%

Citicorp Finance (India) Ltd AAA 5,065.76 11.77%




Sundaram Finance Ltd AAA 1,486.25 3.45%

Ultratech Cement Company Ltd AA+ 591.55 1.37%

Citicorp Maruti Finance Ltd AAA 298.30 0.69%

DSP Merill Lynch Capital Ltd AAA(SO) 219.85 0.51%


HDFC Ltd P1+ 2,119.14 4.92%

Cash, Call, CBLO & Reverse Repo 3,565.19 8.29%



ICICI Prudential Series 37 - 3 Months Plus Plan B


Rabo India Finance Ltd P1+ 8,000.00 14.41%

GE Money Financial Services Ltd P1+ 8,000.00 14.41%


HDFC Bank Ltd P1+ 13,297.79 23.95%

IDBI Bank Ltd P1+ 11,517.64 20.75%


Allahabad Bank Ltd P1+ 5,390.00 9.71%

Kotak Mahindra Bank Ltd P1+ 2,687.32 4.84%





PSU/PFI Bonds 3,250.23 14.67%



HDFC Ltd AAA 4,376.63 19.76%




PTC DAS Trust Standard Chartered Bank A1+(SO) 900.65 4.07%


UTI Bank Ltd P1+ 2,000.00 9.03%

ICICI Bank Ltd P1+ 2,000.00 9.03%





PSU/PFI Bonds 0.98 0.01%Power Finance Corporation Ltd AAA 0.98 0.01%Private Corporate Securities 2,500.00 13.87%Emaar Mgf Land Pvt Ltd A1+(SO) 2,500.00 13.87%CPs, CDs and Term Deposits 14,819.89 82.24%Standard Chartered Bank Ltd F1+ 4,976.38 27.62%Jammu & Kashmir Bank Ltd AAA 3,625.51 20.12%IDBI Bank Ltd P1+ 3,218.00 17.86%UTI Bank Ltd P1+ 1,500.00 8.32%ICICI Bank Ltd P1+ 1,500.00 8.32%Cash, Call, CBLO & Reverse Repo 540.96 3.00%Other Current Assets 158.53 0.88%Total Net Assets 18,020.36 100.00%

ICICI Prudential FMP Series 38 - 1 Year Plan A


PTC Electrosteel Castings Ltd GTL Trust A1+(SO) 3,534.75 15.04%

Sundaram Finance Ltd A1+ 2,527.35 10.75%



Industrial Development Bank of India A1+ 9,239.42 39.32%

Allahabad Bank Ltd A1+ 3,785.54 16.11%

IDBI Bank Ltd P1+ 2,238.91 9.53%




ICICI Prudential Series 35 - 1 Year Plan


CitiFinancial Consumer Finance India Ltd AAA(SO) 2,538.86 10.63%

HDFC Ltd AAA 1,652.53 6.92%

Citicorp Maruti Finance Ltd AAA 49.72 0.21%

Citicorp Finance (India) Ltd AAA 20.11 0.08%


Kotak Mahindra Bank Ltd P1+ 5,197.54 21.76%

American Express Bank Ltd P1+ 5,108.90 21.39%

HSBC Ltd F1+ 5,019.32 21.02%

Cholamandalam Investment & Finance Co. Ltd P1+ 4,178.69 17.50%




ICICI Prudential Series 38 - 3 Months Plan B


Kotak Mahindra Primus Ltd P1+ 1,981.89 2.74%


Industrial Development Bank of India P1+ 5,137.17 7.10%

Indiabulls Financial Services Ltd P1+ 4,986.90 6.89%


Indian Bank Ltd A1+ 9,889.31 13.67%

GE Capital Services India Ltd P1+ 9,884.42 13.66%

Union Bank of India Ltd P1+ 9,881.46 13.66%

HDFC Bank Ltd P1+ 9,864.83 13.63%

Standard Chartered Bank Ltd P1+ 9,856.81 13.62%





ICICI Prudential FMP Series 38 - 1 Year Plan B


Nabard AAA 498.63 12.17%

Indian Railway Finance Corporation AAA 496.00 12.10%



Sundaram Finance Ltd AA+ 500.15 12.20%


L&T Finance Ltd P1+ 925.11 22.57%




29




ICICI Prudential FMP 34_1 Year Plan A

PSU/PFI Bonds 0.98 0.01%Power Finance Corporation Ltd AAA 0.98 0.01%Private Corporate Securities 8,553.64 52.56%GE Money Financial Services Ltd AAA 2,284.98 14.04%DSP Merill Lynch Capital Ltd P1+ 2,284.36 14.04%HDFC Ltd AAA 2,001.94 12.30%Hindalco Industries Ltd AAA 1,982.36 12.18%CPs, CDs and Term Deposits 5,238.86 32.20%Bajaj Auto Ltd P1+ 2,238.86 13.76%UTI Bank Ltd P1+ 1,500.00 9.22%Punjab National Bank Ltd P1+ 1,500.00 9.22%Cash, Call, CBLO & Reverse Repo 1,900.69 11.68%Other Current Assets 576.97 3.55%Total Net Assets 16,271.14 100.00%

ICICI Prudential Series 38 - 3 Months Plan D

Private Corporate Securities 2,400.00 26.54%JM Financial & Investment ConsultancyServices Pvt. Ltd P1+ 1,200.00 13.27%Cholamandalam Investment & Finance Co. Ltd P1+ 1,200.00 13.27%CPs, CDs and Term Deposits 6,591.42 72.88%HSBC Ltd F1+ 4,845.42 53.57%National Housing Bank Ltd P1+ 1,746.00 19.31%Cash, Call, CBLO & Reverse Repo 33.47 0.37%Other Current Assets 19.30 0.21%Total Net Assets 9,044.19 100.00%

ICICI Prudential Series 38 - 3 Months Plan C

PSU/PFI Bonds 1,500.00 12.02%

CanBank Factors Ltd P1+ 1,500.00 12.02%


Birla Global Finance Ltd A1+ 1,500.00 12.02%


Infrastructure Development Finance Corporation P1+ 4,497.78 36.03%

State Bank of India Ltd P1+ 4,468.37 35.79%

National Housing Bank Ltd P1+ 436.50 3.50%




PERFORMANCEPerformance Records for FMP- Retail Growth Plan

Scheme Name Date Period NAV *NAV as on Returns25-July-07

ICICI Prudential Hybrid FMP13 Months Plan 30-Aug-06 Since inception 10.0000 10.6595 6.60%

ICICI Prudential FMP Series34 - 1 Year Plan A 11-Nov-06 Since inception 10.0000 10.5123 5.12%

ICICI Prudential FMP Series34 - 18 Months Plan 25-Nov-06 Since inception 10.0000 10.5491 5.49%

ICICI Prudential FMP Series34 - 17 Months Plan 23-Dec-06 Since inception 10.0000 10.5273 5.27%

ICICI Prudential FMP Series34 - 16 Months Plan 22-Jan-07 Since inception 10.0000 10.4953 4.95%

ICICI Prudential FMP Series34 - 15 Months Plan 27-Feb-07 Since inception 10.0000 10.5139 5.14%

ICICI Prudential FMP Series35 - 13 Months Plan A 9-Mar-07 Since inception 10.0000 10.4655 4.66%

ICICI Prudential FMP Series34 - 6 Months Plan 9-Mar-07 Since inception 10.0000 10.3812 3.81%

ICICI Prudential FMP Series35 - 13 Months Plan B 16-Mar-07 Since inception 10.0000 10.4680 4.68%

ICICI Prudential FMPSeries37 - 14 Months Plan 23-Mar-07 Since inception 10.0000 10.4651 4.65%

ICICI Prudential FMP Series34 - 1 Year Plan B 29-Mar-07 Since inception 10.0000 10.4506 4.51%

ICICI Prudential FMP Series37 - 1 Year Plan A 30-Mar-07 Since inception 10.0000 10.3290 3.29%

ICICI Prudential FMP Series35 - 1 Year Plan 19-Apr-07 Since inception 10.0000 10.3062 3.06%

ICICI Prudential FMPSeries37 - 3 Months Plus Plan B 27-Apr-07 Since inception 10.0000 10.2552 2.55%

ICICI Prudential FMP Series38 - 3 Months Plan B 11-May-07 Since inception 10.0000 10.2055 2.06%

ICICI Prudential FMP Series38 - 1 Year Plan A 18-May-07 Since inception 10.0000 10.2438 2.44%

ICICI Prudential FMP Series38 - 3 Months Plan C 30-May-07 Since inception 10.0000 10.1338 1.34%

ICICI Prudential FMP Series36 - 18 Months Plan A 31-May-07 Since inception 10.0000 10.2703 2.70%

ICICI Prudential FMP Series38 - 3 Months Plan D 29-Jun-07 Since inception 10.0000 10.0578 0.58%

ICICI Prudential FMP Series36 - 18 Months Plan B 13-Jul-07 Since inception 10.0000 10.0278 0.28%

* NAV is declared on a weekly basis.

Returns >= 1 Year are CAGR, < 1 Year are Absolute. Note: For computation of returns theallotment NAV has been taken as Rs 10.00. Past performance may or may not be sustainedin the future.

PS: The units under ICICI Prudential FMP Series 38 - 1 Year Plan B were alloted on26-Jul-07 and the NAV for the same would be declared on 01-Aug-07.

Fund Size Rs. 7,816.72 Crores

ICICI Prudential Hybrid FMP - 13 Months

PSU/PFI Bonds 9,952.55 11.80%Infrastructure Development Finance Corporation AAA 9,952.55 11.80%Private Corporate Securities 28,882.63 34.26%HDFC Ltd AAA 13,928.21 16.52%Reliance Capital Finance Ltd A1+ 5,000.00 5.93%PTC GE Capital Services India Ltd AAA 9,954.42 11.81%CPs, CDs and Term Deposits 38,852.16 46.07%Punjab National Bank Ltd F1+ 12,116.48 14.37%American Express Bank Ltd P1+ 9,789.37 11.61%Industrial Development Bank of India P1+ 8,400.00 9.96%Allahabad Bank Ltd P1+ 8,400.00 9.96%Kotak Mahindra Bank Ltd P1+ 146.31 0.17%Cash, Call, CBLO & Reverse Repo 2,779.03 3.30%Other Current Assets 3,845.14 4.57%Total Net Assets 84,311.51 100.00%

30

ICICI Prudential Interval Fund WHY SHOULD ONE INVEST?Risk averse investors seeking returns on a held

to maturity basis.Figures as on 31-July-2007


INVESTMENT HORIZON 1 Month to 15 Months

PORTFOLIO

Company/Issuer Sector/ Mkt.Value % toRating (Rs.Lacs) NAV

ICICI Prudential Interval Fund-Qtrly Int Plan III


Bajaj Auto Ltd P1+ 194.68 45.42%



Total Net Assets 428.66 100.00%

ICICI Prudential Interval Fund-Qtrly Int Plan II


Blue Star Ltd P1+ 1,500.00 6.68%

Birla Global Finance Ltd A1+ 1,000.00 4.45%


Standard Chartered Investment & Loan (India) Ltd P1+ 5,763.17 25.66%

UCO Bank AAA 6,921.79 30.82%

Citibank P1+ 4,933.49 21.97%

Bajaj Auto Ltd P1+ 1,448.26 6.45%




PERFORMANCEPerformance Records for Interval Fund - Retail Growth Plan

Scheme Name Date Period NAV NAV as On Returns31-July-07

ICICI Prudential Interval Fund-Monthly Interval Plan I 12-May-07 Since inception 10.0000 10.1801 1.80%

ICICI Prudential Interval Fund-Quarterly Interval Plan I 15-May-07 Since inception 10.0000 10.2101 2.10%

ICICI Prudential Interval Fund-Monthly Interval Plan II 26-May-07 Since inception 10.0000 10.1590 1.59%

ICICI Prudential Interval Fund-Quarterly Interval Plan II 15-Jun-07 Since inception 10.0000 10.1064 1.06%

ICICI Prudential Interval Fund-Quarterly Interval Plan III 20-Jul-07 Since inception 10.0000 10.0052 0.05%

Returns >= 1 Year are CAGR, < 1 Year are Absolute. Note: For computation of returns theallotment NAV has been taken as Rs 10.00. Past performance may or may not be sustainedin the future.

Fund Size Rs. 575.57 Crores

ICICI Prudential Interval Fund-Mntly Int Plan II


UCO Bank P1+ 473.95 75.78%

Essel Propack Ltd A1+ 147.85 23.64%




ICICI Prudential Interval Fund-Qtrly Int Plan I





State Bank of Mysore Ltd P1+ 5,419.88 16.32%

Edelweiss Securities Pvt Ltd P1+ 4,981.09 15.00%

State Bank of India Ltd P1+ 4,935.78 14.86%

UCO Bank P1+ 2,438.85 7.34%

HSBC Ltd F1+ 2,407.84 7.25%




ICICI Prudential Interval Fund-Mntly Int Plan I



UTI Bank Ltd P1+ 368.27 44.16%




31



Maturity profile:Performance Record *- Cumulative Option

Rs. 10000 invested at inception: Flexible Vs Crisil Composite Bond Fund Index

Rating Profile

PSU/PFI Bonds 19,435.13 5.10%• Industrial Development Bank of India AA+ 9,440.57 2.48%

Nabard AAA 5,688.56 1.49%Export Import Bank of India Ltd AAA 2,998.65 0.79%Union Bank of India Ltd AA 1,000.00 0.26%Power Finance Corporation Ltd AAA 307.35 0.08%Private Corporate Securities 64,535.36 16.94%

• PTC Credit Asset Trust Series HSBC F1+SO 15,126.20 3.97%• PTC Shriram Transport F1+ 9,399.83 2.47%• Reliance Capital Finance Ltd A1+ 9,000.00 2.36%

TGS Investment & Trade Pvt. Ltd. A1+ 4,500.00 1.18%PTC IBL Trust IndusInd Bank AAA(SO) 4,261.05 1.12%GE Capital Services India Ltd P1+ 4,000.00 1.05%PTC Auto Sec Trust Mixpool Jun07 TMFL AAA(SO) 2,547.41 0.67%GE Countrywide Finacial Services Ltd AAA 2,500.00 0.66%Sundaram Finance Ltd AA+ 2,500.00 0.66%PTC ICL Trust Birla Home Finance P1+SO 2,004.33 0.53%Hindalco Industries Ltd AAA 1,989.70 0.52%PTC Citi Fleet Trust Citibank AAA(SO) 1,768.37 0.46%DSP Merill Lynch Capital Ltd P1+ 1,220.00 0.32%Mahindra & Mahindra Financial Services Ltd AA+ 1,019.97 0.27%Oscar Investments Ltd Unrated 700.00 0.18%PTC BHPC Tata Motors AAA(SO) 512.98 0.13%Reliance Industries Ltd AAA 508.88 0.13%Grasim Industries Ltd AAA 495.18 0.13%PTC DAS Trust Standard Chartered Bank A1+(SO) 481.46 0.13%Treasury Bills 6,651.64 1.74%

• 182 Day T Bill (MD 12/12/2007) Sovereign 6,651.64 1.74%CPs, CDs and Term Deposits 243,742.21 63.95%Essel Propack Ltd A1+ 29,421.89 7.72%Syndicate Bank Ltd P1+ 25,000.00 6.56%HDFC Bank Ltd P1+ 23,935.75 6.28%State Bank of Patiala Ltd P1+ 21,371.29 5.61%Punjab National Bank Ltd P1+ 20,000.00 5.25%ING Vysya Bank Ltd P1+ 19,819.67 5.20%Union Bank of India Ltd P1+ 15,231.85 3.99%HDFC Ltd P1+ 14,448.71 3.79%Allahabad Bank Ltd AAA 9,573.50 2.51%UTI Bank Ltd P1+ 9,114.29 2.39%UCO Bank P1+ 8,695.07 2.28%Kotak Mahindra Bank Ltd P1+ 7,314.06 1.92%ABN Amro Bank Ltd A1+ 7,200.88 1.89%Jammu & Kashmir Bank Ltd AAA 6,239.83 1.64%IDBI Bank Ltd P1+ 4,953.82 1.30%GE Capital Transportation Financial Services Ltd P1+ 4,660.53 1.22%YES Bank F1+ 4,324.99 1.13%American Express Bank Ltd P1+ 4,180.01 1.10%Cholamandalam Investment & Finance Co. Ltd P1+ 2,572.22 0.67%GE Money Financial Services Ltd P1+ 2,469.27 0.65%State Bank of Mysore Ltd P1+ 2,391.75 0.63%State Bank of Indore Ltd P1+ 414.46 0.11%UTI Securities Ltd P1+ 408.37 0.11%Cash, Call, CBLO & Reverse Repo 19,978.32 5.24%Other Current Assets 26,931.85 7.03%Total Net Assets 381,274.51 100.00%


Snapshot:

Fund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & aboveInception date: 27-09-2002Fund Size: Rs. 3,812.75 croresNAV (As on 31-July-2007):Cumulative option : Rs. 14.1265**Expense Ratio : 0.40%


WHY SHOULD ONE INVEST?Medium term investment for returns generated

from managing interest rate volatility

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilComposite Bond Fund Index. For computation of returns the allotment NAVhas been taken as Rs. 10.00. Past performance may or may not be sustainedin future. 31-Jul-04 was a non business day.

