RAISES SENIOR NOTES IN THE INTERNATIONAL MARKET

Axis Bank - US$250 million Reg S only tap of Existing 5.125%

Senior Unsecured Notes due 2017

We have to advise that the Board of Directors of the Bank has today passed a resolution approving the allotment of Senior Notes aggregating to USD 250,000,000 (USD Two Hundred Fifty Million only) under the MTN programme through its DIFC Dubai branch. The Notes will be listed at the Singapore Stock Exchange.

The Notes have been priced at 390 basis points over the 5-year US Treasury Note, at a price of 101.835 and a yield of 4.710%. The Notes are denominated in US dollars, and will bear fixed interest of 5.125% per annum, with interest payable semi-annually in arrears. The Notes are immediately fungible with the existing Reg S tranche, taking the outstanding issue size to a total of US$750 million. The Bank will apply the net proceeds to fund its operations overseas.