assets under management rs. 50,742.07 crore (as on may 31

Assets Under Management Rs. 50,742.07 Crore (As on May 31, 2007)

3

O v e r v i e w

Nilesh ShahChief Investment Officer

Fixed Income Market SnapshotImpact on Interest Rates

FACTORS Short Term Medium Term(1-3 Months) (3-6 Months)

Inflation NEUTRAL NEUTRAL

WPI-based inflation eased around the RBI's FY08 target rate of 5% mark to 5.06% ason May 19, 2007, due to a high base effect and fall in primary food articles' prices.These coupled with the impact of govt's fiscal and monetary measures (viz. duty cutsand interest rate hikes) seem to be weighing down inflation. The govt. reiterated itscommitment to bringing down inflation to 5%. It has not ruled out any further fiscaland monetary measures while it continues to monitor economic data.

Money Supply NEGATIVE NEGATIVE

M3 grew 20% YoY as on June 1, 2007, still higher than RBI's forecast of 17-17.5%. Thegovt admitted to the challenge posed by excessive foreign exchange inflows through ECB/FDI/FII route in managing money supply, while RBI confessed to limited open market interventionsin the view of rupee appreciation. Liquidity remained adequate due to limited MSS auctionsand forex interventions, resumption of government spending and inflows by way of couponpayments and bond redemptions. This caused the overnight borrowing rates to dip as lowas 0.50%. Advance tax outflows will flush out some liquidity in June, however, foreigncurrency inflows into some large IPOs could trigger RBI intervention injecting fresh liquidity intothe system.. In such a situation, further MSS issuances or a CRR hike is not ruled out.

Credit Demand NEGATIVE NEGATIVE

Non-food credit growth continued unabated at 27% YoY as on June 1, 2007, withthe credit-deposit ratio still high at 72%. Having said that, the incremental CD ratiodropped to 40% YoY, as opposed to 100% YoY during the same time last year. Thiscould be a signal of some moderation in credit growth. RBI would like to see thecredit growth moderate to 24-25% in FY08.

Government Borrowings NEUTRAL NEUTRAL

In comparison with the borrowing calendar for Q1FY08, scheduled governmentborrowings will decrease going forward. Though RBI has been issuing MSS lately,adding to the SLR supply, we expect to see a cut in SLR in the later part of the year tomake up for the demand-supply mismatch.

Foreign Exchange Market POSITIVE NEUTRAL

India's forex reserves were at a robust $205 bn as on May 25, 2007. Rupee continued tostrengthen to touch a high of Rs.40.20/$ mark during the month, on the back of largecapital inflows, despite USD's bounce-back vis-à-vis other major currencies. RBI's comfort hasbeen tested recently and unlike the previous month, RBI intervened in the currency marketsbuying dollars to support the level of 40.50.

RBI Policy NEGATIVE NEGATIVE

The central bank has maintained in its review of the monetary policy that liquiditymanagement would be a priority, to contain inflation. Market participants are henceanticipating RBI action by way of another hike in the CRR or increase the use of MSSfor sucking out excess cash and force a slowdown in credit growth. Issuing fresh MSSis an additional burden on the Government Fiscal kitty, whereas a CRR hike adds to theburden of the banking system. We expect the Central Bank's liquidity managementpolicy to strike a balance between the two measures.

Market Sentiment NEGATIVE NEUTRAL

10-year benchmark G-Sec yields softened due to a surge in liquidity and a decliningtrend in inflation, leading to a sentiment reversal. Reduction in MSS auctions alsoboosted market sentiment. However, cautiousness persisted due to apprehensionover CRR hike.

OUTLOOK

We expect RBI to watch economic data in order to assess how recent rate hikeshave influenced the credit growth, inflation and money supply growth over asustained period. The market seems to be divided on the likelihood of furtherCRR hike due to comfortable liquidity. Future rate hikes cannot be completelyruled out, considering an aggressive stance taken by RBI as regards inflation,although the timing may not be exactly predictable.

We expect interest rates to be range bound with upward bias in 1HFY08. Webelieve that fixed maturity products provide the best opportunity today interms of risk-reward ratio. We recommend investors to consider Fixed MaturityPlans (FMPs)/Interval Funds in their debt portfolio.

FACTORSFundamentalsGrowth in India's Index of Industrial Production (IIP) beat expectations by showing a rise of12.9% YoY in March (8.9%YoY for Mar'06), the aggregate growth for FY07 amounting to11.3% (8.2% in FY06), boosted by double-digit growth in 10 out of 17 industry groups in FY07.The core industries grew 10% YoY in March (7.1% in Mar'06), with FY07 growth at 8.6%(6.2% in FY06) due to an increase in steel and refining output, while cement productionremained subdued. These macro numbers put together underline the strong fundamentals.Due to revision in the numbers for the earlier quarters, full year GDP for FY 07 grew by 9.4%p.a. , exceeding the projections of 9.2% made earlier surpassing all previous annual growthrates, except for 1988-89 when it expanded by 10.5%. Manufacturing (12.3%) and services(11.2%) drove the surge, while farm growth actually slackened, as compared to FY06.Economic growth, however, slowed down to 9.1% in the fourth quarter of FY '07 against 10%in the same quarter of the previous fiscal showing signs of moderation as a result of tighteningaction taken by the Central Bank. India's export growth was encouraging in Apr'07 (23% YoY)despite the appreciation in rupee. Higher imports (41%YoY), reflecting greater investment andindustrial activity, caused the trade deficit to widen to $7bn.Technicals

Equity Market Snapshot

Market SentimentsThe benchmark index Sensex rallied to gain 4.85% for the month on account of strongglobal markets and sustained FII inflows as concerns regarding sustainability of growthmomentum and RBI's further tightening measures were alleviated due to robust economicdata and declining trend in inflation. A reversal of sentiment was apparent after decentearnings performance in Q4FY07 and optimistic outlook on various M&A announcements.However, volatility persisted due to cautiousness at higher index levels. IT stocks continuedto underperform due to the rupee appreciation, while banking sector spurted due to betterthan expected SBI results, passing of SBI (Subsidiary Bank Laws) Amendment Bill 2006 andRBI guidelines on trading of credit default swaps. Metals underperformed due to a fall incopper prices on LME. The market sentiment was cautious with the announcement of twinlarge IPOs of DLF and ICICI Bank, expected to raise in approx. Rs.30000 crore. Both FIIs andMFs remain optimistic on expectation of strong corporate performance and underlyingstrength in the Indian economy. FIIs followed up their $1.4bn purchase of Indian equity inApril '07 with another $1.1bn buying in May '07.

Global EventsUS treasuries fell in response to economic reports and Fed's reiteration of risks to inflationsuggesting that it could be on hold for longer than was initially anticipated. Even thoughQ1CY08 GDP was revised downwards to 0.6% as against 1.3% earlier, other data signaledthat US economy could be rebounding without fueling inflation. This was in line with FOMCopinion that growth could pick up in the coming quarter. In a bid to prevent economicoverheating, PBoC hiked lending rate by 18bps and deposit rate by 27 bps to 6.57% and3.06% resp. Reserve requirement was hiked by another 50bps to 11.5% and Yuan tradingband was widened from 0.3% to 0.5%. Market experts and Chinese govt have beenwarning of a looming correction in the Chinese markets, due to steep valuations (ShanghaiComposite trades at 42x). Chinese market decline was triggered by the announcement oftripling of stamp duty on securities trades, aimed at deterring investors in view of stockmarkets' overheating. Crude continued to remain rangebound due to worries over enoughgasoline supplies for the summer. BoE raised interest rate to 5.5%, amid strong economicgrowth. ECB kept the refinancing rate at 3.75 percent, as it pledged "strong vigilance'',flagging a rate move in June.

OUTLOOKThe bull run in the past four years has captured the undervaluation of equities, whichhas resulted in exponential gains during this period. There have been apprehensionsabout valuations running ahead of fundamentals, but that does not mean that theupcycle has fizzled out. With markets fairly valued currently, investors need tomoderate their expectations. Long term, we believe the uptrend may continue giventhe prospects of corporates delivering above average earnings. Hence, the premiumvaluations are not completely out of place. With the results season over, the marketmay be rangebound in the near term as it seeks to consolidate its gains, assess theimpact of interest rate hikes on future profit growth. Fresh supply of Rs. 30000 croresin the equity markets through the IPOs of DLF and ICICI Bank could dampen themarket as it will take time to absorb this huge supply. The unfolding of the monsoonscenario could also impact the market momentum. Having said that, analysts reckonthat with the inflation coming off to around 5% levels, the pressure on RBI seems tohave eased considerably. The market has so far shrugged off the fears of the rippleeffect of Chinese market slump in the region. However, considering the extent of

Investments by Institutions Apr-07 May-07in cash market (Rs. Crs.)FIIs (Net Purchases / Sales) 5533 4572MFs (Net Purchases / Sales) 1034 1891Avg Daily Open Interest(Rs. Cr.)

Index Futures 14112 13919

Stock Futures 22309 26445

Index Options 12345 12862

Stock Options 1788 2937

Total 50554 56163

Valuation Ratios Mar-07 Apr-07P/E ratio- Sensex 19.48 21.05P/E ratio- Nifty 20.71 20.41Price/Book Value Ratio-Sensex 5.33 4.88Price/Book Value Ratio-Nifty 5.09 5.59Dividend Yield-Sensex 1.15 1.13Dividend Yield-Nifty 1.17 1.10

Avg Daily Volumes (Rs. Cr.)

CASH SegmentBSE 3796 4536NSE 8428 9885Total 12224 14421Derivative SegmentNSE 30814 34049Avg Advance Decline RatioBSE 1.56 1.08NSE 1.48 1

Indices Movement % change % changeFeb 06-Mar06 Mar 07-Apr 07

Sensex 6.12 4.85Nifty 6.96 5.09BSE Healthcare 1.48 3.75BSE Auto 2.67 0.26BSE Consumer Durables 3.25 13.81BSE FMCG 3.57 5.89Bankex 5.21 10.52BSE Teck Index 5.55 -0.51BSE PSU 8.14 5.25BSE Capital Goods 8.87 12.89BSE Oil & Gas 11.15 9.26BSE Metals 15.88 5.80BSE Mid Cap 7.65 7.35BSE Small Cap 8.08 5.99

India remains a compelling investment proposition....

The Market

4

MARKET CHEAP ATTRACTIVE FAIR

FAIR

VALUE

PLUS

STRETCHED BUBBLE

Exit Neutral Neutral -

5%-10%

EQUITY

ALLOCATION

Under Invested

70%-80% 55%-65% 50% 35%-45% 15%-25%

Over Invested Neutral +

Suggested Equity Allocation (Assuming 50% equity allocation as neutral)

ICICI Prudential Fusion Fund-Series IIDiversified Fund (Close - Ended)

Snapshot:Fund Manager : Anand ShahIndicative Investment Horizon: 3 yrs and moreInception date: 31-03-2007Fund Size: Rs. 1,125.69 crores***NAV (As on 30-May-2007):

Growth option : Rs. 10.78Dividend option : Rs. 10.78

**Expense Ratio (2 Months avg. Apr 07-May 07):Retail option : 2.03%Institutional option-I : 1.21%

**This is a close approximation of the number.

*** NAV is declared on a weekly basis.

Style Box

Style Value Blend Growth Size

Large

Mid

Small

Figures as on 31-May-2007

WHY SHOULD ONE INVEST?Exploit the long-term investment potential

in small & mid-cap segment

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVAuto Ancillaries 3,718.43 3.31%Kesoram Industries Ltd 2,553.14 2.27%Exide Industries Ltd 1,165.29 1.04%Banks 9,032.71 8.03%

• Punjab National Bank Ltd 3,778.81 3.36%HDFC Bank Ltd 2,869.00 2.55%Federal Bank Ltd 1,465.75 1.30%ICICI Bank Ltd 919.15 0.82%Cement 3,217.00 2.86%

• Birla Corporation Ltd 3,217.00 2.86%Construction 3,162.55 2.81%Jai Prakash Associates Ltd 1,711.46 1.52%Nagarjuna Construction Company Ltd 1,451.09 1.29%Consumer Non-Durable 436.92 0.39%Pidilite Industries Ltd 436.92 0.39%Ferrous Metals 7,943.92 7.06%

• Steel Authority of India Ltd 3,507.50 3.12%Usha Martin Ltd 2,846.44 2.53%Ratnamani Metals & Tubes Ltd 1,589.98 1.41%Fertilizers 1,485.00 1.32%Coromandel Fertilisers Ltd 1,485.00 1.32%Finance 2,337.00 2.08%Industrial Development Finance Corporation Ltd 2,337.00 2.08%Industrial Products 5,549.20 4.93%AIA Engineering Ltd 3,062.90 2.72%Kirloskar Oil Engines Ltd 1,373.25 1.22%Esab India Ltd 1,113.05 0.99%Media & Entertainment 11,935.83 10.61%

• Deccan Chronicle Holdings Ltd 3,980.50 3.54%• Zee Entertainment Enterprises Ltd 3,612.48 3.21%

HT Media Ltd 1,767.93 1.57%Television Eighteen India Ltd. 1,337.71 1.19%Entertainment Network India Ltd 1,237.21 1.10%Non-Ferrous Metals 3,265.80 2.90%

• Sterlite Industries (India) Ltd 3,265.80 2.90%Oil 2,867.00 2.55%Cairn India Ltd 2,867.00 2.55%Petroleum Products 3,517.60 3.12%

• Reliance Industries Ltd 3,517.60 3.12%Pharmaceuticals 2,345.66 2.08%Dishman Pharmaceuticals & Chemicals Ltd 2,345.66 2.08%Retailing 2,370.50 2.11%Pantaloon Retail (India) Ltd 2,370.50 2.11%Software 11,949.62 10.62%

• Sasken Communications Technologies Ltd 3,687.98 3.28%• Tata Consultancy Services Ltd 3,081.29 2.74%

Mphasis BFL Software Ltd 2,636.65 2.34%Infosys Technologies Ltd 1,923.50 1.71%3i Infotech Ltd 620.20 0.55%Telecom Services 3,397.00 3.02%

• Bharti Airtel Ltd 3,397.00 3.02%Textiles - Cotton 1,412.62 1.25%Vardhaman Textiles Ltd 1,412.62 1.25%Textiles - Products 1,401.50 1.25%Aditya Birla Nuvo Ltd 1,401.50 1.25%CPs, CDs and Term Deposits 13,268.13 11.79%ICICI Bank Ltd 7,811.00 6.94%Tata Power Company Ltd 3,687.92 3.28%Kotak Mahindra Bank Ltd 982.85 0.87%UTI Bank Ltd 786.36 0.70%Cash, Call, CBLO & Reverse Repo 12,138.27 10.78%Other Current Assets 5,816.61 5.13%

Total Net Assets 112,568.87 100.00%• Top Ten Holdings

Valuation levels of the Sensex based on FY08 earnings estimate of Rs.830

Quantitative Indicators:

Average P/E : 19Average P/BV : 4.04Average Dividend Yield: 0.7Annual Portfolio Turnover Ratio: 0.80 timesPortfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have notcompleted a year). The figures are not netted for derivative transactions.

740084009400

104001140012400134001440015400

2-Ja

n-06

21-J

an-0

69-

Feb-

0628

-Feb

-06

19-M

ar-0

67-

Apr-

0626

-Apr

-06

15-M

ay-0

63-

Jun-

0622

-Jun

-06

11-J

ul-0

630

-Jul

-06

18-A

ug-0

66-

Sep-

0625

-Sep

-06

14-O

ct-0

62-

Nov

-06

21-N

ov-0

610

-Dec

-06

29-D

ec-0

617

-Jan

-07

5-Fe

b-07

24-F

eb-0

715

-Mar

-07

3-Ap

r-07

22-A

pr-0

711

-May

-07

30-M

ay-0

7

CHEAP 9X -10X

ATTRACTIVE 11X -12X

FAIR 13X -16X

FAIR VALUE PLUS 17X -18X

STRETCHED 19X -20X

integration of global markets, volatility on account of unforeseen global eventscannot be ruled out. Therefore our recommendation to investors is as follows;• In a fair value market, maintain a neutral allocation towards equities.• Do not try to time the market, as the high short-term volatility cannot be ruled out.• Asset allocation and Systematic Investment Plans are the best way to safeguard against

volatility. They ensure optimal returns and not the maximum return in volatile markets.

• Investors should look at a mix of large and mid cap funds for 3-5 years horizon onsystematic investment basis.

Asset Allocation GuideThis asset allocation guide helps you to determine the suggested equity exposure atdifferent valuations levels based on the Sensex.

Performance Record *- Growth Option

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX NftyIndex. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

*Pertains to the equity investments only.

Sector Allocation*

7.80%

11.20%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%18.00%

Since Inception

Fusion Fund - Series II S&P CNX Nifty

10.62%10.61%

8.03%7.06%

4.93%3.31%

3.12%3.02%2.90%2.86%2.81%

2.55%2.11%2.08%2.08%

1.32%1.25%1.25%

0.39%

0.00% 4.00% 8.00% 12.00%

SoftwareMedia & Entertainment

BanksFerrous Metals

Industrial ProductsAuto Ancillaries

Petroleum ProductsTelecom Services

Non-Ferrous MetalsCement

ConstructionOil

RetailingPharmaceuticals

FinanceFertilizers

Textiles - ProductsTextiles - Cotton

Consumer Non-Durable

5

SIP Returns: As on 31-May-2007

Period SIP Start Date Total Amount Total No. Market Value SIPInvested of Units Returns

1 Year SIP 30-Jun-06 12,000.00 202.74 14,185.47 42.43%3 Year SIP 30-Jun-04 36,000.00 1,028.66 71,974.11 53.49%Since Inception 31-Oct-02 56,000.00 2,457.97 171,981.21 52.38%

Fund Manager's Comment

The fund maintained an equity exposure at 84% during the month, indicating a cautious stance. Thefund has taken fresh exposure to Hotels. The fund booked profits in Banks (SBI), Industrial Capital Goods(BHEL), while exposure to Pharmaceuticals (Dr. Reddy, Cipla, Sun Pharma) was enhanced.

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002, 2004 & 2006.

Quantitative Indicators:Average P/E : 18Average P/BV : 3.98Average Dividend Yield : 1.29Annual Portfolio Turnover Ratio : 2.52 times

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVSnapshot:

Fund Manager : Sankaran NarenIndicative Investment Horizon: 3 yrs & moreInception date: 31-10-2002Fund Size: Rs. 2,341.46 croresNAV (As on 31-May-2007):


**Expense Ratio (6 Months avg. Dec 06-May 07):Retail option : 1.90%Institutional option-I : 1.00%


WHY SHOULD ONE INVEST?Medium term investment of funds for capital appreciation

by managing cash and equity portfolio

Auto 5,374.06 2.30%Mahindra & Mahindra Ltd 3,787.25 1.62%Maruti Udyog Ltd 1,586.81 0.68%Auto Ancillaries 1,382.54 0.59%Sundaram Clayton Ltd 1,382.54 0.59%Banks 24,473.73 10.45%

• ICICI Bank Ltd 7,915.26 3.38%• HDFC Bank Ltd 5,738.00 2.45%

Federal Bank Ltd 5,599.83 2.39%State Bank of India Ltd 3,458.58 1.48%Punjab National Bank Ltd 1,762.06 0.75%Cement 4,930.05 2.11%Orient Paper & Industries Ltd 2,410.70 1.03%Grasim Industries Ltd 2,054.85 0.88%Hyderabad Industries Ltd 464.50 0.20%Construction 736.90 0.31%Patel Engineering Ltd 736.90 0.31%Consumer Non-Durable 9,899.03 4.22%

• ITC Limited 7,761.11 3.31%E.I.D. Parry (India) Ltd 2,137.92 0.91%Ferrous Metals 16,162.57 6.90%

• Tata Steel Ltd 10,114.40 4.32%Steel Authority of India Ltd 4,662.92 1.99%Mukand Ltd 1,385.25 0.59%Fertilizers 1,856.25 0.79%Coromandel Fertilisers Ltd 1,856.25 0.79%Hotels 2,347.04 1.00%Indian Hotels Company Ltd 2,347.04 1.00%Industrial Capital Goods 3,349.32 1.43%Texmaco Ltd 3,349.32 1.43%Industrial Products 12,330.55 5.27%Jain Irrigation Systems Ltd 3,862.40 1.65%Greaves Cotton Limited 3,321.25 1.42%AIA Engineering Ltd 3,062.90 1.31%Sterlite Optical Technologies Ltd 2,084.00 0.89%Media & Entertainment 14,344.75 6.13%

• Deccan Chronicle Holdings Ltd 11,208.25 4.79%Zee Entertainment Enterprises Ltd 3,136.50 1.34%Non-Ferrous Metals 2,225.66 0.95%Sterlite Industries (India) Ltd 2,225.66 0.95%Oil 14,441.17 6.17%

• Oil & Natural Gas Company Ltd 14,441.17 6.17%Petroleum Products 17,590.64 7.51%

• Reliance Industries Ltd 17,590.64 7.51%Pharmaceuticals 12,327.98 5.26%Cadila Healthcare Ltd 3,724.60 1.59%Alembic Ltd 2,880.00 1.23%Novartis India Ltd 2,165.10 0.92%Dr. Reddy’s Laboratories Ltd 1,663.18 0.71%Cipla Ltd 1,559.12 0.67%Sun Pharmaceuticals Limited 335.98 0.14%Power 7,652.45 3.27%

• National Thermal Power Corporation Ltd 7,652.45 3.27%Software 37,103.72 15.84%

• Tata Consultancy Services Ltd 16,420.27 7.01%• Infosys Technologies Ltd 15,388.00 6.57%

Subex Azure Ltd 2,723.85 1.16%Mastek Ltd 1,289.64 0.55%HCL Technologies Ltd 1,281.96 0.55%Telecom Services 3,104.01 1.33%Bharti Airtel Ltd 3,104.01 1.33%Transportation 5,138.21 2.19%Containers Corporation of India Ltd 5,138.21 2.19%CPs, CDs and Term Deposits 30,192.59 12.90%ICICI Bank Ltd 17,761.00 7.59%Kotak Mahindra Bank Ltd 5,852.88 2.50%UTI Bank Ltd 4,816.45 2.06%Allahabad Bank Ltd 850.00 0.36%GE Capital Services India Ltd 812.26 0.35%UTI Bank Ltd 100.00 0.04%Cash, Call, CBLO & Reverse Repo 12,473.37 5.33%Other Current Assets (5,290.16) -2.25%Total Net Assets 234,146.43 100.00%

• Top Ten Holdings

Performance Record *- Cumulative Option

Rs. 10000 invested at inception: Dynamic Plan Vs S&P CNX Nifty

CAGR – Dynamic Plan: 52.87%; Benchmark: 38.94%Past performance may or may not be sustained in future.

Sector Allocation*

Style Box

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.



Portfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have notcompleted a year). The figures are not netted for derivative transactions.^ Risk-free rate based on the last 3 month T-Bill cut-off.

Std Dev : 6.54%Sharpe Ratio^ : 0.56Portfolio Beta : 1.00R squared : 0.73

ICICI Prudential Dynamic PlanDiversified Fund

12.32%

38.75%

61.06%52.87%

8.63%

39.88% 42.53% 38.94%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%

Last6 Months

Last1 years

Last3 years

SinceInception

Dynamic Plan S&P CNX Nifty

Rs 69968.80

Rs 45152.41

9,665

19,665

29,665

39,665

49,665

59,665

69,665

79,665

Oct-0

2Ja

n-03

Apr-0

3Ju

l-03

Oct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct-0

4Ja

n-05

Apr-0

5Ju

l-05

Oct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct-0

6Ja

n-07

Apr-0

7

Dynamic Plan S&P CNX Nifty

15.84%

10.45%

7.51%6.90%

6.17%

6.13%

5.27%

5.26%

4.22%

3.27%2.30%

2.19%

2.11%

1.43%

1.33%

1.00%0.95%

0.79%

0.59%

0.31%

0.00% 5.00% 10.00% 15.00% 20.00%

Software

Banks

Petroleum ProductsFerrous Metals

Oil

Media & Entertainment

Industrial Products

Pharmaceuticals


PowerAuto

Transportation

Cement

Industrial Capital

Telecom Services

Hotels

Non-Ferrous MetalsFertilizers

Auto Ancillaries

Construction

6



1 Year SIP 30-Jun-06 12,000.00 159.36 14,214.91 43.04%3 Year SIP 30-Jun-04 36,000.00 755.56 67,395.95 47.86%5 Year SIP 28-Jun-02 60,000.00 2,196.82 195,956.34 50.94%Since Inception 1-Oct-94 153,000.00 11,992.11 1,069,696.21 27.94%


The fund maintained an equity exposure of 94% during the month including~2.75% exposure to Nifty Futures. The fund has reduced exposure to FerrousMetals (Usha Martin) by booking profits. Exposure to Banks (HDFC Bank), Oil(Cairn India) and Petroleum Product has increased.

ICICI Prudential PowerDiversified Fund

Snapshot:

Fund Manager : Anand ShahIndicative Investment Horizon: 5 yrs & moreInception date: 01-10-1994Fund Size: Rs. 1,558.24 croresNAV (As on 31-May-2007):

Cumulative option: Rs. 89.20Dividend option : Rs. 21.77

**Expense Ratio (6 Months avg. Dec 06-May 07):Retail option : 2.03%Institutional option- I : 1.00%


WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation

in a concentrated multi sector portfolio

Performance Record* - Cumulative Option

Rs. 10000 invested at inception: Power Plan Vs S&P CNX Nifty

CAGR – Power:18.85%; Benchmark: 9.96%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNXNifty. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.


Average P/E : 21Average P/BV : 4.59Average Dividend Yield : 0.79Annual Portfolio Turnover Ratio : 1.93 times

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box




Auto 3,089.46 1.98%Maruti Udyog Ltd 3,089.46 1.98%Auto Ancillaries 2,314.48 1.49%Amtek Auto Ltd 2,314.48 1.49%Banks 18,639.27 11.96%

• Punjab National Bank Ltd 7,046.96 4.52%• ICICI Bank Ltd 6,151.41 3.95%

HDFC Bank Ltd 3,442.80 2.21%Andhra Bank Ltd 1,998.10 1.28%Cement 6,443.83 4.13%

• Grasim Industries Ltd 4,599.93 2.95%JK Cements Ltd 1,843.90 1.18%Construction 3,008.03 1.93%Jai Prakash Associates Ltd 3,008.03 1.93%Ferrous Metals 10,808.70 6.94%

• Steel Authority of India Ltd 6,383.65 4.10%Tata Steel Ltd 4,425.05 2.84%Industrial Capital Goods 15,393.65 9.87%

• Bharat Heavy Electricals Ltd 4,896.85 3.14%Siemens India Ltd 4,026.02 2.58%Thermax Ltd 3,759.75 2.41%Bharat Electonics Ltd 2,711.03 1.74%Industrial Products 5,205.22 3.34%AIA Engineering Ltd 3,062.90 1.97%Jain Irrigation Systems Ltd 2,142.32 1.37%Media & Entertainment 17,175.65 11.03%

• Zee Entertainment Enterprises Ltd 6,586.65 4.23%Deccan Chronicle Holdings Ltd 4,190.00 2.69%HT Media Ltd 3,628.05 2.33%Global Broadcast News Ltd 2,770.95 1.78%Oil 2,867.00 1.84%Cairn India Ltd 2,867.00 1.84%Petroleum Products 10,904.56 7.00%

• Reliance Industries Ltd 10,904.56 7.00%Pharmaceuticals 10,451.28 6.71%Sun Pharmaceuticals Limited 3,156.11 2.03%Ipca Laboratories Ltd 2,816.99 1.81%Ranbaxy Laboratories Ltd 2,260.40 1.45%Plethico Pharmaceuticals Ltd 1,835.33 1.18%Sun Pharmaceuticals Limited-Futures 284.19 0.18%Sun Pharma Advanced Research Co. Ltd 98.26 0.06%Software 16,445.42 10.56%

• Infosys Technologies Ltd 5,971.58 3.83%• Tata Consultancy Services Ltd 5,467.78 3.51%

Wipro Ltd 2,691.32 1.73%HCL Technologies Ltd 2,314.74 1.49%Telecom Services 10,403.31 6.68%

• Bharti Airtel Ltd 10,403.31 6.68%Textiles - Products 5,149.65 3.30%Aditya Birla Nuvo Ltd 3,543.47 2.27%Gokaldas Exports Ltd 1,606.18 1.03%Transportation 3,673.37 2.36%Containers Corporation of India Ltd 3,673.37 2.36%Nifty Futures 4,276.65 2.74%CPs, CDs and Term Deposits 7,771.43 4.99%ICICI Bank Ltd 6,813.00 4.37%Union Bank of India Ltd 958.43 0.62%Cash, Call, CBLO & Reverse Repo 7,353.18 4.72%Other Current Assets (5,549.87) -3.57%

Total Net Assets 155,824.27 100.00%• Top Ten Holdings


Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2002, 2004 & 2006.

12.13%

37.51%

53.69%49.55%

18.85%

8.63%

39.88% 42.53%33.07%

9.96%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Power S&P CNX Nifty

Rs 89200.00

Rs 32658.24

6,05616,05626,05636,05646,05656,05666,05676,05686,05696,056

Oct

-94

Aug-

95

Jun-

96

Apr-9

7

Feb-

98

Dec-

98

Oct

-99

Aug-

00

Jun-

01

Apr-0

2

Feb-

03

Dec-

03

Oct

-04

Aug-

05

Jun-

06

Apr-0

7

Power S&P CNX Nifty

11.96%

11.03%

10.56%

9.87%

7.00%

6.94%

6.71%

6.68%

4.13%

3.34%

3.30%

2.36%

1.98%

1.93%

1.84%

1.49%

0.00% 4.00% 8.00% 12.00%

Banks

Media &

Software

Industrial Capital

Petroleum Products

Ferrous Metals

Pharmaceuticals

Telecom Services

Cement

Industrial Products

Textiles - Products

Transportation

Auto

Construction

Oil

Auto Ancillaries

7

Fund Manager’s Comment

The fund maintained an average equity exposure of 90% during the month, including ~1.35% exposureto Nifty Futures, indicating a cautious stance. The fund booked some profits in Cement (Century) andPaper (TN Newsprint). Weightage of Ferrous Metals has increased due to increase in exposure in KalyaniSteels and fresh position in Welspun.

Sector Allocation*



*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is Nifty Junior. Forcomputation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.



1 Year SIP 30-Jun-06 12,000.00 468.79 14,396.54 46.80%Since Inception 28-Oct-04 33,000.00 1,886.94 57,947.93 47.42%



Portfolio turnover has been computed as the ratio of the higher value ofaverage purchase and average sales, to the average net assets in the pastone year (since inception for schemes that have not completed a year). Thefigures are not netted for derivative transactions.

^ Risk-free rate based on the last 3 month T-Bill cut-off.

