SAAB MARFIN MBA

COMPANY PROFILE OF HDFC

SAAB MARFIN MBA

ABOUT HDFC STANDARD LIFE INSURANCE

HDFC Standard Life Insurance Company Ltd. is one of India's leading

private insurance companies, which offers a range of individual andgroup insurance solutions. It is a joint venture between Housing

Development Finance Corporation Limited (HDFC Ltd.), India's leadinghousing finance institution and a Group Company of the Standard Life,UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in

the joint venture.

HDFC STANDARD LIFE INSURANCE PARENTAGEHDFC Limited.

HDFC is India leading housing finance institution and has helped

build more than 23, 00,000 houses since its incorporation in1977.

In Financial Year 2003-04 its assets under management crossed

Rs. 36,000 Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840

crores. The depositor base now stands at around 1 milliondepositors.

Rated AAA by CRISIL and ICRA for the 10th consecutive year

Stable and experienced management

High service standards

Awarded The Economic Times Corporate Citizen of the year

Award for itslong-standing commitment to community development.

SAAB MARFIN MBAPresented the Dream Homeâ award for the best housing finance

provider in 2004 at the third Annual Outlook Money Awards.

Standard Life Group (Standard Life plc and itssubsidiaries)

Standard Life Group (Standard Life plc and its subsidiaries)

The Standard Life group has been looking after the financialneeds of customers for over 180 years

It currently has a customer base of around 7 million people whorely on the company for their insurance, pension, investment,

banking and health-care needs

Its investment manager currently administers £125 billion inassets

It is a leading pensions provider in the UK, and is rated byStandard & Poor's as 'strong' with a rating of A+ and as 'good'

with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in 2004,2005 and 2006 at the Money Marketing Awards, and it was

voted a 5 star life and pensions provider at the FinancialAdviser Service Awards for the last 10 years running. The '5 Star'

accolade has also been awarded to Standard Life Investmentsfor the last 10 years, and to Standard Life Bank since itsinception in 1998. Standard Life Bank was awarded the 'Best

Flexible Mortgage Lender' at the Mortgage Magazine Awards in2006

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HISTORY

HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august

2000. It is a joint venture between Housing Development FinanceCorporation Limited (HDFC Ltd.) India and UK based Standard LifeCompany. Both the joint venture partners being one of the leaders in

their respective areas came together in this 81.4:18.6 jointVenture to form HDFC standard life insurance company limited.

The MD and CEO of HDFC Standard Life Mr. Deepak Satwalekar, hasgiven the company new directions and has helped the company

achieve the status it currently enjoys. HDFC Standard Life brings to youa whole range of insurance solutions be it group or individual or NAV

services for corporations, they can be easily customized as per specificneeds.

HDFC Standard Life Insurance India boasts of covering around 8.7 lakhlives by March'2007. The gross incomes standing at a whopping Rs. 2,856 crores, HDFC Standard Life Insurance Corporation is sure to

become one of the leaders and the firstPreference for any life insurance customer.

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The Bancassurance partners of HDFC Standard Life Insurance Co Ltdare HDFC, HDFC Bank India Limited, Union Bank of India, Indian Bank,

Bank of Baroda,Sarawat Bank and Bajaj Capital.

The premium payment options available to the customers vary fromonline payment to direct desk payments at the HDFC Standard Life

Branches, by courier services or in drop boxes provided. You can alsopay by ECS or Automatic Debit System or credit cards or standinginstruction mandate. HDFC Standard Life Insurance Company is a

customer oriented corporation and aim at complete customersatisfaction.

The lapsation and renewal policy of HDFC Standard Life are clearlydefined on the official website. Online renewal forms are also available.

For any change in personal details like the contact details or thenominee of the policy or policy benefits, online servicing is alsoavailable. Even the claim procedure has been simplified since affect of

the loss life is irreparable and is thus fully understandable at HDFCStandard Life. A completely hassle-free process has been formulatedto provide maximum convenience.

HDFC Standard Life first came together for a possible joint venture, to

enter the Life Insurance market, in January 1995. It was clear from theoutset that both companies shared similar values and beliefs and astrong relationship quickly formed. In October 1995 the companies

signed a 3 year joint venture agreement.

Around this time Standard Life purchased a 5% stake in HDFC, further

strengthening the relationship.

SAAB MARFIN MBAThe next three years were filled with uncertainty, due to changes ingovernment and ongoing delays in getting the IRDA (InsuranceRegulatory and Development authority) Act passed in parliament.

Despite this both companies remained firmly committed to the venture.

In October 1998, the joint venture agreement was renewed and

additional resource made available. Around this time Standard Lifepurchased 2% of Infrastructure Development Finance Company Ltd.

(IDFC). Standard Life also started to use the services of the HDFCTreasury department to advise them upon their investments in India.

Towards the end of 1999, the opening of the market looked verypromising and both companies agreed the time was right to move theoperation to the next level. Therefore, in January 2000 an expert team

from the UK joined a hand picked team from HDFC to form the coreproject team, based in Mumbai.

Around this time Standard Life purchased a further 5% stake in HDFCand a 5% stake in HDFC Bank.

In a further development Standard Life agreed to participate in theAsset Management Company promoted by HDFC to enter the mutual

fund market. The Mutual Fund wasLaunched on 20th july 2000.

