Issue of Equity

ALLOTMENT OF EQUITY SHARES UNDER ESOP - AXIS BANK

We are pleased to inform that the Committee of Whole-Time Directors of the Bank have allotted 6,55,278 equity shares of Rs. 10/- each on 24th March, 2010 to the employees of the Bank, under ESOP.

The paid up share capital of the Bank will accordingly get increased from 40,36,32,764 equity shares as on 31st December, 2009 to 40,51,74,119 equity shares as on 24th March, 2010.

Further, please note that the Bank had allotted total 3,36,613 equity shares during the month of January, 2010 and 5,49,464 equity shares during the month of February, 2010.

You are requested to take the above on record.