Mumbai, January 19, 2002

ICICI's Board to Consider Interim Dividend

ICICI Limited (NYSE: IC) has already intimated the stock exchanges that the Board of Directors of ICICI, at its forthcoming Meeting to be held on January 24, 2002, at Mumbai, will consider the audited financial results for the nine months ended December 31, 2001.

It has now been decided that the Board of Directors of ICICI will also consider payment of interim dividend to equity shareholders.

For further press queries please contact:
ICICI: Mr Charudatta Deshpande
Head Corporate Communications,
Tel: 022-26538208
Fax: 022 26531116
email: charudatta.deshpande@icicibank.com