Portfolio

WHY SHOULD ONE INVEST?Long term investment of funds for

capital appreciation on a mid-cap portfolio

Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle BoxFigures as on 31-May-2007

ICICI Prudential Emerging S.T.A.R. FundDiversified Fund

Auto Ancillaries 8,977.41 8.05%Phillips Carbon Black Ltd 2,610.86 2.34%Amtek Auto Ltd 2,519.62 2.26%Apollo Tyres Ltd 1,936.71 1.74%Bosch Chassis Systems India Ltd 1,910.22 1.71%Banks 5,966.48 5.35%Bank of Baroda Ltd 2,610.64 2.34%Union Bank of India Ltd 2,001.62 1.80%Andhra Bank Ltd 1,354.22 1.21%Cement 5,653.92 5.07%Birla Corporation Ltd 2,565.88 2.30%India Cements Ltd 1,392.69 1.25%Ramco Industries Ltd 989.60 0.89%Orient Paper & Industries Ltd 705.75 0.63%Chemicals 1,880.55 1.69%Beck India Ltd 965.91 0.87%Vivimed Labs Ltd 914.64 0.82%Construction 3,909.32 3.51%

• Patel Engineering Ltd 2,866.19 2.57%Nagarjuna Construction Company Ltd 1,043.13 0.94%Consumer Durables 3,708.23 3.32%Lloyd Electric & Engineering Ltd 2,044.33 1.83%Mirza International Ltd 1,663.90 1.49%Ferrous Metals 4,610.90 4.14%Mukand Ltd 1,884.12 1.69%Kalyani Steels Ltd 1,445.15 1.30%Welspun Gujarat Stahl Roh Ltd 1,072.20 0.96%Kamdhenu Ispat Ltd 209.43 0.19%Finance 3,595.15 3.23%

• India Infoline Ltd 3,595.15 3.23%Industrial Capital Goods 7,737.84 6.95%

• Aban Lloyd Chiles Offshore Ltd 2,751.57 2.47%RPG Transmission Ltd 2,338.49 2.10%TRF Ltd 1,938.07 1.74%Stone India Ltd 709.71 0.64%Industrial Products 15,822.37 14.19%

• Sintex Industries Ltd 3,333.51 2.99%• AIA Engineering Ltd 2,944.30 2.64%• Sterlite Optical Technologies Ltd 2,734.21 2.45%

Finolex Cables Ltd 2,595.60 2.33%Cummins India Ltd 2,107.53 1.89%Graphite India Ltd 2,107.22 1.89%Media & Entertainment 10,256.01 9.20%

• Deccan Chronicle Holdings Ltd 7,643.59 6.86%Jagran Prakashan Pvt Ltd 1,428.62 1.28%Prime Focus Ltd 1,183.80 1.06%Pharmaceuticals 2,199.21 1.97%Dishman Pharmaceuticals & Chemicals Ltd 2,199.21 1.97%Power 1,606.76 1.44%Webel SL Energy Ltd 1,606.76 1.44%Software 18,227.34 16.35%

• Nucleus Software Exports Ltd 4,069.26 3.65%• Subex Azure Ltd 3,476.09 3.12%• 3i Infotech Ltd 2,753.42 2.47%

Geodesic Information Systems Ltd 2,309.26 2.07%Megasoft Ltd 1,976.80 1.77%Mphasis BFL Software Ltd 1,903.73 1.71%Tech Mahindra Ltd 1,738.78 1.56%Textiles - Products 3,956.58 3.55%Provogue (India) Ltd 1,886.01 1.69%Gokaldas Exports Ltd 1,244.37 1.12%Kewal Kiran Clothing Ltd 826.20 0.74%Transportation 1,163.49 1.04%All Cargo Global Logistics Ltd 1,163.49 1.04%Nifty Futures 1,488.27 1.34%CPs, CDs and Term Deposits 5,017.08 4.50%ICICI Bank Ltd 2,126.00 1.91%Tata Power Company Ltd 1,229.31 1.10%ABN Amro Bank Ltd 476.82 0.43%Kotak Mahindra Bank Ltd 429.65 0.39%UTI Securities Ltd 405.30 0.36%UTI Bank Ltd 350.00 0.31%Cash, Call, CBLO & Reverse Repo 8,432.08 7.56%Other Current Assets (2,744.21) -2.45%Total Net Assets 111,464.78 100.00%


Snapshot:Fund Manager : Deven SangoiIndicative Investment Horizon: 3 years & moreInception date: 28-10-2004Fund Size: Rs. 1,114.65 croresNAV (As on 31-May-2007):




Rs. 10000 invested at inception: Emerging S.T.A.R Fund Vs S&P CNX Nifty

CAGR – Emerging S.T.A.R. Fund : 54.24%; Benchmark : 37.95%Past performance may or may not be sustained in future.

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2004 & 2006.


12.99%

31.80%

54.24%

15.15%

37.67% 37.95%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

Last 6 Months Last 1 years Since Inception

Emerging S.T.A.R. Fund NIFTY Junior Index

Rs 30710.00

Rs 23003.079,933

14,933

19,933

24,933

29,933

34,933

Oct

-04

Dec-

04

Feb-

05

Apr-0

5

Jun-

05

Aug-

05

Oct

-05

Dec-

05

Feb-

06

Apr-0

6

Jun-

06

Aug-

06

Oct

-06

Dec-

06

Feb-

07

Apr-0

7

Emerging S.T.A.R. Fund NIFTY Junior Index

16.35%14.19%

9.20%8.05%

6.95%5.35%

5.07%

4.14%3.55%

3.51%3.32%

3.23%1.97%

1.69%1.44%

1.04%

0.00% 5.00% 10.00% 15.00% 20.00%

Software

Industrial ProductsMedia & Entertainment

Auto Ancillaries

Industrial Capital GoodsBanks

CementFerrous Metals

Textiles - ProductsConstruction

Consumer DurablesFinance

Pharmaceuticals

ChemicalsPower

Transportation

8


The fund maintained an equity exposure of 94% during the month. Exposure toBanks, Petroleum Products and Fertilizers was reduced by booking profits inspecific stocks, while increased exposure to Oil. Within Software sector, the fundreplaced holding in Mastek with increased holding in HCL Technologies.



1 Year SIP 30-Jun-06 12,000.00 470.55 13,250.69 23.64%Since Inception 16-Aug-04 35,000.00 1,988.89 56,007.14 36.15%

Rs. 10000 invested at inception: Discovery Fund Vs S & P CNX Nifty

CAGR – Discovery Plan : 44.95%; Benchmark : 42.52%Past performance may or may not be sustained in future.



Portfolio

ICICI Prudential Discovery FundDiversified Fund

Snapshot:Fund Manager : Sankaran NarenIndicative Investment Horizon: 5 yrs and moreInception date: 16-08-2004Fund Size: Rs. 869.15 croresNAV (As on 31-May-2007):

Growth option: Rs. 28.16Dividend option: Rs. 19.47




following value investment philosophy


Sector Allocation*

Company/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box

*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.



Auto Ancillaries 5,499.19 6.33%• Kesoram Industries Ltd 3,231.60 3.72%

Apollo Tyres Ltd 1,392.10 1.60%India Nippon Elect Ltd 875.49 1.01%Banks 6,823.42 7.85%

• State Bank of India Ltd 3,695.46 4.25%Andhra Bank Ltd 3,127.96 3.60%Cement 4,445.10 5.11%

• Birla Corporation Ltd 4,445.10 5.11%Chemicals 1,916.95 2.21%India Glycols Ltd 1,916.95 2.21%Consumer Non-Durable 8,503.20 9.78%

• Tata Tea Ltd 4,141.35 4.76%Ruchi Soya Industries Ltd 2,591.76 2.98%Nirma Ltd 1,204.09 1.39%Rajshree Sugars & Chemicals Ltd 566.00 0.65%Ferrous Metals 2,690.57 3.09%Jindal Steel & Power Company Ltd 2,184.85 2.51%Tata Steel Ltd 505.72 0.58%Fertilizers 1,995.09 2.29%Gujarat State Fertilisers & Chemicals Ltd 1,199.86 1.38%Zuari Industries Ltd 795.23 0.91%Hardware 1,266.13 1.46%HCL Infosystems Ltd 1,266.13 1.46%Industrial Products 6,297.83 7.25%

• Finolex Cables Ltd 3,430.00 3.95%Kirloskar Oil Engines Ltd 2,337.27 2.69%MM Forgings Ltd 530.56 0.61%Non-Ferrous Metals 974.93 1.12%Nava Bharat Ventures Ltd 974.93 1.12%Oil 6,465.33 7.44%

• Oil & Natural Gas Company Ltd 6,465.33 7.44%Paper 4,764.33 5.49%Tamil Nadu Newsprint & Papers Ltd 2,360.00 2.72%JK Paper Ltd 1,851.50 2.13%Seshashayee Paper & Boards Ltd 552.83 0.64%Pesticides 2,171.10 2.50%Rallis India Ltd 2,171.10 2.50%Petroleum Products 1,533.75 1.76%IBP Company Ltd 1,533.75 1.76%Pharmaceuticals 15,340.26 17.64%

• Aventis Pharma Ltd 5,284.60 6.08%• Cadila Healthcare Ltd 4,086.36 4.70%• Ipca Laboratories Ltd 3,781.20 4.35%

Novartis India Ltd 1,264.10 1.45%FDC Ltd 924.00 1.06%Software 4,131.00 4.75%

• HCL Technologies Ltd 4,131.00 4.75%Textiles - Cotton 3,206.40 3.69%Vardhaman Textiles Ltd 3,206.40 3.69%Textiles - Products 2,276.40 2.62%Raymond Ltd 2,276.40 2.62%Transportation 1,141.83 1.31%Containers Corporation of India Ltd 1,141.83 1.31%CPs, CDs and Term Deposits 2352.95 2.70%ICICI Bank Ltd 2,350.00 2.70%Kotak Mahindra Bank Ltd 2.95 0.00%Cash, Call, CBLO & Reverse Repo 3,532.39 4.06%Other Current Assets (410.00) -0.45%Total Net Assets 86,915.20 100.00%




Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2004.

5.11%

16.46%

44.95%

8.63%

39.88% 42.52%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%


Discovery Fund S&P CNX Nifty

Rs 28160.00

Rs 26863.02

9,819

14,819

19,819

24,819

29,819

34,819

Aug-

04

Oct

-04

Dec-

04

Feb-

05Ap

r-05

Jun-

05

Aug-

05

Oct

-05

Dec-

05

Feb-

06Ap

r-06

Jun-

06

Aug-

06

Oct

-06

Dec-

06

Feb-

07

Apr-

07

Discovery Fund S&P CNX Nifty

17.64%

9.78%

7.85%

7.44%

7.25%

6.33%

5.49%

5.11%

4.75%

3.69%

3.09%

2.62%

2.50%

2.29%

2.21%

1.76%

1.46%

1.31%

1.12%

0.00% 5.00% 10.00% 15.00% 20.00%

Pharmaceuticals

Consumer Non-

Banks

Oil

Industrial Products

Auto Ancillaries

Paper

Cement

Software

Textiles - Cotton

Ferrous Metals

Textiles - Products

Pesticides

Fertilizers

Chemicals

Petroleum Products

Hardware

Transportation

Non-Ferrous Metals

9


*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is ^Nifty JuniorIndex. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

ICICI Prudential Fusion FundDiversified Fund (Close - Ended)

Snapshot:

Fund Manager : Deven SangoiIndicative Investment Horizon: 5 yrs and moreInception date: 25-03-2006Fund Size: Rs. 734.35 croresNAV (As on 31-May-2007):




Style Box

Style Value Blend Growth Size

Large

Mid

Small



WHY SHOULD ONE INVEST?Exploit the long-term investment potential of equity

PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAV

Auto Ancillaries 3,576.59 4.87%• Amtek India Ltd 2,369.82 3.23%

Enkei Castalloy Ltd 750.00 1.02%Sundaram Clayton Ltd 456.77 0.62%Banks 1,236.27 1.68%Punjab National Bank Ltd 696.61 0.95%Federal Bank Ltd 539.66 0.73%Cement 370.46 0.50%Ramco Industries Ltd 370.46 0.50%Construction 6,239.92 8.50%

• Orbit Corporation Ltd 3,175.87 4.32%IVRCL Infrastructure & Projects Ltd 1,226.23 1.67%Unity Infraprojects Ltd 930.21 1.27%Mahindra Gesco Developers Ltd 907.61 1.24%Consumer Durables 930.98 1.27%K.G. Khosla Compressors Ltd 930.98 1.27%Consumer Non-Durable 1,532.09 2.08%ITC Limited 1,273.52 1.73%Synergy Multibase Ltd 258.57 0.35%Ferrous Metals 2,558.41 3.48%

• Kalyani Steels Ltd 2,558.41 3.48%Industrial Capital Goods 7,008.51 9.54%

• Aban Lloyd Chiles Offshore Ltd 1,935.16 2.64%Bharti Shipyard Ltd 1,698.21 2.31%Action Construction Ltd 1,302.74 1.77%Jyoti Ltd 933.25 1.27%Gei Hamon Industries Ltd 630.50 0.86%Gujarat Apollo Equipments Ltd 508.65 0.69%Industrial Products 8,037.50 10.95%

• Jain Irrigation Systems Ltd 3,931.46 5.35%AIA Engineering Ltd 1,806.97 2.46%Esab India Ltd 1,180.88 1.61%Finolex Cables Ltd 1,062.24 1.45%Nitin Fire Protection Industries Ltd 55.95 0.08%Media & Entertainment 7,182.98 9.78%

• Deccan Chronicle Holdings Ltd 5,307.41 7.23%Jagran Prakashan Pvt Ltd 1,875.57 2.55%Pesticides 2,443.38 3.33%United Phosphorus Ltd 1,538.75 2.10%Rallis India Ltd 904.63 1.23%Petroleum Products 4,391.76 5.98%

• Reliance Industries Ltd 4,391.76 5.98%Pharmaceuticals 7,011.19 9.55%

• Elder Pharmaceuticals Ltd 2,623.46 3.57%Dishman Pharmaceuticals & Chemicals Ltd 1,648.28 2.24%Torrent Pharmaceuticals Ltd 1,384.49 1.89%Cadila Healthcare Ltd 1,354.96 1.85%Software 9,704.79 13.22%

• Subex Azure Ltd 3,247.59 4.42%• Zenith Infotech Ltd 2,369.32 3.23%

Firstsource Solutions Ltd 1,192.07 1.62%Mphasis BFL Software Ltd 1,135.93 1.55%Megasoft Ltd 1,120.70 1.53%Geometric Software Solutions Ltd 639.18 0.87%Textiles - Products 4,083.58 5.55%Aditya Birla Nuvo Ltd 1,396.40 1.90%Kewal Kiran Clothing Ltd 1,191.56 1.62%Siyaram Silk Mills Ltd 788.28 1.07%Gokaldas Exports Ltd 707.34 0.96%Nifty Futures 2,039.96 2.78%CPs, CDs and Term Deposits 510.00 0.69%ICICI Bank Ltd 510.00 0.69%Cash, Call, CBLO & Reverse Repo 4,529.49 6.17%Other Current Assets 47.18 0.08%Total Net Assets 73,435.04 100.00%


Sector Allocation*


Average P/E : 23Average P/BV : 4.12Average Dividend Yield: 0.64Annual Portfolio Turnover Ratio: 0.57 times



Rs. 10000 invested at inception: Fusion Plan Vs S&P CNX Nifty

CAGR – Fusion Fund: 27.97%; Benchmark : 22.21%Past performance may or may not be sustained in future.

10.66%

29.62% 27.97%

15.15%

37.67%

22.21%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%


Fusion Fund NIFTY Junior Index

Rs 13390.00

Rs 13282.26

7,430

8,430

9,430

10,430

11,430

12,430

13,430

14,430

Mar

-06

Apr-0

6

May

-06

Jun-

06

Jul-0

6

Aug-

06

Sep-

06

Oct

-06

Nov

-06

Dec-

06

Jan-

07

Feb-

07

Mar

-07

Apr-0

7

May

-07

Fusion Fund NIFTY Junior Index

13.22%10.95%

9.78%9.55%9.54%

8.50%5.98%

5.55%4.87%

3.48%3.33%

2.08%1.68%

1.27%0.50%

0.00% 4.00% 8.00% 12.00% 16.00%

SoftwareIndustrial Products

Media & EntertainmentPharmaceuticals

Industrial Capital GoodsConstruction

Petroleum ProductsTextiles - Products

Auto AncillariesFerrous Metals

PesticidesConsumer Non-Durable

BanksConsumer Durables

Cement

10


*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

Sector Allocation*


ICICI Prudential Tax PlanDiversified Fund

Snapshot:Fund Manager : Sankaran NarenIndicative Investment Horizon: 3 yrs & moreInception date: 19-08-1999Fund Size: Rs. 700.14 croresNAV (As on 31-May-2007):


**Expense Ratio (6 Months avg. Dec 06-May 07): 2.21%


WHY SHOULD ONE INVEST?Medium term investment of funds with tax benefits for capital appreciation


Sundaram Clayton Ltd 1,921.70 2.74%Rane Madras Ltd 856.02 1.22%Sundaram Brake Linings Ltd 646.95 0.92%Rane Holdings Ltd 522.70 0.75%Rane Brake Linings Ltd 376.04 0.54%Banks 6,182.89 8.83%

• ICICI Bank Ltd 2,756.53 3.94%Andhra Bank Ltd 1,396.30 1.99%Punjab National Bank Ltd 1,248.11 1.78%ING Vysya Bank Ltd 781.95 1.12%Cement 1,655.20 2.36%Orient Paper & Industries Ltd 1,655.20 2.36%Chemicals 4,173.20 5.96%Clariant Chemicals (India) Ltd 1,811.70 2.59%India Glycols Ltd 736.47 1.05%Gwalior Chemical Industries Ltd 632.44 0.90%Atul Ltd 565.47 0.81%Andhra Sugars Ltd 427.12 0.61%Construction 726.14 1.04%Sadbhav Engineering Ltd 726.14 1.04%Consumer Non-Durable 9,092.15 12.98%

• ICI India Ltd 3,678.34 5.25%• Tata Tea Ltd 2,300.75 3.29%

Gillette India Ltd 1,491.03 2.13%Hindustan Sanitaryware & Industries Ltd 664.61 0.95%Venky's (India) Ltd 492.99 0.70%Harrisons Malyalam Ltd 464.43 0.66%Ferrous Metals 251.75 0.36%Tata Steel Ltd 251.75 0.36%Fertilizers 1,525.05 2.18%Zuari Industries Ltd 1,525.05 2.18%Hotels 897.41 1.28%Oriental Hotels Ltd 897.41 1.28%Industrial Capital Goods 872.87 1.25%Numeric Power Systems Ltd 872.87 1.25%Industrial Products 3,663.39 5.24%H.E.G. Ltd 1,661.30 2.37%Paper Products Ltd 1,076.25 1.54%Poleplex Corporation Ltd 600.09 0.86%MM Forgings Ltd 325.75 0.47%Media & Entertainment 714.75 1.02%Zee News Ltd 714.75 1.02%Non-Ferrous Metals 489.34 0.70%National Aluminium Company Limited-Futures 489.34 0.70%Oil 4,173.58 5.96%

• Oil & Natural Gas Company Ltd 3,461.03 4.94%Hindustan Oil Exploration Ltd 712.55 1.02%Petroleum Products 2,321.60 3.32%

• IBP Company Ltd 2,321.60 3.32%Pharmaceuticals 9,066.41 12.94%

• Cadila Healthcare Ltd 2,927.75 4.18%• Aventis Pharma Ltd 2,426.95 3.47%

FDC Ltd 1,326.07 1.89%Alembic Ltd 1,246.72 1.78%Glenmark Pharmaceuticals Ltd 1,095.44 1.56%Ahlcon Parenterals (India) Ltd 43.48 0.06%Retailing 1,999.20 2.86%Trent Ltd 1,999.20 2.86%Software 9,577.81 13.67%

• Infosys Technologies Ltd 4,327.88 6.18%• Tata Consultancy Services Ltd 2,416.70 3.45%

Megasoft Ltd 1,129.49 1.61%3i Infotech Ltd 930.30 1.33%Firstsource Solutions Ltd 584.45 0.83%MIC Electronics Ltd 188.99 0.27%Textiles - Cotton 462.54 0.66%Precot Mills Ltd 462.54 0.66%Textiles - Products 980.25 1.40%Raymond Ltd 980.25 1.40%Textiles - Synthetic 281.14 0.40%Sangam India Ltd 281.14 0.40%CPs, CDs and Term Deposits 779.00 1.11%UTI Bank Ltd 430.00 0.61%ICICI Bank Ltd 349.00 0.50%Cash, Call, CBLO & Reverse Repo 5,333.59 7.62%Other Current Assets (2,356.51) -3.35%Total Net Assets 70,013.81 100.00%




1 Year SIP 30-Jun-06 12,000.00 139.43 12,887.51 16.59%3 Year SIP 30-Jun-04 36,000.00 626.87 57,941.59 35.38%5 Year SIP 28-Jun-02 60,000.00 2,111.24 195,141.91 50.74%Since Inception 19-Aug-99 95,000.00 4,925.72 455,284.30 39.21%



PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVStyle Box


Portfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have not completeda year). The figures are not netted for derivative transactions.


CAGR – Tax Plan: 33.06%; Benchmark : 16.08%Past performance may or may not be sustained in future.

Rs. 10000 invested at inception: Tax Plan Vs S&P CNX Nifty

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002 & 2004 .


1.45% 9.70%

55.97%49.65%

33.06%

8.63%

39.88% 42.53%33.07%

16.08%

0.00%10.00%20.00%30.00%40.00%50.00%60.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Tax Plan S&P CNX Nifty

Rs 92430.00

Rs 31939.03

6,301

26,301

46,301

66,301

86,301

106,301

126,301

Aug-

99Ja

n-00

Jun-

00N

ov-0

0Ap

r-01

Sep-

01Fe

b-02

Jul-0

2De

c-02

May

-03

Oct

-03

Mar

-04

Aug-

04Ja

n-05

Jun-

05N

ov-0

5Ap

r-06

Sep-

06Fe

b-07

Tax Plan S&P CNX Nifty

13.67%

12.98%12.94%

10.21%8.83%

5.96%5.96%

5.24%

3.32%2.86%

2.36%2.18%

1.40%1.28%1.25%

1.04%1.02%

0.70%0.66%

0.40%0.36%

0.00% 4.00% 8.00% 12.00% 16.00%

SoftwareConsumer Non-Durable

Pharmaceuticals

Auto AncillariesBanks

OilChemicals

Industrial ProductsPetroleum Products

Retailing

CementFertilizers

Textiles - ProductsHotels

Industrial Capital GoodsConstruction


Non-Ferrous MetalsTextiles - Cotton

Textiles - SyntheticFerrous Metals

11


The fund maintained an average equity exposure of 95% during the month, including ~9% exposure toNifty Futures, indicating a cautious stance. The fund increased exposure to Banks (HDFC Bank),Consumer Non-Durable (HLL) and Non-Ferrous Metals (Sterlite Industries) while it booked profits in Autoand Construction. The portfolio is skewed towards large cap as the fund seeks to maximize the risk-return payoff.



1 Year SIP 30-Jun-06 12,000.00 137.98 13,770.40 33.98%

3 Year SIP 30-Jun-04 36,000.00 640.19 63,890.96 43.37%

5 Year SIP 28-Jun-02 60,000.00 1,674.32 167,097.14 43.65%

Since Inception 9-Jul-98 108,000.00 4,539.88 453,080.02 30.88%







ICICI Prudential Growth PlanDiversified Fund

Snapshot:Fund Manager : Deven SangoiIndicative Investment Horizon: 5 years & moreInception date: 09-07-1998Fund Size: Rs. 470.64 croresNAV (As on 31-May-2007):






Rs. 10000 invested at inception: Growth Plan Vs S & P CNX Nifty

CAGR – Growth Plan : 29.50%; Benchmark : 18.33%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.

Style BoxFigures as on 31-May-2007


Auto 612.83 1.30%Maruti Udyog Ltd 612.83 1.30%Banks 5,725.85 12.16%

• ICICI Bank Ltd 1,865.21 3.96%State Bank of India Ltd 1,437.31 3.05%Punjab National Bank Ltd 1,369.76 2.91%HDFC Bank Ltd 1,053.57 2.24%Cement 2,084.42 4.43%Grasim Industries Ltd 1,279.78 2.72%Gujarat Ambuja Cement Ltd 804.64 1.71%Consumer Non-Durable 2,720.73 5.78%

• ITC Limited 1,466.99 3.12%Hindustan Lever Ltd 1,253.74 2.66%Ferrous Metals 2,163.34 4.60%Steel Authority of India Ltd 1,321.91 2.81%Tata Steel Ltd 841.43 1.79%Industrial Capital Goods 4,901.78 10.42%

• Larsen & Toubro Limited 1,852.18 3.94%• Bharat Heavy Electricals Ltd 1,554.85 3.30%• Bharat Electonics Ltd 1,494.75 3.18%

Media & Entertainment 1,834.85 3.90%• Zee Entertainment Enterprises Ltd 1,834.85 3.90%

Non-Ferrous Metals 680.38 1.45%Sterlite Industries (India) Ltd 680.38 1.45%Oil 2,381.86 5.06%

• Oil & Natural Gas Company Ltd 2,381.86 5.06%Pesticides 1,186.56 2.52%United Phosphorus Ltd 1,186.56 2.52%Petroleum Products 3,904.15 8.30%

• Reliance Industries Ltd 3,904.15 8.30%Pharmaceuticals 1,798.57 3.82%Sun Pharmaceuticals Limited 1,019.89 2.17%Ranbaxy Laboratories Ltd 461.07 0.98%Sun Pharmaceuticals Limited-Futures 274.30 0.58%Sun Pharma Advanced Research Co. Ltd 43.31 0.09%Software 5,287.72 11.23%

• Tata Consultancy Services Ltd 1,477.82 3.14%Infosys Technologies Ltd 1,335.83 2.84%Wipro Ltd 1,115.38 2.37%HCL Technologies Ltd 942.83 2.00%Satyam Computer Services Ltd 415.86 0.88%Telecom Services 3,792.74 8.05%

• Bharti Airtel Ltd 2,482.36 5.27%Reliance Communications Ventures Ltd 1,310.38 2.78%Transportation 1,382.54 2.94%Containers Corporation of India Ltd 1,382.54 2.94%Nifty Futures 4,199.67 8.92%CPs, CDs and Term Deposits 708.63 1.51%ICICI Bank Ltd 621.00 1.32%State Bank of Patiala Ltd 87.63 0.19%Cash, Call, CBLO & Reverse Repo 5,975.59 12.70%Other Current Assets (4,277.95) -9.09%Total Net Assets 47,064.26 100.00%


7.67%

33.74%

49.45%

40.38%

29.50%

8.63%

39.88% 42.53%

33.07%

18.33%

0.00%

10.00%20.00%

30.00%40.00%

50.00%60.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Growth Plan S&P CNX Nifty

Rs 99800.00

Rs 44699.03

8,36518,36528,36538,36548,36558,36568,36578,36588,36598,365

108,365

Jul-9

8

Jan-

99Ju

l-99

Jan-

00

Jul-0

0Ja

n-01

Jul-0

1

Jan-

02Ju

l-02

Jan-

03

Jul-0

3Ja

n-04

Jul-0

4

Jan-

05Ju

l-05

Jan-

06

Jul-0

6Ja

n-07

Growth Plan S&P CNX Nifty

12.16%

11.23%

10.42%

8.30%

8.05%

5.78%

5.06%

4.60%

4.43%

3.90%

3.82%

2.94%

2.52%

1.45%

1.30%

0.00% 4.00% 8.00% 12.00%

Banks

Software

Industrial Capital Goods

Petroleum Products

Telecom Services


Oil

Ferrous Metals

Cement


Pharmaceuticals

Transportation

Pesticides

Non-Ferrous Metals

Auto

12



1 Year SIP 30-Jun-06 12,000.00 715.49 14,710.47 53.39%Since Inception 31-Aug-05 22,000.00 1,545.38 31,773.01 48.48%

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the years 2005 & 2006.


The fund has further decreased its equity exposure at 78% during the month, indicating a cautiousstance. The fund booked profit in Industrial Capital Goods (BHEL) and Construction (Jai PrakashAssociates Ltd), while consolidating investments in Power (NTPC) and Cement.

Sector Allocation*


*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is S&P CNX Nifty.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.



Portfolio turnover has been computed as the ratio of the higher value ofaverage purchase and average sales, to the average net assets in the pastone year (since inception for schemes that have not completed a year). Thefigures are not netted for derivative transactions.

ICICI Prudential Infrastructure FundThematic Fund

Snapshot:Fund Manager : Sankaran NarenIndicative Investment Horizon: 5 yrs and moreInception date: 31-08-2005Fund Size: Rs. 1,821.57 croresNAV (As on 31-May-2007):






WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation derivedfrom the growth and development of the infrastructure sector





Banks 20,062.19 11.01%• ICICI Bank Ltd 6,860.70 3.77%

Andhra Bank Ltd 5,232.00 2.87%HDFC Bank Ltd 3,442.80 1.89%Punjab National Bank Ltd 2,496.21 1.37%State Bank of India Ltd 2,030.48 1.11%Cement 3,879.83 2.13%Grasim Industries Ltd 2,600.31 1.43%Birla Corporation Ltd 771.22 0.42%JK Cements Ltd 508.30 0.28%Construction 13,991.22 7.68%

• Patel Engineering Ltd 7,736.64 4.25%Gammon India Ltd 2,419.23 1.33%Nagarjuna Construction Company Ltd 2,170.24 1.19%BL Kashyap and Sons Ltd 1,665.11 0.91%Dredging 3,455.69 1.90%Dredging Corporation of India Ltd 3,455.69 1.90%Ferrous Metals 22,400.79 12.30%

• Jindal Steel & Power Company Ltd 8,752.24 4.80%• Usha Martin Ltd 5,732.75 3.15%• Steel Authority of India Ltd 5,601.69 3.08%

Adhunik Metaliks Ltd 1,862.00 1.02%Welspun Gujarat Stahl Roh Ltd 452.11 0.25%Hotels 3,707.03 2.04%EIH Ltd 3,707.03 2.04%Industrial Capital Goods 11,331.65 6.21%Siemens India Ltd 4,209.52 2.31%Larsen & Toubro Limited 4,014.78 2.20%ABG Heavy Industries Ltd 1,586.54 0.87%Kalpataru Power Transmission Ltd 1,312.43 0.72%Larsen & Toubro Limited-Futures 208.38 0.11%Industrial Products 9,263.99 5.09%Cummins India Ltd 5,188.40 2.85%Electrosteel Castings Ltd 4,075.59 2.24%Non-Ferrous Metals 2,721.50 1.49%Sterlite Industries (India) Ltd 2,721.50 1.49%Oil 9,346.86 5.13%

• Oil & Natural Gas Company Ltd 7,739.95 4.25%Hindustan Oil Exploration Ltd 1,606.91 0.88%Petroleum Products 14,069.52 7.72%

• Reliance Industries Ltd 14,069.52 7.72%Power 13,650.85 7.49%

• Tata Power Company Ltd 7,614.75 4.18%National Thermal Power Corporation Ltd 3,170.00 1.74%Gujarat Industries Power Company Ltd 2,866.10 1.57%Telecom Services 2,547.75 1.40%Bharti Airtel Ltd 2,547.75 1.40%Transportation 5,284.78 2.90%

• Containers Corporation of India Ltd 5,284.78 2.90%CPs, CDs and Term Deposits 23,747.47 13.04%ICICI Bank Ltd 13,381.00 7.35%Allahabad Bank Ltd 9,825.00 5.39%UTI Bank Ltd 541.47 0.30%Cash, Call, CBLO & Reverse Repo 18,393.46 10.10%Other Current Assets (3,085.44) -1.69%Total Net Assets 182,156.98 100.00%


Rs. 10000 invested at inception: Infrastructure Fund Vs S&P CNX Nifty

CAGR – Infrastructure : 51.04%; Benchmark : 40.04%Past performance may or may not be sustained in future.