ICICI Prudential Flexible Income Plan

CAGR – Flexible Income Plan : 7.39%; Benchmark : 5.24%Past performance may or may not be sustained in future.

PortfolioCompany/Issuer Rating Mkt Value (Rs. Lakh) % to NAVStyle Box


4.30%

8.14%

6.10%7.39%

3.73%

6.45%

4.56% 5.24%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last6 Months

Last1 year

Last3 years

SinceInception

Flexible Income Plan Crisil Composite Bond Fund Index

Rs 14126.50

Rs 12808.70

9,95010,45010,95011,45011,95012,45012,95013,45013,95014,450

Sep-

02De

c-02

Mar

-03

Jun-

03Se

p-03

Dec-

03M

ar-0

4Ju

n-04

Sep-

04De

c-04

Mar

-05

Jun-

05Se

p-05

Dec-

05M

ar-0

6Ju

n-06

Sep-

06De

c-06

Mar

-07

Jun-

07

Flexible Income Plan Crisil Composite Bond Fund Index

7.06%

6.17%

5.46%

0.26%

81.05%

-20.00% 10.00% 40.00% 70.00% 100.00%

<182 days

Other CurrentAssets

182 days - 1 year

1-3 years

3-5 years

Unrated0.18%



Reverse Repos12.30%

AA and Equivalent

3.66%


32

Quantitative Indicators: Treasury Plan

Average Maturity : 0.50 YearModified Duration : 0.46 YearYield To Maturity : 9.63%% Unlisted Bonds : 0.00%

Quantitative Indicators: Investment PlanAverage Maturity : 17.86 YearsModified Duration : 8.22 YearsYield To Maturity : 8.14%% Unlisted Bonds : 16.95%

Maturity Profile:Maturity Profile:

Performance Record* - Growth Option (Treasury Plan)

Rs. 10000 invested at inception*: Gilt -Treasury Vs I Sec Si Bex

WHY SHOULD ONE INVEST?Treasury Plan: Short term deployment of funds in a portfolio of G-Secs with low volatility

Investment Plan: Medium term investment in a portfolio of G-Secs for steady returns with market volatility

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is I Sec Si Bex. Benchmarkstart date : 31-03-2002. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future. 31-Jul-04 was a nonbusiness day.

ICICI Prudential Gilt Fund

*Benchmark start date : 31-03-2002. CAGR – Gilt - Treasury : 6.05%; Benchmark : 6.42%Past performance may or may not be sustained in future.

Style Box Snapshot: Investment PlanFund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & aboveInception date: 19-08-1999Fund Size: Rs. 109.44 croresNAV (As on 31-July-2007): Growth option: Rs. 23.3243

Dividend option: Rs. 10.9306



Snapshot: Treasury Plan

Fund Manager : Rahul GoswamiIndicative Investment Horizon: 3-6 monthsInception date: 19-08-1999Fund Size: Rs. 48.92 croresNAV (As on 31-July-2007): Growth option : Rs. 18.5111

Dividend option: Rs. 10.6353



Rs. 10000 invested at inception: Gilt - Investment Vs I-Sec I Bex

CAGR – Gilt - Investment: 11.24%; Benchmark : 11.41%. Past performance may or maynot be sustained in future.

Performance Record* - Growth Option (Investment Plan)

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is I Bex. For computationof returns the allotment NAV has been taken as Rs. 10.00. Past performance may or maynot be sustained in future. 31-Jul-04 was a non business day.


Portfolio - Treasury Plan

Company/Issuer Rating Mkt Value % to NAV(Rs. Lakh)

CPs, CDs and Term Deposits 4,575.81 93.55%Kotak Mahindra Bank Ltd P1+ 1,634.26 33.41%State Bank of Travancore Ltd P1+ 615.28 12.58%State Bank of Mysore Ltd P1+ 482.86 9.87%Industrial Development Bank of India P1+ 477.69 9.77%Canara Bank Ltd P1+ 471.43 9.64%Allahabad Bank Ltd A1+ 470.59 9.62%IDBI Bank Ltd P1+ 423.70 8.66%Cash, Call, CBLO & Reverse Repo 322.53 6.59%Other Current Assets (6.81) -0.14%Total Net Assets 4,891.53 100.00%


Portfolio - Investment Plan


Government Securities 9,163.15 83.73%• 8.33% GOI 2036 Sovereign 4,187.40 38.26%• 7.99% GOI 2017 Sovereign 3,027.00 27.66%• 7.49% GOI 2017 Sovereign 1,854.59 16.95%• 6.65% GOI 2009 Sovereign 94.16 0.86%

CPs, CDs and Term Deposits 318.12 2.91%IDBI Bank Ltd P1+ 183.60 1.68%Allahabad Bank Ltd P1+ 134.52 1.23%Cash, Call, CBLO & Reverse Repo 4.06 0.04%Other Current Assets 1,458.98 13.32%



3.49%

6.37%5.37%

6.14%

8.05%

4.67%

7.96%5.90%

6.29%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last 6Months

Last1 year

Last3 years

Last5 years

SinceInception

Gilt Treasury I Sec Si Bex

4.49%

11.20%

5.96% 7.43%

11.24%

4.60%

11.29%

5.44%

7.80%

11.41%

0.00%

2.00%4.00%

6.00%

8.00%10.00%

12.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Gilt Investment I Sec I-Bex

Rs 13678.59

Rs 13931.38

9,78010,28010,78011,28011,78012,28012,78013,28013,78014,280

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Jul-0

7

Gilt Treasury I Sec Si Bex

Rs 23324.30

Rs 23622.47

9,93111,93113,93115,93117,93119,93121,93123,93125,931

Aug-

99Ja

n-00

Jun-

00N

ov-0

0Ap

r-01

Sep-

01Fe

b-02

Jul-0

2De

c-02

May

-03

Oct

-03

Mar

-04

Aug-

04Ja

n-05

Jun-

05N

ov-0

5Ap

r-06

Sep-

06Fe

b-07

Jul-0

7

Gilt Investment I Sec I-Bex

73.91%

26.23%

-0.14%

-20.00% 0.00% 20.00% 40.00% 60.00% 80.00%

182 days - 1

year

<182 days

Other Current

Assets

44.60%

38.26%

13.33%

0.86%

1.27%

1.68%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00%

5-10 years

> 10 years


182 days - 1 year

<182 days

1-3 years

33

Maturity profile:

Performance Record - Growth option

Quantitative Indicators: Investment PF Plan

Average Maturity : 18.74 yearsModified Duration : 8.34 yearsYield To Maturity : 8.22%%Unlisted : 35.37%

Rs. 10000 invested at inception: Gilt -Investement PF Vs I Sec Li BexRs. 10000 invested at inception: Gilt -Treasury PF Vs I Sec Si Bex

Maturity Profile:

Quantitative Indicators: Treasury PF Plan

Average Maturity : 0.50 YearModified Duration : 0.46 YearYield To Maturity : 9.04%% Unlisted : 0.00%

Performance Record - Growth option

Snapshot: Treasury Plan PF optionFund Manager : Rahul GoswamiIndicative Investment Horizon: 3-6 monthsInception date: 11-Feb-04Fund Size: Rs. 34.37 croresNAV (As on 31-July-2007): Growth option: Rs. 11.7715**Expense Ratio: 1.50%


WHY SHOULD ONE INVEST?Treasury: Short term deployment of funds in portfolio of G-Secs with low volatility

Investment: Medium term investment for steady returns with market volatility

Returns >= 1 Year are CAGR, < Year are Absolute. Benchmark is I-Sec Si Bex Index.For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performancemay or may not be sustained in future. 31-Jul-04 was a non business day.

ICICI Prudential Gilt Fund PF Option

Portfolio - Treasury PF


Government Securities 98.80 2.87%• 6.65% GOI 2009 Sovereign 98.80 2.87%

CPs, CDs and Term Deposits 3,005.32 87.45%Industrial Development Bank of India P1+ 1,047.06 30.47%IDBI Bank Ltd P1+ 675.09 19.64%Canara Bank Ltd P1+ 471.43 13.72%Allahabad Bank Ltd A1+ 470.59 13.69%State Bank of Travancore Ltd P1+ 331.30 9.64%State Bank of Mysore Ltd P1+ 9.85 0.29%Cash, Call, CBLO & Reverse Repo 345.86 10.06%Other Current Assets (13.30) -0.38%Total Net Assets 3,436.68 100.00%


Style Box

Absolute – Gilt Treasury PF option : 4.81%; Benchmark : 5.69%. Past performance may ormay not be sustained in future.

Portfolio - Investment PF


Government Securities 5,738.72 73.87%

• 8.33% GOI 2036 Sovereign 2,991.00 38.50%

• 7.49% GOI 2017 Sovereign 2,747.72 35.37%


IDBI Bank Ltd P1+ 304.12 3.91%




Snapshot: Investment Plan PF optionFund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & aboveInception date: 19-Nov-03Fund Size: Rs. 77.68 croresNAV (As on 31-July-2007): Growth option: Rs. 12.2454**Expense Ratio: 1.10%


Style Box

Absolute – Gilt Investment PF option : 5.63%; Benchmark : 4.03%. Past performancemay or may not be sustained in future.

Returns >= 1 Year are CAGR, < Year are Absolute. Benchmark is I-Sec Li Bex Index.For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performancemay or may not be sustained in future. 31-Jul-04 was a non business day.


3.38%

6.34%

4.81% 4.81%4.67%

7.96%

5.90% 5.69%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last6 Months

Last1 year

Last3 years

SinceInception

Gilt Treasury-PF I Sec Si Bex

4.44%

11.35%

6.77% 5.63%4.39%

13.29%

6.09%

4.03%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%

Last6 Months

Last1 year

Last3 years

SinceInception

Gilt Fund-PF I Sec Li-Bex

Rs 11771.50

Rs 12117.27

9,950

10,450

10,950

11,450

11,950

12,450

Feb-

04Ap

r-04

Jun-

04Au

g-04

Oct

-04

Dec-

04Fe

b-05

Apr-0

5Ju

n-05

Aug-

05O

ct-0

5De

c-05

Feb-

06Ap

r-06

Jun-

06Au

g-06

Oct

-06

Dec-

06Fe

b-07

Apr-0

7Ju

n-07

Gilt Treasury-PF I Sec Si Bex

Rs 12245.40

Rs 11574.26

9,235

9,735

10,235

10,735

11,235

11,735

12,235

12,735

Nov

-03

Jan-

04M

ar-0

4M

ay-0

4Ju

l-04

Sep-

04N

ov-0

4Ja

n-05

Mar

-05

May

-05

Jul-0

5Se

p-05

Nov

-05

Jan-

06M

ar-0

6M

ay-0

6Ju

l-06

Sep-

06N

ov-0

6Ja

n-07

Mar

-07

May

-07

Jul-0

7

Gilt Fund-PF I Sec Li-Bex

56.69%

40.82%

2.87%

-0.39%

-20.00% 0.00% 20.00% 40.00% 60.00%

182 days - 1 year

<182 days

1-3 years


38.50%

35.37%

22.21%

3.91%

0.00% 20.00% 40.00% 60.00%

> 10 years

5-10 years


182 days - 1 year

34

Maturity Profile Quantitative Indicators

Average Maturity : 11.40 Years

Modified Duration : 5.91 Years

Yield to Maturity : 8.51%



Rs. 10000 invested at inception*: Income Plan Vs Crisil Composite Bond Fund Index

Rating Profile

PSU/PFI Bonds 10,361.13 33.61%

• Indian Railway Finance Corporation AAA 2,590.02 8.40%

• Power Finance Corporation Ltd AAA 2,259.42 7.33%



Powergrid Corporation Ltd AAA 1,035.19 3.36%

Indian Oil Corporation Ltd AAA 480.81 1.56%

State Bank of India Ltd AAA 45.45 0.15%


Tata Sons Ltd AAA 2,083.86 6.76%

UTI Bank Ltd AAA 2,060.07 6.68%

HDFC Bank Ltd AAA 18.56 0.06%

HDFC Ltd AAA 9.08 0.03%

Government Securities 15,037.84 48.76%

• 8.33% GOI 2036 Sovereign 6,779.60 21.98%

• 7.99% GOI 2017 Sovereign 5,045.00 16.36%

• 7.49% GOI 2017 Sovereign 3,206.49 10.40%

8.13% GOI 2021 Sovereign 6.75 0.02%


Union Bank of India Ltd P1+ 699.62 2.27%







Snapshot:Fund Manager : Pankaj KajiIndicative Investment Horizon: 1 year & aboveInception date: 09-07-1998Fund Size: Rs. 308.45 croresNAV (As on 31-July-2007):

Retail Growth option : Rs. 22.5338Institutional Growth option : Rs. 23.1786

**Expense Ratio:Income Plan: 2.12%Income Inst. Plan: 1.50%


WHY SHOULD ONE INVEST?Medium term investment for steady returns with market volatility

*Returns < 1 : Absolute, > = 1Year : CAGR. Benchmark - Crisil CompositeBond Fund Index. Start date - 31.03.2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or maynot be sustained in future. 31-Jul-04 was a non business day.

ICICI Prudential Income Plan

*Benchmark start date : 31-03-2002.CAGR – Income Plan: 6.31%; Benchmark : 5.70%Past performance may or may not be sustained in future.

PortfolioCompany/Issuer Rating Mkt Value (Rs. Lakh) % to NAV


Style Box

4.58%

9.27%

5.36%6.20%

9.38%

3.73%

6.45%

4.56%5.45%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

10.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Income Plan Crisil Composite Bond Fund Index

Rs 13858.43

Rs 13441.89

9,79010,29010,79011,29011,79012,29012,79013,29013,79014,290

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Jul-0

7

Income Plan Crisil Composite Bond Fund Index

35.26%

30.20%

22.00%

8.34%

0.69%

1.13%

2.37%

-10.00% 10.00% 30.00% 50.00%

5-10 years

3-5 years

> 10 years

1-3 years

182 days - 1 year


<182 days




Reverse Repos1.82%

35

Maturity profile:



Rating Profile

Portfolio

Snapshot:

Fund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & moreInception date: 28-03-2002Fund Size: Rs. 5.28 croresNAV (As on 31-July-2007):



WHY SHOULD ONE INVEST?Medium term investment for steady returns with market volatility

Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV

ICICI Prudential Long Term Plan


• Power Finance Corporation Ltd AAA 0.98 0.19%



UCO Bank P1+ 19.75 3.74%





Rs. 10000 invested at inception: Long Term Plan Vs Crisil Composite Bond Fund Index

*Benchmark start date : 31-03-2002CAGR – Long Term Plan : 9.12%; Benchmark : 5.61%Past performance may or may not be sustained in future.



*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is Crisil Composite Bond FundIndex. For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future. 31-Jul-04 was a non business day.

Style Box

Notes to Numbers and Data in the Fact Sheet

1. Yield to maturity, modified duration and average maturity are the weighted averageof these numbers, computed for each security in the portfolio, and weighted by themarket value of each security to the total market value of the portfolio.

2. Average maturity for PTCs and papers with partial redemptions, are weightedaverages of tenor and quantity of cash flows until maturity.

