May 7, 2013

Press Release No. 1

News about The Karnataka Bank Limited and Kotak Mahindra Bank Limited

The media had reports that The Karnataka Bank Limited may be taken over by Kotak Mahindra Bank Limited.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the companies.

The Karnataka Bank Limited has vide its letter inter-alia stated, "We deny merger rumour with any bank as reported in media."

Kotak Mahindra Bank Limited has vide its letter inter-alia stated, "As indicated in the news article, we deny the rumour."