12.97%

47.28%51.04%

8.63%

39.88% 40.04%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%


Infrastructure Fund S&P CNX Nifty

Rs 20560.00

Rs 18014.38

9,420

11,420

13,420

15,420

17,420

19,420

21,420

Aug-

05Se

p-05

Oct

-05

Nov

-05

Dec-

05Ja

n-06

Feb-

06M

ar-0

6Ap

r-06

May

-06

Jun-

06Ju

l-06

Aug-

06Se

p-06

Oct

-06

Nov

-06

Dec-

06Ja

n-07

Feb-

07M

ar-0

7Ap

r-07

May

-07

Infrastructure Fund S&P CNX Nifty

12.30%

11.01%

7.72%

7.68%

7.49%

6.21%

5.13%

5.09%

4.06%

2.90%

2.13%

2.04%

1.90%

1.49%

1.40%

0.00% 4.00% 8.00% 12.00% 16.00%

Ferrous Metals

Banks

Petroleum Products

Construction

Power


Oil

Industrial Products

Auto Ancillaries

Transportation

Cement

Hotels

Dredging

Non-Ferrous Metals

Telecom Services

13



1 Year SIP 30-Jun-06 12,000.00 899.61 15,338.35 66.84%Since Inception 30-Nov-05 19,000.00 1,535.23 26,175.67 49.85%


The fund maintained an average equity exposure of 90% during the month, including ~4.30% exposure to NiftyFutures, indicating a cautious stance. The fund has built fresh position in HDFC Bank (Banks), Avaya GlobalConnect (Telecom Services) and Vimta Labs (Healthcare Services). The fund booked profits in Software bycompletely exiting Wipro.

Average P/E : 23Average P/BV : 4.11Average Dividend Yield : 0.87Annual Portfolio Turnover Ratio : 1.22 timesPortfolio turnover has been computed as the ratio of the higher value of average purchase and averagesales, to the average net assets in the past one year (since inception for schemes that have not completeda year). The figures are not netted for derivative transactions.^ Risk-free rate based on the last 3 month T-Bill cut-off.


PortfolioCompany/Issuer Mkt Value (Rs. Lakh) % to NAVSnapshot:

Fund Manager : Deven SangoiIndicative Investment Horizon: 5 yrs. & moreInception date: 30-11-2005Fund Size: Rs. 543.52 croresNAV (As on 31-May-2007):


**Expense Ratio (6 Months avg. Dec 06-May 07): 2.24%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation derived

from the growth potential of the service industries sector

Auto Ancillaries 2,475.61 4.55%Automobile Corporation of Goa Ltd 1,379.83 2.54%Sundaram Clayton Ltd 816.72 1.50%Shivam Autotech Ltd 279.06 0.51%Banks 7,511.85 13.82%

• ICICI Bank Ltd 2,068.09 3.80%Andhra Bank Ltd 1,296.35 2.39%Punjab National Bank Ltd 1,259.23 2.32%HDFC Bank Ltd 1,158.47 2.13%Union Bank of India Ltd 1,134.72 2.09%Bank of Baroda Ltd 594.99 1.09%Construction 3,565.55 6.55%Jai Prakash Associates Ltd 1,448.19 2.66%Nagarjuna Construction Company Ltd 985.18 1.81%BL Kashyap and Sons Ltd 613.59 1.13%Patel Engineering Ltd 518.59 0.95%Finance 1,914.91 3.52%

• India Infoline Ltd 1,914.91 3.52%Healthcare Services 573.25 1.05%Vimta Labs Ltd 573.25 1.05%Industrial Capital Goods 2,877.88 5.30%

• Bharti Shipyard Ltd 1,531.40 2.82%Bharat Electonics Ltd 1,346.48 2.48%Industrial Products 1,885.89 3.47%

• Jain Irrigation Systems Ltd 1,885.89 3.47%Media & Entertainment 5,568.85 10.24%

• Jagran Prakashan Pvt Ltd 1,725.30 3.17%• Zee Entertainment Enterprises Ltd 1,649.15 3.03%• Deccan Chronicle Holdings Ltd 1,571.25 2.89%

Television Eighteen India Ltd. 623.15 1.15%Pesticides 905.97 1.67%United Phosphorus Ltd 905.97 1.67%Pharmaceuticals 4,080.31 7.51%

• Dishman Pharmaceuticals & Chemicals Ltd 1,525.30 2.81%Sun Pharmaceuticals Limited 657.73 1.21%Dr. Reddy’s Laboratories Ltd 647.15 1.19%Plethico Pharmaceuticals Ltd 486.52 0.90%Elder Pharmaceuticals Ltd 409.71 0.75%Indoco Remedies Ltd 326.00 0.60%Sun Pharma Advanced Research Co. Ltd 27.90 0.05%Power 814.16 1.50%PTC India Ltd 814.16 1.50%Software 8,761.09 16.12%

• Nucleus Software Exports Ltd 2,537.10 4.67%Infotech Enterprises Ltd 1,205.10 2.22%Tata Consultancy Services Ltd 998.39 1.84%Tech Mahindra Ltd 922.73 1.70%3i Infotech Ltd 914.80 1.68%Infosys Technologies Ltd 843.32 1.55%Mphasis BFL Software Ltd 708.86 1.30%Financial Technologies Ltd 630.79 1.16%Telecom Services 2,716.42 5.00%

• Bharti Airtel Ltd 1,825.89 3.36%Reliance Communications Ventures Ltd 587.81 1.08%Avaya Global Connect Ltd 302.72 0.56%Textiles - Products 1,704.64 3.14%Aditya Birla Nuvo Ltd 1,282.98 2.36%Gokaldas Exports Ltd 421.66 0.78%Transportation 1,166.56 2.15%Containers Corporation of India Ltd 1,166.56 2.15%Nifty Futures 2,335.05 4.30%CPs, CDs and Term Deposits 402.00 0.74%ICICI Bank Ltd 402.00 0.74%Cash, Call, CBLO & Reverse Repo 7,073.48 13.01%Other Current Assets (1,981.10) -3.64%Total Net Assets 54,352.37 100.00%



Sector Allocation*

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNXNifty. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.



ICICI Prudential Services Industries FundThematic Fund

Style Box


Rs. 10000 invested at inception: Services Industries Fund Vs S&P CNX Nifty

CAGR – Service Industries : 42.77%; Benchmark : 37.96%Past performance may or may not be sustained in future.

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.The high level of returns come from the sharp appreciation in market, in the year 2006.

19.15%

51.02%42.77%

8.63%

39.88% 37.96%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%


Services Industries Fund S&P CNX Nifty

Rs 17050.00

Rs 16196.81

8,8109,810

10,81011,81012,81013,81014,81015,81016,81017,810

Nov

-05

Dec-

05

Jan-

06

Feb-

06

Mar

-06

Apr-0

6

May

-06

Jun-

06

Jul-0

6

Aug-

06

Sep-

06

Oct

-06

Nov

-06

Dec-

06

Jan-

07

Feb-

07

Mar

-07

Apr-0

7

May

-07

Services Industries Fund S&P CNX Nifty

16.12%

13.82%

10.24%

7.51%

6.55%

5.30%

5.00%

4.55%

3.52%

3.47%

3.14%

2.15%

1.67%

1.50%

1.05%

0.00% 5.00% 10.00% 15.00% 20.00%

Software

Banks


Pharmaceuticals

Construction


Telecom Services

Auto Ancillaries

Finance

Industrial Products

Textiles - Products

Transportation

Pesticides

Power

Healthcare Services

14


ICICI Prudential FMCG FundThematic Fund

Snapshot:

Fund Manager : Prashant KothariIndicative Investment Horizon: 5 yrs & moreInception date: 31-03-1999Fund Size: Rs. 80.39 croresNAV (As on 31-May-2007):




WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation in FMCG sector

Performance Record* - Growth Option

Rs. 10000 invested at inception: FMCG Vs CNX FMCG Index

CAGR – FMCG : 19.19%; Benchmark : 6.00%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is CNX FMCGIndex. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.



1 Year SIP 30-Jun-06 12,000.00 312.55 13,120.85 21.10%

3 Year SIP 30-Jun-04 36,000.00 1,510.28 63,401.55 42.74%

5 Year SIP 28-Jun-02 60,000.00 4,121.45 173,018.47 45.23%

Since Inception 31-Mar-99 99,000.00 8,141.35 341,773.87 29.50%



Consumer Non-Durable 6,147.03 76.47%• ICI India Ltd 1,417.94 17.64%• Marico Industries Ltd 1,031.39 12.83%• Gillette India Ltd 787.82 9.80%• Asian Paints Ltd 673.15 8.37%• Pidilite Industries Ltd 659.62 8.20%• Proctor & Gamble Hygiene and Healthcare Limited 462.73 5.76%• Hindustan Lever Ltd 307.13 3.82%• ITC Limited 298.73 3.72%

ITC Limited-Futures 254.84 3.17%Radico Khaitan Ltd 253.68 3.16%Retailing 1,540.11 19.15%

• Trent Ltd 889.47 11.06%• Pantaloon Retail (India) Ltd 650.64 8.09%

Textiles - Products 278.34 3.46%Page Industries Ltd 278.34 3.46%CPs, CDs and Term Deposits 90.00 1.12%ICICI Bank Ltd 90.00 1.12%Cash, Call, CBLO & Reverse Repo 378.10 4.70%Other Current Assets (394.13) -4.90%Total Net Assets 8,039.45 100.00%


Style Box







2.07%14.08%

56.65%

38.27%

19.19%

-5.17%

1.33%

33.06%

18.51%6.00%

-10.00%0.00%

10.00%20.00%30.00%40.00%50.00%60.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

FMCG Fund CNX FMCG Index

Rs 41980.00

Rs 16096.29

5,85310,85315,85320,85325,85330,85335,85340,85345,853

Mar

-99

Sep-

99

Mar

-00

Sep-

00

Mar

-01

Sep-

01

Mar

-02

Sep-

02

Mar

-03

Sep-

03

Mar

-04

Sep-

04

Mar

-05

Sep-

05

Mar

-06

Sep-

06

Mar

-07

FMCG Fund CNX FMCG Index

76.47%

19.15%

3.46%

0.00% 20.00% 40.00% 60.00% 80.00% 100.00%

Consumer Non-

Durable

Retailing

Textiles - Products

15



ICICI Prudential Technology FundSector Fund

Snapshot:Fund Manager : Nimesh ChandanIndicative Investment Horizon: 5 yrs & moreInception date: 03-03-2000Fund Size: Rs. 180.45 croresNAV (As on 31-May-2007):

Growth option: Rs. 16.43**Expense Ratio (6 Months avg. Dec 06-May 07): 2.40%


WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation in technology sector

Consultancy 25.82 0.14%Quality Assurance Institute (I) Ltd 25.82 0.14%Hardware 560.85 3.11%Cambridge Solutions Ltd 560.85 3.11%Industrial Capital Goods 378.67 2.10%Solectron Centum Electronics Ltd 378.67 2.10%Media & Entertainment 2,190.81 12.14%

• Deccan Chronicle Holdings Ltd 2,190.81 12.14%Pharmaceuticals 1,755.38 9.72%Elder Pharmaceuticals Ltd 585.30 3.24%Indoco Remedies Ltd 479.74 2.66%Plethico Pharmaceuticals Ltd 399.30 2.21%Glenmark Pharmaceuticals Ltd 291.04 1.61%Software 12,148.93 67.34%

• Nucleus Software Exports Ltd 1,626.11 9.01%• Subex Azure Ltd 1,207.34 6.69%• Tata Consultancy Services Ltd 1,134.23 6.29%• 3i Infotech Ltd 956.04 5.30%• Tech Mahindra Ltd 746.41 4.14%• HCL Technologies Ltd 709.16 3.93%• Infotech Enterprises Ltd 691.22 3.83%• Tulip IT Services Ltd 627.34 3.48%

Sasken Communications Technologies Ltd 568.92 3.15%Tanla Solutions Ltd 560.45 3.11%Geometric Software Solutions Ltd 468.97 2.60%Hexaware Technologies Ltd 466.57 2.59%Infosys Technologies Ltd 465.64 2.58%Mphasis BFL Software Ltd 455.00 2.52%Geodesic Information Systems Ltd 404.71 2.24%Megasoft Ltd 364.89 2.02%Zenith Infotech Ltd 353.40 1.96%Wipro Ltd 342.53 1.90%Telecom Services 616.00 3.41%

• Avaya Global Connect Ltd 616.00 3.41%CPs, CDs and Term Deposits 300.00 1.66%UTI Bank Ltd 300.00 1.66%Cash, Call, CBLO & Reverse Repo 459.40 2.55%Other Current Assets (390.42) -2.17%

Total Net Assets 18,045.44 100.00%



Rs. 10000 invested at inception: Technology Fund Vs BSE Tech Index

CAGR – Technology Fund: 7.09%; Benchmark : -2.63%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE Tech Index.For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.



1 Year SIP 30-Jun-06 12,000.00 919.64 15,109.69 61.90%

3 Year SIP 30-Jun-04 36,000.00 4,134.24 67,925.56 48.52%

5 Year SIP 28-Jun-02 60,000.00 11,110.91 182,552.25 47.68%

Since Inception 3-Mar-00 88,000.00 18,381.58 302,009.36 33.62%


Style Box





Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month. Thehigh level of returns come from the sharp appreciation in market, in the year 2002, 2004 and 2006.


19.58%

51.57% 50.60%

39.12%

7.09%4.11%

51.08%47.02%

33.79%

-2.63%-10.00%0.00%

10.00%20.00%30.00%40.00%50.00%60.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Technology Fund BSE Tech Index

Rs 16430.00

Rs 8243.16

1,1773,1775,1777,1779,177

11,17713,17715,17717,17719,177

Mar

-00

Aug-

00

Jan-

01Ju

n-01

Nov-

01Ap

r-02

Sep-

02Fe

b-03

Jul-0

3De

c-03

May

-04

Oct-0

4M

ar-0

5Au

g-05

Jan-

06Ju

n-06

Nov-

06Ap

r-07

Technology Fund BSE Tech Index

67.34%

12.14%

9.72%

3.41%

3.11%

2.10%

0.14%

0.00% 20.00% 40.00% 60.00% 80.00%

Software


Pharmaceuticals

Telecom Services

Hardware


Consultancy

16



1 Year SIP 30-Jun-06 12,000.00 363.82 13,921.94 37.04%3 Year SIP 30-Jun-04 36,000.00 1,633.48 62,506.75 41.56%5 Year SIP 28-Jun-02 60,000.00 3,946.27 151,007.97 39.11%Since Inception 26-Feb-02 65,000.00 4,478.38 171,369.69 37.47%


ICICI Prudential Index FundIndex Fund

Snapshot:Fund Manager : Yogesh BhattIndicative Investment Horizon: 5 yrs & moreInception date: 26-02-2002Fund Size: Rs. 16.41 croresNAV (As on 31-May-2007): Rs. 38.2660**Expense Ratio (6 Months avg. Dec 06-May 07): 1.25%



by replicating S&P CNX Nifty index

Auto 76.81 4.68%Tata Motors Ltd 20.62 1.26%Maruti Udyog Ltd 16.71 1.02%Bajaj Auto Ltd 15.95 0.97%Mahindra & Mahindra Ltd 13.17 0.80%Hero Honda Ltd 10.36 0.63%Banks 146.86 8.95%

• ICICI Bank Ltd 58.53 3.57%• State Bank of India Ltd 50.46 3.07%

HDFC Bank Ltd 25.92 1.58%Punjab National Bank Ltd 11.95 0.73%Cement 39.61 2.41%Grasim Industries Ltd 16.15 0.98%Gujarat Ambuja Cement Ltd 12.18 0.74%Associated Cement Companies Ltd 11.28 0.69%Chemicals 7.59 0.46%Indian Petrochemicals Corporation Ltd 7.59 0.46%Consumer Non-Durable 81.52 4.97%Dabur India Ltd 6.10 0.37%ITC Limited 43.64 2.66%Hindustan Lever Ltd 31.78 1.94%Ferrous Metals 66.84 4.07%Steel Authority of India Ltd 41.03 2.50%Tata Steel Ltd 25.81 1.57%Finance 33.70 2.05%HDFC Ltd 33.70 2.05%Gas 18.28 1.11%Gas Authority of India Ltd 18.28 1.11%Industrial Capital Goods 148.46 9.05%

• Bharat Heavy Electricals Ltd 48.52 2.96%Larsen & Toubro Limited 40.16 2.45%Suzlon Energy Ltd 30.76 1.87%Siemens India Ltd 15.30 0.93%ABB Ltd 13.72 0.84%Media & Entertainment 9.63 0.59%Zee Entertainment Enterprises Ltd 9.63 0.59%Non-Ferrous Metals 45.07 2.74%Sterlite Industries (India) Ltd 21.52 1.31%Hindalco Industries Ltd 12.22 0.74%National Aluminium Company Limited 11.33 0.69%Oil 139.67 8.51%

• Oil & Natural Gas Company Ltd 139.67 8.51%Petroleum Products 221.80 13.51%Bharat Petroleum Corporation Ltd 9.24 0.56%Hindustan Petroleum Corporation Ltd 7.08 0.43%

• Reliance Industries Ltd 205.48 12.52%Pharmaceuticals 53.95 3.29%Glaxo Smithkline Pharma Ltd 7.70 0.47%Dr. Reddy’s Laboratories Ltd 7.69 0.47%Sun Pharma Advanced Research Co. Ltd 0.95 0.06%Sun Pharmaceuticals Limited 15.41 0.94%Cipla Ltd 11.97 0.73%Ranbaxy Laboratories Ltd 10.23 0.62%Power 16.89 1.03%Reliance Energy Ltd 8.70 0.53%Tata Power Company Ltd 8.19 0.50%Software 255.26 15.56%

• Tata Consultancy Services Ltd 83.69 5.10%• Infosys Technologies Ltd 77.75 4.74%• Wipro Ltd 55.62 3.39%

Satyam Computer Services Ltd 22.02 1.34%HCL Technologies Ltd 16.18 0.99%Telecom Services 203.38 12.40%Videsh Sanchar Nigam Ltd 9.39 0.57%Mahanagar Telephone Nigam Ltd 6.82 0.42%

• Bharti Airtel Ltd 114.00 6.95%• Reliance Communications Ventures Ltd 73.17 4.46%

Nifty Futures 74.84 4.56%Cash, Call, CBLO & Reverse Repo 243.90 14.86%Other Current Assets (242.97) -14.80%Total Net Assets 1,641.09 100.00%



Rs. 10000 invested at inception: Index Fund Vs S&P CNX Nifty

CAGR – Index Fund : 29.06%; Benchmark : 27.65%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is S&P CNXNifty. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.









9.06%

41.76%45.45%

34.43%29.06%

8.63%

39.88% 42.53%33.07%

27.65%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Index Fund S&P CNX Nifty

Rs 38266.00

Rs 36117.37

7,708

12,70817,708

22,708

27,708

32,70837,708

42,708

Feb-

02M

ay-0

2Au

g-02

Nov

-02

Feb-

03M

ay-0

3Au

g-03

Nov

-03

Feb-

04M

ay-0

4Au

g-04

Nov

-04

Feb-

05M

ay-0

5Au

g-05

Nov

-05

Feb-

06M

ay-0

6Au

g-06

Nov

-06

Feb-

07M

ay-0

7

Index Fund S&P CNX Nifty

15.56%

13.51%

12.40%

9.05%

8.95%

8.51%

4.97%

4.68%

4.07%

3.29%

2.74%

2.41%

2.05%

1.11%

1.03%

0.59%

0.46%

0.00% 5.00% 10.00% 15.00% 20.00%

Software

Petroleum Products

Telecom Services

Industrial Capital

Banks

Oil


Auto

Ferrous Metals

Pharmaceuticals

Non-Ferrous Metals

Cement

Finance

Gas

Power


Chemicals

17



Portfolio

SPIcE FundIndex Fund

Snapshot:Fund Manager : Yogesh BhattInvestment Horizon: 5 years & moreInception date: 10-01-2003Fund Size: Rs. 0.80 croresNAV (As on 31-May-2007): Rs. 149.0809**Expense Ratio (6 Months avg. Dec 06-May 07): 0.80%


WHY SHOULD ONE INVEST?Long term investment of funds for capital appreciation by replicating the BSE Sensitive Index

Auto 4.19 5.22%

Tata Motors Ltd 1.47 1.83%

Bajaj Auto Ltd 1.31 1.63%

Maruti Udyog Ltd 0.79 0.99%

Hero Honda Ltd 0.62 0.77%

Banks 12.11 15.12%

• ICICI Bank Ltd 6.97 8.70%

• State Bank of India Ltd 2.69 3.36%

HDFC Bank Ltd 2.45 3.06%

Cement 3.24 4.04%

Grasim Industries Ltd 1.43 1.78%

Gujarat Ambuja Cement Ltd 1.01 1.26%

Associated Cement Companies Ltd 0.80 1.00%

Consumer Non-Durable 5.52 6.89%

• ITC Limited 3.63 4.53%

Hindustan Lever Ltd 1.89 2.36%

Ferrous Metals 2.16 2.70%

Tata Steel Ltd 2.16 2.70%

Finance 3.59 4.48%

• HDFC Ltd 3.59 4.48%

Industrial Capital Goods 6.29 7.85%

• Larsen & Toubro Limited 4.28 5.34%

Bharat Heavy Electricals Ltd 2.01 2.51%

Non-Ferrous Metals 1.04 1.30%

Hindalco Industries Ltd 1.04 1.30%

Oil 3.29 4.11%

• Oil & Natural Gas Company Ltd 3.29 4.11%

Petroleum Products 10.33 12.89%

• Reliance Industries Ltd 10.33 12.89%

Pharmaceuticals 2.47 3.08%

Cipla Ltd 0.93 1.16%

Ranbaxy Laboratories Ltd 0.85 1.06%

Dr. Reddy’s Laboratories Ltd 0.69 0.86%

Power 2.37 2.96%

National Thermal Power Corporation Ltd 1.65 2.06%

Reliance Energy Ltd 0.72 0.90%

Software 13.67 17.06%

• Infosys Technologies Ltd 7.85 9.80%

Satyam Computer Services Ltd 2.49 3.11%

Tata Consultancy Services Ltd 1.99 2.48%

Wipro Ltd 1.34 1.67%

Telecom Services 7.79 9.73%

• Bharti Airtel Ltd 4.74 5.92%

• Reliance Communications Ventures Ltd 3.05 3.81%

Cash, Call, CBLO & Reverse Repo 6.40 7.99%

Other Current Assets (4.33) -5.42%

Total Net Assets 80.13 100.00%• Top Ten Holdings


Rs. 10000 invested at inception: SPICE Vs BSE Sensitive Index

CAGR – SPIcE Fund : 40.43%; Benchmark : 39.64%Past performance may or may not be sustained in future.

Sector Allocation*

*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is BSE SENSEXIndex.For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

Company/Issuer Mkt Value (Rs. Lakh) % to NAV






6.21%

40.37%

45.61%40.43%

6.19%

39.87%45.11%

39.64%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%

Last6 Months

Last1 years

Last3 years

SinceInception

SPIcE Fund BSE SENSEX

Rs 44382.52

Rs 43300.10

8,65513,65518,65523,65528,65533,65538,65543,65548,655

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

SPIcE Fund BSE SENSEX

17.06%

15.12%

12.89%

9.73%

7.85%

6.89%

5.22%

4.48%

4.11%

4.04%

3.08%

2.96%

2.70%

1.30%

0.00% 5.00% 10.00% 15.00% 20.00%

Software

Banks

Petroleum Products

Telecom Services



Auto

Finance

Oil

Cement

Pharmaceuticals

Power

Ferrous Metals

Non-Ferrous Metals

18

Quantitative Indicators – Debt Component Quantitative Indicators – Equity Component

Average Maturity : 2.13 yearsModified Duration : 1.43 yearsYield To Maturity : 8.78%

Average P/E : 29Average P/BV : 4.69Average Dividend Yield : 0.96



1 Year SIP 30-Jun-06 12,000.00 645.83 12,438.75 8.09%3 Year SIP 29-Jun-04 36,000.00 2,154.09 41,487.99 9.96%5 Year SIP 28-Jun-02 60,000.00 3,963.19 76,331.44 9.87%Since Inception 10-Nov-00 80,000.00 5,781.72 111,356.51 10.00%

Past performance may or may not be sustained in future. Assume Rs. 1000 invested every month.

ICICI Prudential Monthly Income Plan

Snapshot:Fund Managers: Equity : Prashant Kothari

Debt : Chaitanya PandeIndicative Investment Horizon: 1 yr & aboveInception date: 10-11-2000Fund Size: Rs. 581.85 croresNAV (As on 31-May-2007): Cumulative option : Rs. 19.2601**Expense Ratio (6 Months avg. Dec 06-May 07): 1.94%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Medium term investment in a portfolio of debtand equity (upto 15%) for capital appreciation.

Rs. 10000 invested at inception*: MIP Vs Crisil MIP Blended Index


Rating Profile (as % of debt holding)

*Benchmark start date : 31-03-2002. CAGR – MIP: 9.98%; Benchmark :8.99%. Benchmark is Crisil MIP Blended Index. Past performance may or maynot be sustained in future.

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIPBlended Index. Start date: 31/3/02. For computation of returns the allotmentNAV has been taken as Rs. 10.00. Past performance may or may not besustained in future.

Equity Holdings 8,768.44 15.08%Bharti Airtel Ltd Telecom Services 1,146.49 1.97%Tata Consultancy Services Ltd Software 633.66 1.09%ICICI Bank Ltd Banks 623.18 1.07%Infosys Technologies Ltd Software 600.15 1.03%ICI India Ltd Consumer Non-Durable 515.19 0.89%3i Infotech Ltd Software 465.15 0.80%Deccan Chronicle Holdings Ltd Media & Entertainment 410.62 0.71%ITC Limited Consumer Non-Durable 395.04 0.68%Firstsource Solutions Ltd Software 391.57 0.67%Exide Industries Ltd Auto Ancillaries 369.20 0.63%Pantaloon Retail (India) Ltd Retailing 323.25 0.56%Trent Ltd Retailing 300.63 0.52%Andhra Bank Ltd Banks 287.76 0.49%Patel Engineering Ltd Construction 281.65 0.48%Cadila Healthcare Ltd Pharmaceuticals 267.68 0.46%Aventis Pharma Ltd Pharmaceuticals 231.95 0.40%Proctor & Gamble Hygiene andHealthcare Limited Consumer Non-Durable 192.94 0.33%Wipro Ltd Software 190.30 0.33%Mahindra & Mahindra Ltd Auto 189.36 0.33%Siemens India Ltd Industrial Capital Goods 166.15 0.29%Punjab National Bank Ltd Banks 133.96 0.23%AIA Engineering Ltd Industrial Products 53.83 0.09%Nifty Futures 598.73 1.03%Debt Holdings 47,373.76 81.41%PSU/PFI Bonds 12,165.70 20.91%

• Power Finance Corporation Ltd AAA 4,790.06 8.23%• Nabard AAA 4,041.19 6.95%

Infrastructure Development Finance Corp. AAA 2,385.26 4.10%Export Import Bank of India Ltd AAA 949.19 1.63%Private Corporate Securities 30,520.32 52.45%

• Sundaram Finance Ltd AAA 5,000.00 8.59%• PTC Credit Asset Trust Series HSBC F1+SO 3,531.31 6.07%• PTC IBL Trust IndusInd Bank AAA(SO) 2,753.82 4.73%

TGS Investment & Trade Pvt. Ltd. A1+ 2,500.00 4.30%GE Countrywide Finacial Services Ltd AAA 2,500.00 4.30%PTC Birla Home Finance GECSI AA(SO) 2,500.00 4.30%Mahindra & Mahindra Financial Services Ltd AA+ 2,000.00 3.44%PTC RPS Tata Teleservices AAA(SO) 1,658.82 2.85%PTC Hero Motors Ltd A1+(SO) 1,200.00 2.06%Tata Sons Ltd AAA 1,194.77 2.05%PTC IPGE Loan Trust GECapital Services India Ltd F1+SO 1,105.04 1.90%DSP Merill Lynch Capital Ltd P1+ 1,000.00 1.72%HDFC Bank Ltd AAA 999.90 1.72%UTI Bank Ltd AAA 886.76 1.52%PTC Shriram Transport F1+ 605.93 1.04%PTC Citi Fleet Trust Citibank AAA(SO) 546.65 0.94%HDFC Ltd AAA 298.21 0.51%PTC TAS Trust Tata Sons A1+(SO) 112.98 0.19%PTC RTL Trust Centurion Bank AAA(SO) 107.99 0.19%India Infrastructure Developers Ltd A1+(SO) 18.14 0.03%Government Securities 987.70 1.70%8.33% GOI 2036 Sovereign 987.70 1.70%CPs, CDs and Term Deposits 3,348.74 5.75%UTI Bank Ltd P1+ 2,490.00 4.28%ICICI Bank Ltd P1+ 811.00 1.39%Kotak Mahindra Bank Ltd P1+ 47.74 0.08%Cash, Call, CBLO & Reverse Repo 351.30 0.60%Other Current Assets 2,042.72 3.51%

Total Net Assets 58,184.92 100.00%• Top Five Holdings

PortfolioCompany/Issuer Sector/Rating Mkt Value (Rs. Lakh) % to NAV

Maturity Profile (as % of debt holding)

(An open ended fund. Monthly income is not assured and is subject to the availability of distributable surplus.)

% Unlisted Bonds : 22.07%


Style Box:

Debt Equity

47.70%

18.50%

14.49%

10.82%

4.13%

2.36%

2.00%

0.00% 15.00% 30.00% 45.00% 60.00%

<182 days

3-5 years

1-3 years

182 days - 1 year

Other Current Assets

5-10 years

> 10 years

2.13%

8.57%10.33% 10.09% 10.51%

2.11%

8.88%8.19%

9.46%

0.00%

2.00%

4.00%6.00%

8.00%

10.00%

12.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Monthly Income Plan Crisil MIP Blended index

Rs 16346.78

Rs 15595.96

9,823

10,823

11,823

12,823

13,823

14,823

15,823

16,823

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Monthly Income Plan Crisil MIP Blended index

Sovereign Securities2.00%

AA and Equivalent

9.11%

Call,Current Assets and

Reverse Repos4.84%

AAA and Equivalent84.05%

19

Performance Record* - Cumulative option

SIP Returns As on 31-May-2007


1 Year SIP 30-Jun-06 12,000.00 857.18 12,583.23 10.80%3 Year SIP 29-Jun-04 36,000.00 2,979.95 43,745.07 13.80%Since Inception 30-Mar-04 40,000.00 3,384.04 49,677.03 13.74%

Sector Allocation (as % of the equity portfolio)*

Quantitative Indicators – Equity Component


Quantitative Indicators – Debt Component

Average Maturity : 0.94 yearsModified Duration : 0.80 yearsYield To Maturity : 7.78%% Unlisted Bonds : 12.67%

Rating Profile (as % of debt holdings)

ICICI Prudential Income Multiplier Fund

Snapshot:Fund Managers : Equity : Prashant Kothari

Debt : Chaitanya PandeIndicative Investment Horizon: 1 yr & aboveInception date: 30-03-2004Fund Size: Rs. 464.00 croresNAV (As on 31-May-2007):Cumulative option: Rs. 14.6798 Dividend option: Rs. 11.9275**Expense Ratio (6 Months avg. Dec 06-May 07): 2.01%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?Medium term investment in a portfolio of debt and

equity (upto 30%) for capital appreciation.

Rs. 10000 invested at inception: IMP Vs Crisil MIP Blended Index

CAGR – Income Multiplier Fund : 12.87%; Benchmark : 6.91%Benchmark is Crisil MIP Blended Index.Past performance may or may not be sustained in future.

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIPBlended Index. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.

