Religare Capital Markets and Garanti Securities of Turkey

enter into a strategic partnership

New Delhi/Istanbul/London, June 8, 2010: Religare Capital Markets Limited (RCML), the Investment Banking and Institutional Securities arm of global financial services group, Religare Enterprises Limited and Turkey’s Garanti Securities are pleased to announce an agreement on strategic cooperation in investment banking.

In a move which further extends RCML’s reach in global emerging markets investment banking, the strategic relationship with Garanti Securities extends to advisory on cross-border mergers and acquisitions, private capital raising, distribution of initial public offerings and co-investment opportunities related to India and Turkey.

The accord is well-timed, with India and Turkey in the latter stages of negotiating a free trade agreement and with bilateral trade poised to touch $5 billion by 2011 according to the Indian Government. Consistent with RCML’s commitment to offer meaningful expertise and access to relationships in all of the world’s key emerging markets, the deal with Garanti Securities offers the clients of both firms a clear advantage as activity increases in the trade and investment corridor between India and Turkey.

Commenting on the development, Martin Newson, CEO Religare Capital Markets Limited said: “This is an important development for us and helps us further strengthen our global network. Turkey is one of the world’s most dynamic economies based on its mix of modern industry and traditional agriculture. With a growing population, an established consumer class and a private sector emerging strongly from privatization, there are notable commercial and cultural resonances with India and other parts of the globe. Garanti Securities is an undisputed market leader in the Turkish capital markets and we are proud to be associated with them.”

Speaking on the partnership, Metin Ar, President and CEO of Garanti Securities said “India is definitely a country and economy having great potential and Turkey, in our judgment, should take timely action to capture a competitive position ahead of other countries in its relationships with India. Our President’s visit to India earlier this year in February 2010, with a large delegation of Turkish government officials along with businessmen representing different sectors, was an important proof of Turkey’s dedication to improve cross-cultural and business related synergies among both nations by increasing awareness between the two. We feel that this strategic cooperation with Religare is a significant move towards establishing a platform to identify, introduce and execute cross-border deals between India and Turkey. We believe that Religare’s strong presence in the emerging markets as well as in India will strengthen our joint position in the region.”

About Religare Capital Markets

Religare Capital Markets (RCML) is part of Religare Enterprises Limited (REL) – a global financial services group. REL is committed to create in RCML a global emerging markets focused Investment banking and Institutional Securities business. RCML is continually adding to its suite of products and strengthening its team. RCML comprises Religare Capital Markets plc (which is authorized and regulated by the Financial Service Authority and is a Member of the London Stock Exchange and the NASDAQ Dubai and acts as an broker for companies traded on the main and AIM UK Markets, and is a PLUS Markets Corporate Adviser) and RCML (UK) Limited which authorized and regulated by the Financial Services Authority and is able to act as Sponsor to companies on the Official List of the UK Listing Authority and as Nominated Adviser to AIM Companies. Currently, the principal areas of activity for RCML globally are Institutional broking and research, Equity Capital Market and M&A. In UK, the firm also offers broking services to UK Mid caps, contracts for difference and operates a London listings and broking business.

About Religare Enterprises Limited (Religare) – www.religare.in <http://www.religare.in>

Religare is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, Religare’s largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. The group has also pioneered the concept of investments in alternative asset classes such as arts and films. With over 10,000 employees across multiple geographies, Religare serves over a million clients, including corporates and institutions, high net worth families and individuals, and retail investors.

About Garanti Securities– www.garantisecurities.com

Garanti Securities, as a fully owned subsidiary of Garanti Bank and with its experienced team, rich range of products, and strong relationships built on customer-centric management concept, maintains its leading position in its sector.

Garanti Securities provides corporate finance, research and capital markets brokerage services to its domestic and foreign clients. Garanti Securities stands out as the sector’s leading institution in brokerage activities, as well as in consultancy services offered in relation to mergers and acquisitions, equity and debt public offerings, and privatizations. Garanti Securities has won Global Finance’s “Best Investment Bank in Turkey” award for four consecutive years 2007, 2008, 2009 and 2010. Garanti Bank, established 63 years ago, is the second largest private bank in Turkey with $77 billion asset size as of 31 March, 2010.

Global:

Subhrangshu Neogi
Director- Brand & Corporate Communications

Religare Enterprises Limited
Email: mediarelations@religare.in

Contact number: T: +91 11 39126165

M: +91 9910993925

India:

Samir Kapur EVP - Corporate Communications Religare Enterprises Limited Email: mediarelations@religare.in Contact number: T: +91 11 39126174 M: +91 95828005150
Ryan Alan Marshall Senior Manager - Corporate Communications Religare Enterprises Limited Email: mediarelations@religare.in Contact number: T: +91 11 39126160 M: +91 9560392631	Abha Mary Xess Asst. Manager - Corporate Communications Religare Enterprises Limited Email: mediarelations@religare.in Contact number: T: +91 11 39126141 M: +91 9650690886

United States of America Nina Devlin Edelman Email: nina.devlin@edelman.com Contact Number T: +1 212 704 8145 M: +1 91 73 021717

United Kingdom Paul Marriott Financial Dynamics Email: paul.marriott@fd.com Contact number: T: +44 207 269 7252 M: +44 7710 426 131

Turkey

Çağan Erkan Executive Vice President Corporate Finance Garanti Securities Email: cerkan@garanti.com.tr Contact number: T: +90 212 318 2710 M: +90 532 481 7348	Müge Tuna Executive Vice President Private Equity Garanti Securities Email: mtuna@garanti.com.tr Contact number: T: +90 212 318 2714 M: +90 533 696 3985
Mahmut Kaya Executive Vice President Research & Institutional Sales Garanti Securities Email: mkaya@garanti.com.tr Contact number: T: +90 212 318 2738 M: +90 532 383 37 89