Dated: January 31, 2005
Circular No. 28/2004-05

Dear Sir,

Sub: DEMAT ACCOUNTS-NEW PRICE STRUCTURE

This is for the kind information that:-

1. New price structure has been designed for all the New Demat Accounts opened w.e.f. 01st February 2005.

2. Further for the existing Demat Accounts also, the new price structure shall applicable w.e.f. 01st April 2005.

Kindly note that all the other schemes EXCEPT otherwise mentioned in the new price structure stand WITHDRAWN w.e.f 01st February 2005. The following schemes are being withdrawn:

1.Cost Free Scheme
2.Trader Scheme
3.Security Deposit Scheme
4.Premium Scheme, and
5.Gold Scheme

Secondly, in case any investors has not opted for ECS mandate, account holder is required to pay an advance deposit equivalent to one year AMC as per the scheme opted and this amount will be refunded only at the time of closing of demat account.

No new demat account should be opened for the schemes EXCEPT those mentioned in the new price structure after fulfilling all the necessary conditions like ECS debit mandate etc.

In case of any clarifications contact Ms. Preeti Aggarwal at 42390717,
e-mail: preeti@abhipra.com