Equity Holdings 11,489.15 24.77%Bharti Airtel Ltd Telecom Services 1,622.92 3.50%Tata Consultancy Services Ltd Software 959.91 2.07%ICI India Ltd Consumer Non-Durable 753.51 1.62%ICICI Bank Ltd Banks 599.29 1.29%Exide Industries Ltd Auto Ancillaries 585.34 1.26%Marico Industries Ltd Consumer Non-Durable 582.46 1.26%Pidilite Industries Ltd Consumer Non-Durable 576.30 1.24%Trent Ltd Retailing 528.85 1.14%Cadila Healthcare Ltd Pharmaceuticals 453.93 0.98%Infosys Technologies Ltd Software 407.84 0.88%Blue Star Ltd Consumer Durables 405.08 0.87%Finolex Cables Ltd Industrial Products 385.88 0.83%Siemens India Ltd Industrial Capital Goods 383.43 0.83%Pantaloon Retail (India) Ltd Retailing 370.75 0.80%Subros Ltd Auto Ancillaries 327.20 0.71%Megasoft Ltd Software 325.39 0.70%Vimta Labs Ltd Healthcare Services 308.47 0.66%Proctor & Gamble Hygiene andHealthcare Limited Consumer Non-Durable 293.27 0.63%Karur Vysya Bank Ltd Banks 278.17 0.60%Punjab National Bank Ltd Banks 267.93 0.58%Glaxo Smithkline Pharma Ltd Pharmaceuticals 264.83 0.57%Wipro Ltd Software 244.67 0.53%Mahindra & Mahindra Ltd Auto 227.30 0.49%FDC Ltd Pharmaceuticals 198.00 0.43%Alembic Ltd Pharmaceuticals 138.43 0.30%Debt Holdings 34,490.14 74.37%PSU/PFI Bonds 4,874.90 10.51%

• Nabard AAA 2,494.56 5.38%Infrastructure Development FinanceCorporation AAA 1,431.15 3.08%Export Import Bank of India Ltd AAA 949.19 2.05%Private Corporate Securities 22,118.54 47.70%

• PTC Credit Asset Trust Series HSBC F1+SO 4,035.78 8.70%• PTC Birla Home Finance GECSI AA(SO) 2,500.00 5.39%• Sundaram Finance Ltd AA+ 2,500.00 5.39%• CitiFinancial Consumer Finance India Ltd AAA 2,426.43 5.23%

PTC IBL Trust IndusInd Bank AAA(SO) 2,019.47 4.35%Tata Sons Ltd AAA 1,593.03 3.43%Rabo India Finance Ltd AAA 1,019.81 2.20%PTC Hero Motors Ltd A1+(SO) 1,000.00 2.16%Mahindra & Mahindra FinancialServices Ltd AA+ 1,000.00 2.16%DSP Merill Lynch Capital Ltd P1+ 1,000.00 2.16%TGS Investment & Trade Pvt. Ltd. A1+ 1,000.00 2.16%Kotak Mahindra Primus Ltd AA 809.94 1.75%Grasim Industries Ltd AAA 588.30 1.27%PTC RPS Tata Teleservices AAA(SO) 580.59 1.25%PTC TAS Trust Tata Sons A1+(SO) 45.19 0.10%Government Securities 25.81 0.06%8.15% GOI 2022 Sovereign 25.81 0.06%CPs, CDs and Term Deposits 2,927.00 6.31%UTI Bank Ltd P1+ 2,500.00 5.39%ICICI Bank Ltd P1+ 427.00 0.92%Cash, Call, CBLO & Reverse Repo 4,543.89 9.79%Other Current Assets 420.75 0.86%Total Net Assets 46,400.04 100.00%

• Top Five Holdings


Maturity Profile (as % of debt holdings)


Style Box:


EquityDebt

*Pertains to the equity positions only.

58.59%

20.39%

10.05%

9.68%

0.07%

1.21%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

1-3 years

182 days - 1 year

3-5 years


> 10 years

3.12%

11.43%

15.20%12.87%

2.11%

8.88% 8.19%6.91%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%

Last6 Months

Last1 years

Last3 years

SinceInception

Income Multiplier Crisil MIP Blended index

Rs 14702.88

Rs 12245.08

9,444

10,444

11,444

12,444

13,444

14,444

15,444

Apr-0

4Ju

n-04

Aug-

04O

ct-0

4De

c-04

Feb-

05Ap

r-05

Jun-

05Au

g-05

Oct

-05

Dec-

05Fe

b-06

Apr-0

6Ju

n-06

Aug-

06O

ct-0

6De

c-06

Feb-

07Ap

r-07

Income Multiplier Crisil MIP Blended index

19.20%

16.86%

14.13%

9.97%

9.18%

7.94%

7.83%

3.53%

3.36%

3.34%

2.68%

1.98%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00%


Software

Telecom Services

Banks

Pharmaceuticals

Auto Ancillaries

Retailing

Consumer Durables

Industrial Products


Healthcare Services

Auto



Reverse Repos14.22%

AA and Equivalent19.51%


20


The ✓ extending beyond the red portion represents the marginal change in the style of the portfolio.Equity allocation to large cap stocks has been increased to protect capital at current valuations.

Sector Allocation* (as % of equity portfolio)



1 Year SIP 30-Jun-06 12,000.00 317.45 13,497.97 28.52%3 Year SIP 30-Jun-04 36,000.00 1,259.53 53,555.22 29.13%5 Year SIP 28-Jun-02 60,000.00 3,058.90 130,064.43 32.51%Since Inception 31-Aug-01 70,000.00 4,019.21 170,896.81 31.53%

Figures as on 31st Aug, 2004Figures as on 31st Aug, 2004

ICICI Prudential Child Care Plan (Gift)WHY SHOULD ONE INVEST?

For your child between 1-13 years and seeking to saveover a long term horizon

Snapshot:Fund Managers: Equity : Munzal Shah

Debt : Pankaj KajiIndicative Investment Horizon: 6-17 yrsInception date: 31-08-2001Fund Size: Rs. 114.54 croresNAV (As on 31-May-2007) : Rs. 42.52**Expense Ratio (6 Months avg. Dec 06-May 07): 2.00%**This is a close approximation of the number.

Equity Holdings 7,838.75 68.46%• Containers Corporation of India Ltd Transportation 377.83 3.30%• Provogue (India) Ltd Textiles - Products 343.49 3.00%• Asian Paints Ltd Consumer Non-Durable 331.82 2.90%

Thermax Ltd Industrial Capital Goods 325.85 2.84%Megasoft Ltd Software 325.27 2.84%Federal Bank Ltd Banks 318.18 2.78%Aditya Birla Nuvo Ltd Textiles - Products 316.40 2.76%Indoco Remedies Ltd Pharmaceuticals 310.22 2.71%Bharti Airtel Ltd Telecom Services 297.24 2.60%Gillette India Ltd Consumer Non-Durable 295.41 2.58%Karur Vysya Bank Ltd Banks 286.92 2.51%Exide Industries Ltd Auto Ancillaries 276.90 2.42%ICICI Bank Ltd Banks 275.75 2.41%Tata Consultancy Services Ltd Software 254.06 2.22%ICI India Ltd Consumer Non-Durable 253.67 2.21%Marico Industries Ltd Consumer Non-Durable 252.28 2.20%3i Infotech Ltd Software 232.58 2.03%Vimta Labs Ltd Healthcare Services 229.30 2.00%Sintex Industries Ltd Industrial Products 226.25 1.98%Proctor & Gamble Hygiene andHealthcare Limited Consumer Non-Durable 216.09 1.89%Finolex Cables Ltd Industrial Products 210.14 1.83%ITC Limited Consumer Non-Durable 209.29 1.83%Orient Paper & Industries Ltd Cement 202.66 1.77%Geometric Software Solutions Ltd Software 200.52 1.75%Infosys Technologies Ltd Software 177.31 1.55%Sundaram Clayton Ltd Auto Ancillaries 174.75 1.53%Wipro Ltd Software 163.11 1.42%AIA Engineering Ltd Industrial Products 153.15 1.34%HOV Services Ltd Software 152.85 1.33%Pantaloon Retail (India) Ltd Retailing 150.85 1.32%Mahindra & Mahindra Ltd Auto 124.31 1.09%Forbes Gokak Ltd Textiles - Cotton 96.80 0.85%Kalyani Steels Ltd Ferrous Metals 42.42 0.37%Orbit Corporation Ltd Construction 27.88 0.24%Carborandum Universal Ltd Auto Ancillaries 3.64 0.03%Gujarat Apollo Equipments Ltd Industrial Capital Goods 3.56 0.03%Debt Holdings 3,405.90 29.74%Private Corporate Securities 2,269.50 19.82%

• TGS Investment & Trade Pvt. Ltd. A1+ 1,000.00 8.73%• DSP Merill Lynch Capital Ltd AAA(SO) 464.61 4.06%

Tata Sons Ltd AAA 238.95 2.09%GE Money Financial Services Ltd AAA 197.95 1.73%Reliance Industries Ltd AAA 196.72 1.72%PTC IBL Trust IndusInd Bank AAA(SO) 91.79 0.80%CitiFinancial Consumer Finance India Ltd AAA 39.30 0.34%Kotak Mahindra Primus Ltd AA 20.00 0.17%Titan Industries Ltd A 11.14 0.10%PTC TAS Trust Tata Sons A1+(SO) 9.04 0.08%CPs, CDs and Term Deposits 305.00 2.66%Allahabad Bank Ltd P1+ 300.00 2.62%ICICI Bank Ltd P1+ 5.00 0.04%Cash, Call, CBLO & Reverse Repo 831.40 7.26%Other Current Assets 208.93 1.80%Total Net Assets 11,453.58 100.00%


Rs. 10000 invested at inception*: CCP - Gift Vs Crisil Balanced Fund Index

*Benchmark start date - 31.03.2002. CAGR – CCP - Gift : 29.27%;Benchmark : 20.11%. Past performance may or may not be sustained infuture.



Style Box




*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilBalanced Fund Index and start date - 31.03.2002. For computation of returnsthe allotment NAV has been taken as Rs. 10.00. Past performance may ormay not be sustained in future.


Debt Equity

*Pertains to the equity positions only.

19.89%19.21%

11.24%8.42%

7.52%5.81%

4.82%4.21%3.96%3.79%

2.93%2.59%

1.92%1.59%

1.23%0.54%0.36%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00%

Consumer Non-DurableSoftware

BanksTextiles - ProductsIndustrial Products

Auto AncillariesTransportation

Industrial CapitalPharmaceuticals

Telecom ServicesHealthcare Services

CementRetailing

AutoTextiles - CottonFerrous Metals

Construction

70.82%

12.32%

10.77%

5.78%

0.31%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

1-3 years

182 days - 1 year


3-5 years

7.24%

21.62%

32.76% 31.64%28.62%

5.99%

25.29% 25.33%21.83%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Child Care Gift Crisil Balanced Fund Index

Rs 37661.65

Rs 25767.00

8,986

13,986

18,986

23,986

28,986

33,986

38,986

43,986

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Child Care Gift Crisil Balanced Fund Index

AA and Equivalent

0.55%


A and Equivalent

0.31%


Reverse Repos28.78%


Average Maturity : 0.47 yearModified Duration : 0.42 yearYield To Maturity : 7.44%



21


The ✓ extending beyond the red portion represents the marginal change in the style of the portfolio.Equity allocation to large cap stocks has been increased to protect capital at current valuations.




1 Year SIP 30-Jun-06 12,000.00 628.23 12,888.20 16.61%3 Year SIP 29-Jun-04 36,000.00 2,154.42 44,198.14 14.56%5 Year SIP 28-Jun-02 60,000.00 4,108.70 84,290.39 13.99%Since Inception 31-Aug-01 70,000.00 5,066.49 103,939.55 13.80%

Quantitative Indicators – Equity Component



Average Maturity : 0.67 yearModified Duration : 0.60 yearYield To Maturity : 8.34%% Unlisted Bonds : 23.32%



ICICI Prudential Child Care Plan (Study)

Snapshot:Fund Managers: Equity : Munzal Shah

Debt : Pankaj KajiIndicative Investment Horizon: 3-5 yrsInception date: 31-08-2001Fund Size: Rs. 29.95 croresNAV (As on 31-May-2007) : Rs. 20.5151**Expense Ratio (6 Months avg. Dec 06-May 07): 1.50%**This is a close approximation of the number.

WHY SHOULD ONE INVEST?For your child between 13-17 years and on the

threshold of higher studies


*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil MIPBlended Index and start date - 31.03.2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or may notbe sustained in future.

Equity Holdings 664.91 22.17%

Bharti Airtel Ltd Telecom Services 118.90 3.97%

HOV Services Ltd Software 50.16 1.67%

Gillette India Ltd Consumer Non-Durable 48.28 1.61%

Containers Corporation of India Ltd Transportation 45.67 1.52%

AIA Engineering Ltd Industrial Products 38.87 1.30%

Firstsource Solutions Ltd Software 34.54 1.15%

ING Vysya Bank Ltd Banks 33.88 1.13%

Provogue (India) Ltd Textiles - Products 32.10 1.07%

Tanla Solutions Ltd Software 31.91 1.07%

Marico Industries Ltd Consumer Non-Durable 31.60 1.05%

Karur Vysya Bank Ltd Banks 30.79 1.03%

Asian Paints Ltd Consumer Non-Durable 27.06 0.90%

Automobile Corporation of Goa Ltd Auto Ancillaries 25.79 0.86%

Federal Bank Ltd Banks 25.61 0.85%

Blue Star Ltd Consumer Durables 25.51 0.85%

Exide Industries Ltd Auto Ancillaries 23.08 0.77%

Trent Ltd Retailing 22.55 0.75%

3i Infotech Ltd Software 18.61 0.62%

Debt Holdings 2,289.94 76.45%

PSU/PFI Bonds 99.78 3.33%

Nabard AAA 99.78 3.33%

Private Corporate Securities 1,338.42 44.69%

• Rabo India Finance Ltd AAA 267.44 8.93%

• Tata Sons Ltd AAA 238.95 7.98%

• DSP Merill Lynch Capital Ltd P1+ 197.86 6.61%

• GE Money Financial Services Ltd AAA 196.43 6.56%

• Reliance Industries Ltd AAA 186.88 6.24%

Kotak Mahindra Primus Ltd AA 129.99 4.34%

PTC TVS Finance AAA(SO) 83.98 2.80%

Trent Ltd AA- 36.89 1.23%

CPs, CDs and Term Deposits 616.54 20.58%

UTI Bank Ltd P1+ 294.88 9.84%

Kotak Mahindra Bank Ltd P1+ 191.66 6.40%

State Bank of Hyderabad Ltd P1+ 130.00 4.34%


Other Current Assets 40.64 1.38%





Style Box:

Rs. 10000 invested at inception*: CCP - Study Vs Crisil MIP Blended Index

*Benchmark start date - 31.03.2002.CAGR – CCP - Study : 13.01%; Benchmark : 8.99%.Past performance may or may not be sustained in future.

Debt Equity

66.52%

30.16%

1.74%

1.58%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

1-3 years


3-5 years

6.69%

11.70%13.86% 13.68% 13.31%

2.11%

8.88% 8.19%9.46%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%16.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Child Care Study Crisil MIP Blended index

Rs 18803.94

Rs 15595.96

9,72110,72111,72112,72113,72114,72115,72116,72117,72118,72119,721

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Child Care Study Crisil MIP Blended index

AA and Equivalent

7.16%


Reverse Repos11.84%


22

Performance Record *- Retail Growth Option




Rating Profile (as % of total debt components)


ICICI Prudential Equity & Derivatives FundIncome Optimiser Plan

WHY SHOULD ONE INVEST?Generate low volatility returns by investing in mix of cash equities, equity

derivatives and debt market instruments - relatively more conservative - 65%to 80% in Equity and Equity Derivatives (unhedged exposure limited to 5%)

Snapshot:

Fund Managers: Equity : Yogesh BhattDebt : Chaitanya Pande

Inception date: 30-12-2006Fund Size: Rs. 1,182.86 croresNAV (As on 31-May-2007):

Retail Growth option : Rs. 10.56Inst. Growth option : Rs. 10.57Retail Dividend option : Rs. 10.56

**Expense Ratio (6 Months avg. Dec 06-May 07):Retail Option : 1.50%Inst. Option : 1.20%



Style Box

Debt Equity

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has beentaken as Rs. 10.00. Past performance may or may not be sustained in future.

Equity Holdings 6,429.07 5.44%Alfa-Laval (India) Ltd Industrial Capital Goods 5,625.19 4.76%BASF Ltd Chemicals 530.70 0.45%Hinduja TMT Technologies Ltd Software 273.18 0.23%Equity & Derivative Holdings 71,743.36 60.64% (71,826.72)State Bank of India Ltd Banks 7,597.36 6.42%State Bank of India Ltd- Futures -7,597.64Reliance Communications Ventures Ltd Telecom Services 7,433.65 6.28%Reliance Communications Ventures Ltd- Futures -7,516.75Reliance Capital Finance Ltd Finance 6,172.48 5.22%Reliance Capital Finance Ltd- Futures -6,241.10Punjab National Bank Ltd Banks 5,854.70 4.95%Punjab National Bank Ltd- Futures -5,848.69Tata Consultancy Services Ltd Software 3,555.57 3.01%Tata Consultancy Services Ltd- Futures -3,577.05Gujarat Ambuja Cement Ltd Cement 3,145.02 2.66%Gujarat Ambuja Cement Ltd- Futures -3,165.82Tata Motors Ltd Auto 2,350.68 1.99%Tata Motors Ltd- Futures -2,308.69Reliance Industries Ltd Petroleum Products 2,001.59 1.69%Reliance Industries Ltd- Futures -2,023.55Punj Llyod Ltd Construction 1,998.53 1.69%Punj Llyod Ltd- Futures -2,007.73India Cements Ltd Cement 1,915.84 1.62%India Cements Ltd- Futures -1,938.37Hindalco Industries Ltd Non-Ferrous Metals 1,837.85 1.55%Hindalco Industries Ltd- Futures -2,328.74Industrial Development Bank of India Banks 1,771.97 1.50%Industrial Development Bank of India- Futures -1,790.64Divis Laboratories Ltd Pharmaceuticals 1,708.78 1.44%Divis Laboratories Ltd- Futures -1,713.43Bharti Airtel Ltd Telecom Services 1,698.50 1.44%Bharti Airtel Ltd- Futures -1,677.40Tata Steel Ltd Ferrous Metals 1,647.07 1.39%Tata Steel Ltd- Futures -1,625.70Bank of Baroda Ltd Banks 1,513.04 1.28%Bank of Baroda Ltd- Futures -1,505.08Mahanagar Telephone Nigam Ltd Telecom Services 1,407.14 1.19%Mahanagar Telephone Nigam Ltd- Futures -1,425.08Tata Tea Ltd Consumer Non-Durable 1,402.08 1.19%Tata Tea Ltd- Futures -1,418.76GMR Infrastructure Ltd Construction 1,353.06 1.14%GMR Infrastructure Ltd- Futures -1,370.20Sesa Goa Ltd Ferrous Metals 1,352.58 1.14%Sesa Goa Ltd- Futures -603.57Century Textiles & Industries Ltd Cement 1,322.82 1.12%Century Textiles & Industries Ltd- Futures -1,338.12Satyam Computer Services Ltd Software 1,172.87 0.99%Satyam Computer Services Ltd- Futures -1,173.00Jai Prakash Associates Ltd Construction 1,149.27 0.97%Jai Prakash Associates Ltd- Futures -1,152.68Union Bank of India Ltd Banks 1,091.86 0.92%Union Bank of India Ltd- Futures -1,095.05Titan Industries Ltd Consumer Non-Durable 864.39 0.73%Titan Industries Ltd- Futures -874.34Kotak Mahindra Bank Ltd Banks 824.68 0.70%Kotak Mahindra Bank Ltd- Futures -831.31Mahindra & Mahindra Ltd Auto 805.87 0.68%Mahindra & Mahindra Ltd- Futures -815.02Praj Industries Ltd Industrial Capital Goods 696.77 0.59%Praj Industries Ltd- Futures -705.99Mphasis BFL Software Ltd Software 676.53 0.57%Mphasis BFL Software Ltd- Futures -683.82Nagarjuna Construction Company Ltd Construction 565.99 0.48%Nagarjuna Construction Company Ltd- Futures -573.53CESC Ltd Power 539.36 0.46%CESC Ltd- Futures -544.40Hindustan Construction Co. Ltd Construction 508.83 0.43%Hindustan Construction Co. Ltd- Futures -516.50UTI Bank Ltd Banks 465.71 0.39%UTI Bank Ltd- Futures -467.09Gateway Distriparks Ltd Transportation 391.72 0.33%Gateway Distriparks Ltd- Futures -395.71Infosys Technologies Ltd Software 380.85 0.32%Infosys Technologies Ltd- Futures -382.72Dr. Reddy’s Laboratories Ltd Pharmaceuticals 323.58 0.27%Dr. Reddy’s Laboratories Ltd- Futures -327.03Matrix Laboratories Ltd Pharmaceuticals 305.50 0.26%Matrix Laboratories Ltd- Futures -308.10Bombay Dyeing & Manufacturing Co. Ltd Textiles - Products 274.12 0.23%Bombay Dyeing & Manufacturing Co. Ltd- Futures -277.40Aban Lloyd Chiles Offshore Ltd Industrial Capital Goods 261.00 0.22%Aban Lloyd Chiles Offshore Ltd- Futures -264.40Unitech Ltd Construction 227.86 0.19%Unitech Ltd- Futures -229.60Bata India Ltd Consumer Non-Durable 193.35 0.16%Bata India Ltd- Futures -195.73Colgate Palmolive (India) Ltd Consumer Non-Durable 182.93 0.15%Colgate Palmolive (India) Ltd- Futures -184.39Corporation Bank Ltd Banks 147.05 0.12%Corporation Bank Ltd- Futures -146.16Lanco Infratech Ltd Industrial Capital Goods 136.32 0.12%Lanco Infratech Ltd- Futures -138.42Bank of India Banks 120.07 0.10%Bank of India- Futures -120.67Polaris Software Lab Ltd Software 102.14 0.09%Polaris Software Lab Ltd- Futures -103.46I-Flex Solutions Ltd Software 78.99 0.07%I-Flex Solutions Ltd- Futures -80.00SRF Ltd Textiles - Synthetic 65.81 0.06%SRF Ltd- Futures -66.74Lupin Ltd Pharmaceuticals 57.26 0.05%Lupin Ltd- Futures -57.84Great Eastern Shipping Co. Ltd Transportation 50.67 0.04%Great Eastern Shipping Co. Ltd- Futures -51.37Bharat Forge Ltd Industrial Products 32.83 0.03%Bharat Forge Ltd- Futures -33.17Parsvanath Developers Ltd Construction 8.87 0.01%Parsvanath Developers Ltd- Futures -8.97Debt Holdings 43,320.31 36.63%Private Corporate Securities 6,000.00 5.08%Kotak Mahindra Primus Ltd AA+ 5,000.00 4.23%LIC Housing Finance Ltd AAA 1,000.00 0.85%CPs, CDs and Term Deposits 20,824.75 17.60%ICICI Bank Ltd P1+ 20,480.00 17.31%UTI Bank Ltd P1+ 170.00 0.14%Allahabad Bank Ltd P1+ 150.00 0.13%Yes Bank P1+ 24.75 0.02%Cash, Call, CBLO & Reverse Repo 16,495.56 13.95%Other Current Assets (3,206.61) -2.71%Total Net Assets 118,286.13 100.00%

PortfolioCompany/Issuer Sector/Rating Mkt Value % to NAV Mkt Value (Rs.

(Rs. Lakh) Lakh) - Futures

Income Optimiser Crisil Liquid Fund Index

5.60%

3.79%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%

Since Inception

98.78%

-0.15%

1.36%

-40.00% 0.00% 40.00% 80.00% 120.00%

182 days - 1year

<182 days

Other Current

Assets



Reverse Repos33.12%


23

Performance Record *- Retail Growth Option






ICICI Prudential Equity & Derivatives FundWealth Optimiser Plan

Snapshot:

Fund Managers: Equity : Nimesh ChandanDebt : Chaitanya Pande

Inception date: 30-12-2006Fund Size: Rs. 1,162.87 croresNAV (As on 31-May-2007):



WHY SHOULD ONE INVEST?Generate low volatility returns by investing in mix of cash equities, equity

derivatives and debt market instruments - relatively less conservative - 65% to100% in Equity and Equity Derivatives (unhedged exposure limited to 80%)


Style Box:Debt Equity

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilBalanced Fund. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.

Equity Holdings 51,703.15 44.43%Reliance Industries Ltd Petroleum Products 4,924.64 4.23%Oil & Natural Gas Company Ltd Oil 3,573.04 3.07%Tata Consultancy Services Ltd Software 3,075.29 2.64%ICICI Bank Ltd Banks 2,342.45 2.01%Bharti Airtel Ltd Telecom Services 2,292.98 1.97%Larsen & Toubro Limited Industrial Capital Goods 2,009.90 1.73%Infosys Technologies Ltd Software 1,519.57 1.31%Grasim Industries Ltd Cement 1,509.56 1.30%State Bank of India Ltd Banks 1,475.48 1.27%United Phosphorus Ltd Pesticides 1,439.40 1.24%National Thermal Power Corporation Ltd Power 1,401.14 1.20%Tata Steel Ltd Ferrous Metals 1,340.52 1.15%3i Infotech Ltd Software 1,317.93 1.13%HDFC Ltd Finance 1,317.82 1.13%Siemens India Ltd Industrial Capital Goods 1,311.29 1.13%HCL Technologies Ltd Software 1,232.28 1.06%Cummins India Ltd Industrial Products 1,220.80 1.05%Zee Entertainment Enterprises Ltd Media & Entertainment 1,191.87 1.02%Aditya Birla Nuvo Ltd Textiles - Products 1,187.07 1.02%Cambridge Solutions Ltd Hardware 1,062.07 0.91%Dr. Reddy’s Laboratories Ltd Pharmaceuticals 1,035.44 0.89%Bharat Heavy Electricals Ltd Industrial Capital Goods 979.37 0.84%Maruti Udyog Ltd Auto 972.35 0.84%Pantaloon Retail (India) Ltd Retailing 957.68 0.82%Bharat Electonics Ltd Industrial Capital Goods 939.84 0.81%ITC Limited Consumer Non-Durable 936.94 0.81%Hindustan Lever Ltd Consumer Non-Durable 915.30 0.79%HT Media Ltd Media & Entertainment 880.84 0.76%Glenmark Pharmaceuticals Ltd Pharmaceuticals 876.30 0.75%Crompton Greaves Ltd Industrial Capital Goods 860.65 0.74%Lupin Ltd Pharmaceuticals 853.56 0.73%Steel Authority of India Ltd Ferrous Metals 701.50 0.60%Punjab National Bank Ltd Banks 632.30 0.54%Andhra Bank Ltd Banks 621.56 0.53%Mphasis BFL Software Ltd Software 582.16 0.50%Reliance Communications Ventures Ltd Telecom Services 505.45 0.43%Glaxo Smothkline Pharma Ltd Pharmaceuticals 449.95 0.39%Wipro Ltd Software 429.52 0.37%Satyam Computer Services Ltd Software 348.76 0.30%Cipla Ltd Pharmaceuticals 326.18 0.28%BASF Ltd Chemicals 103.49 0.09%Sun Pharma Advanced Research Co. Ltd Pharmaceuticals 48.91 0.04%Equity & Derivative Holdings 29,105.89 25.04% (23,813.34)Reliance Industries Ltd Petroleum Products 3,954.66 3.40%Reliance Industries Ltd- Futures -3,980.41State Bank of India Ltd Banks 5,864.69 5.04%State Bank of India Ltd- Futures -5,864.91Infosys Technologies Ltd Software 4,808.75 4.14%Infosys Technologies Ltd- Futures -4,832.38Reliance Communications Ventures Ltd Telecom Services 1,514.33 1.30%Reliance Communications Ventures Ltd- Futures -1,531.26Punjab National Bank Ltd Banks 900.23 0.77%Punjab National Bank Ltd- Futures -899.30Dr. Reddy’s Laboratories Ltd Pharmaceuticals 453.01 0.39%Dr. Reddy’s Laboratories Ltd- Futures -457.84Divis Laboratories Ltd Pharmaceuticals 1,320.14 1.14%Divis Laboratories Ltd- Futures -1,323.74Sun Pharmaceuticals Limited Pharmaceuticals 1,153.00 0.99%Sun Pharmaceuticals Limited- Futures 328.67Satyam Computer Services Ltd Software 724.59 0.62%Satyam Computer Services Ltd- Futures -724.66Mahanagar Telephone Nigam Ltd Telecom Services 1,069.43 0.92%Mahanagar Telephone Nigam Ltd- Futures -1,083.06India Cements Ltd Cement 890.61 0.77%India Cements Ltd- Futures -901.08Mphasis BFL Software Ltd Software 183.84 0.16%Mphasis BFL Software Ltd- Futures -185.82Hindalco Industries Ltd Non-Ferrous Metals 683.98 0.59%Hindalco Industries Ltd- Futures -689.58Cairn India Ltd Oil 673.75 0.58%Cairn India Ltd- Futures -682.68Industrial Development Bank of India Banks 473.74 0.41%Industrial Development Bank of India- Futures -478.73Reliance Energy Ltd Power 269.34 0.23%Reliance Energy Ltd- Futures -270.45Indian Hotels Company Ltd Hotels 233.29 0.20%Indian Hotels Company Ltd- Futures -236.11Nifty Futures 3,934.52 3.38%Debt Holdings 42,925.96 36.92%CPs, CDs and Term Deposits 24,372.30 20.96%ICICI Bank Ltd P1+ 11,569.00 9.95%UTI Bank Ltd P1+ 5,897.70 5.07%Tata Power Company Ltd P1+ 4,917.23 4.23%Rabo India Finance Ltd P1+ 1,988.37 1.71%Cash, Call, CBLO & Reverse Repo 18,553.66 15.96%Other Current Assets (7,448.31) -6.39%


PortfolioCompany/Issuer Sector/Rating Mkt Value % to NAV Mkt Value (Rs.