Incorporation of HDFC Standard Life Insurance Company Limited:The company was incorporated on 14th August 2000 under the name

of HDFCStandard life insurance company limited.

Their ambition from the beginning was to be the first private companyto re-enter the life insurance market in India. On the 23rd of October

SAAB MARFIN MBA2000, this ambition was realised when HDFC Standard Life was thefirst life company to be granted a certificate of registration.

HDFC are the main shareholders in HDFC Standard Life, with 81.4%,while Standard Life owns 18.6%. Given Standard Life's existinginvestment in the HDFC Group, this is the maximum investment

allowed under current regulations.

HDFC and Standard Life have a long and close relationship built uponshared values and trust. The ambition of HDFC Standard Life is tomirror the success of the parent companies and be the yardstick by

which all other insurance companies in India are measured.

HDFC Standard Life Insurance Company Limited is one of India's

leading private life insurance companies offering a range of individualand group insurance solutions. It is a joint venture between Housing

Development Finance Corporation Limited (HDFC Ltd), India's leadinghousing finance institution and Standard Life plc, the leading providersof financial services in the United Kingdom.

HDFC Ltd. as on December 31, 2007 holds 72.38 per cent of equity inthe joint venture. HDFC Standard Life's Product portfolio comprises

solutions, which meet various customer needs such as Protection,Pension, Savings, and Investment. Customers have the added

advantage of customizing the Plans, by adding optional benefits calledriders, at a nominal price. The company currently has 21 retail and 6group products in its portfolio.

HDFC Standard Life maintains very high professional standards duringproduct offerings by providing sound financial advice, efficient

post-sale service, and immaculate financial security. Ongoing trainingfor conventional products, and specialized training, for unit-linked

SAAB MARFIN MBAproducts, for its financial consultants, has also helped its customerschoose the product, best suited for their needs.

HDFC Standard Life operates across more than 726 cities and towns ofthe country supported by its strong network of more than 1,45,000Financial Consultants. HDFC Standard Life also has more than 383

corporate agents and other sales intermediaries including banks fordistribution of insurance products.

Awards and Accolades

May, 2008Received PCQuest Best IT Implementation Award 2008HDFC Standard Life received the PCQuest Best IT Implementation

Award 2008 for Consultant Corner, the applications for its financialconsultants, providing centralized control over a vast geographical

spread for key business units such as inventory, training, licensing, etc.Read more about the ‘Consultant Corner’ tool in the ‘HDFC SL in news’section.

HDFC Standard Life has won the PCQuest Best IT ImplementationAward for two years consequently. Last year, the company received theaward for Wonders, its path-breaking implementation of an

enterprise-wide workflow system.

March, 2008Silver Abby at Goafest 2008

HDFC Standard Life's radio spot for Pension Plans won a Silver Abby inthe radio writing craft category at the Goafest 2008 organised by theAdvertising Agencies Association of India (AAAI). The radio commercial

‘Pata nahin chala’ touched several changes in life in the blink of an eyethrough an old man’s perspective. The objective was drive awarenessand ask people to invest in a pension plan to live life to the fullest

even after retirement, without compromising on one’s self-respect.

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Laadli Media Award 2007HDFC Standard Life received Laadli Media Award 2007 for its 'Big car'TV commercial. It showed how a daughter wants to be more

responsible towards her family and asks her dad to upgrade to abigger car by offering him the extra money

Required to buy the car.

HDFC Standard Life received this award for two years consecutively. In

2006, it won for the 'Papa' TV commercial, which challenged thestereotype parents saving only for their son's education or daughter'swedding. The company took a bold step by showing parents saving for

their daughter's education abroad, demonstratingProgressive thinking.

Laadli Media Awards, instituted in 2007, by Population First, an NGOworking on women's rights and social development, is given to

professionals in print and electronic media and ad makers for gendersensitive news reports, articles, print, TV ads, and films.

March, 2008Unit Linked Savings Plan Tops Mint Best TV Ads Survey

The Unit Linked Savings Plan advertisement of HDFC Standard Life, oneof the leading private insurance companies in India, has topped Mint’sTop Television Advertisement survey conducted, for February 2008.

HDFC Standard Life’s Unit Linked Savings Plan advertisement wasranked 4th in terms of a combined score of ad awareness and brandrecall and 3rd in terms of ad diagnostic scores (likeability, enjoyment,

believability, and claim). The respondents were between 18 and 40years. Mint’s exclusive report, ‘New voices in a makeover’ outlines the

survey in detail.

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February, 2008Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007

Mr Deepak M Satwalekar, Managing Director and CEO, HDFC StandardLife, received the QIMPRO Gold Standard Award 2007 in the businesscategory at the 18th annual Qimpro Awards function. The award

celebrates excellence in individual performance and highlights thequality achievements of extraordinary individuals in an era of global

competition and expectations.January, 2008Sar Utha Ke Jiyo Among India’s 60 Glorious Advertising Moments

HDFC Standard Life’s advertising slogan honoured as one of ‘60Glorious Advertising & Marketing Moments' over the last 60 yearsin India,’ by 4Ps Business and Marketing magazine. The magazine said

that HDFC Standard Life is one of the first private insurers to break theice using the idea of self respect (Sar Utha Ke Jiyo) instead of 'death' toconvey its brand proposition. This was then, followed by othersincluding ICCI Prudential, thus giving HDFC Standard Life the credit ofbringing up one such glorious advertising and marketing moment in

the last 60 years.

