V. Vaidyanathan is ICICI Prudential Life's new MD & CEO

ICICI Prudential Life has appointed Mr. V. Vaidyanathan as the Managing Director & Chief Executive Officer of the company with effect from May 01, 2009. He replaces Ms. Shikha Sharma in this position. Mr. Vaidyanathan was earlier an Executive Director with ICICI Bank and brings with him nearly two decades of experience in the financial services domain. He was also the chairman of ICICI Home Finance Company, and has served on the boards of ICICI Lombard General Insurance, and CIBIL, India’s first credit bureau.

Since joining the ICICI Group in the year 2000, he has built a strong retail banking business which includes 1400 ICICI bank branches in 800 cities, 25 million customers, USD 30 bn in assets, a strong liability base, and a team of 26000 employees. His contribution has been well recognised in the ICICI Group and won him many awards in the banking industry. He was recently profiled among ‘India's Top 25 executives’ by a leading business magazine in India. Mr. Vaidyanathan is an alumnus of Birla Institute of Technology and Harvard Business School, AMP.

About ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For FY09, the company garnered Rs. 15,356 crores of total premiums and has underwritten over 9 million policies since inception. The company has a network of 2,099 offices and 272,920 advisors. For the past eight years, ICICI Prudential has maintained its dominant position amongst life insurers in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life. To know more about the company, please visit www.iciciprulife.com.

Except for the historical information contained herein, statements in this release which contain words or phrases such as “will”, “would”, “aim”, “will likely result”, “believe”, ”expect”, “will continue”, “anticipate”, ‘”estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objectives”, “goals”, “project”, “should”, “will pursue”, and similar expressions or variations of such expressions may constitute “forward looking statements”. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to ICICI Prudential’s ability to successfully implement its strategy in the field of insurance, our growth and expansion, technological changes, investment income, cash flow projections, our exposure to market risks as well as the other risks detailed in the reports filed by ICICI Bank (joint promoters of ICICI-Prudential Life Insurance Company Limited) with the Securities and Exchange Commission of the United States. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.