(Rs. Lakh) Lakh) - Futures

120.99%

-20.99%

-50.00% 0.00% 50.00% 100.00% 150.00%

<182 days

Other Current

Assets


Reverse Repos31.30%


Wealth Optimiser Crisil Balanced Fund Index

8.30%

5.81%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Since Inception

24

Snapshot:Fund Managers :Equity : Yogesh Bhatt

Debt : Chaitanya PandeIndicative Investment Horizon: 6 months-1 yearInception date: 31-05-2005Fund Size: Rs. 490.56 croresNAV (As on 31-May-2007):



ICICI Prudential Blended Plan A Portfolio

Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value(Rs. Lakh) (Rs. Lakh)-Futures


Equity Holdings 32,242.05 65.72% (32,447.14)• Punjab National Bank Ltd Banks 3,408.01 6.95%

Punjab National Bank Ltd- Futures -3,404.51• Bank of Baroda Ltd Banks 2,991.35 6.10%

Bank of Baroda Ltd- Futures -2,975.61• Mahanagar Telephone Nigam Ltd Telecom Services 2,214.72 4.51%

Mahanagar Telephone Nigam Ltd- Futures -2,242.95• Century Textiles & Industries Ltd Cement 1,989.38 4.06%

Century Textiles & Industries Ltd- Futures -2,012.38• Tata Consultancy Services Ltd Software 1,933.36 3.94%

Tata Consultancy Services Ltd- Futures -1,945.04Reliance Communications Ventures Ltd Telecom Services 1,510.79 3.08%Reliance Communications Ventures Ltd- Futures -1,527.68Jai Prakash Hydro Power Ltd Power 472.39 0.96%Jai Prakash Hydro Power Ltd- Futures -467.93Essar Oil Ltd Oil 430.00 0.88%Essar Oil Ltd- Futures -436.24India Cements Ltd Cement 396.11 0.81%India Cements Ltd- Futures -400.77Polaris Software Lab Ltd Software 390.79 0.80%Polaris Software Lab Ltd- Futures -395.84Orchid Chemicals Ltd Pharmaceuticals 318.73 0.65%Orchid Chemicals Ltd- Futures -323.34Petronet LNG Ltd Gas 256.56 0.52%Petronet LNG Ltd- Futures -260.53UTI Bank Ltd Banks 250.97 0.51%UTI Bank Ltd- Futures -251.71Ultratech Cement Company Ltd Cement 224.51 0.46%Ultratech Cement Company Ltd- Futures -225.07Ashok Leyland Ltd Auto 223.81 0.46%Ashok Leyland Ltd- Futures -226.82IndusInd Bank Ltd Banks 213.71 0.44%IndusInd Bank Ltd- Futures -217.24Mahindra & Mahindra Ltd Auto 196.15 0.40%Mahindra & Mahindra Ltd- Futures -198.38SRF Ltd Textiles - Synthetic 192.74 0.39%SRF Ltd- Futures -195.45Matrix Laboratories Ltd Pharmaceuticals 182.13 0.37%Matrix Laboratories Ltd- Futures -183.68Patni Computer Systems Ltd Software 155.71 0.32%Patni Computer Systems Ltd- Futures -156.79Cummins India Ltd Industrial Products 150.77 0.31%Cummins India Ltd- Futures -152.32Mangalore Refineries & Petrochemicals Ltd Petroleum Products 139.34 0.28%Mangalore Refineries & Petrochemicals Ltd- Futures -141.20Chambal Fertilisers & Chemicals Ltd Fertilizers 126.68 0.26%Chambal Fertilisers & Chemicals Ltd- Futures -128.36Karnataka Bank Ltd Banks 80.77 0.16%Karnataka Bank Ltd- Futures -80.58State Bank of India Ltd Banks 1,248.74 2.55%State Bank of India Ltd- Futures -1,248.79Jindal Steel & Power Company Ltd Ferrous Metals 1,154.14 2.35%Jindal Steel & Power Company Ltd- Futures -1,157.05Unitech Ltd Construction 1,149.65 2.34%Unitech Ltd- Futures -1,158.44New Delhi Television Ltd Media & Entertainment 1,056.55 2.15%New Delhi Television Ltd- Futures -1,060.94Infosys Technologies Ltd Software 961.75 1.96%Infosys Technologies Ltd- Futures -966.48Reliance Capital Finance Ltd Finance 954.45 1.95%Reliance Capital Finance Ltd- Futures -965.06Parsvanath Developers Ltd Construction 922.96 1.88%Parsvanath Developers Ltd- Futures -932.71Industrial Development Bank of India Banks 920.15 1.88%Industrial Development Bank of India- Futures -929.85Union Bank of India Ltd Banks 855.37 1.74%Union Bank of India Ltd- Futures -857.87Industrial Finance Corporation of India Ltd Finance 842.99 1.72%Industrial Finance Corporation of India Ltd- Futures -853.76Gujarat Narmada Valley Fertilisers Co. Ltd Fertilizers 765.95 1.56%Gujarat Narmada Valley Fertilisers Co. Ltd- Futures -777.78LIC Housing Finance Ltd Finance 618.36 1.26%LIC Housing Finance Ltd- Futures -627.36Dr. Reddy’s Laboratories Ltd Pharmaceuticals 546.19 1.11%Dr. Reddy’s Laboratories Ltd- Futures -552.02Reliance Industries Ltd Petroleum Products 507.11 1.03%Reliance Industries Ltd- Futures -512.68Vijaya Bank Banks 475.11 0.97%Vijaya Bank- Futures -474.06Mphasis BFL Software Ltd Software 473.08 0.96%Mphasis BFL Software Ltd- Futures -478.18Shipping Corporation of India Ltd Transportation 66.70 0.14%Shipping Corporation of India Ltd- Futures -67.58Arvind Mills Ltd Textiles - Products 60.52 0.12%Arvind Mills Ltd- Futures -61.32Aban Lloyd Chiles Offshore Ltd Industrial Capital Goods 57.42 0.12%Aban Lloyd Chiles Offshore Ltd- Futures -58.17Punj Llyod Ltd Construction 52.16 0.11%Punj Llyod Ltd- Futures -52.40Cairn India Ltd Oil 46.59 0.09%Cairn India Ltd- Futures -47.21Reliance Energy Ltd Power 41.44 0.08%Reliance Energy Ltd- Futures -41.61Neyveli Lignite Corporation Ltd Power 15.19 0.03%Neyveli Lignite Corporation Ltd- Futures -15.40Debt Holdings 15,121.23 30.83%PSU/PFI Bonds 2,902.20 5.91%Infrastructure Development Finance Corporation AAA 954.10 1.94%Export Import Bank of India Ltd AAA 949.19 1.93%Union Bank of India Ltd AA 500.00 1.02%Nabard AAA 498.91 1.02%Private Corporate Securities 1,642.74 3.36%PTC TAS Trust Tata Sons A1+(SO) 311.81 0.64%DSP Merill Lynch Capital Ltd P1+ 200.00 0.41%Kotak Mahindra Primus Ltd AA 79.99 0.16%PTC Credit Asset Trust Series HSBC F1+SO 1,008.95 2.06%PTC TVS Finance AAA(SO) 41.99 0.09%CPs, CDs and Term Deposits 7,150.00 14.58%ICICI Bank Ltd P1+ 7,150.00 14.58%Cash, Call, CBLO & Reverse Repo 3,426.29 6.98%Other Current Assets 1,692.71 3.45%Total Net Assets 49,055.99 100.00%



* Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilShort Term Bond Fund Index. For Computation of returns the allotment NAVhas been taken as Rs 10.00. Past performance may or may not be sustainedin future.


Maturity Profile: (as % of total debt components)

Asset Allocation: (as % of Net Assets)



WHY SHOULD ONE INVEST?Opportunity to enhance returns from a blend of equity & equity arbitrage (atleast 51%)

and low volatility returns from a minimum debt exposure of 25% for a short time horizon

Unhedged Equity

Holdings0.00%

Debt Holdings34.28%

Hedged Equity

Holdings65.72%

75.64%

14.29%

10.06%

0.01%

0.00% 40.00% 80.00%

<182 days

3-5 years


1-3 years

4.99%

7.90% 8.01%

2.92%

6.10%5.28%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%


Blended Plan A Crisil Short Term Bond Fund Index



Reverse Repos30.43%

AA and Equivalent

3.45%

25


* Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilShort Term Bond Fund Index. For Computation of returns the allotment NAVhas been taken as Rs 10.00. Past performance may or may not be sustainedin future.



Maturity Profile: (as % of total debt components)

Snapshot:Fund Managers: Debt : Chaitanya Pande

Equity : Yogesh BhattIndicative Investment Horizon: 6 months-1 yearInception date: 31-05-2005Fund Size: Rs. 43.21 croresNAV (As on 31-May-2007):


**Expense Ratio (6 Months avg. Dec 06-May 07):Blended Plan B : 1.49%Blended Plan B - Inst.: 0.99%


ICICI Prudential Blended Plan BPortfolio

Company/Issuer Sector/Rating Mkt Value %NAV Mkt Value(Rs. Lakh) (Rs. Lakh)-Futures

Debt Holdings 4,225.32 97.78% 0.00


• Union Bank of India Ltd AA 500.00 11.57%

• Nabard AAA 498.91 11.55%

Power Finance Corporation Ltd AAA 0.96 0.02%


• PTC IBL Trust IndusInd Bank AAA(SO) 917.94 21.24%

• Tata Sons Ltd AAA 796.51 18.43%

• PTC Citi Fleet Trust Citibank AAA(SO) 770.34 17.83%

DSP Merill Lynch Capital Ltd P1+ 340.00 7.87%

PTC TVS Finance AAA(SO) 68.06 1.58%


ICICI Bank Ltd P1+ 319.00 7.38%







WHY SHOULD ONE INVEST?Generate low volaility returns from debt (atleast 51%) along with

an opportunity to enhance returns from equity arbitrage (maximum 49%)

46.52%

21.24%

2.21%

11.57%

18.46%

0.00% 20.00% 40.00% 60.00%

<182 days

182 days - 1 year

1-3 years

3-5 years


3.76%

6.74% 6.74%

2.92%

6.10%5.28%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%


Blended Plan B Crisil Short Term Bond Fund Index



Reverse Repos2.53%


26

SIP Return: As on 31-May-2007


1 Year SIP 30-Jun-06 12,000.00 367.28 13,365.32 25.90%3 Year SIP 30-Jun-04 36,000.00 1,503.33 54,706.18 30.80%5 Year SIP 28-Jun-02 60,000.00 3,630.97 132,131.00 33.20%Since Inception 3-Nov-99 92,000.00 6,993.89 254,507.66 26.35%



Average Maturity : 2.95 yearsModified Duration : 1.47 yearsYield To Maturity : 7.34%




Sector Allocation* (as % of equity portfolio)

Snapshot:Fund Managers: Equity : Deven Sangoi

Debt : Pankaj KajiIndicative Investment Horizon: 3 yrs & moreInception date: 03-11-1999Fund Size: Rs. 441.55 croresNAV (As on 31-May-2007):



WHY SHOULD ONE INVEST?Medium term investment of funds in a portfolio of

equity (minimum) 65% and debt for capital appreciation.

Rs. 10000 invested at inception*: Balanced Fund Vs Crisil Balanced Fund Index


*Benchmark start date - 31.03.2002. CAGR – Balanced Fund : 30.10%;Benchmark : 20.11%. Past performance may or may not be sustained infuture.

*Returns < 1 Year : Absolute, > = 1Year : CAGR. Benchmark - Crisil BalancedFund Index and start date - 31.03.2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or may notbe sustained in future.

Equity Holdings 32,841.82 74.39%• Reliance Industries Ltd Petroleum Products 3,473.42 7.87%• AIA Engineering Ltd Industrial Products 2,078.04 4.71%• Bharat Electonics Ltd Industrial Capital Goods 1,611.60 3.65%

Jain Irrigation Systems Ltd Industrial Products 1,465.65 3.32%ICICI Bank Ltd Banks 1,439.46 3.26%Oil & Natural Gas Company Ltd Oil 1,380.60 3.13%Bharti Airtel Ltd Telecom Services 1,361.77 3.08%Punjab National Bank Ltd Banks 1,127.47 2.55%HOV Services Ltd Software 1,121.81 2.54%Tata Consultancy Services Ltd Software 1,036.41 2.35%Grasim Industries Ltd Cement 1,019.85 2.31%Andhra Bank Ltd Banks 972.88 2.20%Steel Authority of India Ltd Ferrous Metals 948.29 2.15%CMC Ltd. Hardware 946.21 2.14%HCL Technologies Ltd Software 926.03 2.10%Bharat Heavy Electricals Ltd Industrial Capital Goods 922.45 2.09%IVRCL Infrastructure & Projects Ltd Construction 875.88 1.98%Bank of Baroda Ltd Banks 851.49 1.93%United Phosphorus Ltd Pesticides 837.61 1.90%Reliance Communications Ventures Ltd Telecom Services 835.76 1.89%Sun Pharmaceuticals Limited Pharmaceuticals 803.50 1.82%Sterlite Optical Technologies Ltd Industrial Products 760.66 1.72%Wipro Ltd Software 683.30 1.55%Sterlite Industries (India) Ltd Non-Ferrous Metals 681.51 1.54%Bharat Forge Utilities Ltd Industrial Capital Goods 658.44 1.49%Sundaram Clayton Ltd Auto Ancillaries 612.83 1.39%Tata Steel Ltd Ferrous Metals 586.25 1.33%Marico Industries Ltd Consumer Non-Durable 547.10 1.24%Dr. Reddy’s Laboratories Ltd Pharmaceuticals 449.53 1.02%Gokaldas Exports Ltd Textiles - Products 291.48 0.66%Sun Pharmaceuticals Limited-Futures Pharmaceuticals 217.46 0.49%Sun Pharma Advanced Research Co. Ltd Pharmaceuticals 34.08 0.08%Nifty Futures 1,283.00 2.91%Debt Holdings 13,781.00 31.21%PSU/PFI Bonds 4,674.08 10.58%

• Nabard AAA 3,242.93 7.34%Infrastructure Development FinanceCorporation AAA 1,431.15 3.24%Private Corporate Securities 3,781.33 8.56%

• Mahindra & Mahindra FinancialServices Ltd AA+ 2,000.00 4.53%Tata Sons Ltd AAA 955.82 2.16%PTC RPS Tata Teleservices AAA(SO) 746.47 1.69%Kotak Mahindra Primus Ltd AA 50.00 0.11%DSP Merill Lynch Capital Ltd P1+ 20.00 0.05%PTC TAS Trust Tata Sons A1+(SO) 9.04 0.02%Government Securities 987.70 2.24%8.33% GOI 2036 Sovereign 987.70 2.24%CPs, CDs and Term Deposits 1,608.00 3.65%Allahabad Bank Ltd P1+ 850.00 1.93%ICICI Bank Ltd P1+ 758.00 1.72%Cash, Call, CBLO & Reverse Repo 2,729.89 6.18%Other Current Assets (2,467.93) -5.60%Total Net Assets 44,154.89 100.00%





Style Box:Debt Equity

ICICI Prudential Balanced Fund

67.71%

17.68%

12.65%

-21.82%

8.73%

15.06%

-40.00% -20.00% 0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

182 days - 1 year

1-3 years

3-5 years

> 10 years


7.60%

23.65%

35.68%32.24%

18.58%

5.99%

25.29% 25.33% 21.83%

0.00%5.00%

10.00%15.00%20.00%25.00%30.00%35.00%40.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Balanced Fund Crisil Balanced Fund Index

Rs 38919.79

Rs 25767.00

8,986

13,986

18,986

23,986

28,986

33,986

38,986

43,986

Apr-

02Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-

04Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-

06Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Balanced Fund Crisil Balanced Fund Index

13.91%13.63%

11.93%11.01%

10.12%6.97%

4.86%4.77%

4.37%3.23%

3.00%2.78%2.65%

2.16%1.94%1.73%

0.92%

0.00% 4.00% 8.00% 12.00% 16.00%

BanksIndustrial Products

SoftwarePetroleum Products

Industrial Capital GoodsTelecom Services

Ferrous MetalsPharmaceuticals

OilCement

HardwareConstruction

PesticidesNon-Ferrous Metals

Auto AncillariesConsumer Non-Durable

Textiles - Products

27

INVESTMENT HORIZON 1 Month to 36 Months

ICICI Prudential Fixed Maturity Plan WHY SHOULD ONE INVEST?Those who have a fixed investment horizon

ranging from 1 month to 36 monthsFigures as on 31-May-2007

Fund Manager : Chaitanya Pande

PORTFOLIO

Company/Issuer Sector/ Mkt.Value % toRating (Rs.Lacs) NAV

ICICI Prudential FMP Series 34- 18 Months Plan

PSU/PFI Bonds 3,505.53 14.46%

Indian Railway Finance Corporation AAA 3,350.58 13.82%



GE Money Financial Services Ltd AAA 4,714.30 19.45%

Mahindra & Mahindra Financial Services Ltd AA+ 4,567.56 18.84%

DSP Merill Lynch Capital Ltd AAA(SO) 4,526.92 18.67%

Citicorp Maruti Finance Ltd AAA 4,423.26 18.25%

CitiFinancial Consumer Finance India Ltd AAA 1,474.65 6.08%


Other Current Assets 1,002.25 4.14%


ICICI Prudential FMPSeries 34 - 17 Month Plan


DSP Merill Lynch Capital Ltd AAA 1,185.18 17.63%


Sundaram Finance Ltd AAA 976.34 14.52%

GE Money Financial Services Ltd AA+ 893.48 13.29%

Ultratech Cement Company Ltd AA+ 873.44 12.99%

Rabo India Finance Ltd AAA 703.28 10.46%

GE Capital Services India Ltd AA+ 595.65 8.86%


ICICI Bank Ltd P1+ 17.00 0.25%




ICICI Prudential FMP Series 35 - 13 Month Plan B

PSU/PFI Bonds 4,040.16 5.39%

Infrastructure Development Finance Corporation AAA 4,040.16 5.39%


HDFC Ltd AAA 16,407.85 21.88%





CPs, CDs and Term Deposits 36,586.62 48.79%

Export Import Bank of India Ltd AAA 15,911.62 21.22%

UTI Bank Ltd P1+ 15,000.00 20.00%

ICICI Bank Ltd P1+ 5,675.00 7.57%




ICICI Prudential FMPSeries 35 - 13 Month Plan A


Rabo India Finance Ltd AAA 5,015.04 19.56%

Kotak Mahindra Primus Ltd AA 4,505.45 17.57%

Citicorp Maruti Finance Ltd AAA 3,582.64 13.97%

PTC UBL Trust DSP Merrill Lynch Capital Ltd F1+ 3,495.51 13.63%

L&T Finance Ltd AA+ 494.90 1.93%

Mahindra & Mahindra Financial Services Ltd AA+ 324.15 1.26%


ICICI Bank Ltd P1+ 5,000.00 19.50%

UTI Bank Ltd P1+ 2,500.00 9.75%




ICICI Prudential FMP Series 37 - 3 Month Plus Plan A


Union Bank of India Ltd P1+ 11,911.78 33.61%

UTI Bank Ltd P1+ 7,000.00 19.75%

ICICI Bank Ltd P1+ 7,000.00 19.75%

State Bank of Patiala Ltd P1+ 6,500.00 18.34%

Export Import Bank of India Ltd P1+ 2,164.78 6.11%




ICICI Prudential FMP Series 37 - 1 Year Plan A


HSBC Ltd F1+ 27,380.91 99.39%




ICICI Prudential FMP Series 34 - 1 Year Plan B

PSU/PFI Bonds 5,244.59 3.97%

PTC Power Finance Corporation Ltd AAA 4,124.82 3.12%

State Bank of India Ltd AAA 1,119.77 0.85%


HDFC Ltd AAA 14,528.71 10.98%

HDFC Bank Ltd AAA 11,875.00 8.98%

Cholamandalam Investment & Finance Co. Ltd AA 10,016.59 7.57%

Kotak Mahindra Bank Ltd AAA(SO) 9,051.19 6.84%


L&T Finance Ltd A1+(SO) 5,011.42 3.79%

PTC IL & FS Investmart Ltd AAA(SO) 4,576.69 3.46%

Mahindra & Mahindra Financial Services Ltd AA+ 260.80 0.20%


ICICI Bank Ltd P1+ 26,875.00 20.32%

Syndicate Bank Ltd P1+ 25,000.00 18.90%

Export Import Bank of India Ltd AAA 7,035.63 5.32%

HSBC Ltd F1+ 2,374.68 1.80%

Birla Home Finance Ltd A1+ 2,286.53 1.73%

Kotak Mahindra Bank Ltd P1+ 960.10 0.73%

Cholamandalam Investment & Finance Co. Ltd P1+ 665.83 0.50%





PSU/PFI Bonds 3,156.23 14.61%

Infrastructure Development Finance Corp. AAA 3,156.23 14.61%


HDFC Ltd AAA 4,237.58 19.61%





ICICI Bank Ltd P1+ 4,736.00 21.92%

Canara Bank Ltd P1+ 200.00 0.93%




ICICI Prudential FMP Series 37 - 3 Months Plus Plan B


Rabo India Finance Ltd P1+ 8,000.00 14.62%

GE Money Financial Services Ltd P1+ 8,000.00 14.62%


HDFC Bank Ltd P1+ 13,090.35 23.92%

IDBI Bank Ltd P1+ 11,431.17 20.89%


Allahabad Bank Ltd P1+ 5,307.31 9.70%

Kotak Mahindra Bank Ltd P1+ 2,653.70 4.85%




28








Jammu & Kashmir Bank Ltd AAA 3,571.61 20.12%

UTI Bank Ltd P1+ 3,500.00 19.71%

ICICI Bank Ltd P1+ 3,500.00 19.71%

State Bank of Bikaner & Jaipur Ltd P1+ 3,498.00 19.70%

IDBI Bank Ltd P1+ 3,174.24 17.88%





ICICI Prudential FMP 30 - 13 Mths Plan

PSU/PFI Bonds 3,342.72 14.62%

Nabard AAA 3,342.72 14.62%


Kotak Mahindra Primus Ltd P1+ 2,486.82 10.87%

PTC IPGE Loan Trust GE Capital Services India Ltd F1+SO 1,607.34 7.03%


GE Capital Services India Ltd P1+ 5,131.07 22.44%


Yes Bank P1+ 4,905.15 21.45%




PSU/PFI Bonds 3,831.25 9.11%



Kotak Mahindra Primus Ltd AA 5,999.00 14.27%


GE Capital Services India Ltd AAA 5,014.39 11.92%

Citicorp Finance (India) Ltd AAA 4,992.10 11.87%



Sundaram Finance Ltd AAA 1,464.51 3.48%

Ultratech Cement Company Ltd AA+ 582.29 1.38%

Citicorp Maruti Finance Ltd AAA 294.46 0.70%

DSP Merill Lynch Capital Ltd AAA(SO) 216.04 0.51%


ICICI Bank Ltd P1+ 8,320.00 19.79%





PSU/PFI Bonds 2,977.02 10.18%




DSP Merill Lynch Capital Ltd AAA(SO) 3,671.28 12.55%


L&T Finance Ltd AA+ 2,969.43 10.15%

Citicorp Finance (India) Ltd AAA 2,458.24 8.41%

GE Capital Services India Ltd AA+ 1,389.86 4.75%

GE Money Financial Services Ltd AA+ 1,092.03 3.73%


ICICI Bank Ltd P1+ 5,665.00 19.37%




ICICI Prudential FMP Series 35 - 1 Year Plan


CitiFinancial Consumer Finance India Ltd AAA(SO) 2,508.66 10.70%

HDFC Ltd AAA 1,601.20 6.83%

Citicorp Maruti Finance Ltd AAA 49.08 0.21%

Citicorp Finance (India) Ltd AAA 19.82 0.08%



American Express Bank Ltd P1+ 5,018.53 21.40%

HSBC Ltd F1+ 4,932.02 21.03%

Cholamandalam Investment & Finance Co. Ltd P1+ 4,104.45 17.50%




ICICI Prudential FMPSeries 37 - 3 Month Plan A


SBI Factors & Commercial Services Pvt Ltd A1+ 3,000.00 13.32%

Rabo India Finance Ltd P1+ 3,000.00 13.32%

CitiFinancial Consumer Finance India Ltd P1+ 2,000.00 8.88%


UTI Bank Ltd P1+ 4,300.00 19.10%

ICICI Bank Ltd P1+ 4,300.00 19.10%

Corporation Bank Ltd P1+ 4,300.00 19.10%

American Express Bank Ltd P1+ 1,075.65 4.78%



ICICI Prudential FMPSeries 37 - 3 Month Plan B


Cessna Garden Developers Pvt Ltd P1+SO 4,990.00 10.50%

JM Financial & InvestmentConsultancy Services Pvt. Ltd P1+ 4,100.00 8.62%

Indiabulls Financial Services Ltd P1+ 2,000.00 4.21%

TGS Investment & Trade Pvt. Ltd. A1+ 1,500.00 3.16%


State Bank of Bikaner & Jaipur Ltd P1+ 9,265.00 19.49%

ICICI Bank Ltd P1+ 9,250.00 19.46%


Indiabulls Financial Services Ltd AAA 2,968.80 6.25%

Alembic Ltd P1+ 1,984.46 4.17%

ING Vysya Bank Ltd P1+ 1,320.00 2.78%




ICICI Prudential FMPSeries 38 - 1 Yearly Plan A


Sundaram Finance Ltd A1+ 2,500.01 10.86%

Kotak Mahindra Bank Ltd AA 1,999.82 8.69%


Industrial Development Bank of India A1+ 9,080.54 39.45%

Allahabad Bank Ltd A1+ 2,285.92 9.93%

IDBI Bank Ltd P1+ 2,273.02 9.88%

Cash, Call, CBLO & Reverse Repo 1,438.90 6.25%



ICICI Prudential FMP Series 38 - 3 Months Plan A


Birla Global Finance Ltd A1+ 2,500.00 7.96%


Standard Chartered Bank Ltd P1+ 12,695.61 40.41%

ABN Amro Bank Ltd A1+ 7,389.61 23.52%

HDFC Ltd P1+ 4,920.71 15.66%


Industrial Development Bank of India P1+ 1,423.13 4.53%




29




ICICI Prudential FMPSeries 38 - 3 Month Plan B




Indian Bank Ltd A1+ 9,720.51 13.66%

GE Capital Services India Ltd P1+ 9,714.55 13.65%


HDFC Bank Ltd P1+ 9,696.55 13.63%

Standard Chartered Bank Ltd P1+ 9,685.54 13.61%



Indiabulls Financial Services Ltd P1+ 4,898.13 6.88%





ICICI Prudential FMPSeries 38 - 3 Month Plan C

PSU/PFI Bonds 1,500.00 12.18%

CanBank Factors Ltd P1+ 1,500.00 12.18%


Birla Global Finance Ltd A1+ 1,500.00 12.18%


State Bank of India Ltd P1+ 4,401.82 35.76%

Infrastructure Development Finance Corporation P1+ 224.80 1.83%




ICICI Prudential FMP 34 - 1 Year Plan A





DSP Merill Lynch Capital Ltd P1+ 2,275.36 14.07%

Hindalco Industries Ltd AAA 1,973.40 12.20%


UTI Bank Ltd P1+ 3,200.00 19.78%


ICICI Bank Ltd P1+ 2,500.00 15.46%




ICICI Prudential Hyrbid FMP - 13 Months

PSU/PFI Bonds 9,928.43 11.92%Infrastructure Development Finance Corporation AAA 9,928.43 11.92%Private Corporate Securities 23,802.41 28.57%HDFC Ltd AAA 13,891.41 16.67%PTC GE Capital Services India Ltd AAA(SO) 4,955.50 5.95%PTC GE Capital Services India Ltd AAA 4,955.50 5.95%CPs, CDs and Term Deposits 44,614.48 53.56%Industrial Development Bank of India P1+ 15,000.00 18.01%ICICI Bank Ltd P1+ 14,970.00 17.97%Allahabad Bank Ltd P1+ 14,500.00 17.41%Kotak Mahindra Bank Ltd P1+ 144.48 0.17%Cash, Call, CBLO & Reverse Repo 43.90 0.05%Other Current Assets 4,919.10 5.90%Total Net Assets 83,308.32 100.00%

PERFORMANCEPerformance Records for FMP- Retail Growth Plan

Scheme Name Date Period NAV *NAV as On Returns30-May-07

ICICI Prudential FMP 30 -13 Months 17-Jul-06 Since inception 10.0000 10.6524 6.52%

ICICI Prudential Hybrid FMP 30-Aug-06 Since inception 10.0000 10.5414 5.41%13 Months Plan

ICICI Prudential FMP Series 11-Nov-06 Since inception 10.0000 10.3888 3.89%34 - 1 Year Plan A

ICICI Prudential FMP Series 25-Nov-06 Since inception 10.0000 10.2365 2.36%34 - 18 Months Plan

ICICI Prudential FMP Series 23-Dec-06 Since inception 10.0000 10.2522 2.52% 34 - 17 Months Plan

ICICI Prudential FMP Series 22-Jan-07 Since inception 10.0000 10.2546 2.55%34 - 16 Months Plan

ICICI Prudential FMP Series 27-Feb-07 Since inception 10.0000 10.2633 2.63%34 - 15 Months Plan

ICICI Prudential FMP Series 9-Mar-07 Since inception 10.0000 10.2524 2.52%35 - 13 Months Plan A

ICICI Prudential FMP Series 9-Mar-07 Since inception 10.0000 10.2378 2.38%34 - 6 Months Plan

ICICI Prudential FMP Series 16-Mar-07 Since inception 10.0000 10.2248 2.25%35 - 13 Months Plan B

ICICI Prudential FMP Series 16-Mar-07 Since inception 10.0000 10.2231 2.23%37 - 3 Months Plan A

ICICI Prudential FMPSeries 23-Mar-07 Since inception 10.0000 10.2158 2.16%37 - 14 Months Plan

ICICI Prudential FMP Series 23-Mar-07 Since inception 10.0000 10.2137 2.14%37 - 3 Months Plus Plan - A

ICICI Prudential FMP Series 29-Mar-07 Since inception 10.0000 10.1946 1.95%34- 1 Year Plan B

ICICI Prudential FMP Series 29-Mar-07 Since inception 10.0000 10.1968 1.97%37 - 3 Months Plan B

ICICI Prudential FMP Series 30-Mar-07 Since inception 10.0000 10.1750 1.75%37 - 1 Year Plan A

ICICI Prudential FMP Series 19-Apr-07 Since inception 10.0000 10.1223 1.22%35 - 1 Year Plan

ICICI Prudential FMP Series 20-Apr-07 Since inception 10.0000 10.1124 1.12%38 - 3 Months Plan A

ICICI Prudential FMP Series 11-May-07 Since inception 10.0000 10.0490 0.49%38 - 3 Months Plan B

ICICI Prudential FMP Series 18-May-07 Since inception 10.0000 10.0347 0.35%38 - 1 Year Plan A

* NAV is declared on a weekly basis.

The units under ICICI Prudential FMP Series 38 - 3 Months Plan C were alloted on30-May-07and the NAV for the same would be declared on 06-Jun-07.

Returns >= 1 Year are CAGR, < 1 Year are Absolute. Note: For computation of returns theallotment NAV has been taken as Rs 10.00. Past performance may or may not be sustainedin the future.

Fund Size Rs. 8,580.67 Crores

30

ICICI Prudential Interval Fund WHY SHOULD ONE INVEST?Risk averse investors seeking returns on a held

to maturity basis.Figures as on 31-May-2007


INVESTMENT HORIZON 1 Month to 15 Months

PORTFOLIO

Company/Issuer Sector/ Mkt.Value % toRating (Rs.Lacs) NAV

ICICI Prudential Interval Fund-Mntly Int Plan I


GE Money Financial Services Ltd P1+ 2,430.22 28.99%

ABN Amro Bank Ltd P1+ 2,424.02 28.91%






ICICI Prudential Interval Fund-Mntly Int Plan II


Industrial Development Bank of India P1+ 486.94 33.49%

UCO Bank P1+ 486.30 33.44%

Essel Propack Ltd A1+ 485.29 33.37%



ICICI Prudential Interval Fund-Qtrly Int Plan I





State Bank of Mysore Ltd P1+ 5,329.37 16.29%

Edelweiss Securities Pvt Ltd P1+ 4,892.37 14.96%

State Bank of India Ltd P1+ 4,854.16 14.84%

UCO Bank P1+ 2,431.48 7.43%

HSBC Ltd F1+ 2,368.25 7.24%




PERFORMANCEPerformance Records for FMP- Retail Growth Plan

Scheme Name Date Period NAV NAV as On Returns31-May-07

ICICI Pru Interval Fund - 12-May-07 Since inception 10.0000 10.0463 0.46%Monthly Interval Plan I

ICICI Pru Interval Fund - 15-May-07 Since inception 10.0000 10.0447 0.45%Quarterly Interval Plan I

ICICI Pru Interval Fund - 26-May-07 Since inception 10.0000 10.0129 0.13%Monthly Interval Plan II

Returns >= 1 Year are CAGR, < 1 Year are Absolute. Note: For computation of returns theallotment NAV has been taken as Rs 10.00. Past performance may or may not be sustainedin the future.