4th August 2008HDFC Standard Life Launches Unit Linked Wealth Maximiser Plus

23rd July 2008

HDFC Standard Life Launches SimpliLife, a Unit Linked Plan in SimplestWay

14th May 2008HDFC Standard Life Declares Results for FY2007-08; New BusinessPremium Income grows by 63%

4th March 2008

SAAB MARFIN MBAHDFC Standard Life Expands its Reach with Inauguration of MohaliBranch

21st October 2007 –HDFC Standard Life Announces Muthoot Capital Services as itsCorporate Agency for Distribution of Life and Pension Products

7th May 2007

HDFC Standard Life expands its reach to smaller cities in MadhyaPradesh

15th February 2007HDFC Standard Life expands it’s reach in Vidarbha

16th May 2006HDFC Standard Life records impressive growth

7th February 2006HDFC Standard Life records impressive growth

29th November 2005HDFC Standard Life posts strong growth

16th August 2005

HDFC Standard Life grows faster than the private sector average

16th May 2005

HDFC Standard Life declares results for FY 2004-05

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RECRUITMENT PROCESSThe chief attributes HDFC SL looks out for in a candidate.

We look out for a candidate who values Integrity

Has a zeal for Excellence

Is focused on Results

Is Self driven and Enthusiastic

Is a good Learner and Team Player

Is dedicated to Customer Satisfaction

The Recruitment Process at HDFC SL

HDFC SL recruitment process are as follows:

Making an Application

Ensure the information is clear and well organized.

SAAB MARFIN MBADemonstrate your skills/experience/responsibilities in the

previous company

Assessment Process

We conduct relevant assessments like psychometric tests and

written exercises - these will be part of the selection process

The interview panel will ask questions which will assess yourknowledge, skills and attitude. You will also have your queries

addressed.

Conditions relating to offers of employment

All offers are subject to:

Satisfactory medical clearance

Satisfactory references

Evidence of qualifications and previous employment testimonials

FUTURE PLANS

HDFC Standard Life, plans IPO in '09

Mumbai, HDFC has booked a profit of around Rs 120 cr in a Rs 200 crtransaction involving sale of 7.15% stake in HDFC Standard Life to its

British partner. The promoters of HDFC Standard Life have said alsosaid that they will dilute stake through an IPO before 2009.

New HDFC Standard Life policy

Mumbai, HDFC Standard Life has launched a new product called "Unit

Linked Wealth Maximiser Plus". This is a single premium investmentcum protection plan, with a minimum premium of Rs 1 lakh. Thepolicyholder has the option to choose from five fund options - Money

Plus Fund, Bond Opportunities Fund, Large-cap Fund, Mid-cap Fund,

SAAB MARFIN MBAand Manager's Fund. HDFC Standard Life will offer regular loyalty unitsof 0.10 per cent every year as long as the policy is not surrendered.The accumulated value of the funds is received at the end of the policy

term. In the event of unfortunate demise of the policyholder during thepolicy tenure, HDFC Standard Life will pay the greater of the SumAssured (less all applicable withdrawals) and the total fund value to the

family members of the policyholder. The policy offers life insurancecover until the age of 99 years

FINANCIAL PERFORMANCEHDFC Standard Life, one of the leading private life insurancecompanies in India declared its annual results for the financial year

ending March 31, 2008. The company generated New BusinessPremium Income of Rs. 2,685 crores in FY2007-08 registering ayear-on-year growth of 63%. The growth was primarily driven by the

success of the company's initiative on structured sales processesbased on customer needs and their assessments.

HDFC Standard Life, one of the leading private life insurance

companies in India declared its annual results for the financial yearending March 31, 2008. The company generated New BusinessPremium Income of Rs. 2,685 crores in FY2007-08 registering a

year-on-year growth of 63%. The growth was primarily driven by thesuccess of the company’s initiative on structured sales processes

based on customer needs and their assessments.

Mr. Deepak Satwalekar, MD & CEO, HDFC Standard Life attributed thisgrowth to the quality of life insurance solutions offered by the

company and its increased geographical reach. He also emphasised,“We believe that our success is a result of our efforts in givingcustomers, the best long-term solutions to take care of their insurance

needs. Our endeavour to provide high quality insurance and pensionsolutions to customers through quality pre-sales advice, based on a

SAAB MARFIN MBAsound need-based solutions approach, and post-sales service hasstarted to pay off.”

Highlights of Financial Year 2007-08

New Business Premium Income up by 63% to Rs. 2,685 crores.Total Premium Income is up by 70% at Rs. 4,859 crores as

against Rs. 2,856 crores in FY2006-07

Alternate Channels including bancassurance has recorded animpressive growth of over 63% to contribute 41% to the Effective

Premium Income (EPI)

Group business funds under management have increased to Rs.

959 crores, registering a growth of 83% over FY2006-07

The average premium has increased to Rs. 33,000

Company products and services are now available in 726 cities

and towns across the country

Strength of Financial Consultants has increased to 1,45,000.