3. Price/Earning Ratio, Price/Book Value Ratio, and Dividend Yield are based onthe historical earning numbers, and accounting numbers, and have been sourcedfrom Bloombergâ. They have been computed only for the invested portion ofthe portfolio.

4. Average days to reset for the Floating rate plan, is the weighted average of thenext interest reset date of the floating rate bonds, weighted by their market values.

5. Bank deposits are internally credit rated and posses an internal rating equivalentto AAA. They have been disclosed separately in the credit profile section onlyin the interest of clarity, so that investors do not presume they are independentlycredit rated.

6. Other current assets are not included for the purposes of computing portfolioaggregate numbers such as YTM, Modified Duration and average (except in thecase of Liquid Plan).

7. Where the individual holding in a security/issuer is less than 1% of the NAV, suchholdings have been aggregated, wherever appropriate, in the interest of clarity.

8. Dividends declared in a scheme have been separately disclosed.9. All portfolios are common portfolios held under a given scheme, and all return

numbers unless otherwise stated, represent the Growth Option.10. For computing the % of listed securities, instruments which cannot be listed

under the existing rules and regulations such as CPs, CDs, CBLOs, Bank FDs, TBills, and PTCs are excluded from the unlisted category.

11. The standard deviation is used to measure the volatility of returns.12. Sharpe Ratio is the measure of the risk-adjusted performance. It is calculated by

subtracting the risk-free rate from the average rate of return for a portfolio anddividing the result by the standard deviation of the portfolio returns.

13. Beta is the measure of the portfolio’s volatility to its respective benchmark.14. R-squared is a measurement of how closely a portfolio’s performance correlates

with the performance of benchmark index. A higher R-squared value indicates amore useful beta.

15. The Std. Dev., Sharpe Ratio, Portfolio Beta & R-squared are based on monthlyreturns calculated using last 3 years data.

16. Expense ratios are an average of last 6 months expense ratios. Expense ratiosfor ICICI Prudential Liquid Plan - Super Institutional Option, ICICI PrudentialFloating Rate Plan - Plan D and ICICI Prudential Flexible Income Plan are as ofAugust 01, 2007

4.03%

7.59%9.03% 8.95% 9.27%

3.73%

6.45%

4.56%5.45%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

10.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Long Term Plan Crisil Composite Bond Fund Index

Rs 15916.06

Rs 13373.01

9,857

10,857

11,857

12,857

13,857

14,857

15,857

16,857

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Long Term Plan Crisil Composite Bond Fund Index

88.65%

15.64%

-4.48%

0.19%

-20.00% 0.00% 20.00% 40.00% 60.00% 80.00% 100.00%

182 days - 1 year

<182 days

1-3 years




Reverse Repos7.43%

36

Rating Profile

Maturity Profile:


Average Maturity : 110.29 DaysModified Duration : 97.81 DaysYield To Maturity : 7.24%% Floating Rate Assets : 15.93%Average days to reset : 60.38 DaysAverage maturity of fixed rate component : 59.96 DaysWeighted average maturity : 60.02 Days% Unlisted Bonds : 5.81%

Performance Record *- Growth Option – Institutional Plus Plan

Rs. 10000 invested at inception*: Liquid Plan Inst. Plus Vs Crisil LiquidFund Index

PSU/PFI Bonds 47,274.19 2.69%• Nabard AAA 36,782.53 2.09%

Industrial Development Bank of India AA+ 4,500.00 0.26%Power Finance Corporation Ltd AAA 2,503.45 0.14%Infrastructure Development Finance Corporation AAA 1,991.54 0.11%Export Import Bank of India Ltd AAA 996.67 0.06%CanBank Factors Ltd P1+ 500.00 0.03%Private Corporate Securities 350,233.32 19.88%

• Tata Sons Ltd AAA 37,500.00 2.13%• Reliance Capital Finance Ltd A1+ 35,000.00 1.99%• DSP Merill Lynch Capital Ltd AAA 44,280.00 2.52%• PTC UBL Trust DSP Merrill Lynch Capital Ltd A1+(SO) 19,997.83 1.14%

TGS Investment & Trade Pvt. Ltd. A1+ 17,000.00 0.97%PTC Credit Asset Trust Series HSBC F1+ 15,300.91 0.87%PTC Collateralised Debt Trust UTI Bank P1+SO 10,012.03 0.57%GE Capital Services India Ltd AAA 10,002.28 0.57%Shriram Transport Finance Company Ltd AA 10,000.00 0.57%PTC Light Trust SCB AA+SO 9,988.43 0.57%PTC Auto Sec Trust MixpoolB TMFL AAA(SO) 9,553.83 0.54%Oscar Investments Ltd Unrated 9,300.00 0.53%Hindalco Industries Ltd AAA 9,482.36 0.54%Raymond Ltd P1+ 7,400.00 0.42%PTC VPT Trust SCB AAA 7,026.01 0.40%GE Money Financial Services Ltd AAA 12,202.15 0.69%Ranbaxy Holding Company Ltd Unrated 6,700.00 0.38%PTC Birla Home Finance GECSI AA(SO) 5,000.00 0.28%CitiFinancial Consumer Finance India Ltd P1+ 5,000.00 0.28%Kotak Mahindra Primus Ltd AA+ 5,000.00 0.28%PTC Shriram Transport F1+ 4,972.98 0.28%Emaar Mgf Land Pvt Ltd A1+(SO) 4,000.00 0.23%Cholamandalam Investment & Finance Co. Ltd P1+ 3,800.00 0.22%Reliance Industries Ltd AAA 3,691.90 0.21%Nirma Ltd P1+ 3,000.00 0.17%PTC DAS Trust Standard Chartered Bank A1+(SO) 2,800.10 0.16%JM Financial & Investment Consultancy Services Pvt. Ltd P1+ 2,800.00 0.16%Kotak Mahindra Primus Ltd P1+ 2,503.57 0.14%Sundaram Finance Ltd AAA 2,500.00 0.14%Gujarat Glass Ltd Unrated 2,500.00 0.14%Hero Honda Finlease Ltd P1+ 2,500.00 0.14%Balrampur Chini Mills Ltd A1+ 2,500.00 0.14%First India Credit Corporation Ltd A1+ 2,500.00 0.14%Kotak Securities Ltd P1+ 2,500.00 0.14%Mahindra & Mahindra Financial Services Ltd AA+ 2,500.00 0.14%Berger Paints India Ltd P1+ 2,300.00 0.13%PTC ICL Trust Birla Home Finance P1+SO 2,004.33 0.11%Birla Global Finance Ltd A1+ 2,000.00 0.11%Rabo India Finance Ltd P1+ 2,000.00 0.11%Grasim Industries Ltd AAA 1,883.69 0.11%HDFC Ltd AAA 1,783.92 0.10%Blue Star Ltd P1+ 1,500.00 0.09%LIC Housing Finance Ltd AAA 998.76 0.06%CitiFinancial Consumer Finance India Ltd AAA 998.06 0.06%PTC Kotak Mahindra Bank Ltd. AAA(SO) 951.98 0.05%PTC Citi Fleet Trust Citibank AAA(SO) 707.41 0.04%PTC UBL Trust IndusInd Bank AAA(SO) 675.18 0.04%PTC Hero Motors Ltd A1+(SO) 550.00 0.03%PTC TAS Trust Tata Sons A1+(SO) 429.90 0.02%PTC IL & FS Investmart Ltd AAA(SO) 427.53 0.02%PTC TVS Finance AAA(SO) 208.18 0.01%Treasury Bills 44,742.99 2.54%364 Day T Bill (MD 28/03/2008) Sovereign 17,605.73 1.00%182 Day T Bill (MD 12/12/2007) Sovereign 14,692.17 0.84%364 Day T Bill (MD 14/07/2007) Sovereign 7,464.02 0.42%182 Day T Bill (MD 07/09/2007) Sovereign 4,981.07 0.28%CPs, CDs and Term Deposits 918,924.92 52.23%Punjab National Bank Ltd P1+ 96,000.00 5.46%ICICI Bank Ltd P1+ 88,800.00 5.05%ABN Amro Bank Ltd AAA 81,990.27 4.66%HDFC Bank Ltd P1+ 79,667.25 4.53%ING Vysya Bank Ltd P1+ 62,274.58 3.54%Allahabad Bank Ltd AAA / P1+ 48,072.27 2.73%UTI Bank Ltd P1+ 39,179.16 2.23%Kotak Mahindra Bank Ltd P1+ 36,919.02 2.10%Industrial Development Bank of India P1+ 31,009.17 1.77%UCO Bank P1+ 31,154.31 1.77%State Bank of Bikaner & Jaipur Ltd P1+ 30,000.00 1.71%State Bank of Hyderabad Ltd P1+ 30,000.00 1.71%State Bank of Saurashtra Ltd A1+ 28,838.72 1.64%Union Bank of India Ltd P1+ 27,442.57 1.56%YES Bank F1+ 24,514.71 1.39%State Bank of Indore Ltd P1+ 20,121.87 1.14%Standard Chartered Bank Ltd AAA 18,871.86 1.07%Jammu & Kashmir Bank Ltd A1+ 14,831.49 0.84%GE Money Financial Services Ltd P1+ 12,338.50 0.70%IDBI Bank Ltd P1+ 12,058.70 0.69%Tata Power Company Ltd P1+ 9,956.12 0.57%Indian Bank Ltd A1+ 9,889.31 0.56%State Bank of India Ltd P1+ 9,611.92 0.55%HDFC Ltd P1+ 9,381.00 0.53%UTI Securities Ltd P1+ 9,200.25 0.52%Standard Chartered Investment & Loan (India) LtdP1+ 8,294.14 0.47%State Bank of Patiala Ltd P1+ 6,113.14 0.35%Edelweiss Securities Pvt Ltd P1+ 5,939.14 0.34%CitiFinancial Consumer Finance India Ltd P1+ 4,926.49 0.28%HSBC Ltd F1+ 4,986.48 0.28%Rabo India Finance Ltd P1+ 4,965.02 0.28%DSP Merill Lynch Capital Ltd P1+ 4,629.45 0.26%Canara Bank Ltd P1+ 4,241.73 0.24%TML Financial Services Ltd P1+ 3,282.75 0.19%Citicorp Finance (India) Ltd P1+ 2,408.69 0.14%GE Capital Transportation Financial Services Ltd P1+ 2,340.40 0.13%Redington India Ltd P1+ 1,988.29 0.11%State Bank of Mysore Ltd P1+ 1,478.15 0.08%Bajaj Auto Ltd P1+ 965.50 0.05%National Housing Bank Ltd P1+ 242.50 0.01%Cash, Call, CBLO & Reverse Repo 32,867.49 1.87%Other Current Assets 364,080.51 20.79%Total Net Assets 1,758,123.42 100.00%


Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: Upto 1monthInception date:

Growth Option: 24-06-1998Institutional Option: 03-04-2003Institutional Plus Option: 28-09-2003Super Institutional Option: 17-11-2005

Fund Size: Rs. 17,581.23 croresNAV (As on 31-July-2007):

Growth option : Rs. 18.8424Institutional Growth option : Rs. 19.0580Institutional Plus Growth option : Rs. 19.1258Super Institutional Growth option : Rs. 11.2862Institutional option-I-Growth option: Rs. 11.0517

**Expense Ratio:Growth option : 1.13% Inst. option : 0.93%Inst. Plus option : 0.86% Super Inst. option : 0.40%Inst. - I option : 0.68%

** This is a close approximation of the number.

WHY SHOULD ONE INVEST?Temporary parking of funds with high liquidity

Style Box

ICICI Prudential Liquid Plan

*Benchmark start date : 31-03-2002CAGR – Liquid Plan : 6.03%; Benchmark : 5.34%Past performance may or may not be sustained in future.

PortfolioCompany/Issuer Rating Mkt Value (Rs. Lakh) % to NAV

*Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.


6.02%6.78%

8.32% 7.87%

6.03%

0.94%

6.28%

8.43%7.35%

5.34%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last 15days

Last 30days

Last 6Months

Last 1year

SinceInception

Institutional Plus Plan Crisil Liquid Fund Index

Rs 12520.74

Rs 12211.54

9,950

10,450

10,950

11,450

11,950

12,450

12,950

Sep-

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Institutional Plus Plan Crisil Liquid Fund Index

80.66%

19.34%

0.00% 20.00% 40.00% 60.00% 80.00% 100.00%

<182 days

>182 days

Unrated1.05%



Reverse Repos22.58%

AA and Equivalent

2.10%Sovereign Securities2.54%

37


Quantitative Indicators:Maturity Profile

Performance Record *- Cumulative Option – Plan B

Rs. 10000 invested at inception: Floating Rate Plan B Vs Crisil Liquid Fund Index

Rating Profile

Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: 1 - 3 monthsInception date: 28-03-2003Fund Size: Rs. 986.69 croresNAV (As on 31-July-2007):

Plan A - Cumulative: Rs. 11.9437Plan B - Cumulative: Rs. 12.8299Plan C - Cumulative: Rs. 12.0691Plan D - Cumulative: Rs. 11.2965

**Expense Ratio:Plan A - 1.17%, Plan B - 0.91%, Plan C - 0.81%, Plan D - 0.40%


WHY SHOULD ONE INVEST?Short term deployment of funds

*Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has been takenas Rs.10.00. Past performance may or may not be sustained in future.

ICICI Prudential Floating Rate Plan

CAGR – Floating Rate Plan - Plan B : 5.90%; Benchmark : 5.27%Past performance may or may not be sustained in future.

PSU/PFI Bonds 3,000.00 3.04%

• Industrial Development Bank of India AA+ 3,000.00 3.04%


• Oscar Investments Ltd Unrated 5,000.00 5.07%

• GE Capital Services India Ltd P1+ 3,500.00 3.55%

• Citicorp Finance (India) Ltd AAA 2,500.00 2.53%

• Mahindra & Mahindra Financial Services Ltd AA+ 2,000.00 2.03%

Hindalco Industries Ltd AAA 1,994.85 2.02%

Sundaram Finance Ltd AAA 1,800.00 1.82%

PTC Auto Sec Trust Mixpool Jun07 TMFL AAA(SO) 1,528.45 1.55%

PTC Citi Fleet Trust Citibank AAA(SO) 891.03 0.90%

TGS Investment & Trade Pvt. Ltd. A1+ 500.00 0.51%

PTC Hero Motors Ltd A1+(SO) 450.00 0.46%


HDFC Ltd P1+ 14,448.71 14.64%

ING Vysya Bank Ltd P1+ 10,000.00 10.13%


HDFC Bank Ltd P1+ 9,631.75 9.76%

State Bank of Saurashtra Ltd A1+ 9,612.91 9.74%

UTI Bank Ltd P1+ 3,000.00 3.04%








6.01%7.15%

8.38% 7.86%

5.90%

0.94%

6.28%

8.43%7.35%

5.27%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last 15days

Last 30days

Last 6Months

Last 1year

SinceInception

Floating Rate Plan Crisil Liquid Fund Index

Rs 12829.90

Rs 12498.47

9,950

10,450

10,95011,450

11,95012,450

12,950

13,450

Mar

-03

May

-03

Jul-0

3Se

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Mar

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May

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Jul-0

7

Floating Rate Plan Crisil Liquid Fund Index

94.95%

5.05%

0.00% 20.00% 40.00% 60.00% 80.00% 100.00%

<182 days

>182 days

Unrated5.07%

AA and Equivalent

5.07%


Reverse Repos17.60%


38

Maturity Profile Quantitative Indicators:

Average Maturity : 0.92 Year

Modified Duration : 0.81 Year

Yield To Maturity : 9.03%

% Floating Rate Assets : 14.23%

Average days to reset : 0.89 Year

Average maturity of fixed rate component : 0.88 Year

Weighted average maturity : 0.88 Year

% Unlisted : 7.00%

Rs. 10000 invested at inception*: STP Vs Crisil Short Term Bond Fund Index

Rating Profile


Nabard AAA 608.60 1.36%



• PTC Auto Sec Trust Mixpool Jun07 TMFL AAA(SO) 6,113.79 13.69%

• PTC ICL Trust TMFL Yes Bank AA+SO 3,283.51 7.35%

• PTC GE Capital Services India Ltd A1+(SO) 3,136.37 7.02%

• Ranbaxy Holding Company Ltd Unrated 2,500.00 5.60%

• PTC ICL Trust TMFL Yes Bank P1+SO 2,018.97 4.52%

PTC Electrosteel Castings Ltd GTL Trust A1+(SO) 1,605.14 3.59%


TML Financial Services Ltd P1+ 1,023.58 2.29%

PTC ICL Trust Birla Home Finance P1+SO 1,002.16 2.24%

PTC Shriram Transport F1+ 942.25 2.11%

Tata Sons Ltd AAA 750.19 1.68%

Kotak Mahindra Primus Ltd AA 711.37 1.59%

L&T Finance Ltd A1+(SO) 710.17 1.59%


Grasim Industries Ltd AAA 495.18 1.11%

PTC UBL Trust IndusInd Bank AAA(SO) 240.94 0.54%

HDFC Ltd AAA 198.48 0.44%

PTC IBL Trust IndusInd Bank AAA(SO) 163.89 0.37%

PTC Citi Fleet Trust Citibank AAA(SO) 159.43 0.36%

Cholamandalam Investment & Finance Co. Ltd AA 101.60 0.23%

Government Securities 311.78 0.70%

7.99% GOI 2017 Sovereign 311.78 0.70%



Punjab National Bank Ltd P1+ 3,500.00 7.84%

UTI Bank Ltd P1+ 3,000.00 6.72%






WHY SHOULD ONE INVEST?Short term deployment of funds with low volatilityICICI Prudential Short Term Plan

*Benchmark start date : 31-03-2002CAGR – Short Term Plan: 6.80%; Benchmark : 5.69%Past performance may or may not be sustained in future.


