Re Joint Venture

The Executive Director

The BSE Ltd. 24.12.2012

Phiroze Jeejeebhoy Tower,

25th Floor, Dalal Street, CC/S&B/VKJ/1955

Mumbai - 400001

Dear Sir/Madam,

LISTING AGREEMENT: CLAUSE 36

JOINT VENTURE WITH RUSSIAN DIRECT INVESTMENT FUND

In terms of Clause 36 of the Listing Agreement, we advise that State Bank of India, on 24th December 2012, signed a Preliminary Non-Binding Memorandum of Understanding with Russian Direct Investment Fund (RDIF), to facilitate advancing bilateral economic cooperation and trade between Russia and India aimed at exploring investment opportunities in both the countries. The modalities of the Joint Venture are expected to be further discussed and finalised between the parties in due course. The fund will be operationalised on receipt of requisite regulatory approvals.

Yours faithfully,

… sd …

General Manager