MERCHANT ACQUIRING BUSINESS

TO: RNS

The Executive Director, 04.05.2010 Bombay Stock Exchange Ltd.,

Listing Department, CO/S&B/VKJ/ 268

Phiroze Jeejeebhoy Tower,

25th Floor, Dalal Street,

Mumbai- 400 001

LISTING AGREEMENT MERCHANT ACQUIRING BUSINESS

In terms of Clause 36 of the Listing Agreement, we advise that the Bank has selected consortium of Elavon Incorporation, USA and Visa International, USA as its Joint Venture (JV) Partner for Merchant Acquiring Business. The terms of arrangement are being worked out. RBI has already approved the setting up of a Wholly Owned Subsidiary for conducting Merchant Acquiring Business by SBI in the name of SBI Payment Services Private Limited.

 (M.M.Pathak) General Manager