Performance Record* - Cumulative Option

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil ShortTerm Bond Fund Index. Start date: 31-03-2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or maynot be sustained in future. 31-Jul-04 was a non business day.


Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: 3 - 6 monthsInception Cumulative Option: 25-10-2001date Institutional Option : 03-04-2003Fund Size: Rs. 446.67 croresNAV (As on 31-July-2007):

Cumulative Option : Rs. 14.7691Institutional Option : Rs. 14.9315

**Expense Ratio:Short Term Plan : 1.10%Inst. Plan : 0.80%


}

4.90%

8.62%6.92% 6.64% 7.00%

4.58%

7.38%

5.50% 5.39%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

10.00%

Last 6Months

Last 1year

Last 3years

Last 5years

SinceInception

Short Term Plan Crisil Short Term Bond Fund Index

Rs 14203.11

Rs 13434.87

9,95010,45010,95011,45011,95012,45012,95013,45013,95014,450

Apr-0

2Ju

l-02

Oct

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Jan-

03Ap

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Jan-

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Jul-0

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Short Term Plan Crisil Short Term Bond Fund Index

41.24%

34.80%

22.83%

0.70%

0.43%

0.00% 20.00% 40.00% 60.00%

1-3 years

<182 days

182 days - 1 year

5-10 years


Unrated5.60%


AA and Equivalent10.29%


Reverse Repos7.53%


39

Rs. 10000 invested at inception: Long Term Floating Rate Plan-B Vs Crisil Liquid Fund Index

CAGR – Long Term Floating Rate Plan: 6.47%; Benchmark : 5.81%Past performance may or may not be sustained in future.

Rating Profile

Maturity Profile


Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: 6-12 monthsInception date: 15-Sep-04Fund Size: Rs. 113.20 croresNAV (As on 31-July-2007):

Plan A - Cumulative: Rs. 11.8315Plan B - Cumulative: Rs. 11.9742

**Expense Ratio:Plan A - 1.25%Plan B - 0.85%


*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has beentaken as Rs. 10.00. Past performance may or may not be sustained in future.

ICICI Prudential Long Term Floating Rate Plan

Average Maturity : 0.27 YearModified Duration : 0.25 YearYield To Maturity : 6.61%% Floating Rate Assets : 36.30%Average days to reset : 0.16 YearAverage maturity of fixed rate component : 0.14 YearWeighted average maturity : 0.15 Year% Unlisted Bonds : 7.07%



• Industrial Development Bank of India AA+ 549.45 4.85%



• Ranbaxy Holding Company Ltd Unrated 800.00 7.07%

• PTC Shriram Transport F1+ 523.47 4.62%

• ICICI Bank Ltd AAA 500.73 4.42%

• PTC UBL Trust IndusInd Bank AAA(SO) 240.94 2.13%


UTI Bank Ltd P1+ 4,481.33 39.59%

Allahabad Bank Ltd P1+ 960.85 8.49%

Punjab National Bank Ltd P1+ 500.00 4.42%

Industrial Development Bank of India P1+ 482.52 4.26%






WHY SHOULD ONE INVEST?Generate market rate of returns with low volatility


4.07%

7.78%

6.47%

4.18%

7.35%

5.81%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%


Long Term Floating Rate Plan Crisil Liquid Fund Index

Rs 11974.20

Rs 11763.69

9,950

10,450

10,950

11,450

11,950

12,450

Sep-

04

Nov

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Jan-

05M

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May

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Jul-0

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Sep-

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Jul-0

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Long Term Floating Rate Plan Crisil Liquid Fund Index

90.22%

9.49%

0.29%

0.00% 20.00% 40.00% 60.00% 80.00% 100.00%

<182 days

1-3 years

Other CurrentAssets

Unrated7.07%

AA and Equivalent

4.85%


Reverse Repos20.14%


40

91.72%

8.28%

0.00% 40.00% 80.00% 120.00%

<182 days

182 days - 1 year

Rating Profile

Maturity Profile:



Performance* Record - Cash Option - Growth


Industrial Development Bank of India P1+ 965.04 13.66%

Allahabad Bank Ltd P1+ 960.85 13.61%

UCO Bank P1+ 916.83 12.98%

UTI Bank Ltd P1+ 500.00 7.08%

Punjab National Bank Ltd P1+ 500.00 7.08%

ABN Amro Bank Ltd A1+ 467.07 6.61%



Other Current Assets (1,017.51) -14.41%

Total Net Assets 7,062.21 100.00%• Top Five Holdings

Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: One day to one weekInception date:

Growth Option: 06-03-2002Growth Cash Option: 09-03-2006

Fund Size: Rs. 70.62 croresNAV (As on 31-July-2007):

Growth option : Rs. 13.0537Cash Option Growth: Rs. 11.0599

**Expense Ratio:Growth option: 1.00%Cash Option Growth: 0.66%


WHY SHOULD ONE INVEST?Temporary parking of funds with high liquidity

Style Box

ICICI Prudential Sweep PlanPortfolio

Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV

*Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.


4.08%5.36%

8.04% 7.76% 7.49%

0.94%

6.28%

8.43%7.35% 7.11%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last 15days

Last 30days

Last 6Months

Last 1year

SinceInception

Sweep Crisil Liquid Fund Index


Reverse Repos37.31%


41

ICICI Prudential Income Plan - Quarterly Dividend Option

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit

31-Mar-06 10.00 10.8980 0.100030-Jun-06 10.00 10.8817 0.100029-Sep-06 10.00 11.1210 0.150029-Dec-06 10.00 11.1905 0.150030-Mar-07 10.00 10.9618 0.050028-June-07 10.00 11.0144 0.1500

ICICI Prudential Short Term Plan - Monthly Dividend Option (Feb. 2007 onwards)

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit28-Feb-07 10.00 10.8037 0.060030-Mar-07 10.00 10.8263 0.080027-Apr-07 10.00 10.8298 0.080031-May-07 10.00 10.8500 0.090028-June-07 10.00 10.8393 0.080026-July-07 10.00 10.8951 0.1000Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively.Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes ifapplicable.

ICICI Prudential Short Term Plan - Fortnightly Dividend Option (Feb. 2007 onwards)

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit15-Feb-07 10.0000 10.8005 0.030028-Feb-07 10.0000 10.7808 0.030015-Mar-07 10.0000 10.7954 0.030030-Mar-07 10.0000 10.8034 0.037516-Apr-07 10.0000 10.8154 0.037527-Apr-07 10.0000 10.8120 0.037515-May-07 10.0000 10.8306 0.050031-May-07 10.0000 10.8247 0.040014-June-07 10.0000 10.8247 0.040028June-07 10.0000 10.8241 0.040012-July-07 10.0000 10.8608 0.050026-July-07 10.0000 10.8704 0.0600

ICICI Prudential Liquid Plan - Weekly Dividend Option (Feb. 2007 onwards)Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit05-Feb-07 10.00 11.8472 0.016612-Feb-07 10.00 11.8470 0.016419-Feb-07 10.00 11.8474 0.016826-Feb-07 10.00 11.8474 0.016805-Mar-07 10.00 11.8473 0.016712-Mar-07 10.00 11.8478 0.017220-Mar-07 10.00 11.8525 0.021926-Mar-07 10.00 11.8495 0.01893-Apr-07 10.00 11.8599 0.02939-Apr-07 10.00 11.8499 0.019316-Apr-07 10.00 11.8507 0.020123-Apr-07 10.00 11.8521 0.02151-May-07 10.00 11.8517 0.02427-May-07 10.00 11.8480 0.017414-May-07 10.00 11.8489 0.018321-May-07 10.00 11.8497 0.019128-May-07 10.00 11.8497 0.01914-June-07 10.00 11.8446 0.014011-June-07 10.00 11.8429 0.012318-June-07 10.00 11.8445 0.013925-June-07 10.00 11.8472 0.016602-July-07 10.00 11.8510 0.020409-July-07 10.00 11.8464 0.015816-July-07 10.00 11.8453 0.014723-July-07 10.00 11.8455 0.014930-July-07 10.00 11.8441 0.0135

Dividend is gross dividend. To arrive at the net dividend payable for corporate andnon-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively. Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable.

WHY SHOULD ONE INVEST?Customised investment solutions to match risk return profile.ICICI Prudential Advisor Series


Fund Manager : Pankaj Kaji

Performance Records *

Scheme Name Date Period NAV NAV Returns(Rs) as of Fund Benchmark

31-July-07 Index

Very Cautious 31-Jan-07 Last 6 Months 11.793 12.2635 3.99% 4.30%Very Cautious 31-Jul-06 Last 1 years 11.3919 12.2635 7.65% 7.36%Very Cautious 30-Jul-04 Last 3 years 10.2708 12.2635 6.08% 5.66%Very Cautious 18-Dec-03 Since Inception 10 12.2635 5.80% 5.29%Cautious 31-Jan-07 Last 6 Months 13.6103 14.5078 6.59% 6.35%Cautious 31-Jul-06 Last 1 years 12.4106 14.5078 16.90% 18.05%Cautious 30-Jul-04 Last 3 years 10.2084 14.5078 12.42% 13.71%Cautious 18-Dec-03 Since Inception 10 14.5078 10.83% 10.71%Moderate 31-Jan-07 Last 6 Months 17.5584 19.1365 8.99% 8.66%Moderate 31-Jul-06 Last 1 years 14.9834 19.1365 27.72% 30.09%Moderate 30-Jul-04 Last 3 years 9.9467 19.1365 24.35% 24.67%Moderate 18-Dec-03 Since Inception 10 19.1365 19.64% 18.92%Aggressive 31-Jan-07 Last 6 Months 21.4687 23.6244 10.04% 10.07%Aggressive 31-Jul-06 Last 1 years 17.3638 23.6244 36.06% 38.58%Aggressive 30-Jul-04 Last 3 years 9.5426 23.6244 35.24% 33.71%Aggressive 18-Dec-03 Since Inception 10 23.6244 26.81% 25.26%Very Aggressive 31-Jan-07 Last 6 Months 25.7924 28.5947 10.86% 10.70%Very Aggressive 31-Jul-06 Last 1 years 19.9317 28.5947 43.46% 42.55%Very Aggressive 30-Jul-04 Last 3 years 9.5008 28.5947 44.33% 38.54%Very Aggressive 18-Dec-03 Since Inception 10 28.5947 33.68% 28.67%Very Cautious:- Crisil Liquid fund Index - 70%, Crisil Short Term Bond Fund-30%Cautious:- Nifty-15%, Crisil Composite Bond Fund Index - 70%, Crisil Liquid

Fund Index-15%Moderate:- Nifty-40%, Crisil Composite Bond Fund Index - 40%, Crisil Liquid

Fund Index-20%Aggressive:- Nifty-70%, Crisil Composite Bond Fund Index - 25%, Crisil Liquid

Fund Index-5%Very Aggressive:- Nifty-90%, Crisil Liquid Fund Index- 10%*Returns < 1Year : Absolute, > = 1Year : CAGR. Past Performance may or may not besustained in the future.Note: For computation of returns the allotment NAV has been taken as Rs.10.0031-Jul-04 was a non business day.

Portfolio - Very Cautious Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 886.95 57.85%ICICI Prudential Liquid Plan 595.87 38.86%Other Current Assets 50.42 3.29%Total Net Assets 1,533.24 100.00%

Portfolio - Very Aggressive Plan

Company/Issuer Mkt. Value(Rs. Lakh) % to NAVICICI Prudential Power Plan 343.10 39.88%ICICI Prudential Growth Plan 261.87 30.44%ICICI Prudential Dynamic Plan 85.91 9.99%ICICI Prudential Emerging S.T.A.R. 84.03 9.77%ICICI Prudential Services Industries Fund 41.96 4.88%ICICI Prudential Flexible Income Plan 41.29 4.80%Other Current Assets 2.23 0.24%Total Net Assets 860.39 100.00%

Portfolio - Aggressive Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 204.61 24.31%ICICI Prudential Growth Plan 172.63 20.51%ICICI Prudential Power Plan 169.69 20.16%ICICI Prudential Dynamic Plan 127.56 15.16%ICICI Prudential Emerging S.T.A.R. 83.16 9.88%ICICI Prudential Services Industries Fund 83.00 9.86%Other Current Assets 0.95 0.12%Total Net Assets 841.60 100.00%

Portfolio - Moderate Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 419.70 39.50%ICICI Prudential Growth Plan 165.89 15.61%ICICI Prudential Power Plan 163.08 15.35%ICICI Prudential Emerging S.T.A.R. 106.57 10.03%ICICI Prudential Services Industries Fund 106.36 10.01%ICICI Prudential Dynamic Plan 54.49 5.13%ICICI Prudential Liquid Plan 52.43 4.93%Other Current Assets (5.92) -0.56%Total Net Assets 1,062.60 100.00%

Portfolio - Cautious Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 296.62 58.87%ICICI Prudential Liquid Plan 62.07 12.32%ICICI Prudential Growth Plan 39.07 7.75%ICICI Prudential Dynamic Plan 38.50 7.64%ICICI Prudential Services Industries Fund 37.57 7.46%ICICI Prudential Emerging S.T.A.R. 25.10 4.98%Other Current Assets 4.89 0.98%Total Net Assets 503.82 100.00%

Fund Size Rs. 48.02 Crores

Dividend History

ICICI Prudential Income Plan - Half yearly Dividend Option

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit

29-Sep-05 10.00 10.5154 0.220031-Mar-06 10.00 10.3702 0.120029-Sep-06 10.00 10.6548 0.250030-Mar-07 10.00 10.5371 0.2500Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively. Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes ifapplicable.

42

ICICI Prudential Monthly Income Plan** - Quarterly Dividend Option (Feb.2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit

28-Feb-07 10.0000 11.8645 0.250031-May-07 10.0000 11.8857 0.2500

ICICI Prudential Long Term Floating Rate Plan - Dividend A Monthly Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-Jan-07 10.00 10.1624 0.052028-Feb-07 10.00 10.1580 0.052030-Mar-07 10.00 10.1697 0.063027-Apr-07 10.00 10.1702 0.063031-May-07 10.00 10.1945 0.070028-June-07 10.00 10.1752 0.070026-July-07 10.00 10.1697 0.0650

ICICI Prudential Long Term Floating Rate Plan - Dividend B Monthly Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-Jan-07 10.00 10.1850 0.054028-Feb-07 10.00 10.1818 0.054030-Mar-07 10.00 10.1949 0.066527-Apr-07 10.00 10.1953 0.066531-May-07 10.00 10.2201 0.073528-June-07 10.00 10.2006 0.073526-July-07 10.00 10.1949 0.0685

ICICI Prudential Gilt Fund - Treasury Plan - Quarterly Dividend Option (May 2007 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-May-07 10.0000 10.6186 0.1500

ICICI Prudential Gilt Fund - Treasury Plan - Half Yearly Dividend Option (May 2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-May-07 10.0000 10.3050 0.2000Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporateinvestors dividend distribution tax @ 22.44% and 14.025% needs to be adjusted respectively.Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of payout.