HDFC Standard Life tracks its New Business Premium on the basis ofEffective Premium Income (EPI). EPI is calculated by giving only a 10%

value to a Single Premium policy and is an internationally acceptedindicator of an insurance company’s performance. The total premium

income (including renewal premium) grew by 70% to touch a figure ofRs. 4,859 crores. High levels of persistency have resulted in higherlevel of renewal premiums. Although there has been a slight dip from

89% to 86%, we continue to have the highest persistency level in theindustry. The cumulative sum assured for all policies issued uptoMarch 31, 2008 crossed Rs. 87,000 crores.

In offering unit linked products, the structured sales process adopted

by the company has paid rich dividends. “We believe that we should beable to lengthen the maturity profile of our policy portfolio, now thatthe regulatory disincentive has been removed with effect from April 1,

SAAB MARFIN MBA2008,” added Mr. Satwalekar. HDFC Standard Life offers, both, lifeinsurance policies as well as pension products on a unit linkedplatform as also the conventional ‘with profits’ platform.

Over 50% of the sum assured as on March 31, 2008, is in respect ofnon unit-linked policies. Over 30% of funds under management are in

respect of non-linked business, which reflects the balanced bookbetween conventional and unit-linked business in the total portfolio of

the company.

The company’s national relationships with large public and private

sector banks have also helped it reach out to a larger number ofcustomers across the country. The company plans to furtherstrengthen these relationships through the introduction of products

specially designed for this channel.

HDFC Standard Life continues to have one of the widest reachesamong new insurance companies. The company strengthened itsnumber of offices from 103 to 572 across the country in less than 3

years. Through these offices, the company today services customerneeds in over 726 cities and towns. The company also increased itsdepth in existing markets by increasing its Financial Consultant

strength from 74,000 as on March 31, 2007 to 1,45,000 as on March31, 2008. There has been a huge jump of 300% over the last 3 years in

the number of its Financial Consultants who have qualified to becomemembers of the prestigious Million Dollar Round Table (MDRT) Club.The strength of MDRT qualified members has gone up to 496 as on

December 31, 2007.

As against the regulatory requirement of writing 18% of all policies in

rural areas, HDFC Standard Life has issued over 217,000 policiesaccounting for 23% of all policies issued during 2007-08. Additionally,

during 2007-08, HDFC Standard Life has covered 51,326 lives under

SAAB MARFIN MBAthe social sector category, as against the requirement of 25,000 lives.Overall, the company has covered over 9,59,000 lives during the yearending March 31, 2008.

To meet the demands arising from the company’s rapid growth,shareholders have contributed additional Rs. 470 crores of equity to

take the paid-up share capital as on March 2008 to Rs. 1,271 crores.

SAAB MARFIN MBA

ADVERTISEMENT AND SALES PROMOTION

Film opens in the compound ofa house. Father is checking

something inside the bonnet ofan old small car. His daughter,around 27-28 years old, isworking on a lap top next to

him

Daughter: “Dad”. Father: “Bolo”Daughter: “Nayi car lene mein

hee bhalaai hai.”Dad nods in agreement withoutlooking up. Dad: “Hmmm…”

Daughter continuesaffirmatively as she signs on a

cheque.Daughter: “Aur wo bhi badi

wali.”

Dad looks at her and asks.Dad: “Huh, Badi kyon?”

Daughter, walks towards himwith swinging hand in air and

says.Daughter: “Kyonki ToolikaSharma chahti hai uske dad

style se travel kare.”

Dad goes back to checking theengine and says in a light

hearted tone.Dad: “Aur Extra paise dad dega

kya?”Daughter replies firmly: “Nahi.

Mere dad ki beti.”

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Daughter: “Relax dad, plankiya.”

Dad doesn’t know what to say:“Par...”

And hands him the cheque.Dad looks at the cheque and

questions.Dad (seriously): “Itne paise

aaye kahaan se?”

Dad doesn’t know what to sayas he looks at the cheque.

Daughter pleads: “Please…dad”

Mother enters with tea. Shesenses something serious and

questions them.Mother: “Aree Kya hua?”

Father looks at her and saysemotionally.

Dad: “Car badi ho gayi, aur betibhi.”

Daughter smiles with pride.

Super: Unit Linked SavingsPlans

MVO: “Unit Linked SavingsPlans from HDFC Standard Life.zimmedari nibhao, Aaj bhi kal

bhi ”

Father daughter are sitting.MVO: “Sar Utha Ke Jiyo.”

SAAB MARFIN MBABOARD MEMBERS

Brief profile of the Board of Directors

Mr. Deepak S Parekh is the Chairman of the Company. He is

also the Executive Chairman of Housing Development FinanceCorporation Limited (HDFC Limited). He joined HDFC Limited in

a senior management position in 1978. He was inducted as awhole-time director of HDFC Limited in 1985 and was appointed

as its Executive Chairman in 1993. He is the Chief ExecutiveOfficer of HDFC Limited. Mr. Parekh is a Fellow of the Institute ofChartered Accountants (England & Wales).

Mr. Keki M Mistry joined the Board of Directors of the Company

in December, 2000. He is currently the Managing Director ofHDFC Limited. He joined HDFC Limited in 1981 and became an

Executive Director in 1993. He was appointed as its ManagingDirector in November, 2000. Mr. Mistry is a Fellow of the

Institute of Chartered Accountants of India and a member of theMichigan Association of Certified Public Accountants.

