Reliance MF launches long term equity fund

Mumbai, November 22, 2006: Reliance Mutual Fund, one of India's leading Mutual Funds, has launched a new long term close-ended diversified equity fund.

The new fund "� Reliance Long Term Equity Fund (RLTEF) - is a 36 month, close-ended diversified equity fund with an automatic conversion into an open ended scheme at the end of the 36 months from the date of allotment.

RLTEF will invest in select small and mid-cap stocks which have the potential to grow and deliver attractive returns. The NFO would be open till December 11th, 2006.

"Given the robust growth displayed by the Indian economy; small and mid-cap companies have the potential to transform into large caps in the coming years. RLTEF endeavors to offer attractive growth potential to investors who have a long term horizon. This new offering is bound to strengthen our leadership status in the equity space." said Vikrant Gugnani, President, Reliance Mutual Fund.

With an investor base of over 2.3 million, RMF manages a corpus of Rs. 31,572 crore that includes equity funds of Rs 14,600 crore- the largest equity AUM in the private sector (as on October 31,2006. (Source: www.amfiindia.com)

Reliance Mutual Fund, a part of the Reliance - Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. It offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 96 cities across the country.Reliance Mutual Fund constantly endeavors to launch innovative products and customer service initiatives to increase value to investors.

Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Ltd., a wholly owned subsidiary of Reliance Capital Ltd.

Reliance Capital Ltd. is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth.

Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services.

Source "� www.amfiindia.com, www.mutualfundsindia.com