ICICI Prudential Sweep Plan - Cash - Monthly Option

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit26-July-07 10.00 10.0441 0.0441Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Gilt Fund - Investment Plan - Half Yearly Dividend Option (Nov 2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Nov-06 10.0000 11.0558 0.400031-May-07 10.0000 10.7314 0.1000

ICICI Prudential Monthly Income Plan** - Monthly Dividend Option (Mar. 2007 onwards)


30-Mar-07 10.0000 11.4461 0.060027-Apr-07 10.0000 11.5230 0.080031-May-07 10.0000 11.5527 0.070028-June-07 10.0000 11.5658 0.070026-July-07 10.0000 11.7353 0.0900

ICICI Prudential Blended Plan A - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit26-Oct-05 10.00 10.2945 0.25001-June-06 10.00 10.5643 0.250020-Apr-07 10.00 11.0246 0.5000

Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Long Term Floating Rate Plan - Dividend C Monthly Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit28-Apr-06 10.00 10.0743 0.0440

ICICI Prudential Sweep Plan - Cash Option - Weekly Dividend

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit02-July-07 10.00 10.0178 0.017809-July-07 10.00 10.0118 0.011816-July-07 10.00 10.0103 0.010323-July-07 10.00 10.0078 0.007830-July-07 10.00 10.0077 0.0077

Dividend History

ICICI Prudential FMP Series 34 - 17 Mths Plan-Retail Dividend

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Mar-07 10.00 10.0540 0.0540

ICICI Prudential FMP Series 34 - 17 Mths Plan-Institutional Dividend

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Mar-07 10.00 10.0646 0.0646

ICICI Prudential FMP Series 34 - 1 Year Plan A-Retail DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit28-June-07 10.00 10.2279 0.2279

ICICI Prudential FMP Series 34 - 16 Mths Plan-Retail DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Mar-07 10.00 10.0625 0.0625

ICICI Prudential Hybrid FMP 13 Mths Plan - Institutional Quarterly Dividend

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit28-June-07 10.00 10.2249 0.2249

ICICI Prudential Hybrid FMP 13 Mths Plan - Retail Quarterly Dividend


ICICI Prudential Blended Plan B - Dividend Option


26-Oct-05 10.00 10.2600 0.230001-Jun-06 10.00 10.4485 0.4000Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential FMP Series 34 - 1 Year Plan B-Retail DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit28-June-07 10.00 10.2892 0.1815

ICICI Prudential FMP Series 34 - 1 Year Plan B-Institutional Dividend


ICICI Prudential FMP Series 36 - 18 Mths Plan A - Retail Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-July-07 10.00 10.2276 0.0618Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively. Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes ifapplicable.

ICICI Prudential FMP Series 37 - 3 Mths Plus Plan A - Retail Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit12-July-07 10.00 10.3449 0.3449

ICICI Prudential Hybrid FMP 13 Mths Plan - Retail Annual Dividend


ICICI Prudential FMP Series 34 - 1 Year Plan A-Institutional Dividend


ICICI Prudential FMP Series 38 - 3 Mths Plan A - Retail Dividend Option


ICICI Prudential FMP Series 36 - 18 Mths Plan B - Retail Dividend Option


ICICI Prudential Monthly Interval Plan I - Retail Dividend Option


ICICI Prudential Monthly Interval Plan II - Retail Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit25-July-07 10.00 10.1446 0.0729Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively. Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes ifapplicable.

ICICI Prudential FMP Series 30 - 13 Mths Plan - Retail Dividend Option


43

Dividend History

ICICI Prudential Monthly Income Plan** - Half Yearly Dividend Option (Aug. 2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-Aug-06 10.0000 11.8638 0.450028-Feb-07 10.0000 11.8944 0.5000

Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporateinvestors dividend distribution tax @ 22.44% and 14.025% needs to be adjusted respectively.Past performance may or may not be sustained in future. After payment of dividend the NAV willfall to the extent of payout and distribution taxes if applicable. **An open-ended fund. Monthlyincome is not assured and is subject to the availability of distributable surplus.

ICICI Prudential Flexible Income Plan - Weekly Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit03-July-07 10.00 10.5618 0.022409-July-07 10.00 10.5505 0.011116-July-07 10.00 10.5556 0.016223-July-07 10.00 10.5540 0.014630-July-07 10.00 10.5525 0.0131Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Floating Rate Plan - Plan C - Fortnightly Dividend Option (Feb. 2007 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit14-Feb-07 10.00 10.0348 0.032627-Feb-07 10.00 10.0278 0.025515-Mar-07 10.00 10.0358 0.033529-Mar-07 10.00 10.0438 0.041516-Apr-07 10.00 10.0581 0.055826-Apr-07 10.00 10.0295 0.027215-May-07 10.00 10.0500 0.047730-May-07 10.00 10.0380 0.035714-June-07 10.00 10.0283 0.025228-June-07 10.00 10.0280 0.024112-July-07 10.00 10.0379 0.033226-July-07 10.00 10.0283 0.0221

ICICI Prudential Long Term Plan - Weekly Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit04-July-07 10.00 10.4876 0.015010-July-07 10.00 10.4728 0.014017-July-07 10.00 10.4607 0.010024-July-07 10.00 10.4700 0.015031-July-07 10.00 10.4740 0.0150Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Balanced Fund - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Oct-03 10.00 12.93 2.0024-Mar-05 10.00 15.36 3.5026-Dec-05 10.00 15.76 1.2029-Sep-06 10.00 17.66 1.2016-Mar-07 10.00 16.93 1.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Floating Rate Plan - Plan D - Fortnightly Dividend Option (June 2007 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit14-June-07 10.00 10.0287 0.025828-June-07 10.00 10.0275 0.023812-July-07 10.00 10.0382 0.033726-July-07 10.00 10.0266 0.0221Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporateinvestors dividend distribution tax @ 22.44% and 14.025% needs to be adjusted respectively. Pastperformance may or may not be sustained in future. After payment of dividend the NAV willfall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Income Multiplier Fund - Dividend Option (May 2007 onwards)Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-May-07 10.00 11.9275 0.0828-June-07 10.00 11.9597 0.0826-July-07 10.00 12.1445 0.12Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Infrastructure fund - DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit20-Mar-06 10.00 14.37 1.0015-Sep-06 10.00 14.68 1.0016-Mar-07 10.00 14.46 1.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Floating Rate Plan - Plan B - Fortnightly Dividend Option (Feb. 2007 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit14-Feb-07 10.00 10.0713 0.032327-Feb-07 10.00 10.0644 0.025315-Mar-07 10.00 10.0721 0.033029-Mar-07 10.00 10.0804 0.041316-Apr-07 10.00 10.0948 0.055726-Apr-07 10.00 10.0663 0.027215-May-07 10.00 10.0864 0.047330-May-07 10.00 10.0745 0.035414-June-07 10.00 10.0649 0.025028-June-07 10.00 10.0645 0.023812-July-07 10.00 10.0744 0.032926-July-07 10.00 10.0649 0.0219

ICICI Prudential Floating Rate Plan - Plan A - Fortnightly Dividend Option (Feb. 2007 onwards)


14-Feb-07 10.00 10.0335 0.031027-Feb-07 10.00 10.0269 0.024315-Mar-07 10.00 10.0345 0.031929-Mar-07 10.00 10.0427 0.040116-Apr-07 10.00 10.0566 0.054026-Apr-07 10.00 10.0288 0.026215-May-07 10.00 10.0485 0.045930-May-07 10.00 10.0369 0.034314-June-07 10.00 10.0268 0.023428-June-07 10.00 10.0266 0.022412-July-07 10.00 10.0368 0.031826-July-07 10.00 10.0279 0.0214

ICICI Prudential Emerging S.T.A.R. Fund - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit19-Jul-05 10.00 15.21 1.0018-May-06 10.00 23.93 3.0012-Jan-07 10.00 24.23 2.5020-July-07 10.00 24.54 2.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Dynamic Fund - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit21-Sep-05 10.00 16.5757 2.0027-Apr-06 10.00 21.6998 2.0009-Feb-07 10.00 23.3124 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential FMCG Fund - Dividend Option


16-Mar-00 10.00 11.45 1.0023-Mar-06 10.00 34.47 3.0012-Jan-07 10.00 35.25 1.8020-July-07 10.00 34.88 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Tax Plan - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit16-Mar-00 10.00 22.06 6.0024-Jul-03 10.00 12.38 1.2025-Mar-04 10.00 16.09 4.5028-Dec-04 10.00 20.61 2.5023-Aug-05 10.00 26.98 2.5020-Mar-06 10.00 31.51 5.0010-Nov-06 10.00 29.77 2.5009-Feb-07 10.00 27.15 5.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Power - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit24-Jul-03 10.00 14.07 2.0023-Oct-03 10.00 18.62 3.0024-Dec-03 10.00 16.22 3.0025-Mar-04 10.00 12.68 1.5024-Mar-05 10.00 14.72 2.5026-Dec-05 10.00 17.77 2.008-Aug-06 10.00 19.33 2.0016-Mar-07 10.00 20.16 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Growth Plan - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit

01-Mar-01 10.00 12.54 1.2015-Mar-02 10.00 10.83 0.8024-Jul-03 10.00 11.09 0.8006-Nov-03 10.00 14.76 2.5025-Mar-04 10.00 13.15 2.0017-Mar-05 10.00 14.68 1.0023-Mar-06 10.00 23.03 2.0015-Dec-06 10.00 25.03 2.5015-June-07 10.00 23.70 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Discovery Fund - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit05-Apr-05 10.00 13.71 1.0011-Oct-05 10.00 17.99 1.5023-Mar-06 10.00 20.30 2.0024-Nov-06 10.00 20.68 2.0015-June-07 10.00 19.05 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Services Industries Fund - DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit11-May-07 10.00 15.99 1.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

44

Key Features

Type

Investment Pattern(Under normalcircumstances)

Options

Default Option

Application Amount ###

Min. Addl. Investment ###

Entry Load*

Exit Load*$$$

Redemption ChequesIssued ##

Min. Redemption Amt.

Cut off time:Purchase/Switch inRedemption/Switch out $

Systematic InvestmentPlan (SIP)

Systematic WithdrawalPlan (SWP)

Systematic Transfer Plan(STP) $$

Recurring Expenses**Investment Mangmt. Exp.Other recurring expensesTotal

Funds at a glanceLiquid Plan

Open-ended Liquid Income Fund

Money Market upto 80% & DebtInstruments upto 20%

1. Growth Option2. Dividend Option

a) Dividend PayoutQuarterly & Half Yearly

b) Div. Reinvestmenti) Daily, Weekly & Monthlyii) Quarterly & Half Yearly

Dividend Reinvestment withweekly frequency.

a) Growth option : Rs.15,000b) Institutional option: Rs. 1 crc) Institutional Plus option: Rs. 3 crsd) Super Institutional Growth

option: Rs. 5 crs(plus in multiples of Re.1)

a) Growth option : Rs.5,000b) Institutional option: Rs. 1 lacc) Institutional Plus option: Rs. 1 lacd) Super Institutional Growth

option: Rs. 1 lac(plus in multiples of Re.1)

Nil

Nil

Generally within 1 Business Dayfor specified RBI locations andadditional 3 Business Days forNon-RBI locations. Same DayRedemption Facility (refer toKey Information Memorandum)

Rs. 5,000

12.00 noon3.00 p.m.

N.A.

N.A.

Available

0.70%0.30%1.00%

Income Plan

Open-ended Debt Fund

Debt Securities upto 75% & MoneyMarket & Cash upto 25%

1. Growth2. Growth-AEP (Appreciation &

Regular)3. Dividend^ (Quarterly & Half

Yearly)

Dividend Reinvestment withHalf Yearly frequency.

Rs. 5,000 (plus in multiples of Re. 1)Rs.25,000 for AEP

Rs. 500 & in multiples thereof

Nil

For investment of less than or uptoRs.10 lacs : 0.5% if investment heldfor less than or equal to a period of6 months For investment of aboveRs.10 lacs: Nil

Generally within 1 Business Day forspecified RBI locations andadditional 3 Business Days for Non-RBI locations

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 + 5post-dated cheques for a minimumof Rs. 1,000 each.

*****

Minimum of Rs. 500 and in multiplesof Re. 1/-

Available

1.25%0.75%

2.00%

Short Term Plan

Open-ended Income Fund

Debt Securities upto 100% & MoneyMarket & Cash upto 50%

1. Cumulative2. Dividend Reinvestment

(Fortnightly & Monthly)

Dividend Reinvestment withFortnightly frequency.

Rs.5,000 (plus in multiples of Re. 1)Rs.25,000 for Institutional option(plus in multiples of Re.1)


Nil

Nil


Rs. 500

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

1.25%1.00%

2.25%

Floating Rate Plan


65-100% = Floating Rate DebtInstruments. 0-35% = Fixed ratedebt instruments.

1. Cumulative2. Div. Reinvestment

(Fortnightly & Dailyfrequencies)

Option: Plan ASub option: Cumulative

a) Plan-A: Rs 10,000/-b) Plan-B: Rs.10 lacsc) Plan-C: Rs.3 croresd) Plan-D: Rs.5 crores(plus in multiples of Re.1)

Plans A & B: Rs.1000 plus in multiplesof Re.1Plan C: The minimum additionalinvestment amount can be anyamount provided the minimumbalance in the investors account atthe time of additional subscriptionincluding the amount proposed to beinvested, is not below Rs. 5Crore****.Plan D: Rs.1 lac.¥

Plan-A, B, C & D: Nil

Plan-A, B, C & D: For allinvestments made on or after April24, 2007, an exit load of 0.25% ofthe applicable NAV if theredumption/switch-out is madewithin 10 days from the date ofinvestment.

Generally Within 1 business dayfor Specified RBI locations andadditional 3 Business Days forNon-RBI locations.

Rs. 500/- and multiples thereof

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

Plan A Plan B Plan C

1.00% 0.75% 0.65%

Long Term FloatingRate Plan


65-100% = Floating Rate DebtInstruments. 0-35% = Fixed ratedebt instruments

1. Cumulative2. Div. Reinvestment

(Quarterly)

Option: Plan ASub option: CumulativeDividend: Automatic

Reinvestment

a) Plan-A: Rs 25,000/-b) Plan-B: Rs.1 crorec) Plan-C: Rs.5 crores(plus in multiples of Re.1)

Plans A & B: Rs.1000 (plus inmultiples of Re1)Plan C: The minimum additionalinvestment amount can be anyamount provided the minimumbalance in the investors account atthe time of additional subscriptionincluding the amount proposed to beinvested, is not below Rs. 5Crore****.

Plan-A, B & C : Nil

Plan-A: 0.50% for investments ofless than or equal to Rs. 1 Croreand redemption is made on orbefore the completion of sixmonths from the date of allotmentof units.Plan B & Plan C: Nil

Generally Within 1 business day forSpecified RBI locations andadditional 3 Business Days for Non-RBI locations.

Rs. 5,000/- and in multiples thereof;provided that minimum balanceunder a particular folio should notfall below the minumumapplication amount. This will notbe applicable for closing theaccount.