Mr. Alexander M Crombie joined the Board of Directors of the

Company in April, 2002. He has been with the Standard LifeGroup for 34 years holding various senior management

positions. He was appointed as the Group Chief Executive of theStandard Life Group in March 2004. Mr. Crombie is a fellow ofthe Faculty of Actuaries in Scotland.

Ms. Marcia D Campbell is currently the Group Operations

Director in the Standard Life group and is responsible for GroupOperations, Asia Pacific Development, Strategy & Planning,

Corporate Responsibility and Shared Services Centre. Ms.Campbell joined the Board of Directors in November 2005.

Mr. Keith N Skeoch is currently the Chief Executive in Standard

Life Investments Limited and is responsible for overseeingInvestment Process & Chief Executive Officer Function. Prior to

SAAB MARFIN MBAthis, Mr. Skeoch was working with M/s. James Capel & Co.holding the positions of UK Economist, Chief Economist,Executive Director, Director of Controls and Strategy HSBS

Securities and Managing Director International Equities. He wasalso responsible for Economic and Investment Strategy researchproduced on a worldwide basis. Mr. Skeoch joined the Board of

Directors in November 2005.

Mr. Gautam R Divan is a practising Chartered Accountant and is

a Fellow of the Institute of Chartered Accountants of India. Mr.Divan was the Former Chairman and Managing CommitteeMember of Midsnell Group International, an International

Association of Independent Accounting Firms and has authoredseveral papers of professional interest. Mr. Divan has wideexperience in auditing accounts of large public limited

companies and nationalised banks, financial and taxationplanning of individuals and limited companies and also has

substantial experience in structuring overseas investments toand from India.

Mr. Ranjan Pant is a global Management Consultant advising

CEO/Boards on Strategy and Change Management. Mr. Pant,until 2002 was a Partner & Vice-President at Bain & Company,

Inc., Boston, where he led the worldwide Utility Practice. He wasalso Director, Corporate Business Development at GeneralElectric headquarters in Fairfield, USA. Mr. Pant has an MBA from

The Wharton School and BE (Honours) from Birla Institute ofTechnology and Sciences.

Mr. Ravi Narain is the Managing Director & CEO of National

Stock Exchange of India Limited. Mr. Ravi Narain was a memberof the core team to set-up the Securities & Exchange Board of

India (SEBI) and is also associated with various committees ofSEBI and the Reserve Bank of India (RBI).

Mr. Deepak M Satwalekar is the Managing Director and CEO of

the Company since November, 2000. Prior to this, he was the

SAAB MARFIN MBAManaging Director of HDFC Limited since 1993. Mr. Satwalekarobtained a Bachelors Degree in Technology from the IndianInstitute of Technology, Bombay and a Masters Degree in

Business Administration from The American University,Washington DC.

Ms. Renu S. Karnad is the Executive director of HDFC Limited, is

a graduate in law and holds a Master's degree in economics fromDelhi University. She has been employed with HDFC Limited

since 1978 and was appointed as the Executive Director in 2000.She is responsible for overseeing all aspects of lendingoperations of HDFC Limited.

AREAS OF OPERATION

Helping Indians experience the joy of home ownership. The road to

success is a tough and challenging journey in the dark where onlyobstacles light the path. However, success on a terrain like this is not

without a solution. As we found out nearly three decades ago, in 1977,the solution for success is customer satisfaction. All you need is thecourage to innovate, the skill to understand your clientele and the

desire to give them your best. Today, nearly three million satisfiedcustomers whose dream we helped realise, stand testimony to oursuccess. Our objective, from the beginning, has been to enhance

residential housing stock and promote home ownership. Now, ourofferings range from hassle-free home loans and deposit products, to

property related services and a training facility. We also offerspecialized financial services to our customer base throughpartnerships with some of the best financial institutions worldwide.

SAAB MARFIN MBAThe Housing Development Finance Corporation Limited (HDFC) wasamongst the first to receive an 'in principle' approval from the ReserveBank of India (RBI) to set up a bank in the private sector, as part of the

RBI's liberalisation of the Indian Banking Industry in 1994. The bankwas incorporated in August 1994 in the name of 'HDFC Bank Limited',with its registered office in Mumbai, India. HDFC Bank commenced

operations as a Scheduled Commercial Bank in January 1995.

HDFC Mutual Fund has been one of the best performing mutual fundsin the last few years. HDFC Asset Management Company Limited (AMC)functions as an Asset Management company for the HDFC mutual fund.

AMC is a joint venture between housing finance giant HDFC and British

investment firm Standard Life Investments Limited. It conducts theoperations of the Mutual Fund and manages assets of the schemes,

including the schemes launched from time to time. As of Aug 2006,the fund has assets of Rs.25,892 crores under management.

IN 2003, following a decision by the Zurich Insurance Company (ZIC),the Sponsor of Zurich India Mutual Fund, to divest its assetmanagement business in India, AMC had entered into an agreement

with ZIC to acquire the asset management business. Consequently, allthe schemes of Zurich Mutual Fund in India had been transferred to

HDFC mutual fund and renamed as HDFC schemes.Here is a list of mutual funds of HDFC which includes Equity Funds,Balanced Funds and Debt Funds.