Fund Size Rs. 425.48 Crores

31



Maturity profile:Performance Record *- Cumulative Option

Rs. 10000 invested at inception: Flexible Vs Crisil Composite Bond Fund Index

Rating Profile

PSU/PFI Bonds 747.99 0.32%Industrial Development Bank of India AA+ 447.66 0.19%Power Finance Corporation Ltd AAA 300.33 0.13%Private Corporate Securities 37,677.22 16.05%

• PTC Shriram Transport F1+ 8,733.61 3.72%• PTC Credit Asset Trust Series HSBC F1+SO 5,044.73 2.15%• Kotak Mahindra Primus Ltd P1+ 4,000.00 1.71%• PTC DAS Trust Standard Chartered Bank A1+(SO) 3,048.97 1.30%• GE Capital Services India Ltd AAA 4,200.00 1.79%

PTC GE Capital Services India Ltd A1+(SO) 2,601.94 1.11%PTC Citi Fleet Trust Citibank AAA(SO) 2,488.80 1.06%TGS Investment & Trade Pvt. Ltd. A1+ 2,000.00 0.85%PTC ICL Trust Birla Home Finance P1+SO 1,999.13 0.85%Hindalco Industries Ltd AAA 1,981.11 0.84%Oscar Investments Ltd Unrated 700.00 0.30%Reliance Industries Ltd AAA 501.64 0.21%PTC DLF GE Capital Services India Ltd AAA(SO) 207.30 0.09%Kotak Mahindra Primus Ltd AA 169.99 0.07%CPs, CDs and Term Deposits 181,493.58 77.43%ABN Amro Bank Ltd A1+ 20,237.35 8.63%HDFC Bank Ltd P1+ 16,551.16 7.06%ING Vysya Bank Ltd P1+ 15,666.16 6.68%American Express Bank Ltd P1+ 15,115.56 6.45%ICICI Bank Ltd P1+ 15,000.00 6.40%Essel Propack Ltd A1+ 14,558.61 6.21%State Bank of Indore Ltd P1+ 14,539.45 6.20%Industrial Development Bank of India P1+ 10,137.78 4.32%State Bank of Saurashtra Ltd A1+ 9,446.62 4.03%Allahabad Bank Ltd AAA / P1+ 9,460.79 4.04%Jammu & Kashmir Bank Ltd AAA 6,147.06 2.62%Standard Chartered Investment & Loan (India) Ltd P1+ 6,074.74 2.59%IDBI Bank Ltd P1+ 4,868.47 2.08%GE Capital Transportation Financial Services Ltd P1+ 4,615.59 1.97%Corporation Bank Ltd P1+ 4,000.00 1.71%Cholamandalam Investment & Finance Co. Ltd P1+ 2,526.51 1.08%State Bank of Mysore Ltd P1+ 2,370.71 1.01%Kotak Mahindra Bank Ltd P1+ 2,225.17 0.95%UCO Bank P1+ 1,940.81 0.83%UTI Bank Ltd P1+ 1,900.00 0.81%State Bank of Bikaner & Jaipur Ltd P1+ 1,496.00 0.64%Infrastructure Development Finance Corporation P1+ 998.40 0.43%State Bank of Hyderabad Ltd P1+ 998.19 0.43%State Bank of Patiala Ltd P1+ 497.11 0.21%Union Bank of India Ltd P1+ 101.54 0.04%Yes Bank P1+ 19.80 0.01%Cash, Call, CBLO & Reverse Repo 13,138.36 5.60%Other Current Assets 1,441.42 0.60%



Snapshot:

Fund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & aboveInception date: 27-09-2002Fund Size: Rs. 2,344.99 croresNAV (As on 31-May-2007):Cumulative option : Rs. 13.9595**Expense Ratio (6 Months avg. Dec 06-May 07): 0.55%


WHY SHOULD ONE INVEST?Medium term investment for returns generated

from managing interest rate volatility

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilComposite Bond Fund Index. For computation of returns the allotment NAVhas been taken as Rs. 10.00. Past performance may or may not be sustainedin future.

ICICI Prudential Flexible Income Plan

CAGR – Flexible Income Plan : 7.39%; Benchmark : 4.77%Past performance may or may not be sustained in future.

PortfolioCompany/Issuer Rating Mkt Value (Rs. Lakh) % to NAVStyle Box


24.56%

4.73%

0.61%

70.09%

-20.00% 10.00% 40.00% 70.00% 100.00%

<182 days

182 days - 1 year

1-3 years

Other CurrentAssets

4.38%

8.04%

5.27%

7.39%

0.80%

3.68%2.83%

4.77%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last6 Months

Last1 years

Last3 years

SinceInception

Flexible Income Plan Crisil Composite Bond Fund Index

Rs 13959.50

Rs 12434.57

9,95010,45010,95011,45011,95012,45012,95013,45013,95014,450

Sep-

02De

c-02

Mar

-03

Jun-

03Se

p-03

Dec-

03M

ar-0

4Ju

n-04

Sep-

04De

c-04

Mar

-05

Jun-

05Se

p-05

Dec-

05M

ar-0

6Ju

n-06

Sep-

06De

c-06

Mar

-07

Flexible Income Plan Crisil Composite Bond Fund Index

AAA andEquivalent93.22%


Reverse Repos6.22%

AA and Equivalent

0.26%

Unrated0.30%

32

Quantitative Indicators: Treasury Plan

Average Maturity : 0.63 YearModified Duration : 0.58 YearYield To Maturity : 9.64%% Unlisted Bonds : 0.00%

Quantitative Indicators: Investment PlanAverage Maturity : 14.07 YearsModified Duration : 5.19 YearsYield To Maturity : 9.15%% Unlisted Bonds : 0.00%

Maturity Profile:Maturity Profile:

Performance Record* - Growth Option (Treasury Plan)

Rs. 10000 invested at inception*: Gilt -Treasury Vs I Sec Si Bex

WHY SHOULD ONE INVEST?Treasury Plan: Short term deployment of funds in a portfolio of G-Secs with low volatility

Investment Plan: Medium term investment in a portfolio of G-Secs for steady returns with market volatility

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is I Sec Si Bex. Benchmarkstart date : 31-03-2002. For computation of returns the allotment NAV has been taken asRs. 10.00. Past performance may or may not be sustained in future.

ICICI Prudential Gilt Fund

*Benchmark start date : 31-03-2002. CAGR – Gilt - Treasury : 5.93%; Benchmark : 6.13%Past performance may or may not be sustained in future.

Style Box Snapshot: Investment PlanFund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & aboveInception date: 19-08-1999Fund Size: Rs. 97.94 croresNAV (As on 31-May-2007): Growth option : Rs. 22.6859

Dividend option: Rs. 10.7314



Snapshot: Treasury Plan

Fund Manager : Rahul GoswamiIndicative Investment Horizon: 3-6 monthsInception date: 19-08-1999Fund Size: Rs. 56.72 croresNAV (As on 31-May-2007): Growth option : Rs. 18.2209

Dividend option: Rs. 10.6186



Rs. 10000 invested at inception: Gilt - Investment Vs I-Sec I Bex

CAGR – Gilt - Investment: 11.09%; Benchmark : 11.20%. Past performance may or maynot be sustained in future.

Performance Record* - Growth Option (Investment Plan)

*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is I Bex. For computationof returns the allotment NAV has been taken as Rs. 10.00. Past performance may or maynot be sustained in future.


Portfolio - Treasury Plan

Company/Issuer Rating Mkt Value % to NAV(Rs. Lakh)

CPs, CDs and Term Deposits 5,362.60 94.55%• Kotak Mahindra Bank Ltd P1+ 1,615.79 28.49%• State Bank of Mysore Ltd P1+ 968.98 17.08%• State Bank of Travancore Ltd P1+ 604.89 10.66%• Industrial Development Bank of India P1+ 507.58 8.95%• Canara Bank Ltd P1+ 463.36 8.17%

Allahabad Bank Ltd A1+ 462.58 8.16%IDBI Bank Ltd P1+ 370.19 6.53%Union Bank of India Ltd P1+ 369.23 6.51%Cash, Call, CBLO & Reverse Repo 355.10 6.26%Other Current Assets (45.75) -0.81%Total Net Assets 5,671.95 100.00%


Portfolio - Investment Plan


Government Securities 4,444.65 45.38%• 8.33% GOI 2036 Sovereign 4,444.65 45.38%

CPs, CDs and Term Deposits 4,709.03 48.09%• State Bank of Mysore Ltd P1+ 1,937.95 19.79%• Kotak Mahindra Bank Ltd P1+ 1,661.95 16.97%• IDBI Bank Ltd P1+ 555.29 5.67%• Union Bank of India Ltd P1+ 553.84 5.66%

Cash, Call, CBLO & Reverse Repo 224.00 2.29%Other Current Assets 416.06 4.24%Total Net Assets 9,793.74 100.00%


77.46%

-0.81%

23.34%

-40.00% 0.00% 40.00% 80.00% 120.00%

182 days - 1 year

<182 days


45.38%

28.29%

22.07%

4.25%

0.00% 10.00% 20.00% 30.00% 40.00% 50.00%

> 10 years

182 days - 1 year

<182 days


Rs 13464.15

Rs 13597.52

9,78010,28010,78011,28011,78012,28012,78013,28013,78014,280

Apr-0

2Ju

l-02

Oct-0

2Ja

n-03

Apr-0

3Ju

l-03

Oct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct-0

4Ja

n-05

Apr-0

5Ju

l-05

Oct-0

5Ja

n-06

Apr-0

6Ju

l-06

Oct-0

6Ja

n-07

Apr-0

7

Gilt Treasury I Sec Si Bex

Rs 22685.90

Rs 22852.80

9,93111,931

13,93115,931

17,93119,931

21,93123,931

Aug-

99Ja

n-00

Jun-

00N

ov-0

0Ap

r-01

Sep-

01Fe

b-02

Jul-0

2De

c-02

May

-03

Oct

-03

Mar

-04

Aug-

04Ja

n-05

Jun-

05N

ov-0

5Ap

r-06

Sep-

06Fe

b-07

Gilt Investment I Sec I-Bex

2.09%

5.50% 4.90%

6.25%8.01%

3.18%

6.84%5.17%

6.36%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

Last 6Months

Last1 years

Last3 years

Last5 years

SinceInception

Gilt Treasury I Sec Si Bex

0.71%

7.56%

3.82%

7.78%

11.09%

-0.33%

6.10%

3.23%

8.01%

11.20%

-2.00%0.00%2.00%4.00%6.00%8.00%

10.00%12.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Gilt Investment I Sec I-Bex

33

Maturity profile:

Performance Record - Growth option

Quantitative Indicators: Investment PF Plan

Average Maturity : 16.08 yearsModified Duration : 6.14 yearsYield To Maturity : 9.01%%Unlisted : 0.00%

Rs. 10000 invested at inception: Gilt -Investement PF Vs I Sec Li BexRs. 10000 invested at inception: Gilt -Treasury PF Vs I Sec Si Bex

Maturity Profile:

Quantitative Indicators: Treasury PF Plan

Average Maturity : 0.68 YearModified Duration : 0.62 YearYield To Maturity : 10.14%% Unlisted : 0.00%

Performance Record - Growth option

Snapshot: Treasury Plan PF optionFund Manager : Rahul GoswamiIndicative Investment Horizon: 3-6 monthsInception date: 11-Feb-04Fund Size: Rs. 29.87 croresNAV (As on 31-May-2007): Growth option: Rs. 11.6051**Expense Ratio (6 Months avg. Dec 06-May 07): 1.50%


WHY SHOULD ONE INVEST?Treasury: Short term deployment of funds in portfolio of G-Secs with low volatility

Investment: Medium term investment for steady returns with market volatility

Returns >= 1 Year are CAGR, < Year are Absolute. Benchmark is I-Sec Si Bex Index.For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performancemay or may not be sustained in future.

ICICI Prudential Gilt Fund PF Option

Portfolio - Treasury PF


CPs, CDs and Term Deposits 2,950.73 98.78%• Industrial Development Bank of India P1+ 1,010.43 33.83%• Canara Bank Ltd P1+ 463.36 15.51%• Allahabad Bank Ltd A1+ 462.58 15.49%• IDBI Bank Ltd P1+ 370.19 12.39%• State Bank of Travancore Ltd P1+ 325.71 10.90%

Union Bank of India Ltd P1+ 318.46 10.66%Cash, Call, CBLO & Reverse Repo 40.70 1.36%Other Current Assets (4.38) -0.14%Total Net Assets 2,987.05 100.00%


Style Box

Absolute – Gilt Treasury PF option : 4.61%; Benchmark : 5.21%. Past performance may ormay not be sustained in future.

Portfolio - Investment PF


Government Securities 4,675.03 60.92%• 8.33% GOI 2036 Sovereign 3,950.80 51.49%• 6.20% GOI 2015 Sovereign 532.84 6.94%• 6.65% GOI 2009 Sovereign 191.39 2.49%

CPs, CDs and Term Deposits 2,776.07 36.18%• Allahabad Bank Ltd P1+ 1,039.07 13.54%• Kotak Mahindra Bank Ltd P1+ 729.41 9.51%

IDBI Bank Ltd P1+ 555.29 7.24%Union Bank of India Ltd P1+ 452.30 5.89%Cash, Call, CBLO & Reverse Repo 101.10 1.32%Other Current Assets 120.88 1.58%Total Net Assets 7,673.08 100.00%


Snapshot: Investment Plan PF optionFund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & aboveInception date: 19-Nov-03Fund Size: Rs. 76.73 croresNAV (As on 31-May-2007): Growth option: Rs. 11.8165**Expense Ratio (6 Months avg. Dec 06-May 07): 1.10%


Style Box

Absolute – Gilt Investment PF option : 4.84%; Benchmark : 3.23%. Past performancemay or may not be sustained in future.

Returns >= 1 Year are CAGR, < Year are Absolute. Benchmark is I-Sec Li Bex Index.For computation of returns the allotment NAV has been taken as Rs. 10.00. Past performancemay or may not be sustained in future.


98.78%

1.36%

-0.15%

-40.00% 0.00% 40.00% 80.00% 120.00%

182 days - 1 year

<182 days


51.49%

36.18%

6.94%

1.58%

1.32%

2.49%

0.00% 40.00% 80.00%

> 10 years

182 days - 1 year

5-10 years

1-3 years


<182 days

2.33%

5.58%4.34% 4.61%

3.18%

6.84%

5.17% 5.21%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%

Last6 Months

Last1 years

Last3 years

SinceInception

Gilt Treasury-PF I Sec Si Bex

Rs 11816.50

Rs 11187.13

9,235

9,735

10,235

10,735

11,235

11,735

12,235

Nov-

03Ja

n-04

Mar

-04

May

-04

Jul-0

4Se

p-04

Nov-

04Ja

n-05

Mar

-05

May

-05

Jul-0

5Se

p-05

Nov-

05Ja

n-06

Mar

-06

May

-06

Jul-0

6Se

p-06

Nov-

06Ja

n-07

Mar

-07

May

-07

Gilt Fund-PF I Sec Li-Bex

Rs 11605.10

Rs 11826.89

9,95010,15010,35010,55010,75010,95011,15011,35011,55011,75011,950

Feb-

04Ap

r-04

Jun-

04Au

g-04

Oct

-04

Dec-

04Fe

b-05

Apr-0

5Ju

n-05

Aug-

05O

ct-0

5De

c-05

Feb-

06Ap

r-06

Jun-

06Au

g-06

Oct

-06

Dec-

06Fe

b-07

Apr-0

7

Gilt Treasury-PF I Sec Si Bex

-1.31%

7.11%

4.50% 4.84%

-1.33%

6.64%

3.13% 3.23%

-2.00%-1.00%0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%

Last 6Months

Last1 years

Last3 years

SinceInception

Gilt Fund-PF I Sec Li-Bex

34

Maturity profile:



Rating Profile

Portfolio

Snapshot:

Fund Manager : Rahul GoswamiIndicative Investment Horizon: 1 year & moreInception date: 28-03-2002Fund Size: Rs. 932.85 croresNAV (As on 31-May-2007):



WHY SHOULD ONE INVEST?Medium term investment for steady returns with market volatility

Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV

ICICI Prudential Long Term Plan

PSU/PFI Bonds 3,625.49 3.88%• Export Import Bank of India Ltd AAA 2,986.88 3.20%• Nabard AAA 638.61 0.68%

Private Corporate Securities 6,249.47 6.70%• Kotak Mahindra Primus Ltd AA 3,738.29 4.01%• CitiFinancial Retail Services India Ltd AAA 2,491.53 2.67%• Mahindra & Mahindra Financial

Services Ltd AA+ 19.65 0.02%CPs, CDs and Term Deposits 42,761.58 45.84%UTI Bank Ltd P1+ 35,000.00 37.52%State Bank of Bikaner & Jaipur Ltd P1+ 7,500.00 8.04%State Bank of Hyderabad Ltd P1+ 212.00 0.23%Union Bank of India Ltd P1+ 49.58 0.05%Cash, Call, CBLO & Reverse Repo 2,956.69 3.17%Other Current Assets 37,691.91 40.41%Total Net Assets 93,285.14 100.00%


Rs. 10000 invested at inception: Long Term Plan Vs Crisil Composite Bond Fund Index

*Benchmark start date : 31-03-2002CAGR – Long Term Plan : 9.20%; Benchmark : 5.19%Past performance may or may not be sustained in future.



*Returns < 1Year : Absolute, > = 1Year : CAGR. Benchmark is Crisil Composite Bond FundIndex. For computation of returns the allotment NAV has been taken as Rs. 10.00.Past performance may or may not be sustained in future.

Style Box

Notes to Numbers and Data in the Fact Sheet

1. Yield to maturity, modified duration and average maturity are the weightedaverage of these numbers, computed for each security in the portfolio, andweighted by the market value of each security to the total market value of theportfolio.

2. Average maturity for PTCs and papers with partial redemptions, are weightedaverages of tenor and quantity of cash flows until maturity.

3. Price/Earning Ratio, Price/Book Value Ratio, and Dividend Yield are based on thehistorical earning numbers, and accounting numbers, and have been sourcedfrom Bloombergâ. They have been computed only for the invested portion ofthe portfolio.

4. Average days to reset for the Floating rate plan, is the weighted average of thenext interest reset date of the floating rate bonds, weighted by their marketvalues.

5. Bank deposits are internally credit rated and posses an internal rating equivalentto AAA. They have been disclosed separately in the credit profile section only inthe interest of clarity, so that investors do not presume they are independentlycredit rated.

6. Other current assets are not included for the purposes of computing portfolioaggregate numbers such as YTM, Modified Duration and average (except in thecase of Liquid Plan).

7. Where the individual holding in a security/issuer is less than 1% of the NAV,such holdings have been aggregated, wherever appropriate, in the interestof clarity.

8. Dividends declared in a scheme have been separately disclosed.

9. All portfolios are common portfolios held under a given scheme, and all returnnumbers unless otherwise stated, represent the Growth Option.

10. For computing the % of listed securities, instruments which cannot be listedunder the existing rules and regulations such as CPs, CDs, CBLOs, Bank FDs, TBills, and PTCs are excluded from the unlisted category.

11. The standard deviation is used to measure the volatility of returns.

12. Sharpe Ratio is the measure of the risk-adjusted performance. It is calculated bysubtracting the risk-free rate from the average rate of return for a portfolio anddividing the result by the standard deviation of the portfolio returns.

13. Beta is the measure of the portfolio’s volatility to its respective benchmark.

14. R-squared is a measurement of how closely a portfolio’s performance correlateswith the performance of benchmark index. A higher R-squared value indicates amore useful beta.

15 The Std. Dev., Sharpe Ratio, Portfolio Beta & R-squared are based on monthlyreturns calculated using last 3 years data.

59.52%

40.40%

0.08%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days


1-3 years

3.85%

7.66%8.50%

9.37% 9.35%

0.80%

3.68%2.83%

5.40%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

10.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Long Term Plan Crisil Composite Bond Fund Index

Rs 15742.62

Rs 12982.40

9,85710,85711,85712,85713,85714,85715,85716,857

Apr-

02Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-

04Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-

06Ju

l-06

Oct

-06

Jan-

07Ap

r-07

Long Term Plan Crisil Composite Bond Fund Index

AA and Equivalent

4.03%


Reverse Repos43.57%


35

Maturity Profile Quantitative Indicators

Average Maturity : 8.48Years

Modified Duration : 4.26Years

Yield to Maturity : 9.12%



Rs. 10000 invested at inception*: Income Plan Vs Crisil Composite Bond Fund Index

Rating Profile

PSU/PFI Bonds 7,457.43 33.30%• Power Finance Corporation Ltd AAA 3,142.28 14.03%• Infrastructure Development Finance Corporation AAA 1,908.20 8.52%

Export Import Bank of India Ltd AAA 1,898.39 8.48%Indian Oil Corporation Ltd AAA 465.29 2.08%State Bank of India Ltd AAA 43.27 0.19%Private Corporate Securities 3,988.67 17.81%

• Tata Sons Ltd AAA 1,991.28 8.89%• UTI Bank Ltd AAA 1,970.57 8.80%

HDFC Bank Ltd AAA 18.02 0.08%HDFC Ltd AAA 8.80 0.04%Government Securities 5,395.50 24.09%

• 8.33% GOI 2036 Sovereign 3,950.80 17.64%7.49% GOI 2017 Sovereign 1,438.05 6.42%8.13% GOI 2021 Sovereign 6.65 0.03%CPs, CDs and Term Deposits 5,300.11 23.67%State Bank of Bikaner & Jaipur Ltd P1+ 2,407.37 10.75%State Bank of Patiala Ltd P1+ 2,406.86 10.75%IDBI Bank Ltd P1+ 485.88 2.17%Cash, Call, CBLO & Reverse Repo 5.30 0.02%Other Current Assets 246.63 1.11%


Snapshot:Fund Manager : Pankaj KajiIndicative Investment Horizon: 1 year & aboveInception date: 09-07-1998Fund Size: Rs. 223.94 croresNAV (As on 31-May-2007):

Retail Growth option : Rs. 21.5492Institutional Growth option : Rs. 22.1418

**Expense Ratio (6 Months avg. Dec 06-May 07):Income Plan: 2.08%Income Inst. Plan: 1.50%


WHY SHOULD ONE INVEST?Medium term investment for steady returns with market volatility

*Returns < 1 : Absolute, > = 1Year : CAGR. Benchmark - Crisil CompositeBond Fund Index. Start date - 31.03.2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or maynot be sustained in future.

ICICI Prudential Income Plan

*Benchmark start date : 31-03-2002.CAGR – Income Plan: 5.60%; Benchmark : 5.29%Past performance may or may not be sustained in future.

PortfolioCompany/Issuer Rating Mkt Value (Rs. Lakh) % to NAV


Style Box

33.11%

21.52%

17.67%

15.41%

1.10%

2.17%

9.01%

-10.00% 10.00% 30.00% 50.00%

3-5 years

<182 days

> 10 years

5-10 years

1-3 years

182 days - 1 year


-0.45%

4.81%

3.14%

5.86%

9.01%

0.80%

3.68%2.83%

5.40%

-2.00%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Income Plan Crisil Composite Bond Fund Index

Rs 13252.89

Rs 13049.27

9,79010,29010,79011,29011,79012,29012,79013,29013,790

Apr-0

2Ju

l-02

Oct

-02

Jan-

03Ap

r-03

Jul-0

3O

ct-0

3Ja

n-04

Apr-0

4Ju

l-04

Oct

-04

Jan-

05Ap

r-05

Jul-0

5O

ct-0

5Ja

n-06

Apr-0

6Ju

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Oct

-06

Jan-

07Ap

r-07

Income Plan Crisil Composite Bond Fund Index

AAA andEquivalent74.78%



Reverse Repos1.13%

36

Rating Profile

Maturity Profile:


Average Maturity : 65.37 DaysModified Duration : 60.21 DaysYield To Maturity : 6.57%% Floating Rate Assets : 21.83%Average days to reset : 57.99 DaysAverage maturity of fixed rate component : 57.60 DaysWeighted average maturity : 57.68 Days% Unlisted Bonds : 5.76%

Performance Record *- Growth Option – Institutional Plus Plan

Rs. 10000 invested at inception*: Liquid Plan Inst. Plus Vs Crisil LiquidFund Index

PSU/PFI Bonds 16,438.77 0.85%Industrial Development Bank of India AA+ 13,453.17 0.69%Power Finance Corporation Ltd AAA 2,485.60 0.13%CanBank Factors Ltd P1+ 500.00 0.03%Private Corporate Securities 235,971.31 12.32%

• PTC UBL Trust DSP Merrill Lynch Capital Ltd A1+(SO) 19,998.48 1.02%• CitiFinancial Consumer Finance India Ltd AAA 15,343.44 0.78%• Tata Motors Ltd P1+ 15,000.00 0.76%• Global Trade Finance Ltd AAA 15,000.00 0.76%

TGS Investment & Trade Pvt. Ltd. A1+ 14,000.00 0.71%Cholamandalam Investment & Finance Co. Ltd P1+ 13,000.00 0.66%DSP Merill Lynch Capital Ltd P1+ 12,940.00 0.66%TML Financial Services Ltd AAA 10,725.63 0.55%GE Capital Services India Ltd AAA 10,303.45 0.53%Oscar Investments Ltd Unrated 9,300.00 0.47%Rabo India Finance Ltd AAA 8,000.00 0.41%PTC IPGE Loan Trust GE Capital Services India LtdF1+SO 7,333.44 0.37%Nirma Ltd P1+ 7,000.00 0.36%Ranbaxy Holding Company Ltd Unrated 6,700.00 0.34%PTC DAS Trust Standard Chartered Bank A1+(SO) 5,069.42 0.26%PTC Shriram Transport F1+ 5,017.03 0.26%Chambal Fertilisers & Chemicals Ltd P1+ 5,000.00 0.25%Mahindra & Mahindra Financial Services Ltd P1+ 5,000.00 0.25%Reliance Capital Finance Ltd A1+ 5,000.00 0.25%Raymond Ltd P1+ 4,700.00 0.24%Birla Global Finance Ltd A1+ 4,500.00 0.23%First India Credit Corporation Ltd A1+ 3,800.00 0.19%Reliance Industries Ltd AAA 3,540.98 0.18%HDFC Ltd AAA 3,256.22 0.17%PTC GE Capital Services India Ltd A1+(SO) 2,902.16 0.15%Kotak Mahindra Bank Ltd P1+ 2,504.20 0.13%Hero Honda Finlease Ltd P1+ 2,500.00 0.13%JM Financial & Investment ConsultancyServices Pvt. Ltd P1+ 2,500.00 0.13%Gujarat Glass Ltd Unrated 2,500.00 0.13%SBI Factors & Commercial Services Pvt Ltd A1+ 2,000.00 0.10%GE Money Financial Services Ltd P1+ 2,000.00 0.10%Blue Star Ltd P1+ 2,000.00 0.10%PTC ICL Trust Birla Home Finance P1+SO 1,999.13 0.10%Hindalco Industries Ltd AAA 1,973.40 0.10%Grasim Industries Ltd AAA 1,873.74 0.10%PTC Credit Asset Trust Series HSBC F1+SO 1,513.42 0.08%PTC UBL Trust IndusInd Bank AAA(SO) 1,198.60 0.06%PTC Kotak Mahindra Bank Ltd. AAA(SO) 1,113.55 0.06%LIC Housing Finance Ltd AAA 995.86 0.05%PTC BHPC Tata Motors AAA(SO) 832.63 0.04%PTC Hero Motors Ltd A1+(SO) 550.00 0.03%PTC IL & FS Investmart Ltd AAA(SO) 509.64 0.03%PTC TVS Finance AAA(SO) 321.41 0.02%PTC IBL Trust IndusInd Bank AAA(SO) 215.93 0.01%PTC Citi Fleet Trust Citibank AAA(SO) 199.97 0.01%Treasury Bills 29,646.78 1.51%

• 364 Day T Bill (MD 28/03/2008) Sovereign 17,392.04 0.89%364 Day T Bill (MD 14/07/2007) Sovereign 7,346.98 0.37%182 Day T Bill (MD 07/09/2007) Sovereign 4,907.76 0.25%CPs, CDs and Term Deposits 961,393.93 49.01%ICICI Bank Ltd P1+ 164,259.00 8.37%Punjab National Bank Ltd P1+ / A1+ 109,935.05 5.61%ING Vysya Bank Ltd P1+ 65,684.89 3.35%ABN Amro Bank Ltd AAA 59,950.41 3.06%HDFC Bank Ltd P1+ 45,351.51 2.31%UTI Bank Ltd P1+ 40,200.00 2.05%Citibank P1+ 40,000.00 2.04%Allahabad Bank Ltd A1+ / P1+ 32,021.40 1.63%Kotak Mahindra Bank Ltd AAA 30,997.80 1.58%UCO Bank P1+ 28,774.74 1.47%State Bank of Patiala Ltd P1+ 28,330.25 1.45%State Bank of Saurashtra Ltd A1+ 28,339.86 1.44%Union Bank of India Ltd P1+ 28,170.89 1.44%Yes Bank F1+ 28,338.73 1.44%Corporation Bank Ltd P1+ 26,700.00 1.36%GE Money Financial Services Ltd AAA 17,333.00 0.88%IDBI Bank Ltd P1+ 15,592.15 0.79%Indian Bank Ltd AAA 14,671.93 0.75%Jammu & Kashmir Bank Ltd A1+ 14,574.51 0.74%Essel Propack Ltd A1+ 14,073.33 0.72%State Bank of Bikaner & Jaipur Ltd P1+ 13,729.10 0.70%Infrastructure Development Finance Corporation AAA 12,530.46 0.64%Standard Chartered Bank - Bills Rediscounted Unrated 11,470.30 0.58%State Bank of Hyderabad Ltd P1+ 10,518.99 0.54%Industrial Development Bank of India P1+ 9,737.66 0.50%HDFC Ltd AAA 9,245.62 0.47%UTI Securities Ltd P1+ 9,131.27 0.47%Standard Chartered Investment & Loan (India) LtdP1+ 8,787.54 0.45%Bank of America - Bills Rediscounted Unrated 7,461.75 0.38%Deutsche Bank - Bills Rediscounted Unrated 4,985.00 0.25%HSBC Ltd F1+ 4,904.02 0.25%State Bank of Indore Ltd P1+ 4,712.23 0.24%Canara Bank Ltd P1+ 4,188.55 0.21%Standard Chartered Bank Ltd P1+ 3,972.64 0.20%Bajaj Auto Ltd P1+ 2,378.45 0.12%Citicorp Finance (India) Ltd P1+ 2,369.19 0.12%GE Capital Transportation Financial Services Ltd P1+ 2,299.66 0.12%Redington India Ltd P1+ 1,955.83 0.10%State Bank of Travancore Ltd P1+ 1,477.54 0.08%State Bank of Mysore Ltd P1+ 1,453.46 0.07%Export Import Bank of India Ltd P1+ 296.13 0.02%State Bank of India Ltd P1+ 489.09 0.02%Cash, Call, CBLO & Reverse Repo 335,411.25 17.09%Other Current Assets 377,428.44 19.22%Total Net Assets 1,962,050.90 100.00%


Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: Upto 1monthInception date:

Growth Option: 24-06-1998Institutional Option: 03-04-2003Institutional Plus Option: 28-09-2003Super Institutional Option: 17-11-2005

Fund Size: Rs. 19,620.51 croresNAV (As on 31-May-2007):

Growth option : Rs. 18.6359Institutional Growth option : Rs. 18.8488Institutional Plus Growth option : Rs. 18.9113Super Institutional Growth option : Rs. 11.1572Institutional option-I-Growth option: Rs. 10.9231

**Expense Ratio (6 Months avg. Dec 06-May 07):Growth option : 1.00% Inst. option : 0.71%Inst. Plus option : 0.66% Super Inst. option : 0.47%Inst. - I option : 0.47%

** This is a close approximation of the number.

WHY SHOULD ONE INVEST?Temporary parking of funds with high liquidity

Style Box

ICICI Prudential Liquid Plan

*Benchmark start date : 31-03-2002CAGR – Liquid Plan : 5.99%; Benchmark : 5.29%Past performance may or may not be sustained in future.

PortfolioCompany/Issuer Rating Mkt Value (Rs. Lakh) % to NAV

*Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.