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

Plan A Plan B Plan C0.75% 0.60% 0.50%0.50% 0.30% 0.25%

1.25% 0.90% 0.75%

* The Trustees reserves the right to change/modify the load structure at a later date for the Schemes. ** Investors are requested to read the section on “Fees and Annual Recurringexpenses” in the Offer Documents of the respective schemes. The recurring expenses indicated above may change subject to ceilings under the Regulations. *** Entry load of 2.25% ofthe applicable NAV will be charged on the SIP/STP investment under this Scheme. Exit Load on the SIP/STP Invesment under this Scheme is Nil. *****For SIP/STP investment under this

45

Key Features

Type


Options

Default Option



Entry Load*

Exit Load*$$$






Systematic Transfer Plan(STP) $$


Funds at a glance

Scheme: Entry Load – Nil, Exit Load – Nil.Exceptions: With effect from June 4, 2007, all new applications through the SIP & STP facility under Discovery Fund, Dynamic Plan, Emerging STAR Fund, Growth Plan, Power, ServicesIndustries Fund and Infrastructure Fund, an exit load at the rate of 0.25% of the applicable NAV will be charged if the redemption/switch-out from the Schemes is made within 6 monthsfrom the date of allotment of units.With effect from June 18, 2007: For all investments below Rs. 5 crores made under Power and Services Industries Fund (excluding investments made through SIP and STP facility),from June 18, 2007, an exit load at the rate of 0.50% of the applicable NAV will be charged if redemption/switch-out of the investment is made within 6 months from the date of allotmentof units.^ Under the Dividend Option, the Unit-holder may choose between Dividend Payout and Reinvestment Option. If not chosen, Default Option would be Dividend Payout. $ For all web-basedtransactions under the schemes of ICICI Prudential Mutual Fund, entered through the website of the fund viz. www.icicipruamc.com there would be a cooling off period of 30 minutesbefore the respective cut-off times of the relevant schemes. ### In case of all purchase transactions including additional purchase requests under all schemes except ICICI Prudential LiquidPlan, the AMC reserves the right to reject/reverse the transaction, if an amount of Rs. 1 Lakh and above is received by way of MICR cheques at the centers where high value clearing isavailable. In case of ICICI Prudential Index Fund, all the transaction for Fresh/Additional purchases for a consideration of Rs.One lakh and above will be accepted only through High ValueCheques/Demand Drafts received before the cut-off time of 10.00 a.m. for clearing of High Value Instruments or through Transfer Cheques received before 1.00 p.m. Æ For dividend of Rs.500or less the Dividend will be Automatic Compulsory Reinvestment (irrespective of the option selected by the Unitholder) & for Dividend of more than Rs.500 will either be paid out or reinvestedas opted by the Unitholders, If not selected the default option would be dividend reinvestment. Investors on or after July 24, 2006 will only have dividend reinvestment option. Dividend Payoutfacility will be available only where the amount of dividend is exceeding Rs. 1 Lakh and dividend frequency is weekly. Default option is dividend reinvestment facility. ## As per the Regulations,the Fund shall dispatch redemption proceeds within 10 Business days of receiving the redemption request. Investors are advised to refer to the sections titled “Suspension of sale andredemption of units” and “Right to limit Redemption”. The default option for payment of redemption/dividend proceeds would be Direct Credit into their bank account (in case the investorhas provided his bank mandate as one of the banks participating in direct credit arrangement and if he fails to specify the mode of payment). **** Minimum additional application amountshall be applicable for investments by an investor by itself or for investments along with any of its group companies. Later on even if the net asset value under the folio falls below Rs. 5crores, the investment can continue under the Option C. ¥ The minimum additional application amount shall be applicable for investments by an investor by itself or for investments alongwith any of its group companies. Later on even if the net asset value under the folio below Rs. 5 cores, the investment can continue under the ICICI Prudential Floating Rate Plan-Plan D.

Flexible Income Plan


10 to 100% - Money market andDebentures with residual maturityof less than 1 year. 0 to 90% -Debt instruments with maturitymore than 1 year

1. Cumulative2. Dividend Reinvestment/

Dividend PayoutÆ (Daily &Weekly Frequencies)

Dividend Reinvestment withdaily frequency.

Rs.5,000 (plus in multiples of Re. 1)


Nil

Investments made: (a) before July24, 06 - Nil (b) on or after July 24,2006 - 0.50% of the applicable NAV,if the redemption is made within onemonth from the date of investment.Investment made on or after March28, 2007 - 0.25% of the applicableNAV, if the redemption/switch-outis made within 10 days from the dateof investment.


Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 + 5post-dated cheques for a minimumof Rs. 1,000 each

*****

Minimum of Rs. 500 and multiplesof Re. 1/-

Available

1.00%0.50%

1.50%

Gilt - Treasury

Open-ended short-term Gilt Fund

Gilt Securities (incl. Treasury Bills).Average Maturity normally not toexceed 3 years.

1. Growth2. Growth-AEP3. Dividend (Quarterly & Half

Yearly)

Dividend Reinvestment withQuarterly frequency.


Rs. 5,000 & in multiples thereof

Nil

Nil


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

0.75%0.35%

1.10%

Gilt - Investment

Open-ended medium-term Gilt Fund


1. Growth2. Growth-AEP3. DividendÆ (Half Yearly)

Dividend Reinvestment withHalf Yearly frequency.



Nil

Nil


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

0.75%0.40%

1.15%

Gilt - TreasuryPF Option

Open-ended Gilt Fund


1. Growth2. Growth-AEP (Monthly,

Quarterly, Half Yearly & Yearly)

Cumulative option



Nil

0.80% of applicable NAV in case theamount sought to be redeemed is notbeing invested under the Plan for aminimum period of 365 days. ExitLoad is NIL if the amount is investedfor more than 365 days.


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Not Available

2.25%

Gilt - InvestmentPF Option

Open-ended Gilt Fund


1. Growth2. Growth-AEP (Monthly,

Quarterly, Half Yearly & Yearly)

Cumulative option



Nil

0.60% of applicable NAV in case theamount sought to be redeemed is notbeing invested under the Plan for aminimum period of 365 days.


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Not Available

1.10%

46

Key Features

Type

Investment Pattern(Under normal circumstances)

Options

Default OptionApplication Amount ###


Entry Load*

Exit Load*$$$

Redemption Cheques Issued ##



Systematic Investment Plan(SIP)

Systematic Withdrawal Plan (SWP)Systematic Transfer Plan (STP)Recurring Expenses**Investment Mangmt. Exp.Other recurring expensesTotal

Long Term Plan


Debt Instruments - 0% to 100% & MoneyMarket instruments - 0% to 10%

1. Cumulative2. Dividend (Weekly)

Dividend ReinvestmentRs. 5,000 (plus in multiples of Re.1)

Rs. 500/- & in multilples thereof

Nil

Nil

Generally within 1 Business Day forspecified RBI locations and additional 3Business Days for Non-RBI locations.Rs. 500/- provided that minimum balanceunder a particular folio should not fall be-low Rs. 5,000

3.00 p.m.3.00 p.m.Monthly: Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1,000 each.

*****Minimum of Rs. 500 and in multiples of Re. 1/-Not Available

2.00%

Income Multiplier Fund –Regular Plan

An open-ended debt fund which investsupto 30% in equity.

Equity & Equity Related Securities0-30%, Debt instruments 65-100%, Cash &money market instruments 0-5%.

1. Cumulative2. Dividend (Monthly)

Dividend ReinvestmentRs.5,000 (plus in multiples of Re.1)

Rs.500 & in multiples thereof

Nil

(i) 1% - For investments of less than Rs. 5crores and if the investments are held forless than a period of 12 months; (ii) No ExitLoad for investments of Rs. 5 crores andabove.

Generally within 1 Business Day forspecified RBI locations and additional 3Business Days for Non-RBI locationsRs.500

3.00 p.m.3.00 p.m.Monthly: Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1,000 each.

*****Minimum of Rs.500 and multiples of Re. 1/-Available $$

1.00%1.25%

2.25%

Monthly Income Plan

An open-ended fund. Monthly income isnot assured and is subject to the availabilityof distributable surplus.Debt securities, money market instru-ments, securitised debt & Cash upto 85%,Equity & Equity related securities upto 15%

1. Cumulative2. AEP (Appreciation & Regular)3. Dividend (Monthly, Quarterly & Half

Yearly)Dividend Reinvestment (Monthly)a) Cumulative : Rs.5,000b) Dividend & AEP : Rs. 25,000(plus multiples of Re 1)Rs.500 & in multiples thereof under eachoptionNil

For investment of less than or upto Rs.10lakhs: 0.5% if investment held for less thanor equal to a period of 6 months Forinvestment of above Rs.10 lakhs: Nil

Generally within 1 Business Day forspecified RBI locations and additional 3Business Days for Non-RBI locationsRs.500

3.00 p.m.3.00 p.m.Dividend & AEP Option – Monthly andCumulative (without AEP) Option –Monthly: Min. Rs. 1,000 + 5 post-dtd.cheques for a minimum of Rs. 1,000 each.

*****Minimum of Rs.500 and multiples of Re. 1/-Available $$

1.25%1.00%

2.25%

Child Care Plan - Study

Open-ended fund (Study Plan)

Equity and Equity related securities 0-15%,Debt Securities, Money MarketInstruments, Securitised Debt and Cash85-100%Cumulative Option

Cumulative OptionRs. 5,000/-, additional in multiples of Re.1

Rs. 1,000/- & in multiples thereof

1.50%

1.00% if investment is redeemed within 3years.Nil if investment is redeemed after 3years but before the Beneficiary Childattains the age of 18.

Normally Within 3 business days

Rs. 1,000

3.00 p.m.3.00 p.m.Monthy : Minimum Rs 1000 + 5 post datedcheques for a min of Rs. 1,000/- each.Entry Load: 1.50% of applicable NAVExit Load: 1.00% of applicale NAV ifinvestment is redeemed within 3 years fromthe date of allotment, Nil thereafter.Minimum of Rs.500 and multiples of Re. 1/-Available (from Study Plan to Gift Plan)

1.25%1.00%

2.25%

Funds at a glance

Key FeaturesType


OptionsDefault Option

Application Amount ###Min. Addl. Investment ###Max. Amount Investment per applicationEntry Load*

Exit Load*$$$


Min. Redemption Amt.Cut off time:

Purchase/Switch inRedemption/Switch out $

Systematic Investment Plan (SIP)

Systematic Withdrawal Plan (SWP)Systematic Transfer Plan (STP) $$


Child Care Plan - GiftOpen-ended fund (Gift Plan)

Equity & Equity related securities65% to 80%, Debt Securities, MoneyMarket Instruments, Securitised Debt &Cash - 20% to 35%.

Cumulative OptionCumulative Option

Rs. 5,000/-, additional in multiples of Re.1Rs.1,000/-Not Available1.50%

1.00% if investment is redeemed within 3years.Nil if investment is redeemed after 3years but before the Beneficiary Childattains the age of 18.

Normally Within 3 business days

Rs.1,000

3.00 p.m.3.00 p.m.Monthy : Minimum Rs 1000 + 5 post datedcheques for a min of Rs. 1,000/- each.Entry Load: 1.50% of applicable NAVExit Load: 1.00% of applicale NAV ifinvestment is redeemed within 3 years fromthe date of allotment, Nil thereafter.Minimum of Rs.500 and multiples of Re. 1/-

Not available

1.25%1.25%

2.50%

Balanced FundOpen-ended Balanced Fund

Equity and Equity related instruments –65% to 80% & Debt, Money Market andCash – 20% to 35%.

Growth & DividendDividend Reinvestment

Rs. 5,000 (plus in multiples of Re. 1)Rs. 500 & in multiples thereofNot Available(i) For investment of less than Rs.5Crores: 2.25% of applicable NAV;(ii) For investment of Rs.5 Crores &above: NILNil

Generally within 3 Business Days forspecified RBI locations and an additionalof 3 Business Days for Non RBI locationsRs. 500

3.00 p.m.3.00 p.m.Monthly: Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1000 each

***

Minimum of Rs.500 and multiples of Re. 1/-

Available

1.25%1.25%

2.50%

Blended Plan - A @@Open ended fund investing in a blend ofequity, derivatives, debt and money marketinstruments.Equity and Equity Related securities – 65%-80%; Derivative including Index Futures,Stock Futures, Index Options and StockOptions etc. – 0%-80%; Money Market,Debt instruments, securitised debt –20%-35%.Growth & DividendOption - GrowthSub-option - ReinvestmentRs. 5,000 (plus in multiples of Re. 1)Rs. 1,000 & in multiples of Re.1/-Rs. 10 Crores per applicationNil

0.50%, if the investment is redeemedwithin a period of 30 days from the date ofallotment. Nil, if the investment is redeemedafter 30 days from the date of allotment.

Generally within 3 Business Days forspecified RBI locations and an additionalof 3 Business Days for Non RBI locationsRs. 500 and in multiples of Re.1/-

3.00 p.m.3.00 p.m.Not available

Not available

Not available

1.25%1.25%

2.50%

Blended Plan - B @@Open ended fund investing in a blend ofequity, derivatives, debt and money marketinstruments.Equity and Equity Related securities – 0%-49%; Derivative including Index Futures,Stock Futures, Index Options and StockOptions etc. – 0%-49%; Money Market,Debt instruments, securitised debt– 51%-100%.Growth & DividendOption - GrowthSub-option - ReinvestmentRs. 5,000 (plus in multiples of Re. 1)Rs. 1,000 & in multiples of Re.1/-Not AvailableNil

0.50%, if the investment is redeemed withina period of 30 days from the date ofallotment. Nil, if the investment is redeemedafter 30 days from the date of allotment.

Generally within 1 Business Day forspecified RBI locations and an additional of3 Business Days for Non RBI locationsRs. 500 and in multiples of Re.1/-

3.00 p.m.3.00 p.m.Not available

Not available

Not available

1.00%1.25%

2.25%

$$$ Where as a result of a redemption / switch arising out of excess holding by an investor beyond 25% of the net assets of the scheme in the manner envisaged under specified SEBIcirculars, such redemption / switch will not be subject to exit load. $$ The minimum amount that can be transferred from one scheme to another is Rs. 1000/- for a minimum of 6installments. The unitholder can avail the STP facility for a maximum period of 10 years.@@ Default option for ICICI Prudential Blended Plan is Plan B.Exit Load for fresh and additional purchases (including SIPs and STPs) made in the schemes given hereinbelow during September 15, 2006 to October 16, 2006, the following willbe applicable: • ICICI Prudential Power, ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI Prudential Balanced Fund – (i) 0.50% of the applicable NAV if the investment

47

Funds at a glanceKey Features

Type


Options

Default Option



Entry Load*

Exit Load* $$$



Cut off time:Purchase/Switch inRedemption/Switchout $

Systematic Invest-ment Plan (SIP)

Systematic With-drawal Plan (SWP)

Systematic TransferPlan (STP) $$


FMCG Fund

Open-ended FMCG Sectoral Fund

Equity and Equity relatedinstruments in FMCGCompanies upto 90% in &Debt, Money Market and Cashupto 10%

Growth & Dividend

Dividend Reinvestment

Rs. 5,000 (plus in multiples ofRe.1)


(i) For investment of lessthan Rs.5 Crores : 2.25% ofapplicable NAV;(ii) For investment of Rs.5Crores & above: NIL

Nil

Generally within 3 BusinessDays for specified RBIlocations and an additional of3 Business Days for Non RBIlocations

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000+ 5 post-dated cheques for aminimum of Rs. 1000 each

***

Minimum of Rs.500 andmultiples of Re. 1/-

Available

1.25%1.25%

2.50%

Technology Fund

Open-ended Equity Fund

Equity and Equity relatedinstruments 90 to 95% &Debt, Money Market andCash 5 to 10%

Growth & Dividend





Nil

Generally within 3 BusinessDays for specified RBIlocations and an additionalof 3 Business Days for NonRBI locations

Rs. 500

3.00 p.m.3.00 p.m.


***


Available

1.25%1.25%

2.50%

Dynamic Plan


Equity and Equity relatedinstruments 0 to 100% &Debt, Money Market andCash 0 to 100%

Cumulative & Dividend




(i) For investment of lessthan Rs.5 Crores: 2.25% ofapplicable NAV;(ii) For investment of Rs.5Crores & above: NIL

Nil


Rs. 500 and in multiplesthereof

3.00 p.m.3.00 p.m.


***


Available

1.00%1.50%

2.50%

Power

Open-ended Growth Fund

Equity and Equity relatedsecurities including nonconvertible portion ofconvertible debentures -Upto 95% and at least 5% inDebt and Money Marketsecurities.

Cumulative & Dividend





Nil


Rs. 500 and in multiplesthereof

3.00 p.m.3.00 p.m.


***


Available

1.25%1.25%

2.50%

Growth Plan


Equity and Equity relatedinstruments upto 95% & Debt,Money Market and Cash upto5%

Growth & Dividend





Nil

Generally within 3 BusinessDays for specified RBIlocations and an additional of3 Business Days for Non RBIlocations

Rs. 500

3.00 p.m.3.00 p.m.