SAAB MARFIN MBAHDFC Securities, a trusted financial service provider promoted byHDFC Bank and JP Morgan Partners and their associates, is a leadingstock broking company in the country, serving a diverse customer

base of institutional and retail investors.HDFCsec.com provides investors a robust platform to trade in Equitiesin NSE and BSE , and derivatives in NSE. Our website will support you

with the highest standards of service, convenience and hassle-freetrading tools.

Our research team tracks the economy, industries and companies toprovide you the latest information and analysis. Our content offersfinancial information, analysis, investment guidance, news & views,

and is designed to meet the requirements of everyone from a beginnerto a savvy and well-informed trader.

HDFC Realty is a wholly owned subsidiary of HDFC. We have assistedindividuals in acquiring homes valued at 5000 million rupees.

HDFC is a pioneer housing finance institution in India and with over 30years in operations has provided finance to over a million families in

India.

We are a team of real estate professionals facilitating Buying, Selling orLeasing of Residential / Commercial property.

At HDFC Realty, we provide personalized attention to the individualsand corporates in their process of identifying properties. Fromunderstanding the requirement to organizing the site visits to

completion of transaction, we make every effort to make the processof acquiring a property, hassle free and convenient.

SAAB MARFIN MBA

MARKET SHARE

HDFC Limited.

HDFC is India’s leading housing finance institution and has

helped build more than 23,00,000 houses since itsincorporation in 1977.

In Financial Year 2003-04 its assets under management crossed

Rs. 36,000 Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840

crores. The depositor base now stands at around 1 milliondepositors.

Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year

Stable and experienced management

SAAB MARFIN MBAHigh service standards

Awarded The Economic Times Corporate Citizen of the yearAward for its

long-standing commitment to community development.

Presented the ‘Dream Home’ award for the best housing finance

provider in 2004 at the third Annual Outlook Money Awards.

Standard Life Group (Standard Life plc and its subsidiaries)

The Standard Life group has been looking after the financial

needs of customers for over 180 years

It currently has a customer base of around 7 million people who

rely on the company for their insurance, pension, investment,banking and health-care needs

Its investment manager currently administers £125 billion in

assets

It is a leading pensions provider in the UK, and is rated by

Standard & Poor's as 'strong' with a rating of A+ and as 'good'with a rating of A1 by Moody's

Standard Life was awarded the 'Best Pension Provider' in 2004,

2005 and 2006 at the Money Marketing Awards, and it wasvoted a 5 star life and pensions provider at the Financial

Adviser Service Awards for the last 10 years running . The '5Star' accolade has also been awarded to Standard Life

Investments for the last 10 years, and to Standard Life Banksince its inception in 1998. Standard Life Bank was awardedthe 'Best Flexible Mortgage Lender' at the Mortgage Magazine

Awards in 2006

SAAB MARFIN MBAOBJECTIVE

Focus on the productivity of each consultant, corporate or

individual, while stressing on the quality of proposals

Quick roll out of Products

Efficiency of Operations

Meet Social & Rural sector obligations

OUR VISION

'The most successful and admired life insurance company, which

means that we are the most trusted company, the easiest to deal with,offer the best value for money, and

set the standards in the industry’.

'The most obvious choice for all'.

OUR VALUES

Values that we observe while we work:

Integrity

Innovation

Customer centric

People Care One for all and all for ones€

Teamwork

Joy and Simplicity

SAAB MARFIN MBA

MMAAJJOORR CCOOMMPPEETTIITTOORRSS OOFF HHDDFFCC SSTTAANNDDAARRDD LLIIFFEE

Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) was established on 1

September 1956 to spread the message of life insurance in the country

and mobilise people’s savings for nation-building activities. LIC with

its central office in Mumbai and seven zonal offices at Mumbai,

Calcutta, Delhi, Chennai, Hyderabad, Kanpur and Bhopal, operates

through 100 divisional offices in important cities and 2,048 branch

offices. LIC has 5.59 lakh active agents spread over the country.

The Corporation also transacts business abroad and has offices in Fiji,

Mauritius and United Kingdom. LIC is associated with joint ventures

abroad in the field of insurance, namely, Ken-India Assurance

Company Limited, Nairobi; United Oriental Assurance Company

Limited, Kuala Lumpur; and Life Insurance Corporation (International),

E.C. Bahrain. It has also entered into an agreement with the Sun Life

(UK) for marketing unit linked life insurance and pension policies in

U.K.

In 1995-96, LIC had a total income from premium and investments of

$ 5 Billion while GIC recorded a net premium of $ 1.3 Billion. During

the last 15 years, LIC's income grew at a healthy average of 10 per

cent as against the industry's 6.7 per cent growth in the rest of Asia

(3.4 per cent in Europe, 1.4 per cent in the US).

SAAB MARFIN MBALIC has even provided insurance cover to five million people living

below the poverty line, with 50 per cent subsidy in the premium rates.