82.11%

17.89%

0.00% 20.00% 40.00% 60.00% 80.00% 100.00%

<182 days

>182 days

8.57% 8.77% 8.55% 7.81%5.99%

11.60%10.47%

8.49%7.18%

5.29%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%

Last 15days

Last 30days

Last 6Months

Last 1years

SinceInception

Institutional Plus Plan Crisil Liquid Fund Index

Rs 12380.31

Rs 12085.19

9,950

10,450

10,950

11,450

11,950

12,450

12,950

Sep-

03N

ov-0

3Ja

n-04

Mar

-04

May

-04

Jul-0

4Se

p-04

Nov

-04

Jan-

05M

ar-0

5M

ay-0

5Ju

l-05

Sep-

05N

ov-0

5Ja

n-06

Mar

-06

May

-06

Jul-0

6Se

p-06

Nov

-06

Jan-

07M

ar-0

7M

ay-0

7

Institutional Plus Plan Crisil Liquid Fund Index

Unrated2.16%



Reverse Repos36.33%

AA and Equivalent

0.69%


37


Quantitative Indicators:Maturity Profile

Performance Record *- Cumulative Option – Plan B

Rs. 10000 invested at inception: Floating Rate Plan B Vs Crisil Liquid Fund Index

Rating Profile

Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: 1 - 3 monthsInception date: 28-03-2003Fund Size: Rs. 1,130.55 croresNAV (As on 31-May-2007):

Plan A - Cumulative: Rs. 11.8148Plan B - Cumulative: Rs. 12.6861Plan C - Cumulative: Rs. 11.9319Plan D - Cumulative: Rs. 11.1696

**Expense Ratio (6 Months avg. Dec 06-May 07):Plan A - 1.08%, Plan B - 0.83%, Plan C - 0.72%, Plan D - 0.60%


WHY SHOULD ONE INVEST?Short term deployment of funds

*Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has been takenas Rs.10.00. Past performance may or may not be sustained in future.

ICICI Prudential Floating Rate Plan

CAGR – Floating Rate Plan - Plan B : 5.86%; Benchmark : 5.22%Past performance may or may not be sustained in future.

PSU/PFI Bonds 3,000.00 2.65%

• Industrial Development Bank of India AA+ 3,000.00 2.65%


• Global Trade Finance Ltd P1+ 10,000.00 8.85%

• Oscar Investments Ltd Unrated 5,000.00 4.42%

• GE Capital Services India Ltd P1+ 3,500.00 3.10%

• Citicorp Finance (India) Ltd AAA 2,500.00 2.21%

Hindalco Industries Ltd AAA 1,983.22 1.75%

PTC Citi Fleet Trust Citibank AAA(SO) 1,430.96 1.27%

TGS Investment & Trade Pvt. Ltd. A1+ 500.00 0.44%

PTC Hero Motors Ltd A1+(SO) 450.00 0.40%


Punjab National Bank Ltd P1+ 15,000.00 13.27%

UTI Bank Ltd P1+ 10,010.00 8.85%

UCO Bank P1+ 9,451.44 8.36%


State Bank of Hyderabad Ltd P1+ 8,850.00 7.83%

ABN Amro Bank Ltd A1+ 4,739.39 4.19%



Canara Bank Ltd P1+ 310.00 0.27%







72.83%

27.17%

0.00% 20.00% 40.00% 60.00% 80.00%

<182 days

>182 days

8.55% 8.76% 8.61% 7.75%5.86%

11.60%10.47%

8.49%7.18%

5.22%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%

Last 15days

Last 30days

Last 6Months

Last 1years

SinceInception

Floating Rate Plan Crisil Liquid Fund Index

Rs 12686.10

Rs 12369.15

9,950

10,450

10,950

11,450

11,950

12,450

12,950

Mar

-03

May

-03

Jul-0

3Se

p-03

Nov-

03Ja

n-04

Mar

-04

May

-04

Jul-0

4Se

p-04

Nov-

04Ja

n-05

Mar

-05

May

-05

Jul-0

5Se

p-05

Nov-

05Ja

n-06

Mar

-06

May

-06

Jul-0

6Se

p-06

Nov-

06Ja

n-07

Mar

-07

May

-07

Floating Rate Plan Crisil Liquid Fund Index

Unrated4.42%

AA and Equivalent

2.65%


Reverse Repos19.24%


38

Rating Profile

Maturity Profile:



Performance* Record - Cash Option - Growth


• GE Capital Services India Ltd P1+ 2,500.00 3.17%

• Mahindra & Mahindra Financial Services Ltd AA+ 2,492.48 3.16%

• PTC GE Capital Services India Ltd A1+(SO) 1,000.74 1.27%


State Bank of Hyderabad Ltd P1+ 10,200.00 12.93%

Punjab National Bank Ltd P1+ 5,000.00 6.34%


ICICI Bank Ltd P1+ 5,000.00 6.34%

Corporation Bank Ltd P1+ 5,000.00 6.34%

UCO Bank P1+ 1,940.81 2.46%


Allahabad Bank Ltd P1+ 944.61 1.20%

ABN Amro Bank Ltd A1+ 460.13 0.58%

IDBI Bank Ltd P1+ 115.69 0.15%




Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: One day to one weekInception date:

Growth Option: 06-03-2002Growth Cash Option: 09-03-2006

Fund Size: Rs. 788.81 croresNAV (As on 31-May-2007):

Growth option : Rs. 12.9327Cash Option Growth: Rs. 10.9606

**Expense Ratio (6 Months avg. Dec 06-May 07):Growth option: 1.00%Cash Option Growth: 0.53%


WHY SHOULD ONE INVEST?Temporary parking of funds with high liquidity

Style Box

ICICI Prudential Sweep PlanPortfolio

Company/Issuer Rating Mkt Value (Rs. Lakh) % to NAV

*Returns >= 1 Year are CAGR, < 1 Year are Simple Annualised. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has been takenas Rs. 10.00. Past performance may or may not be sustained in future.


96.87%

3.13%

0.00% 40.00% 80.00% 120.00%

<182 days

182 days - 1 year

8.80%9.29% 8.82% 7.97% 7.76%

11.60%10.47%

8.49%7.18% 7.21%

0.00%2.00%4.00%6.00%8.00%

10.00%12.00%14.00%

Last 15days

Last 30days

Last 6Months

Last 1years

SinceInception

Sweep Crisil Liquid Fund Index



Reverse Repos48.53%

AA and Equivalent

3.16%

39

Maturity Profile Quantitative Indicators:

Average Maturity : 0.52 Year

Modified Duration : 0.47 Year

Yield To Maturity : 11.22%

% Floating Rate Assets : 38.05%

Average days to reset : 0.16 Year

Average maturity of fixed rate component : 0.15 Year

Weighted average maturity : 0.16 Year

% Unlisted : 13.22%

Rs. 10000 invested at inception*: STP Vs Crisil Short Term Bond Fund Index

Rating Profile


Nabard AAA 109.76 0.45%



• PTC DAS Trust Standard Chartered Bank A1+(SO) 3,359.48 13.87%

• Ranbaxy Holding Company Ltd Unrated 2,500.00 10.32%

• PTC ICL Trust Birla Home Finance P1+SO 999.56 4.13%

• Cholamandalam Investment & Finance Co. Ltd AA 699.99 2.89%

• PTC Citi Fleet Trust Citibank AAA(SO) 504.38 2.08%

Grasim Industries Ltd AAA 489.66 2.02%

PTC Shriram Transport F1+ 403.96 1.67%

PTC UBL Trust IndusInd Bank AAA(SO) 387.64 1.60%

HDFC Ltd AAA 195.92 0.81%

PTC IBL Trust IndusInd Bank AAA(SO) 183.59 0.76%


UTI Bank Ltd P1+ 3,000.00 12.39%

Canara Bank Ltd P1+ 2,690.00 11.11%

ICICI Bank Ltd P1+ 2,200.00 9.09%





WHY SHOULD ONE INVEST?Short term deployment of funds with low volatilityICICI Prudential Short Term Plan

*Benchmark start date : 31-03-2002CAGR – Short Term Plan: 6.60%; Benchmark : 5.42%Past performance may or may not be sustained in future.



*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is Crisil ShortTerm Bond Fund Index. Start date: 31-03-2002. For computation of returns theallotment NAV has been taken as Rs. 10.00. Past performance may or maynot be sustained in future.


Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: 3 - 6 monthsInception Cumulative Option: 25-10-2001date Institutional Option : 03-04-2003Fund Size: Rs. 242.14 croresNAV (As on 31-May-2007):

Cumulative Option : Rs. 14.4696Institutional Option : Rs. 14.6214

**Expense Ratio (6 Months avg. Dec 06-May 07):Short Term Plan : 1.10%Inst. Plan : 0.80%


}

43.41%

24.22%

18.46%

13.91%

0.00% 20.00% 40.00% 60.00%

<182 days


1-3 years

182 days - 1 year

3.90%

7.55%6.37% 6.56% 6.82%

2.92%

6.10%

4.67%5.36%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%

Last 6Months

Last 1years

Last 3years

Last 5years

SinceInception

Short Term Plan Crisil Short Term Bond Fund Index

Rs 13915.08

Rs 13134.96

9,95010,45010,95011,45011,95012,45012,95013,45013,95014,450

Apr-0

2Ju

l-02

Oct-0

2Ja

n-03

Apr-0

3Ju

l-03

Oct-0

3Ja

n-04

Apr-0

4Ju

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Oct-0

4Ja

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Apr-0

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Oct-0

5Ja

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Apr-0

6Ju

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Oct-0

6Ja

n-07

Apr-0

7

Short Term Plan Crisil Short Term Bond Fund Index

Unrated10.32%

AA and Equivalent

2.89%


Reverse Repos26.78%


40

Rs. 10000 invested at inception: Long Term Floating Rate Plan-B Vs Crisil Liquid Fund Index

CAGR – Long Term Floating Rate Plan: 6.38%; Benchmark : 5.78%Past performance may or may not be sustained in future.

Rating Profile

Maturity Profile


Snapshot:Fund Manager : Chaitanya PandeIndicative Investment Horizon: 6-12 monthsInception date: 15-Sep-04Fund Size: Rs. 82.94 croresNAV (As on 31-May-2007):

Plan A - Cumulative: Rs. 11.6892Plan B - Cumulative: Rs. 11.8222

**Expense Ratio (6 Months avg. Dec 06-May 07):Plan A - 1.25%Plan B - 0.85%


*Returns >= 1 Year are CAGR, < 1 Year are Absolute. Benchmark is CrisilLiquid Fund Index. For computation of returns the allotment NAV has beentaken as Rs. 10.00. Past performance may or may not be sustained in future.

ICICI Prudential Long Term Floating Rate Plan

Average Maturity : 0.51 YearModified Duration : 0.47 YearYield To Maturity : 10.17%% Floating Rate Assets : 28.34%Average days to reset : 0.30 YearAverage maturity of fixed rate component : 0.30 YearWeighted average maturity : 0.30 Year% Unlisted Bonds : 9.65%



• Industrial Development Bank of India AA+ 547.14 6.60%

• Power Finance Corporation Ltd AAA 0.96 0.01%


• PTC Shriram Transport F1+ 1,009.89 12.18%

• Ranbaxy Holding Company Ltd Unrated 800.00 9.65%

• ICICI Bank Ltd AAA 495.15 5.97%

PTC UBL Trust IndusInd Bank AAA(SO) 387.64 4.67%


ICICI Bank Ltd P1+ 2,000.00 24.11%


Canara Bank Ltd P1+ 1,000.00 12.06%







WHY SHOULD ONE INVEST?Generate market rate of returns with low volatility


47.63%

32.72%

18.78%

0.87%

0.00% 20.00% 40.00% 60.00%

<182 days

182 days - 1 year

1-3 years

Other CurrentAssets

4.01%

7.55%6.38%

4.23%

7.18%

5.78%

0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%


Long Term Floating Rate Plan Crisil Liquid Fund Index

Rs 11822.20

Rs 11641.97

9,95010,15010,35010,55010,75010,95011,15011,35011,55011,75011,950

Sep-

04

Nov

-04

Jan-

05

Mar

-05

May

-05

Jul-0

5

Sep-

05

Nov

-05

Jan-

06

Mar

-06

May

-06

Jul-0

6

Sep-

06

Nov

-06

Jan-

07

Mar

-07

May

-07

Long Term Floating Rate Plan Crisil Liquid Fund Index

Unrated9.65%

AA and Equivalent

6.60%


Reverse Repos6.75%


41

ICICI Prudential Income Plan - Quarterly Dividend Option

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit

30-Dec-05 10.00 10.9769 0.040031-Mar-06 10.00 10.8980 0.100030-Jun-06 10.00 10.8817 0.100029-Sep-06 10.00 11.1210 0.150029-Dec-06 10.00 11.1905 0.150030-Mar-07 10.00 10.9618 0.0500

ICICI Prudential Short Term Plan - Monthly Dividend Option (Dec. 2006 onwards)

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit28-Dec-06 10.00 10.8187 0.060031-Jan-07 10.00 10.8344 0.060028-Feb-07 10.00 10.8037 0.060030-Mar-07 10.00 10.8263 0.080027-Apr-07 10.00 10.8298 0.080031-May-07 10.00 10.8500 0.0900Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively.Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes ifapplicable.

ICICI Prudential Short Term Plan - Fortnightly Dividend Option (Dec. 2006 onwards)

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit15-Dec-06 10.0000 10.8025 0.030029-Dec-06 10.0000 10.7968 0.030016-Jan-07 10.0000 10.8061 0.030031-Jan-07 10.0000 10.8115 0.030015-Feb-07 10.0000 10.8005 0.030028-Feb-07 10.0000 10.7808 0.030015-Mar-07 10.0000 10.7954 0.030030-Mar-07 10.0000 10.8034 0.037516-Apr-07 10.0000 10.8154 0.037527-Apr-07 10.0000 10.8120 0.037515-May-07 10.0000 10.8306 0.050031-May-07 10.0000 10.8247 0.0400

ICICI Prudential Liquid Plan - Weekly Dividend Option (Dec. 2006 onwards)Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit04-Dec-06 10.00 11.8455 0.014911-Dec-06 10.00 11.8456 0.015018-Dec-06 10.00 11.8460 0.015426-Dec-06 10.00 11.8490 0.018402-Jan-07 10.00 11.8482 0.017608-Jan-07 10.00 11.8445 0.013915-Jan-07 10.00 11.8468 0.016222-Jan-07 10.00 11.8469 0.016329-Jan-07 10.00 11.8469 0.016305-Feb-07 10.00 11.8472 0.016612-Feb-07 10.00 11.8470 0.016419-Feb-07 10.00 11.8474 0.016826-Feb-07 10.00 11.8474 0.016805-Mar-07 10.00 11.8473 0.016712-Mar-07 10.00 11.8478 0.017220-Mar-07 10.00 11.8525 0.021926-Mar-07 10.00 11.8495 0.01893-Apr-07 10.00 11.8599 0.02939-Apr-07 10.00 11.8499 0.019316-Apr-07 10.00 11.8507 0.020123-Apr-07 10.00 11.8521 0.02151-May-07 10.00 11.8517 0.02427-May-07 10.00 11.8480 0.017414-May-07 10.00 11.8489 0.018321-May-07 10.00 11.8497 0.019128-May-07 10.00 11.8497 0.0191Dividend is gross dividend. To arrive at the net dividend payable for corporate andnon-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively. Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes if applicable.

WHY SHOULD ONE INVEST?Customised investment solutions to match risk return profile.ICICI Prudential Advisor Series


Fund Manager : Pankaj Kaji

Performance Records *

Scheme Name Date Period NAV NAV Returns(Rs) as of Fund Benchmark

31-May-07 Index

Very Cautious 30-Nov-06 Last 6 Months 11.6496 12.1334 4.15% 3.84%Very Cautious 31-May-06 Last 1 years 11.2798 12.1334 7.57% 6.85%Very Cautious 31-May-04 Last 3 years 10.2101 12.1334 5.92% 5.30%Very Cautious 18-Dec-03 Since Inception 10.0000 12.1334 5.76% 5.13%Cautious 30-Nov-06 Last 6 Months 13.3088 14.1995 6.69% 3.93%Cautious 31-May-06 Last 1 years 12.4326 14.1995 14.21% 15.01%Cautious 31-May-04 Last 3 years 10.1267 14.1995 11.93% 12.55%Cautious 18-Dec-03 Since Inception 10.0000 14.1995 10.69% 10.10%Moderate 30-Nov-06 Last 6 Months 17.0214 18.5398 8.92% 6.43%Moderate 31-May-06 Last 1 years 15.1221 18.5398 22.60% 26.59%Moderate 31-May-04 Last 3 years 9.5866 18.5398 24.59% 24.49%Moderate 18-Dec-03 Since Inception 10.0000 18.5398 19.58% 18.41%Aggressive 30-Nov-06 Last 6 Months 20.6214 22.7311 10.23% 7.74%Aggressive 31-May-06 Last 1 years 17.6270 22.7311 28.96% 34.56%Aggressive 31-May-04 Last 3 years 9.0195 22.7311 36.09% 34.56%Aggressive 18-Dec-03 Since Inception 10.0000 22.7311 26.85% 24.82%Very Aggressive 30-Nov-06 Last 6 Months 24.6827 27.3432 10.78% 8.48%Very Aggressive 31-May-06 Last 1 years 20.5654 27.3432 32.96% 38.49%Very Aggressive 31-May-04 Last 3 years 8.7850 27.3432 46.01% 40.32%Very Aggressive 18-Dec-03 Since Inception 10.0000 27.3432 33.83% 28.33%Very Cautious:- Crisil Liquid fund Index - 70%, Crisil Short Term Bond Fund-30%Cautious:- Nifty-15%, Crisil Composite Bond Fund Index - 70%, Crisil Liquid

Fund Index-15%Moderate:- Nifty-40%, Crisil Composite Bond Fund Index - 40%, Crisil Liquid

Fund Index-20%Aggressive:- Nifty-70%, Crisil Composite Bond Fund Index - 25%, Crisil Liquid

Fund Index-5%Very Aggressive:- Nifty-90%, Crisil Liquid Fund Index- 10%*Returns < 1Year : Absolute, > = 1Year : CAGR. Past Performance may or may not besustained in the future.Note: For computation of returns the allotment NAV has been taken as Rs.10.00

Portfolio - Very Cautious Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 326.13 58.98%ICICI Prudential Liquid Plan 217.41 39.32%Other Current Assets 9.42 1.70%Total Net Assets 552.96 100.00%

Portfolio - Very Aggressive Plan

Company/Issuer Mkt. Value(Rs. Lakh) % to NAVICICI Prudential Power Plan 374.45 40.35%ICICI Prudential Growth Plan 280.72 30.25%ICICI Prudential Emerging S.T.A.R 93.59 10.08%ICICI Prudential Dynamic Plan 93.22 10.04%ICICI Prudential Services Industries Fund - Growth 46.87 5.05%ICICI Prudential Flexible Income Plan 46.30 4.99%Other Current Assets (7.11) -0.76%Total Net Assets 928.04 100.00%

Portfolio - Aggressive Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 217.28 24.95%ICICI Prudential Power Plan 175.74 20.18%ICICI Prudential Growth Plan 175.68 20.17%ICICI Prudential Dynamic Plan 131.25 15.07%ICICI Prudential Services Industries Fund - Growth 87.99 10.10%ICICI Prudential Emerging S.T.A.R 87.85 10.09%Other Current Assets (4.90) -0.56%Total Net Assets 870.89 100.00%

Portfolio - Moderate Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 418.83 39.67%ICICI Prudential Power Plan 158.81 15.04%ICICI Prudential Growth Plan 158.74 15.03%ICICI Prudential Services Industries Fund - Growth 106.01 10.04%ICICI Prudential Emerging S.T.A.R 105.85 10.03%ICICI Prudential Dynamic Plan 52.71 4.99%ICICI Prudential Liquid Plan 52.35 4.96%Other Current Assets 2.52 0.24%Total Net Assets 1,055.82 100.00%

Portfolio - Cautious Plan

Company/Issuer Mkt. Value (Rs. Lakh) % to NAVICICI Prudential Flexible Income Plan 295.27 59.10%ICICI Prudential Liquid Plan 61.51 12.31%ICICI Prudential Services Industries Fund - Growth 37.37 7.48%ICICI Prudential Growth Plan 37.31 7.47%ICICI Prudential Dynamic Plan 37.16 7.44%ICICI Prudential Emerging S.T.A.R 24.88 4.98%Other Current Assets 6.08 1.22%Total Net Assets 499.58 100.00%

Fund Size Rs. 39.07 Crores

Dividend History

ICICI Prudential Income Plan - Half yearly Dividend Option

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit

29-Sep-05 10.00 10.5154 0.220031-Mar-06 10.00 10.3702 0.120029-Sep-06 10.00 10.6548 0.250030-Mar-07 10.00 10.5371 0.2500Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to beadjusted respectively. Past performance may or may not be sustained in future. Afterpayment of dividend the NAV will fall to the extent of payout and distribution taxes ifapplicable.

42

ICICI Prudential Monthly Income Plan** - Quarterly Dividend Option (Feb.2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit

28-Feb-07 10.0000 11.8645 0.250031-May-07 10.0000 11.8857 0.2500

ICICI Prudential Long Term Floating Rate Plan - Dividend A Monthly Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Nov-06 10.00 10.1460 0.050029-Dec-06 10.00 10.1483 0.050031-Jan-07 10.00 10.1624 0.052028-Feb-07 10.00 10.1580 0.052030-Mar-07 10.00 10.1697 0.063027-Apr-07 10.00 10.1702 0.063031-May-07 10.00 10.1945 0.0700

ICICI Prudential Long Term Floating Rate Plan - Dividend B Monthly Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Nov-06 10.00 10.1655 0.052029-Dec-06 10.00 10.1691 0.052031-Jan-07 10.00 10.1850 0.054028-Feb-07 10.00 10.1818 0.054030-Mar-07 10.00 10.1949 0.066527-Apr-07 10.00 10.1953 0.066531-May-07 10.00 10.2201 0.0735

ICICI Prudential Gilt Fund - Treasury Plan - Quarterly Dividend Option (May 2007 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-May-07 10.0000 10.6186 0.1500

ICICI Prudential Gilt Fund - Treasury Plan - Half Yearly Dividend Option (May 2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-May-07 10.0000 10.3050 0.2000Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporateinvestors dividend distribution tax @ 22.44% and 14.025% needs to be adjusted respectively.Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of payout.

ICICI Prudential Sweep Plan - Cash - Monthly Option

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit30-May-07 10.00 10.0877 0.0877Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Gilt Fund - Investment Plan - Half Yearly Dividend Option (Nov 2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Nov-06 10.0000 11.0558 0.400031-May-07 10.0000 10.7314 0.1000

ICICI Prudential Monthly Income Plan** - Monthly Dividend Option (Jan. 2007 onwards)


31-Jan-07 10.0000 11.6988 0.070028-Feb-07 10.0000 11.4882 0.060030-Mar-07 10.0000 11.4461 0.060027-Apr-07 10.0000 11.5230 0.080031-May-07 10.0000 11.5527 0.0700

ICICI Prudential Blended Plan A - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit26-Oct-05 10.00 10.2945 0.25001-June-06 10.00 10.5643 0.250020-Apr-07 10.00 11.0246 0.5000

Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Long Term Floating Rate Plan - Dividend C Monthly Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit28-Apr-06 10.00 10.0743 0.0440

ICICI Prudential Sweep Plan - Cash Option - Weekly Dividend

Record Date Face Value (Rs) NAV (Rs) Dividend (Rs.)/Unit1-May-07 10.00 10.0186 0.02137-May-07 10.00 10.0165 0.016514-May-07 10.00 10.0182 0.018221-May-07 10.00 10.0175 0.017528-May-07 10.00 10.0173 0.0173

Dividend History

ICICI Prudential FMP Series 28 - 16 Mths Plan-Institutional Dividend


ICICI Prudential FMP Series 34 - 18 Mths Plan-Retail Dividend

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Mar-07 10.00 10.0439 0.0439

ICICI Prudential FMP Series 34 - 17 Mths Plan-Retail Dividend


ICICI Prudential FMP Series 34 - 17 Mths Plan-Institutional Dividend


ICICI Prudential FMP Series 28 - 16 Mths Plan-DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit14-May-07 10.00 10.1384 0.1384

ICICI Prudential FMP - Yearly Series 12 Retail Div 1


ICICI Prudential FMP Series 34 - 1 Year Plan A-Institutional Dividend


ICICI Prudential FMP Series 34 - 1 Year Plan A-Retail DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Mar-07 10.00 10.1853 0.1853

ICICI Prudential FMP Series 35-3A-Dividend PlanRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit24-Apr-07 10.00 10.0643 0.0643

ICICI Prudential FMP Series 35-3B-Dividend PlanRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit14-May-07 10.00 10.1201 0.1201

ICICI Prudential FMP Series 35-3C-Dividend PlanRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-May-07 10.00 10.1765 0.1765

ICICI Prudential FMP Series 34-3A-Dividend PlanRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit19-Apr-07 10.00 10.0487 0.0487

ICICI Prudential FMP Series 34 - 16 Mths Plan-Retail DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Mar-07 10.00 10.0625 0.0625



ICICI Prudential FMP - Yearly Series 12 Institutional Div 1


ICICI Prudential Hybrid FMP 13 Mths Plan - Retail Annual Dividend


ICICI Prudential Hybrid FMP 13 Mths Plan - Institutional Quarterly Dividend


ICICI Prudential Hybrid FMP 13 Mths Plan - Retail Quarterly Dividend


ICICI Prudential FMP Series 35 - 1 Mth Plan - Retail Dividend Option


ICICI Prudential FMP Series 37 - 1 Mth Plan - Retail Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit29-Apr-07 10.00 10.0995 0.0995Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Blended Plan B - Dividend Option


26-Oct-05 10.00 10.2600 0.230001-Jun-06 10.00 10.4485 0.4000Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

43

Dividend History

ICICI Prudential Monthly Income Plan** - Half Yearly Dividend Option (Aug. 2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit31-Aug-06 10.0000 11.8638 0.450028-Feb-07 10.0000 11.8944 0.5000

Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporateinvestors dividend distribution tax @ 22.44% and 14.025% needs to be adjusted respectively.Past performance may or may not be sustained in future. After payment of dividend the NAV willfall to the extent of payout and distribution taxes if applicable. **An open-ended fund. Monthlyincome is not assured and is subject to the availability of distributable surplus.

ICICI Prudential Flexible Income Plan - Weekly Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit2-May-07 10.00 10.5591 0.01977-May-07 10.00 10.5601 0.020714-May-07 10.00 10.5567 0.017321-May-07 10.00 10.5580 0.018628-May-07 10.00 10.5580 0.0186Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Floating Rate Plan - Plan C - Fortnightly Dividend Option (Dec.2006 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit14-Dec-06 10.00 10.0302 0.028428-Dec-06 10.00 10.0311 0.029216-Jan-07 10.00 10.0435 0.041529-Jan-07 10.00 10.0286 0.026514-Feb-07 10.00 10.0348 0.032627-Feb-07 10.00 10.0278 0.025515-Mar-07 10.00 10.0358 0.033529-Mar-07 10.00 10.0438 0.041516-Apr-07 10.00 10.0581 0.055826-Apr-07 10.00 10.0295 0.027215-May-07 10.00 10.0500 0.047730-May-07 10.00 10.0380 0.0357

ICICI Prudential Long Term Plan - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Mar-07 10.0000 10.5343 0.071527-Apr-07 10.0000 10.5391 0.071531-May-07 10.0000 10.5616 0.0900Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Balanced Fund - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit30-Oct-03 10.00 12.93 2.0024-Mar-05 10.00 15.36 3.5026-Dec-05 10.00 15.76 1.2029-Sep-06 10.00 17.66 1.2016-Mar-07 10.00 16.93 1.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Floating Rate Plan - Plan D - Fortnightly Dividend Option (April. 2007 onwards)

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit16-Apr-07 10.00 10.0584 0.056326-Apr-07 10.00 10.0296 0.027515-May-07 10.00 10.0506 0.048530-May-07 10.00 10.0385 0.0364Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporateinvestors dividend distribution tax @ 22.44% and 14.025% needs to be adjusted respectively. Pastperformance may or may not be sustained in future. After payment of dividend the NAV willfall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Income Multiplier Fund - Dividend Option (Dec. 2006 onwards)Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit15-Dec-06 10.00 12.5406 0.5016-Mar-07 10.00 12.0028 0.4531-May-07 10.00 11.9275 0.08Dividend is gross dividend. To arrive at the net dividend payable for corporate and non-corporate investors dividend distribution tax @ 22.44% and 14.025% needs to be adjustedrespectively. Past performance may or may not be sustained in future. After payment ofdividend the NAV will fall to the extent of payout and distribution taxes if applicable.

ICICI Prudential Infrastructure fund - DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit20-Mar-06 10.00 14.37 1.0015-Sep-06 10.00 14.68 1.0016-Mar-07 10.00 14.46 1.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Floating Rate Plan - Plan B - Fortnightly Dividend Option (Dec. 2006 onwards)


14-Dec-06 10.00 10.0666 0.028028-Dec-06 10.00 10.0675 0.028816-Jan-07 10.00 10.0798 0.041029-Jan-07 10.00 10.0651 0.026214-Feb-07 10.00 10.0713 0.032327-Feb-07 10.00 10.0644 0.025315-Mar-07 10.00 10.0721 0.033029-Mar-07 10.00 10.0804 0.041316-Apr-07 10.00 10.0948 0.055726-Apr-07 10.00 10.0663 0.027215-May-07 10.00 10.0864 0.047330-May-07 10.00 10.0745 0.0354

ICICI Prudential Floating Rate Plan - Plan A - Fortnightly Dividend Option (Dec. 2006 onwards)


14-Dec-06 10.00 10.0290 0.026928-Dec-06 10.00 10.0300 0.027816-Jan-07 10.00 10.0419 0.039629-Jan-07 10.00 10.0277 0.025314-Feb-07 10.00 10.0335 0.031027-Feb-07 10.00 10.0269 0.024315-Mar-07 10.00 10.0345 0.031929-Mar-07 10.00 10.0427 0.040116-Apr-07 10.00 10.0566 0.054026-Apr-07 10.00 10.0288 0.026215-May-07 10.00 10.0485 0.045930-May-07 10.00 10.0369 0.0343

ICICI Prudential Emerging S.T.A.R. Fund - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit19-Jul-05 10.00 15.21 1.0018-May-06 10.00 23.93 3.0012-Jan-07 10.00 24.23 2.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Dynamic Fund - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit21-Sep-05 10.00 16.5757 2.0027-Apr-06 10.00 21.6998 2.0009-Feb-07 10.00 23.3124 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential FMCG Fund - Dividend Option


16-Mar-00 Rs. 10.00 11.45 1.0023-Mar-06 Rs. 10.00 34.47 3.0012-Jan-07 Rs. 10.00 35.25 1.80Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Tax Plan - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit16-Mar-00 10.00 22.06 6.0024-Jul-03 10.00 12.38 1.2025-Mar-04 10.00 16.09 4.5028-Dec-04 10.00 20.61 2.5023-Aug-05 10.00 26.98 2.5020-Mar-06 10.00 31.51 5.0010-Nov-06 10.00 29.77 2.5009-Feb-07 10.00 27.15 5.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Power - Dividend OptionRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit24-Jul-03 10.00 14.07 2.0023-Oct-03 10.00 18.62 3.0024-Dec-03 10.00 16.22 3.0025-Mar-04 10.00 12.68 1.5024-Mar-05 10.00 14.72 2.5026-Dec-05 10.00 17.77 2.008-Aug-06 10.00 19.33 2.0016-Mar-07 10.00 20.16 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Growth Plan - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit01-Mar-01 10.00 12.54 1.2015-Mar-02 10.00 10.83 0.8024-Jul-03 10.00 11.09 0.8006-Nov-03 10.00 14.76 2.5025-Mar-04 10.00 13.15 2.0017-Mar-05 10.00 14.68 1.0023-Mar-06 10.00 23.03 2.0015-Dec-06 10.00 25.03 2.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Discovery Fund - Dividend Option

Record Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit05-Apr-05 10.00 13.71 1.0011-Oct-05 10.00 17.99 1.5023-Mar-06 10.00 20.30 2.0024-Nov-06 10.00 20.68 2.00Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

ICICI Prudential Services Industries Fund - DividendRecord Date Face Value (Rs.) NAV (Rs) Dividend (Rs.)/Unit11-May-07 10.00 15.99 1.50Past performance may or may not be sustained in future. After payment of dividend theNAV will fall to the extent of dividend payout and statutory levy, if any

44

Key Features

Type

Investment Pattern(Under normalcircumstances)

Options

Default Option

Application Amount ###

Min. Addl. Investment ###

Entry Load*

Exit Load*$$$

Redemption ChequesIssued ##

Min. Redemption Amt.