***


Available

1.25%1.25%

2.50%

Tax Plan

Open-ended EquityLinked Saving Scheme

Equity and Equity relatedinstruments upto 90% & Debt,Money Market and Cash upto10%

Growth & Dividend


Rs. 500 (plus in multiples ofRe. 1)



Nil

Generally within 3 BusinessDays for specified RBIlocations and an additional of3 Business Days for Non RBIlocations after lock-in periodof 3 yrs.

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum of Rs. 500or multiples thereof & 5 post-dated cheques for a minimum ofRs. 500 for a block of 5 months inadvance.

***

Not available

Available

1.25%1.25%

2.50%

is made for an amount of less than Rs. 5 crores and is invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investment of Rs. 5 crores andabove. • ICICI Prudential Income Multiplier Plan – (i) 1.25% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of lessthan twelve months from the date of allotment. (ii) Nil for investment of Rs. 5 crores and above. • ICICI Prudential Monthly Income Plan – (i) 0.75% of the applicable NAV if the investmentis made for an amount of less than or equal to Rs. 10 Lakhs and is invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investment of aboveRs. 10 Lakhs. • ICICI Prudential Child Care Plan Gift and Study Option – 1.25% of the applicable NAV if invested for a period of three years or less than three years from the date ofallotment.

48

Key Features

Type


Options

Default Option



Entry Load*

Exit Load* $$$






Systematic TransferPlan (STP) $$


SPIcE

An open-ended,exchange listed, indexlinked growth scheme

Securities comprisingthe SENSEX upto 100%& Upto 10% in Moneymarket instruments,convertible bonds &other securitiesincluding cash

–

–

One Unit (One unit =SENSEX/100)


Nil

NIL (In case there areno quotes on the BSE/DSE for five tradingdays consecutively, aninvestor can selldirectly to the fund atan exit load of 2.5% ofNAV)

Within 3 buisness days


3.00 p.m. during StockExchange WorkingHours

Not Available

Not Available

Not Available

1.00%

Index Fund

Open-ended Index LinkedGrowth Scheme

Equity stocks drawn from thecomponents of the S&P CNXNifty and the exchangetraded derivatives on the S&PCNX Nifty – upto 100%.Money Market instruments– upto 10%

Cumualtive

–

Rs.5,000 (plus multiples of Rs1000)

Rs.1000/-

1.00% of applicable NAV

Nil

Within 3 Business Days

Rs.1000

3.00 p.m.3.00 p.m.

Monthly/Quarterly: Mini-mum Rs.1,000/- + 5 post-datedcheques of Rs. 1,000/- each.Entry Load: Nil; Exit Load:0.5% of the applicable NAV,if the investment is redeemedwithin 1 year from the dateof allotment, Nil thereafter.


Available

0.70%0.55%

1.25%

Discovery Fund


Equity and Equity relatedsecurities - 80% to 100%and Cash & Money Mar-ket instruments - 0% to20%

Growth & Dividend

DividendReinvestment

Rs. 5,000 (plus inmultiples of Re.1)

Rs. 500 & in multiplesthereof

(1) For investment ofless than Rs. 5 Crores:Entry load at 2.25% ofapplicable Net Asset Value(NAV);(2) For investment ofRs.5 Crores and above:Entry load is Nil.

Nil

Within 3 Business Daysfor specified RBI loca-tions and an additional of3 Business Days for Non-RBI locations.

Rs.500

3.00 p.m.3.00 p.m.

Monthly: MinimumRs.1,000 + 5 post-datedcheques of Rs. 1,000each

***


Available

1.25%1.25%

2.50%

Emerging S.T.A.R. (StocksTargeted At Returns)

Fund


Equity and Equity Linked Instruments -90% to 100% and Debt Securities, Cash& Money Market instruments - 0% to10%

Growth & Dividend


Rs. 5,000 (plus in multiples of Re.1)


(1) For investment of less than Rs. 5Crores: Entry load at 2.25% of applicableNet Asset Value (NAV);(2) For investment of Rs.5 Crores andabove: Entry load is Nil.

The exit load structure for fresh andadditional purchases for amounts lessthan Rs. 5 crores (including switch-insfrom open ended debt schemes) madeby unitholders during the period May 1,2006 to May 31, 2006 will be – (i) 0.5%of the applicable NAV, if the amountsought to be redeemed or switched outis invested for a period of six months orless than six months from the date ofallotment; (ii) Nil, if the amount soughtto be redeemed or switched out isinvested for a period of more than sixmonths from the date of allotment. Thisload structure will be applicable onlyfor the purchases (including switch-insfrom open ended debt schemes) madeduring the period May 1, 2006 to May31, 2006. For all other purchases madeeither before May 1, 2006 or after May31, 2006 no exit load will be charged onthe redemptions or switch-outs made.

Within 3 Business Days from the dateof acceptance of Redemption requestat any of the Customer ServiceCentres.

Rs.500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 + 5 post-dated cheques of Rs. 1,000 each

***

Minimum of Rs.500 and multiples ofRe. 1/-

Available

2.50%

Infrastructure Fund


Equity and Equity relatedinstruments in Infrastructuresector 70% to 100% & debt,money market instrument -0% to 30%

Growth & Dividend




(i) For all purchases of lessthan Rs. 5 Crore perTransaction: 2.25% ofapplicable NAV;(ii) For purchases of Rs.5Crore & above perTransaction : NIL

1) For investment madebefore 28-Nov-05:A) 1% of applicable NAV

if i) Amount originallyinvested per transactionis less than Rs.5 croresand Redemption madebefore completion of 6months from the date ofallotment of units.

B) Nil – if i) Originalinvestment is 5 crores ormore per transaction.Or ii) RedemptionRequest made on/after 6months from date ofallotment irrespective oforiginal investment.

2) Nil for investments madeon or after 28-Nov-05.

Generally within 3 Business Daysfor specified RBI locations andan additional of 3 Business Daysfor Non-RBI locations

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 +5 post-dated cheques for aminimum of Rs. 1000 each

***

Minimum of Rs.500 and multiplesof Re. 1/-

Available

1.25%1.25%2.50%

Services IndustriesFund


Equity and equity relatedinstruments in services sector70% to 100% & debt, moneymarket instruments - 0% to 30%

Growth & Dividend payout& Dividend Reinvestment


Rs. 5000 per application and inmultiples of Re.1 thereafter

Rs. 500 per application and inmultiples of Re.1 thereafter

(i) For all purchases of lessthan Rs. 5 crore pertransaction:2.25% ofapplicable NAV;(ii) For all purchases of morethan Rs. 5 crore & above pertransaction:NIL

For investment made duringNew Fund Offer (NFO) Period:(i) 1% of applicable NAV ifamount originally invested pertransaction is less than Rs. 5crores and redemption madebefore completion of 6 monthsfrom the date of allotment.(ii) Nil if (a) Original investmentis 5 crores or more pertransaction and the redemptionrequest is made within 6 monthsor beyond; or (b) RedemptionRequest is made on/after 6months from the date ofallotment irrespective of anyamount invested.For investment made afterNFO Period: Nil

Generally within 3 business daysfor specified RBI locations andan additional 3 Business days forNon-RBI locations

Rs 500 and in multiples thereof

3.00 p.m.3.00 p.m.

Monthly:Minimum Rs. 1000 + 5Installment for a minimum of Rs.1000 each and in multiples of Re.1 thereafter

***

Available

Available

1.25%1.25%

2.50%

Funds at a glance

The exit load structure will also be applicable for switch-ins to any of the above schemes from the following open-ended debt schemes alone: (a) ICICI Prudential Liquid Plan (b) ICICIPrudential Floating Rate Plan (c) ICICI Prudential Sweep Plan - Cash Option. There will be no change in the exit load structure for all purchases, SIPs, STPs, Switch-ins madeeither before September 15, 2006 or after October 16, 2006.

49

Funds at a glanceKey Features

Type


Options

Default Option

Sub-Options

Default Sub-Options

Min. Application Amount ###


Entry Load*

Exit Load* $$$





Systematic Withdrawal Plan (SWP)

Systematic Transfer Plan (STP) $$


Equity & Derivatives FundIncome Optimiser Plan


65% to 80% in Equity and Equity Derivatives (equity unhedgedexposure limited to 5%), 20% to 35% in Debt instruments.

Retail Option and Institutional Option

Retail Option

Growth and Dividend with dividend payout and dividendreinvestment facilities.


Retail Option: Rs.5,000 (plus in multiples of Re.1)Institutional Option: Rs.5 crores (plus in multiples of Re.1)

Rs.1,000/- (plus in multiples of Re.1/-)

Nil

i) 0.5% of the applicable NAV, if the investment is redeemedwithin a period of 6 months from the date of allotment.

ii) Nil – if the investment is redeemed after 6 months fromthe date of allotment.

Within 10 Business Days from the date of acceptance of atransaction request.

Rs. 500/-

3.00 p.m.3.00 p.m.

Retail Option (Monthly): Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1000 each.Entry load for SIP & STP investments: NilExit load for SIP & STP investments:i) 0.5% of the applicable NAV, if the investment is redeemed

within a period of 6 months from the date of allotment.ii) Nil – if the investment is redeemed after 6 months from

the date of allotment.

Retail Option: Rs.500 and in multiples of Re. 1/- providedminimum balance should not fall below Rs.5000/-.

Available

1.25%1.25%2.50%

Equity & Derivatives FundWealth Optimiser Plan


65% to 100% in Equity and Equity Derivatives (equityunhedged exposure limited to 80%), 0% to 35% in Debtinstruments.

Regular Option

–

Growth and Dividend with dividend payout and dividendreinvestment facilities.


Regular Option: Rs.5,000 (plus in multiples of Re.1)

Rs.1,000/- (plus in multiples of Re.1/-)

i) 2.25% of the applicable NAV, if the investment amountis less than Rs.5 crores

ii) Nil – for investment of Rs.5 crores and above.

i) 0.50% of the applicable NAV if redemption/switchouts ismade within 6 months from the date of investment.

ii) Nil for investment of Rs.5 crores and above and redeemedany time.

Within 10 Business Days from the date of acceptance of atransaction request.

Rs 500/-

3.00 p.m.3.00 p.m.

Regular Option (Monthly): Minimum Rs. 1000 + 5 post datedcheques for a minimum of Rs. 1000 each.Entry load for SIP & STP investments:i) 2.25% of the applicable NAV, if the investment amount is

less than Rs.5 crores.ii) Nil – if the iinvestment amount is Rs.5 crores or moreExit load for SIP & STP investments : Nil

Regular Option: Rs.500 and in multiples of Re. 1/- providedminimum balance should not fall below Rs.5000/-.

Available

1.25%1.25%2.50%

Statutory Details: ICICI Prudential Mutual Fund (erstwhile Prudential ICICI Mutual Fund) (the Fund) was set up as a Trust sponsored by Prudential plc (through its wholly owned subsidiary namely Prudential Corporation HoldingsLtd) and ICICI Bank Ltd. ICICI Prudential Trust Limited (erstwhile Prudential ICICI Trust Limited ) (Trust company) is the Trustee to the Fund and ICICI Prudential Asset Management Company Ltd. (erstwhile Prudential ICICI AssetManagement Company Limited) (AMC) is the Investment Manager to the Fund. ICICI Bank Ltd (ICICI Bank) and Prudential Plc (acting through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) are thepromoters of the AMC and the Trust Company. ICICI Bank currently holds 51% stake in both the companies and the balance 49% stake in both the companies is held by Prudential plc (acting through its wholly owned subsidiarynamely Prudential Holdings Corporation Ltd). Prudential Plc (acting through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) transferred 6% of its shareholding in both the companies to ICICI Bank w.e.f26th August 2005.Subsequently in accordance with the approval granted by the Board of Directors and the shareholders of the AMC and the Trust Company the name of the AMC has been changed to ICICI Prudential AssetManagement Company Limited and the name of the Trust Company has been changed to ICICI Prudential Trust Limited. SEBI has vide its letter no IMD/PM/84968/07 dated January 23, 2007 conveyed its no objection to the saidchange of names of the AMC & the Trust company. The said change of names has also been approved by the Registrar of Companies, NCT of Delhi & Haryana, Ministry of Company Affairs, Govt of India. The Board of Directorsof the Trust company have at their meeting held on 20th February 2007 accorded approval for the change of name of the Mutual Fund to ICICI Prudential Mutual Fund as well as of the various schemes /plans/options there under.SEBI has vide its Letter Nos IMD/PM/90168/07 & IMD/PM/90170/07 dated 2nd April 2007 accorded approval for the same. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assuranceor guarantee that the objectives of the Schemes will be achieved. As with any securities investment, the NAV of the Units issued under the Schemes can go up or down, depending on the factors and forces affecting the capitalmarkets. Past performance of the Sponsors, AMC/Fund does not indicate the future performance of the Schemes of the Fund. The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes beyondthe contribution of an amount of Rs.22.2 lacs, collectively made by them towards setting up the Fund and such other accretions and additions to the corpus set up by the Sponsors. • ICICI Prudential Growth Plan^ (An open-ended equity fund. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: Nil; ICICI Prudential Income Plan (An open-ended Debt Fund. Objective is to generate income through investments indebt securities), Entry Load: Nil, Exit Load: For investment of less than or upto Rs. 10 Lakhs : 0.50% of applicable Net Asset Value (NAV) if the investment held for less than or equal to a period of 6 months; For investment of aboveRs. 10 Lakhs: Nil; ICICI Prudential Liquid Plan (An open-ended Liquid Income Fund. Objective is to generate reasonable returns while providing high levels of liquidity), Entry Load: Nil, Exit Load: Nil; ICICI Prudential FMCGFund^ (An open-ended FMCG Sectoral Fund. Objective is to generate long term capital appreciation through investments primarily in FMCG sector), Entry Load: **, Exit Load: Nil; ICICI Prudential Tax Plan^ (An open-endedEquity Linked Saving Scheme. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: Nil; ICICI Prudential Gilt Fund - Treasury Plan (An open-ended short-term Gilt Fund. Objective is to generateregular returns through investments made in gilts), Entry Load: Nil, Exit Load: Nil; ICICI Prudential Gilt Fund - Investment Plan (An open-ended medium-term Gilt Fund. Objective is to generate regular returns throughinvestments made in gilts), Entry Load: Nil, Exit Load: Nil; ICICI Prudential Balanced Fund^ (An open-ended Balanced Fund. Objective is to generate long term capital appreciation and current income), Entry Load: **, ExitLoad: Nil; ICICI Prudential Technology Fund^ (An open-ended Equity Fund. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: Nil; ICICI Prudential Monthly Income Plan (An open endedfund. Monthly income is not assured and is subject to the availability of distributable surplus) (Objective is to generate regular income through investments in fixed income securities), Entry Load: Nil, Exit Load: Forinvestment of less than or upto Rs. 10 Lakhs : 0.50% of applicable Net Asset Value (NAV) if the investment held for less than or equal to a period of 6 months; For investment of above Rs. 10 Lakhs : Nil; ICICI Prudential FixedMaturity Plan – Series 30 - 13 Months Plan (A close-ended Debt Fund. Objective is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the timeprofile of the Scheme), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Hybrid Fixed Maturity Plan -13 months Plan (A close-ended Income Fund. The primary objective of the Scheme is to seek to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with thetime profile of the Plan. The secondary objective of the Scheme is to generate long-term capital appreciation by investing a portion of the Scheme's assets in equity and equity related instruments), Entry Load: Nil, Exit Load: Nil- for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan – Series 34 - One Year Plan A, One Year Plan B, FifteenMonths Plan, Sixteen Months Plan, Seventeen Months Plan & Eighteen Months Plan (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolioof fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan.), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during

Statutory Details & Risk Factors

Contd...

