Released on = January 31, 2007, 11:32 pm

Press Release Author = Charudatta Deshpande

Industry = Financial

Press Release Summary = ICICI Bank has introduced Loan on the Spot in the Car loan
division for its customers. LOTS will be available for car loans in 10 cities, ICICI
Bank savings account holder and debit card customers can check the pre-approved loan
on the spot by swiping the debit card.

Press Release Body = Mumbai (ICICI Bank) February 1, 2007 -- ICICI Bank, India's
second largest Bank and a leader in Retail Banking, today announced a new initiative
in its Car Loans segment. ICICI Bank has introduced an innovative service "LOTS"
(Loan on the Spot) in the Car loan division for its existing saving account
customers.

LOTS is an innovative automated channel to facilitate easy loans and is a
convenience offered to the existing savings account-holders of ICICI Bank. A
customer can get a pre-approved offer on the swipe of the Debit Card. The Electronic
Data Capture (EDC) terminal placed at select automobile dealerships will now be used
as an automated channel for delivering pre-approved Car loans to the customers. With
LOTS there is no need to call up call centre.

In the first phase, LOTS will be available for Car Loans in 10 cities namely Mumbai,
Delhi, Kolkata, Chennai, Hyderabad, Bangalore, Pune, Ahemdabad, Chandigarh and
Jaipur.

Commenting on the launch Mr. Rajiv Sabharwal, Senior General Manager, ICICI Bank,
said, "Flexible schemes and quick processing of the loans coupled with convenience
has always remained the priority at ICICI Bank. We at the Bank constantly innovate
and offer the best of schemes/services to our customers." How does LOTS Work?

A customer who wants to buy a car moves into the dealers shop and chooses a car. If
the customers is an existing ICICI Bank savings account holder and holds a Debit
Card then the customer can check the pre-approved loan offer on the spot by swiping
the debit card.

The EDC terminal installed at the dealer's outlet ejects a printed slip which gives
offer details along with the unique number generated for the customer. The dealer
can use this pre-approved offer slip to obtain a sanction from ICICI Bank within an
hour.


About ICICI Bank:

ICICI Bank (NYSE:IBN) is India\'s second largest bank and largest private sector bank
with over 50 years presence in financial services and with assets of Rs. 2,823.73
billion as on September 30, 2006. The Bank offers a wide range of banking products
and financial services to corporate and retail customers through a variety of
delivery channels and through its specialised subsidiaries in the areas of
investment banking, life and non-life insurance, private equity and asset
management. ICICI Bank is a leading player in the retail banking market and services
its large customer base through a network of over 660 branches and extension
counters, 2,350 ATMs, call centers and internet banking (www.icicibank.com) to
ensure that customers have access to its services at all times.


Web Site = http://www.icicibank.com

Contact Details = 022-26538208,
charudatta.deshpande@icicibank.com