LIC's claims settlement ratio at 95 per cent and GIC's at 74 per cent are

higher than that of global average of 40 per cent. Compounded annual

growth rate for Life insurance business has been 19.22 per cent per

annum

General Insurance Corporation of India (GIC)

The general insurance industry in India was nationalized and a

government company known as General Insurance Corporation of India

(GIC) was formed by the Central Government in November 1972. With

effect from 1 January 1973 the erstwhile 107 Indian and foreign

insurers which were operating in the country prior to nationalization,

were grouped into four operating companies, namely, (i) National

Insurance Company Limited; (ii) New India Assurance Company Limited;

(iii) Oriental Insurance Company Limited; and (iv) United India

Insurance Company Limited. (However, with effect from Dec'2000,

these subsidiaries have been de-linked from the parent company and

made as independent insurance companies). All the above four

subsidiaries of GIC operate all over the country competing with one

another and underwriting various classes of general insurance

business except for aviation insurance of national airlines and crop

insurance which is handled by the GIC.

SAAB MARFIN MBABesides the domestic market, the industry is presently operating in 17

countries directly through branches or agencies and in 14 countries

through subsidiary and associate companies.

LIFE INSURANCE COMPANIES

Max New York Life Insurance Co. Ltd.

Max New York Life Insurance Company Limited is a joint venture that

brings together two large forces - Max India Limited, a multi-business

corporate, together with New York Life International, a global expert in

life insurance. With their various Products and Riders, there are more

than 400 product combinations to choose from. They have a national

presence with a network of 57 offices in 37 cities across India.

ICICI Prudential Life Insurance Company Ltd.

ICICI Prudential Life Insurance Company is a joint venture between

ICICI Bank, a premier financial powerhouse and prudential plc, a

leading international financial services group headquartered in the

United Kingdom. ICICI Prudential was amongst the first private sector

insurance companies to begin operations in December 2000 after

receiving approval from Insurance Regulatory Development Authority

(IRDA). The company has a network of about 56,000 advisors; as well

as 7 banc assurance and 150 corporate agent tie-ups.

Om Kotak Mahindra Life Insurance Co. Ltd.

SAAB MARFIN MBAKotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture

between Kotak Mahindra Bank Ltd. (KMBL), and Old Mutual plc.

Birla Sun Life Insurance Company Ltd.

Birla Sun Life Insurance Company is a joint venture between Aditya

Birla Group and Sun Life financial Services of Canada.

Tata AIG Life Insurance Company Ltd.

SBI Life Insurance Company Limited

ING Vysya Life Insurance Company Private Limited

Allianz Bajaj Life Insurance Company Ltd.

Metlife India Insurance Company Pvt. Ltd.

AMP SANMAR Assurance Company Ltd.

Dabur CGU Life Insurance Company Pvt. Ltd.

GENERAL INSURANCE

1. Royal Sundaram Alliance Insurance Company Limited

The joint venture bringing together Royal & Sun Alliance Insurance and

Sundaram Finance Limited started its operations from March 2001.

The company is Head Quartered at Chennai, and has two Regional

Offices, one at Mumbai and another one at New Delhi.

2. Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company Limited is a joint venture

between Bajaj Auto Limited and Allianz AG of Germany. Both enjoy a

reputation of expertise, stability and strength.

SAAB MARFIN MBABajaj Allianz General Insurance received the Insurance Regulatory and

Development Authority (IRDA) certificate of Registration (R3) on May

2nd, 2001 to conduct General Insurance business (including Health

Insurance business) in India. The Company has an authorized and paid

up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining

26% is held by Allianz, AG, Germany.

3. ICICI Lombard General Insurance Company Limited

ICICI Lombard General Insurance Company Limited is a joint venture

between ICICI Bank Limited and the US-based $ 26 billion Fairfax

Financial Holdings Limited. ICICI Bank is India's second largest bank,

while Fairfax Financial Holdings is a diversified financial corporate

engaged in general insurance, reinsurance, insurance claims

management and investment management.

Lombard Canada Ltd, a group company of Fairfax Financial Holdings

Limited, is one of Canada's oldest property and casualty insurers. ICICI

Lombard General Insurance Company received regulatory approvals to

commence general insurance business in August 2001.

4. Cholamandalam General Insurance Company Ltd.

Cholamandalam MS General Insurance Company Limited (Chola-MS) is

a joint venture of the Murugappa Group & Mitsui Sumitomo.

Chola-MS commenced operations in October 2002 and has issued

more than 1.4 lakh policies in its first calendar year of operations. The

company has a pan-Indian presence with offices in Chennai,

SAAB MARFIN MBAHyderabad, Bangalore, Kochi, Coimbatore, Mumbai, Pune, Indore,

Ahmedabad, Delhi, Chandigarh, Kolkata and Vizag.

5. TATA AIG General Insurance Company Ltd.

Tata AIG General Insurance Company Ltd. is a joint venture company,

formed from the Tata Group and American International Group, Inc.

(AIG). Tata AIG combines the strength and integrity of the Tata Group

with AIG's international expertise and financial strength. The Tata

Group holds 74 per cent stake in the two insurance ventures while AIG

holds the balance 26 per cent stake.

Tata AIG General Insurance Company, which started its operations in

India on January 22, 2001, offers the complete range of insurance for

automobile, home, personal accident, travel, energy, marine, property

and casualty, as well as several specialized financial lines.

6. Reliance General Insurance Company Limited.

7. IFFCO Tokio General Insurance Co. Ltd

8. Export Credit Guarantee Corporation Ltd.

9. HDFC-Chubb General Insurance Co. Ltd.

STRENGHS

Financial Expertise

As a joint venture of leading financial services groups, hdfc standard

life has the financial expertise required to manage your long-terminvestments safely and efficiently.

