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 has allotted 2,11,097 equity shares of Rs. 10/- each on 17th December, 2010 to the employees of the Bank, under ESOP.

The paid up share capital of the Bank will accordingly get increased to 40,99,00,520 equity shares from 40,88,41,213 equity shares as on 30th September, 2010.

Further, please note that the Bank had allotted total 5,24,762 equity shares during the month of October, 2010 and 3,23,448 equity shares during the month of November, 2010 to the employees of the Bank, under ESOP.