repurchase facility period; ICICI Prudential Fixed Maturity Plan - Series 35 – Thirteen Months Plan A & Thirteen Months Plan B, One Year Plan (A close-ended Debt Fund. Objective of the Plan under the Schemeis seeking to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions madeon Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 37 – Fourteen Months Plan, One Year Plan - A (A close-ended Debt Fund.Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan. Entry Load:Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 37 – Three Months Plan A & ThreeMonths Plan B (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in linewith the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan- Series 37 – Three Months Plus Plan A (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instrumentsnormally maturing in line with the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period); ICICI PrudentialFixed Maturity Plan - Series 34 – Six Months Plan (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debtinstruments normally maturing in line with the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period);ICICI Prudential Fixed Maturity Plan - Series 38 –Three Months Plan A, Three Months Plan B & Three Months Plan C – (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generateregular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicableNAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan - Series 38 –One Year Plan A – (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generateregular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicableNAV for redemptions made during repurchase facility period; ICICI Prudential Child Care Plan (Study Plan: An open-ended fund. Objective is to generate income by creating a portfolio that is invested in debt, money marketinstruments and equity and equity related securities. Gift Plan: An open-ended Fund. Objective is to generate capital appreciation by creating a portfolio that is invested in equity and equity related securities and debt and moneymarket instruments), Entry Load for both the plans are 1.50%. The Exit Load for both the Plans are 1%, if investment is redeemed within 3 years. (2) Nil, if investment is redeemed after 3 years but before the Unitholder attainsthe age of 18; ICICI Prudential Power^ (An open-ended Growth Fund. Objective is to generate long term capital appreciation through investments in core sectors & associated feeder industries), Entry Load: **, Exit Load:Nil; ICICI Prudential Short Term Plan (An open-ended Income Fund. Objective is to generate Income through investments in debt securities) Entry Load: Nil, Exit Load: Nil; ICICI Prudential Long Term Plan (An open-endedIncome Fund. Objective is to generate income through investment in range of debt and money market instruments while maintaining optimum balance of yield, safety and liquidity), Entry Load: Nil, Exit Load: Nil; ICICI PrudentialSweep Plan (An open-ended Liquid Fund. Objective is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made primarily in money market and debt securities),Entry Load: Nil, Exit Load: Nil; ICICI Prudential Index Fund (An open-ended index linked Growth Scheme. Objective is track the returns of S&P CNX Nifty Index through investment in stocks drawn from constituents of Nifty),Entry Load: 1% of the Applicable NAV, Exit Load: NI; ICICI Prudential Flexible Income Plan (An open-ended Income Fund. Objective is to generate income through investments in a range of debt instruments and money marketinstruments of various maturities with a view to maximising income while maintaining the optimum balance of yield, safety and liquidity) Entry Load: Nil, Exit Load: Investments made: (a) before July 24, 06 - Nil (b) on or afterJuly 24, 2006 - 0.50% of the applicable NAV, if the redemption is made within one month from the date of investment. Investment made on or after March 28, 2007 - 0.25% of the applicable NAV, if the redemption/switch-out is made within 10 days from the date of investment; ICICI Prudential Dynamic Plan^ (An open-ended Equity Fund. Objective is to generate capital appreciation by actively investing in equity and equity related securitiesand for defensive consideration in debt / money market instruments), Entry Load: **, Exit Load: Nil; SENSEX Prudential ICICI Exchange Traded Fund (“SPIcE”) (An open-ended exchange listed, index linked growth scheme.Objective is to provide the investment returns that closely corresponds to the total return of securities as represented by the SENSEX). Entry Load: Nil, Exit Load: 2.5% of applicable NAV in case of no quotes on the BSE for fivetrading days consecutively and an investor redeeming directly from the Fund; ICICI Prudential Floating Rate Plan – Option A, B, C & D (An open-ended income fund. Objective is to generate income consistent with the prudentrisk from a portfolio comprising substantially of floating rate debt instruments, fixed rate debt instruments swapped for floating rate return, and also fixed rate instruments and money market instruments) Entry Load : Nil, ExitLoad: For all investments made on or after April 24, 2007, an exit load of 0.25% of the applicable NAV if the redumption/switch-out is made within 10 days from the date of investment. ICICI Prudential Advisor Series(An open-ended asset allocation fund, which is of the nature of Fund of Funds, comprising there under five investment Plans, with a primary objective to generate returns through investment in underlying schemes of ICICI PrudentialMutual Fund) Entry Load: For ICICI Prudential Very Cautious Plan and ICICI Prudential Cautious Plan is Nil and for ICICI Prudential Moderate Plan, ICICI Prudential Aggressive Plan and ICICI Prudential Very Aggressive Plan, theEntry Load is 1%, 1.50% and 1.75% respectively, Exit Load: Nil, Further, for investments by the Fund of Funds scheme, in underlying schemes of ICICI Prudential Mutual Fund, there would not be any entry load / exit load. ICICIPrudential Gilt Fund Investment Plan - PF Option (An open-ended Medium Term Gilt Fund. Objective is to generate income through investments in Gilts of various maturities) Entry Load: Nil, Exit load : 0.60% of a NAVin case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 days, ICICI Prudential Gilt Fund Treasury - PF Option (An open-ended Gilt Fund. Objective is to generate incomethrough investments in Gilts of various maturities) Entry Load: Nil, Exit load: 0.80% of a NAV in case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 day; ICICI PrudentialIncome Multiplier Fund (An open-ended debt fund which invests upto 30% in equity. Objective is to generate long-term capital appreciation from a portfolio that is invested predominantly in debt and money market securitiesand the balance in equity and equity related securities) Entry Load: Nil, Exit Load: (i) 1% - For investments of less than Rs. 5 crores and if the investments are held for less than a period of 12 months; (ii) No Exit Load for investmentsof Rs. 5 crores and above; ICICI Prudential Discovery Fund^ (An open-ended Equity Fund. Objective is to generate returns through a combination of dividend income and capital appreciation by investing primarily in a well-diversified portfolio of value stocks) Entry Load: **, Exit Load: Nil; ICICI Prudential Long Term Floating Rate Plan – Option A, B & C (An open-ended Income Fund. Objective is to generate income through investmentsin a range of debt and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity) Entry Load : Nil, Exit Load : Nil for Options B andC and for Option A - 0.50% for investments of less than or equal to Rs. 1 Crore and redemption is made on or before the completion of six months from the date of allotment of units; ICICI Prudential Emerging S.T.A.R. (StocksTargeted At Returns) Fund^ (An open-ended Equity Fund. Primary objective is to generate capital appreciation by actively investing in diversified mid cap stocks. The scheme will invest primarily in companies that have a marketcapitalisation between 100 crores and 2000 crores.) Entry Load: **, Exit Load: The exit load structure for fresh and additional purchases for amounts less than Rs. 5 crores (including switch-ins from open ended debt schemes)made by unitholders during the period May 1, 2006 to May 31, 2006 will be – (i) 0.5% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of six months or less than six months fromthe date of allotment; (ii) Nil, if the amount sought to be redeemed or switched out is invested for a period of more than six months from the date of allotment. This load structure will be applicable only for the purchases (includingswitch-ins from open ended debt schemes) made during the period May 1, 2006 to May 31, 2006. For all other purchases made either before May 1, 2006 or after May 31, 2006 no exit load will be charged on the redemptions orswitch-outs made; ICICI Prudential Blended Plan (An open ended fund investing in a blend of equity, derivatives, debt and money market instruments under two Plans viz. Plan A and Plan B. Objective of Plan A under the schemeis to provide capital appreciation and income distribution to unitholders by investing in equity & equity related securities including derivatives and the balance portion in debt securities. Objective of Plan B under the scheme isto provide capital appreciation and income distribution to unitholders by investing predominantly in debt securities and the balance portion in equity & equity related securities including derivatives. Entry Load: Nil. Exit Load: Underboth the Plans viz., Plan A and Plan B, in case the amount sought to be redeemed is not invested by the investor for a period of 30 days from the date of allotment, an exit load @ 0.50% of applicable NAV will be imposed.); ICICIPrudential Infrastructure Fund^ (An open-ended equity scheme. Objective is to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of thecompanies belonging to the infrastructure industries and balance in debt securities and money market instruments including call money), Entry Load: For all purchases of less than Rs.5 crore per transaction - 2.25% of applicableNAV, For Purchases of Rs.5 crores and above per transaction - Nil, Exit Load: For Investments made before November 28, 2005 - (i) If the amount originally invested per transaction is less than Rs. 5 crores and the redemptionrequest is made before completion of 6 months from the date of allotment of units - 1.00%, (ii) If the amount originally invested per transaction is Rs. 5 crores or more and whether the redemption is sought within 6 months orbeyond; or Any amount invested, for which the redemption request is made on or after the completion of 6 months from the date of allotment of units - No exit load; For investments made from November 28, 2005 onwards: Noexit load will be charged for investments made under the Scheme on or after November 28, 2005 irrespective of the amount invested; ICICI Prudential Services Industries Fund (PISIF)^ (An open-ended equity Scheme.Objective: to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of the companies belonging to the service industry and balance in debt securitiesand money market instruments including call money), Entry Load: For all purchases of less than Rs.5 crore per transaction - 2.25% of applicable NAV, For Purchases of Rs. 5 crores and above per transaction - Nil; Exit Load: ForInvestments made during the New Fund Offering period: (i) 1% - If the amount originally invested per transaction is less than Rs. 5 crores and the redemption request is made before completion of 6 months from the date of allotmentof units. (ii) Nil - If the amount originally invested per transaction is Rs. 5 crores or more and whether the redemption is sought within 6 months or beyond; or Any amount invested, for which the redemption request is made onor after the completion of 6 months from the date of allotment of units. For investments made after New Fund Offer: Nil; ICICI Prudential Fusion Fund (A close-ended diversified equity scheme, with a maturity period of 5years, that seeks to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of companies across large, mid and small market capitalization. Entry Load: Nil, Exit Load: For theredemptions made before the maturity date of the Scheme i.e. redemptions made during the repurchase facility period, the following exit load structure will be applicable: (i) 5% of the applicable NAV, if the amount sought tobe redeemed is invested for a period of one year or less than one year from the date of allotment; (ii) 4% of the applicable NAV, if the amount sought to be redeemed is invested for a period more than one year but less than orequal to two years from the date of allotment; (iii) 3% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than two years but less than or equal to three years from the date of allotment;(iv) 2% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than three years but less than or equal to four years from the date of allotment; (v) 1% of the applicable NAV, if the amountsought to be redeemed is invested for a period of more than four years from the date of allotment but redeemed before the date of maturity of the Scheme; ICICI Prudential Equity & Derivatives Fund – Income OptimiserPlan [An open-ended equity fund. Objective is to seek to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and investments in short-term debt portfolio. Entry Load (inluding SIP/STP investments): Nil, Exit Load (inluding SIP/STP investments w.e.f. 5/01/07): (i) 0.5% of the applicable NAV, if the investment is redeemed within a period of 6 months from the date of allotment. (ii) Nil – if the investment is redeemedafter 6 months from the date of allotment]; ICICI Prudential Equity & Derivatives Fund – Wealth Optimiser Plan [An open-ended equity fund. Objective is to seek to provide capital appreciation and income distribution tothe investors by using equity derivatives strategies, arbitrage opportunities and pure equity investments. Entry Load (inluding SIP/STP investments): (i) 2.25% of the applicable NAV, if the investment amount is less than Rs.5 crores.(ii) Nil – for investment of Rs.5 crores and above. Exit Load: 0.5% of the applicable NAV, if the redemption/switch-out is made within 6 months from the date of investment, Nil for the investment of Rs.5 crores and above and redeemedat any time (Exit Load for SIP/STP investment is Nil)]; ICICI Prudential Fusion Fund Series – II [A close-ended diversified equity Scheme, with a maturity period of 3 years, that seeks to generate long-term capitalappreciation by investing predominantly in equity and equity related instruments of companies across large, mid and small market capitalization. Asset Allocation Pattern: Equity & equity related securities – 70% to 100%,Debt & Money Market Instruments* (including cash and cash equivalent) – 0 to 30%]. Entry Load: Nil, Exit Load: No exit load will be charged. However, being a close-ended Scheme, for redemptions made before theMaturity Date of the Scheme, i.e. redemptions made during the repurchase facility period, the AMC will redeem the units after recovering the balance proportionate unamortized new fund offer expenses in accordancewith SEBI Circular dated April 4, 2006. These are the names of the Schemes and do not in any manner indicate either the quality of the Schemes or their future prospects and returns. ** Entry Load for all the Equity Funds:(i) For investment of less than Rs.5 crores is 2.25% of applicable NAV; (ii) For investment of Rs.5 crores and above is Nil. No entry load will be payable in respect of switch transaction from one equity scheme of ICICI Prudentialto another equity scheme of ICICI Prudential. Further, for investments by a Fund of Funds Scheme(s) in various schemes of ICICI Prudential Mutual Fund, there would not be any entry load / exit load charged by the underlying schemes.^ For SIP & STP Investments: Entry load of 2.25% of the applicable NAV will be charged on the amount invested under the scheme(s). Exit Load: Nil.Exceptions: With effect from June 4, 2007, all new applications through the SIP & STP facility under Discovery Fund, Dynamic Plan, Emerging STAR Fund, Growth Plan, Power, Services Industries Fund andInfrastructure Fund, an exit load at the rate of 0.25% of the applicable NAV will be charged if the redemption/switch-out from the Schemes is made within 6 months from the date of allotment of units.For all investments below Rs. 5 crores made under Power and Services Industries Fund (excluding investments made through SIP and STP facility) from June 18, 2007, an exit load at the rate of 0.50% of the applicableNAV will be charged if redemption/switch-out of the investment is made within 6 months from the date of allotment of units.Load Structure on SIP & STP investments under the following schemes are as follows: • ICICI Prudential Child Care Plan (Gift Plan & Study Plan) – Entry Load: 1.50% of applicable NAV. Exit Load: 1.00%of Applicable NAV if the investment is redeemed within 3 years from the date of allotment, Nil thereafter • ICICI Prudential Moderate Plan – Entry Load: 1% of applicable NAV; Exit Load: Nil • ICICI Prudential AggressivePlan – Entry Load: 1% of applicable NAV; Exit Load: 0.5% of the applicable NAV, if the units are redeemed before completion of 2 years from the date of allotment • ICICI Prudential Very Aggressive Plan – Entry Load:1% of applicable NAV; Exit Load: 0.75% of the applicable NAV, if the units are redeemed before completion of 2 years from the date of allotment • ICICI Prudential Index Fund – Entry Load: Nil; Exit Load: 0.5% of theapplicable NAV, if the investment is redeemed within 1 year from the date of allotment, Nil thereafter • No entry or exit load will be charged on the SIP investments under ICICI Prudential Flexible Income Plan, ICICI PrudentialLong Term Plan, ICICI Prudential Income Plan, ICICI Prudential Monthly Income Plan, ICICI Prudential Income Multiplier Fund, ICICI Prudential Very Cautious Plan and ICICI Prudential Cautious Plan. Exit Load for fresh and additionalpurchases (including SIPs and STPs) made in the schemes given hereinbelow during September 15, 2006 to October 16, 2006, the following will be applicable: • ICICI Prudential Power, ICICI Prudential Dynamic Plan, ICICIPrudential Discovery Plan, ICICI Prudential Balanced Fund – (i) 0.50% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of six months or less than six months fromthe date of allotment. (ii) Nil for investment of Rs. 5 crores and above. • ICICI Prudential Income Multiplier Plan – (i) 1.25% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is investedfor a period of less than twelve months from the date of allotment. (ii) Nil for investment of Rs. 5 crores and above. • ICICI Prudential Monthly Income Plan – (i) 0.75% of the applicable NAV if the investment is made for an amountof less than or equal to Rs. 10 Lakhs and is invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investment of above Rs. 10 Lakhs. • ICICI Prudential Child Care Plan Gift and Study Option– 1.25% of the applicable NAV if invested for a period of three years or less than three years from the date of allotment. The exit load structure will also be applicable for switch-ins to any of the above schemes from the followingopen-ended debt schemes alone: (a) ICICI Prudential Liquid Plan (b) ICICI Prudential Floating Rate Plan (c) ICICI Prudential Sweep Plan - Cash Option. There will be no change in the exit load structure for all purchases,SIPs, STPs, Switch-ins made either before September 15, 2006 or after October 16, 2006.

ICICI Prudential Mutual Fund Corporate Office(Erstwhile Prudential ICICI Mutual Fund)

Peninsula Tower, 8th Floor, Peninsula Corporate Park, Ganpatrao Kadam Marg, Off. Senapati Bapat Marg,Lower Parel, Mumbai – 400 013. Telephone No.: 022-24997000 Fax No.: 022-2499 7029

Website: www.icicipruamc.com E-mail: [email protected]