Fidelity Fund Management Enters Into a Distribution Tie Up with Federal Bank

Fidelity Fund Management has entered into an agreement with Federal Bank, one of India's premier private sector banks, for the distribution of its products. Mr. M. Venugopalan, Chairman, Federal Bank, and Ms. Ashu Suyash, Managing Director and Country Head, Fidelity Fund Management, announced the distribution tie-up at a press conference today. Fidelity Fund Management's entire suite of mutual funds will now be available at more than 600 branches of Federal Bank throughout the country.

Speaking on the occasion, Mr. M. Venugopalan, Chairman, Federal Bank, said, "With this partnership our customers will have easier access to Fidelity's range of funds. This is another step towards offering our customers holistic financial solutions of Fidelity Fund's mutual funds for retail investors to participate in the equity markets."

Ms. Suyash added, "We are delighted with our distribution tie-up with Federal Bank and look forward to partnering them as our funds become available at their branches across India. Distribution holds the key to the growth of the Indian mutual fund industry and we believe that banks, with their extensive branch networks and close relationships with customers, have a key role to play in popularising mutual funds as a preferred investment option."

About Federal Bank Limited

Federal Bank is a leading private sector Bank in the country with a network of more than 600 branches and 535 ATMs. The Bank also has distribution tie-ups with Birla Sun Life MF, DBS Cholamandalam MF, DSP Merrill Lynch MF, Franklin Templeton MF, HDFC MF, HSBC MF, ICICI Prudential MF, Kotak Mahindra MF, Reliance MF, SBI MF, Sundaram BNP Paribas MF, Tata MF & UTI MF, to distribute their products through its selected branches all over India. Recently Federal Bank was awarded the 'Best Core Banking Project Award 2007' by Asian Banker for a project involving the replacement of a Core banking System.

About Fidelity Fund Management

Fidelity Fund Management Private Limited started operations in the country in 2004. Its first fund, the Fidelity Equity Fund, was launched in March 2005. Today, with total assets under management of over Rs.8000 crores (Source: AMFI as at March 31, 2008) and more than 1.5 million customer accounts, Fidelity offers Indian investors investment options through its five equity funds and four fixed income funds.