SAAB MARFIN MBARange of Solutions

We have a range of individual and group solutions, which can be easily

customised to specific needs. Our group solutions have been designedto offer you complete flexibility combined with a low chargingstructure.

Track Record so far

Our gross premium income, for the year ending March 31, 2008 stood

at Rs. 4,859 crores and new business premium income stood at Rs.2,685 crores.

The company has covered over 9,59,000 lives year ending March 31,2008.

Products of HDFC standard life insurance

Indivisual

Group

Social

Individual ProductsWe at HDFC Standard Life realize that not everyone has the same kind

of needs. Keeping this in mind, we have a varied range of Productsthat you can choose from to suit all your needs. These will help secureyour future as well as the future of your family.

Protection Plans

You can protect your family against the loss of your income or theburden of a loan in the event of your unfortunate demise, disability orsickness. These plans offer valuable peace of mind at a small price.

SAAB MARFIN MBAOur Protection range includes our Term Assurance Plan & Loan CoverTerm Assurance Plan.

Investment PlansOur Single Premium Whole Of Life plan is well suited to meet your longterm investment needs. We provide you with attractive long term

returns through regular bonuses.

Pension PlansOur Pension Plans help you secure your financial independence evenafter retirement.

Our Pension range includes our Personal Pension Plan, Unit LinkedPension, Unit Linked Pension Plus

Savings PlansOur Savings Plans offer you flexible options to build savings for your

future needs such as buying a dream home or fulfilling your childrenimmediate and future needs.Our Savings range includes Endowment Assurance Plan, Unit Linked

Endowment, Unit Linked Endowment Plus, Unit Linked Endowment PlusII, Money Back,Unit Linked Enhanced Life Protection II, Children's Plan, Unit Linked

Young Star,Unit Linked Young Star Plus, Unit Linked Young Star Plus II.

Group Products

One-stop shop for employee-benefit solutionsHDFC Standard Life has the most comprehensive list of products for

progressive employers who wish to provide the best and most

innovative employee benefit solutions to their employees. We offer

different products for different needs of employers ranging from term

SAAB MARFIN MBAinsurance plans for pure protection to voluntary plans such as

superannuation and leave encashment.

We now offer the following group products to our esteemed corporate

clients:

Group Term Insurance

Group Variable Term Insurance

Group Unit-Linked Plan

An investment solution that provides funding vehicle to manage

corpuses with Gratuity, Defined Benefit or Defined Contribution

Superannuation or Leave Encashment schemes of your company

Also suitable for other employee benefit schemes such as salary saving

schemes and wealth management schemes

Social Product

Development insurance plan

Development Insurance plan is an insurance plan which provides life

cover to members of a Development Agency for a term of one year. On

the death of any member of the group insured during the year of cover,

a lump sum is paid to those member beneficiaries to help meet some

of the immediate financial needs following their loss.

Eligibility

Members of the development agency and their spouses with:

Minimum age at the start of the policy 18 years last birthday

Maximum age at the start of policy 50 years last birthday

Employees of the Development Agency are not eligible to join thegroup. The group to be covered is only eligible if it contains more than500 members.

Premium Payments

SAAB MARFIN MBAThe premium to be paid will be quoted per member in the group andwill be the same for all members of the group.

The premium can only be paid by the Development Agency as a single

lump sum that includes all premiums for the group to be covered.Cover will not start until the premium and all the member informationin our specified format has been received

The premium rate is Rs. 25 per Rs. 10,000 of lump sum, per member.

Benefits

On the death of each member covered by the policy during the year of

cover a lump sum equal to the sum assured will be paid to their

beneficiaries or legal heirs. Where the death is as a result of an

accident, an additional lump sum will be paid equal to half the sum

assured. There are no benefits paid at the end of the year of cover and

there is no surrender value available at any time.

The role of the Development Agency

Due to the nature of the groups covered, HDFC Standard Life will be

passing certain administrative tasks onto the Development Agency. Bypassing on these tasks the premium charged can be lower. These

tasks would include:

Submission of member data in a specified computer format

Collection of premiums from group members

Recording changes in the details of group members

Disbursement of claim payments and the mortality rebate (if any)

to group members.

These tasks would be in addition to the usual duties of a policyholder

such as:

Payment of premiums

Reporting of claims

Keeping policy holder information up to date

SAAB MARFIN MBATraining and support will be available to give guidance on how

to complete the tasks appropriately.

Since these additional tasks will impose a burden on the DevelopmentAgency, the Development Agency may charge a Rs. 10 administrationfee to their members.

Prohibition of rebates

Section 41 of the Insurance Act, 1938 statesNo person shall allow or offer to allow, either directly or indirectly, as

an inducement to any person to take out or renew or continue aninsurance in respect of any kind of risk relating to lives or property inIndia, any rebate of the whole or part of the commission payable or

any rebate of the premium shown on the policy, nor shall any persontaking out or renewing or continuing a policy accept any rebate,

except such rebate as may be allowed in accordance with thepublished prospectus or tables of the insurerIf any person fails to comply with sub regulation (previous point)

above, he shall be liable to payment of a fine which may extend torupees five hundred