Cut off time:Purchase/Switch inRedemption/Switch out $

Systematic InvestmentPlan (SIP)

Systematic WithdrawalPlan (SWP)

Systematic Transfer Plan(STP) $$

Recurring Expenses**Investment Mangmt. Exp.Other recurring expensesTotal

Funds at a glanceLiquid Plan

Open-ended Liquid Income Fund

Money Market upto 80% & DebtInstruments upto 20%

1. Growth Option2. Dividend Option

a) Dividend PayoutQuarterly & Half Yearly

b) Div. Reinvestmenti) Daily, Weekly & Monthlyii) Quarterly & Half Yearly

Dividend Reinvestment withweekly frequency.

a) Growth option : Rs.15,000b) Institutional option: Rs. 1 crc) Institutional Plus option: Rs. 3 crsd) Super Institutional Growth

option: Rs. 5 crs(plus in multiples of Re.1)

a) Growth option : Rs.5,000b) Institutional option: Rs. 1 lacc) Institutional Plus option: Rs. 1 lacd) Super Institutional Growth

option: Rs. 1 lac(plus in multiples of Re.1)

Nil

Nil

Generally within 1 Business Dayfor specified RBI locations andadditional 3 Business Days forNon-RBI locations. Same DayRedemption Facility (refer toKey Information Memorandum)

Rs. 5,000

12.00 noon3.00 p.m.

N.A.

N.A.

Available

0.70%0.30%1.00%

Income Plan

Open-ended Debt Fund

Debt Securities upto 75% & MoneyMarket & Cash upto 25%

1. Growth2. Growth-AEP (Appreciation &

Regular)3. Dividend^ (Quarterly & Half

Yearly)

Dividend Reinvestment withHalf Yearly frequency.

Rs. 5,000 (plus in multiples of Re. 1)Rs.25,000 for AEP

Rs. 500 & in multiples thereof

Nil

For investment of less than or uptoRs.10 lacs : 0.5% if investment heldfor less than or equal to a period of6 months For investment of aboveRs.10 lacs: Nil

Generally within 1 Business Day forspecified RBI locations andadditional 3 Business Days for Non-RBI locations

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 + 5post-dated cheques for a minimumof Rs. 1,000 each.

*****

Minimum of Rs. 500 and in multiplesof Re. 1/-

Available

1.25%0.75%

2.00%

Short Term Plan

Open-ended Income Fund

Debt Securities upto 100% & MoneyMarket & Cash upto 50%

1. Cumulative2. Dividend Reinvestment

(Fortnightly & Monthly)

Dividend Reinvestment withFortnightly frequency.

Rs.5,000 (plus in multiples of Re. 1)Rs.25,000 for Institutional option(plus in multiples of Re.1)


Nil

Nil


Rs. 500

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

1.25%1.00%

2.25%

Floating Rate Plan


65-100% = Floating Rate DebtInstruments. 0-35% = Fixed ratedebt instruments.

1. Cumulative2. Div. Reinvestment

(Fortnightly & Dailyfrequencies)

Option: Plan ASub option: Cumulative

a) Plan-A: Rs 10,000/-b) Plan-B: Rs.10 lacsc) Plan-C: Rs.3 croresd) Plan-D: Rs.5 crores(plus in multiples of Re.1)

Plans A & B: Rs.1000 plus in multiplesof Re.1Plan C: The minimum additionalinvestment amount can be anyamount provided the minimumbalance in the investors account atthe time of additional subscriptionincluding the amount proposed to beinvested, is not below Rs. 5Crore****.Plan D: Rs.1 lac.¥

Plan-A, B, C & D: Nil

Plan-A, B, C & D: For allinvestments made on or after April24, 2007, an exit load of 0.25% ofthe applicable NAV if theredumption/switch-out is madewithin 10 days from the date ofinvestment.

Generally Within 1 business dayfor Specified RBI locations andadditional 3 Business Days forNon-RBI locations.

Rs. 500/- and multiples thereof

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

Plan A Plan B Plan C

1.00% 0.75% 0.65%

Long Term FloatingRate Plan


65-100% = Floating Rate DebtInstruments. 0-35% = Fixed ratedebt instruments

1. Cumulative2. Div. Reinvestment

(Quarterly)

Option: Plan ASub option: CumulativeDividend: Automatic

Reinvestment

a) Plan-A: Rs 25,000/-b) Plan-B: Rs.1 crorec) Plan-C: Rs.5 crores(plus in multiples of Re.1)

Plans A & B: Rs.1000 (plus inmultiples of Re1)Plan C: The minimum additionalinvestment amount can be anyamount provided the minimumbalance in the investors account atthe time of additional subscriptionincluding the amount proposed to beinvested, is not below Rs. 5Crore****.

Plan-A, B & C : Nil

Plan-A: 0.50% for investments ofless than or equal to Rs. 1 Croreand redemption is made on orbefore the completion of sixmonths from the date of allotmentof units.Plan B & Plan C: Nil

Generally Within 1 business day forSpecified RBI locations andadditional 3 Business Days for Non-RBI locations.

Rs. 5,000/- and in multiples thereof;provided that minimum balanceunder a particular folio should notfall below the minumumapplication amount. This will notbe applicable for closing theaccount.

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

Plan A Plan B Plan C0.75% 0.60% 0.50%0.50% 0.30% 0.25%

1.25% 0.90% 0.75%

* The Trustees reserves the right to change/modify the load structure at a later date for the Schemes. ** Investors are requested to read the section on “Fees and Annual Recurringexpenses” in the Offer Documents of the respective schemes. The recurring expenses indicated above may change subject to ceilings under the Regulations. *** Entry load of 2.25% ofthe applicable NAV will be charged on the SIP/STP investment under this Scheme. Exit Load on the SIP/STP Invesment under this Scheme is Nil. *****For SIP/STP investment under this

45

Key Features

Type


Options

Default Option



Entry Load*

Exit Load*$$$






Systematic Transfer Plan(STP) $$


Funds at a glance

Scheme: Entry Load – Nil, Exit Load – Nil. Exceptions: For all SIP and STP investments registered under ICICI Prudential Power and ICICI Prudential Discovery Fund from June 21, 2006 toJuly 31, 2006: (i) If redemptions are made from June 21, 2006 to July 5, 2006 no exit load shall be charged; (ii) If redemptions are made after July 5, 2006 but on or before the end of sixmonths from the date of investment of each installment of SIP/STP investment, an exit load of 0.5% shall be charged. ^ Under the Dividend Option, the Unit-holder may choose betweenDividend Payout and Reinvestment Option. If not chosen, Default Option would be Dividend Payout. $ For all web-based transactions under the schemes of ICICI Prudential Mutual Fund,entered through the website of the fund viz. www.icicipruamc.com there would be a cooling off period of 30 minutes before the respective cut-off times of the relevant schemes. ###In case of all purchase transactions including additional purchase requests under all schemes except ICICI Prudential Liquid Plan, the AMC reserves the right to reject/reverse the transaction,if an amount of Rs. 1 Lakh and above is received by way of MICR cheques at the centers where high value clearing is available. In case of ICICI Prudential Index Fund, all the transactionfor Fresh/Additional purchases for a consideration of Rs.One lakh and above will be accepted only through High Value Cheques/Demand Drafts received before the cut-off time of 10.00a.m. for clearing of High Value Instruments or through Transfer Cheques received before 1.00 p.m. Æ For dividend of Rs.500 or less the Dividend will be Automatic Compulsory Reinvestment(irrespective of the option selected by the Unitholder) & for Dividend of more than Rs.500 will either be paid out or reinvested as opted by the Unitholders, If not selected the default optionwould be dividend reinvestment. Investors on or after July 24, 2006 will only have Dividend re-investment option. ## As per the Regulations, the Fund shall dispatch redemption proceedswithin 10 Business days of receiving the redemption request. Investors are advised to refer to the sections titled “Suspension of sale and redemption of units” and “Right to limitRedemption”. The default option for payment of redemption/dividend proceeds would be Direct Credit into their bank account (in case the investor has provided his bank mandate as oneof the banks participating in direct credit arrangement and if he fails to specify the mode of payment). **** Minimum additional application amount shall be applicable for investments byan investor by itself or for investments along with any of its group companies. Later on even if the net asset value under the folio falls below Rs. 5 crores, the investment can continue underthe Option C. ¥ The minimum additional application amount shall be applicable for investments by an investor by itself or for investments along with any of its group companies. Later oneven if the net asset value under the folio below Rs. 5 cores, the investment can continue under the ICICI Prudential Floating Rate Plan-Plan D. $$$ Where as a result of a redemption/ switch arising out of excess holding by an investor beyond 25% of the net assets of the scheme in the manner envisaged under specified SEBI circulars, such redemption / switch willnot be subject to exit load. $$ The minimum amount that can be transferred from one scheme to another is Rs. 1000/- for a minimum of 6 installments. The unitholder can avail theSTP facility for a maximum period of 10 years.

Flexible Income Plan


10 to 100% - Money market andDebentures with residual maturityof less than 1 year. 0 to 90% -Debt instruments with maturitymore than 1 year

1. Cumulative2. Dividend ReinvestmentÆ

(Daily & Weekly Frequencies)

Dividend Reinvestment withdaily frequency.

Rs.5,000 (plus in multiples of Re. 1)


Nil

Investments made: (a) before July24, 06 - Nil (b) on or after July 24,2006 - 0.50% of the applicable NAV,if the redemption is made within onemonth from the date of investment.Investment made on or after March28, 2007 - 0.25% of the applicableNAV, if the redemption/switch-outis made within 10 days from the dateof investment.


Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 + 5post-dated cheques for a minimumof Rs. 1,000 each

*****

Minimum of Rs. 500 and multiplesof Re. 1/-

Available

1.00%0.50%

1.50%

Gilt - Treasury

Open-ended short-term Gilt Fund

Gilt Securities (incl. Treasury Bills).Average Maturity normally not toexceed 3 years.

1. Growth2. Growth-AEP3. Dividend (Quarterly & Half

Yearly)

Dividend Reinvestment withQuarterly frequency.


Rs. 5,000 & in multiples thereof

Nil

Nil


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

0.75%0.35%

1.10%

Gilt - Investment

Open-ended medium-term Gilt Fund


1. Growth2. Growth-AEP3. DividendÆ (Half Yearly)

Dividend Reinvestment withHalf Yearly frequency.



Nil

Nil


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Available

0.75%0.40%

1.15%

Gilt - TreasuryPF Option

Open-ended Gilt Fund


1. Growth2. Growth-AEP (Monthly,

Quarterly, Half Yearly & Yearly)

Cumulative option



Nil

0.80% of applicable NAV in case theamount sought to be redeemed is notbeing invested under the Plan for aminimum period of 365 days. ExitLoad is NIL if the amount is investedfor more than 365 days.


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Not Available

2.25%

Gilt - InvestmentPF Option

Open-ended Gilt Fund


1. Growth2. Growth-AEP (Monthly,

Quarterly, Half Yearly & Yearly)

Cumulative option



Nil

0.60% of applicable NAV in case theamount sought to be redeemed is notbeing invested under the Plan for aminimum period of 365 days.


Rs. 5,000

3.00 p.m.3.00 p.m.

Not Available

Not Available

Not Available

1.10%

46

Key Features

Type

Investment Pattern(Under normal circumstances)

Options

Default OptionApplication Amount ###


Entry Load*

Exit Load*$$$

Redemption Cheques Issued ##



Systematic Investment Plan(SIP)

Systematic Withdrawal Plan (SWP)Systematic Transfer Plan (STP)Recurring Expenses**Investment Mangmt. Exp.Other recurring expensesTotal

Long Term Plan


Debt Instruments - 0% to 100% & MoneyMarket instruments - 0% to 10%

Cumulative & Dividend

Dividend ReinvestmentRs. 5,000 (plus in multiples of Re.1)

Rs. 500/- & in multilples thereof

Nil

Nil

Generally within 1 Business Day forspecified RBI locations and additional 3Business Days for Non-RBI locations.Rs. 500/- provided that minimum balanceunder a particular folio should not fall be-low Rs. 5,000

3.00 p.m.3.00 p.m.Monthly: Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1,000 each.

*****Minimum of Rs. 500 and in multiples of Re. 1/-Not Available

2.00%

Income Multiplier Fund –Regular Plan

An open-ended debt fund which investsupto 30% in equity.

Equity & Equity Related Securities0-30%, Debt instruments 65-100%, Cash &money market instruments 0-5%.

1. Cumulative2. Dividend (Monthly)

Dividend ReinvestmentRs.5,000 (plus in multiples of Re.1)

Rs.500 & in multiples thereof

Nil

(i) 1% - For investments of less than Rs. 5crores and if the investments are held forless than a period of 12 months; (ii) No ExitLoad for investments of Rs. 5 crores andabove.

Generally within 1 Business Day forspecified RBI locations and additional 3Business Days for Non-RBI locationsRs.500

3.00 p.m.3.00 p.m.Monthly: Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1,000 each.

*****Minimum of Rs.500 and multiples of Re. 1/-Available $$

1.00%1.25%

2.25%

Monthly Income Plan

An open-ended fund. Monthly income isnot assured and is subject to the availabilityof distributable surplus.Debt securities, money market instru-ments, securitised debt & Cash upto 85%,Equity & Equity related securities upto 15%

1. Cumulative2. AEP (Appreciation & Regular)3. Dividend (Monthly, Quarterly & Half

Yearly)Dividend Reinvestment (Monthly)a) Cumulative : Rs.5,000b) Dividend & AEP : Rs. 25,000(plus multiples of Re 1)Rs.500 & in multiples thereof under eachoptionNil

For investment of less than or upto Rs.10lakhs: 0.5% if investment held for less thanor equal to a period of 6 months Forinvestment of above Rs.10 lakhs: Nil

Generally within 1 Business Day forspecified RBI locations and additional 3Business Days for Non-RBI locationsRs.500

3.00 p.m.3.00 p.m.Dividend & AEP Option – Monthly andCumulative (without AEP) Option –Monthly: Min. Rs. 1,000 + 5 post-dtd.cheques for a minimum of Rs. 1,000 each.

*****Minimum of Rs.500 and multiples of Re. 1/-Available $$

1.25%1.00%

2.25%

Child Care Plan - Study

Open-ended fund (Study Plan)

Equity and Equity related securities 0-15%,Debt Securities, Money MarketInstruments, Securitised Debt and Cash85-100%Cumulative Option

Cumulative OptionRs. 5,000/-, additional in multiples of Re.1

Rs. 1,000/- & in multiples thereof

1.50%

1.00% if investment is redeemed within 3years.Nil if investment is redeemed after 3years but before the Beneficiary Childattains the age of 18.

Normally Within 3 business days

Rs. 1,000

3.00 p.m.3.00 p.m.Monthy : Minimum Rs 1000 + 5 post datedcheques for a min of Rs. 1,000/- each.Entry Load: 1.50% of applicable NAVExit Load: 1.00% of applicale NAV ifinvestment is redeemed within 3 years fromthe date of allotment, Nil thereafter.Minimum of Rs.500 and multiples of Re. 1/-Available (from Study Plan to Gift Plan)

1.25%1.00%

2.25%

Funds at a glance

Key FeaturesType


OptionsDefault Option

Application Amount ###Min. Addl. Investment ###Max. Amount Investment per applicationEntry Load*

Exit Load*$$$


Min. Redemption Amt.Cut off time:

Purchase/Switch inRedemption/Switch out $

Systematic Investment Plan (SIP)

Systematic Withdrawal Plan (SWP)Systematic Transfer Plan (STP) $$


Child Care Plan - GiftOpen-ended fund (Gift Plan)

Equity & Equity related securities65% to 80%, Debt Securities, MoneyMarket Instruments, Securitised Debt &Cash - 20%-35%.

Cumulative OptionCumulative Option

Rs. 5,000/-, additional in multiples of Re.1Rs.1,000/-Not Available1.50%

1.00% if investment is redeemed within 3years.Nil if investment is redeemed after 3years but before the Beneficiary Childattains the age of 18.

Normally Within 3 business days

Rs.1,000

3.00 p.m.3.00 p.m.Monthy : Minimum Rs 1000 + 5 post datedcheques for a min of Rs. 1,000/- each.Entry Load: 1.50% of applicable NAVExit Load: 1.00% of applicale NAV ifinvestment is redeemed within 3 years fromthe date of allotment, Nil thereafter.Minimum of Rs.500 and multiples of Re. 1/-

Not available

1.25%1.25%

2.50%

Balanced FundOpen-ended Balanced Fund

Equity and Equity related instruments –65% to 80% & Debt, Money Market andCash – 20% to 35%.

Growth & DividendDividend Reinvestment

Rs. 5,000 (plus in multiples of Re. 1)Rs. 500 & in multiples thereofNot Available(i) For investment of less than Rs.5Crores: 2.25% of applicable NAV;(ii) For investment of Rs.5 Crores &above: NILNil

Generally within 3 Business Days forspecified RBI locations and an additionalof 3 Business Days for Non RBI locationsRs. 500

3.00 p.m.3.00 p.m.Monthly: Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1000 each

***

Minimum of Rs.500 and multiples of Re. 1/-

Available

1.25%1.25%

2.50%

Blended Plan - A @@Open ended fund investing in a blend ofequity, derivatives, debt and money marketinstruments.Equity and Equity Related securities – 65%-80%; Derivative including Index Futures,Stock Futures, Index Options and StockOptions etc. – 0%-80%; Money Market,Debt instruments, securitised debt –20%-35%.Growth & DividendOption - GrowthSub-option - ReinvestmentRs. 5,000 (plus in multiples of Re. 1)Rs. 1,000 & in multiples of Re.1/-Rs. 10 Crores per applicationNil

0.50%, if the investment is redeemedwithin a period of 30 days from the date ofallotment. Nil, if the investment is redeemedafter 30 days from the date of allotment.

Generally within 3 Business Days forspecified RBI locations and an additionalof 3 Business Days for Non RBI locationsRs. 500 and in multiples of Re.1/-

3.00 p.m.3.00 p.m.Not available

Not available

Not available

1.25%1.25%

2.50%

Blended Plan - B @@Open ended fund investing in a blend ofequity, derivatives, debt and money marketinstruments.Equity and Equity Related securities – 0%-49%; Derivative including Index Futures,Stock Futures, Index Options and StockOptions etc. – 0%-49%; Money Market,Debt instruments, securitised debt– 51%-100%.Growth & DividendOption - GrowthSub-option - ReinvestmentRs. 5,000 (plus in multiples of Re. 1)Rs. 1,000 & in multiples of Re.1/-Not AvailableNil

0.50%, if the investment is redeemed withina period of 30 days from the date ofallotment. Nil, if the investment is redeemedafter 30 days from the date of allotment.

Generally within 1 Business Day forspecified RBI locations and an additional of3 Business Days for Non RBI locationsRs. 500 and in multiples of Re.1/-

3.00 p.m.3.00 p.m.Not available

Not available

Not available

1.00%1.25%

2.25%

@@ Default option for ICICI Prudential Blended Plan is Plan B.Exit Load for fresh and additional purchases (including SIPs and STPs) made in the schemes given hereinbelow during September 15, 2006 to October 16, 2006, the following willbe applicable: • ICICI Prudential Power, ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI Prudential Balanced Fund – (i) 0.50% of the applicable NAV if the investmentis made for an amount of less than Rs. 5 crores and is invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investment of Rs. 5 crores andabove. • ICICI Prudential Income Multiplier Plan – (i) 1.25% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of lessthan twelve months from the date of allotment. (ii) Nil for investment of Rs. 5 crores and above. • ICICI Prudential Monthly Income Plan – (i) 0.75% of the applicable NAV if the investment

47

Funds at a glance

Key Features

Type


Options

Default Option



Entry Load*

Exit Load* $$$



Cut off time:Purchase/Switch inRedemption/Switchout $

Systematic Invest-ment Plan (SIP)

Systematic With-drawal Plan (SWP)

Systematic TransferPlan (STP) $$


FMCG Fund

Open-ended FMCG Sectoral Fund

Equity and Equity relatedinstruments in FMCGCompanies upto 90% in &Debt, Money Market and Cashupto 10%

Growth & Dividend

Dividend Reinvestment

Rs. 5,000 (plus in multiples ofRe.1)


(i) For investment of lessthan Rs.5 Crores : 2.25% ofapplicable NAV;(ii) For investment of Rs.5Crores & above: NIL

Nil

Generally within 3 BusinessDays for specified RBIlocations and an additional of3 Business Days for Non RBIlocations

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000+ 5 post-dated cheques for aminimum of Rs. 1000 each

***

Minimum of Rs.500 andmultiples of Re. 1/-

Available

1.25%1.25%

2.50%

Technology Fund

Open-ended Equity Fund

Equity and Equity relatedinstruments 90 to 95% &Debt, Money Market andCash 5 to 10%

Growth & Dividend





Nil

Generally within 3 BusinessDays for specified RBIlocations and an additionalof 3 Business Days for NonRBI locations

Rs. 500

3.00 p.m.3.00 p.m.


***


Available

1.25%1.25%

2.50%

Dynamic Plan


Equity and Equity relatedinstruments 0 to 100% &Debt, Money Market andCash 0 to 100%





(i) For investment of lessthan Rs.5 Crores: 2.25% ofapplicable NAV;(ii) For investment of Rs.5Crores & above: NIL

Nil


Rs. 500 and in multiplesthereof

3.00 p.m.3.00 p.m.


***


Available

1.00%1.50%

2.50%

Power

Open-ended Growth Fund

Equity and Equity relatedsecurities including nonconvertible portion ofconvertible debentures -Upto 95% and at least 5% inDebt and Money Marketsecurities.






Nil


Rs. 500 and in multiplesthereof

3.00 p.m.3.00 p.m.


***


Available

1.25%1.25%

2.50%

Growth Plan


Equity and Equity relatedinstruments upto 95% & Debt,Money Market and Cash upto5%

Growth & Dividend





Nil

Generally within 3 BusinessDays for specified RBIlocations and an additional of3 Business Days for Non RBIlocations

Rs. 500

3.00 p.m.3.00 p.m.


***


Available

1.25%1.25%

2.50%

Tax Plan

Open-ended EquityLinked Saving Scheme

Equity and Equity relatedinstruments upto 90% & Debt,Money Market and Cash upto10%

Growth & Dividend


Rs. 500 (plus in multiples ofRe. 1)



Nil

Generally within 3 BusinessDays for specified RBIlocations and an additional of3 Business Days for Non RBIlocations after lock-in periodof 3 yrs.

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum of Rs. 500or multiples thereof & 5 post-dated cheques for a minimum ofRs. 500 for a block of 5 months inadvance.

***

Not available

Available

1.25%1.25%

2.50%

is made for an amount of less than or equal to Rs. 10 Lakhs and is invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investment of aboveRs. 10 Lakhs. • ICICI Prudential Child Care Plan Gift and Study Option – 1.25% of the applicable NAV if invested for a period of three years or less than three years from the date ofallotment.The exit load structure will also be applicable for switch-ins to any of the above schemes from the following open-ended debt schemes alone: (a) ICICI Prudential Liquid Plan(b) ICICI Prudential Floating Rate Plan (c) ICICI Prudential Sweep Plan - Cash Option. There will be no change in the exit load structure for all purchases, SIPs, STPs, Switch-ins made either before September 15, 2006 or after October 16, 2006.

48

Key Features

Type


Options

Default Option



Entry Load*

Exit Load* $$$






Systematic TransferPlan (STP) $$


SPIcE

An open-ended,exchange listed, indexlinked growth scheme

Securities comprisingthe SENSEX upto 100%& Upto 10% in Moneymarket instruments,convertible bonds &other securitiesincluding cash

–

–

One Unit (One unit =SENSEX/100)


Nil

NIL (In case there areno quotes on the BSE/DSE for five tradingdays consecutively, aninvestor can selldirectly to the fund atan exit load of 2.5% ofNAV)

Within 3 buisness days


3.00 p.m. during StockExchange WorkingHours

Not Available

Not Available

Not Available

1.00%

Index Fund

Open-ended Index LinkedGrowth Scheme

Equity stocks drawn from thecomponents of the S&P CNXNifty and the exchangetraded derivatives on the S&PCNX Nifty – upto 100%.Money Market instruments– upto 10%

Nifty

–

Rs.5,000 (plus multiples of Rs1000)

Rs.1000/-

1.00% of applicable NAV

Nil

Within 3 Business Days

Rs.1000

3.00 p.m.3.00 p.m.

Monthly/Quarterly: Mini-mum Rs.1,000/- + 5 post-datedcheques of Rs. 1,000/- each.Entry Load: Nil; Exit Load:0.5% of the applicable NAV,if the investment is redeemedwithin 1 year from the dateof allotment, Nil thereafter.


Available

0.70%0.55%

1.25%

Discovery Fund


Equity and Equity relatedsecurities - 80% to 100%and Cash & Money Mar-ket instruments - 0% to20%

Growth & Dividend

DividendReinvestment

Rs. 5,000 (plus inmultiples of Re.1)

Rs. 500 & in multiplesthereof

(1) For investment ofless than Rs. 5 Crores:Entry load at 2.25% ofapplicable Net Asset Value(NAV);(2) For investment ofRs.5 Crores and above:Entry load is Nil.

Nil

Within 3 Business Daysfor specified RBI loca-tions and an additional of3 Business Days for Non-RBI locations.

Rs.500

3.00 p.m.3.00 p.m.

Monthly: MinimumRs.1,000 + 5 post-datedcheques of Rs. 1,000each

***


Available

1.25%1.25%

2.50%

Emerging S.T.A.R. (StocksTargeted At Returns)

Fund


Equity and Equity Linked Instruments -90% to 100% and Debt Securities, Cash& Money Market instruments - 0% to10%

Growth & Dividend


Rs. 5,000 (plus in multiples of Re.1)


(1) For investment of less than Rs. 5Crores: Entry load at 2.25% of applicableNet Asset Value (NAV);(2) For investment of Rs.5 Crores andabove: Entry load is Nil.

The exit load structure for fresh andadditional purchases for amounts lessthan Rs. 5 crores (including switch-insfrom open ended debt schemes) madeby unitholders during the period May 1,2006 to May 31, 2006 will be – (i) 0.5%of the applicable NAV, if the amountsought to be redeemed or switched outis invested for a period of six months orless than six months from the date ofallotment; (ii) Nil, if the amount soughtto be redeemed or switched out isinvested for a period of more than sixmonths from the date of allotment. Thisload structure will be applicable onlyfor the purchases (including switch-insfrom open ended debt schemes) madeduring the period May 1, 2006 to May31, 2006. For all other purchases madeeither before May 1, 2006 or after May31, 2006 no exit load will be charged onthe redemptions or switch-outs made.

Within 3 Business Days from the dateof acceptance of Redemption requestat any of the Customer ServiceCentres.

Rs.500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 + 5 post-dated cheques of Rs. 1,000 each

***

Minimum of Rs.500 and multiples ofRe. 1/-

Available

2.50%

Infrastructure Fund


Equity and Equity relatedinstruments in Infrastructuresector 70% to 100% & debt,money market instrument -0% to 30%

Growth & Dividend




(i) For all purchases of lessthan Rs. 5 Crore perTransaction: 2.25% ofapplicable NAV;(ii) For purchases of Rs.5Crore & above perTransaction : NIL

1) For investment madebefore 28-Nov-05:A) 1% of applicable NAV

if i) Amount originallyinvested per transactionis less than Rs.5 croresand Redemption madebefore completion of 6months from the date ofallotment of units.

B) Nil – if i) Originalinvestment is 5 crores ormore per transaction.Or ii) RedemptionRequest made on/after 6months from date ofallotment irrespective oforiginal investment.

2) Nil for investments madeon or after 28-Nov-05.

Generally within 3 Business Daysfor specified RBI locations andan additional of 3 Business Daysfor Non-RBI locations

Rs. 500

3.00 p.m.3.00 p.m.

Monthly: Minimum Rs. 1,000 +5 post-dated cheques for aminimum of Rs. 1000 each

***

Minimum of Rs.500 and multiplesof Re. 1/-

Available

1.25%1.25%2.50%

Services IndustriesFund


Equity and equity relatedinstruments in services sector70% to 100% & debt, moneymarket instruments - 0% to 30%

Growth & Dividend payout& Dividend Reinvestment


Rs. 5000 per application and inmultiples of Re.1 thereafter

Rs. 500 per application and inmultiples of Re.1 thereafter

(i) For all purchases of lessthan Rs. 5 crore pertransaction:2.25% ofapplicable NAV;(ii) For all purchases of morethan Rs. 5 crore & above pertransaction:NIL

For investment made duringNew Fund Offer (NFO) Period:(i) 1% of applicable NAV ifamount originally invested pertransaction is less than Rs. 5crores and redemption madebefore completion of 6 monthsfrom the date of allotment.(ii) Nil if (a) Original investmentis 5 crores or more pertransaction and the redemptionrequest is made within 6 monthsor beyond; or (b) RedemptionRequest is made on/after 6months from the date ofallotment irrespective of anyamount invested.For investment made afterNFO Period: Nil

Generally within 3 business daysfor specified RBI locations andan additional 3 Business days forNon-RBI locations

Rs 500 and in multiples thereof

3.00 p.m.3.00 p.m.

Monthly:Minimum Rs. 1000 + 5Installment for a minimum of Rs.1000 each and in multiples of Re.1 thereafter

***

Available

Available

1.25%1.25%

2.50%

Funds at a glance

49

Funds at a glance

Key Features

Type


Options

Default Option

Sub-Options

Default Sub-Options

Min. Application Amount ###


Entry Load*

Exit Load* $$$





Systematic Withdrawal Plan (SWP)

Systematic Transfer Plan (STP) $$


Equity & Derivatives FundIncome Optimiser Plan


65% to 80% in Equity and Equity Derivatives (equity unhedgedexposure limited to 5%), 20% to 35% in Debt instruments.

Retail Option and Institutional Option

Retail Option

Growth and Dividend with dividend payout and dividendreinvestment facilities.


Retail Option: Rs.5,000 (plus in multiples of Re.1)Institutional Option: Rs.5 crores (plus in multiples of Re.1)

Rs.1,000/- (plus in multiples of Re.1/-)

Nil

i) 0.5% of the applicable NAV, if the investment is redeemedwithin a period of 6 months from the date of allotment.

ii) Nil – if the investment is redeemed after 6 months fromthe date of allotment.

Within 10 Business Days from the date of acceptance of atransaction request.

Rs. 500/-

3.00 p.m.3.00 p.m.

Retail Option (Monthly): Minimum Rs. 1,000 + 5 post-datedcheques for a minimum of Rs. 1000 each.Entry load for SIP & STP investments: NilExit load for SIP & STP investments:i) 0.5% of the applicable NAV, if the investment is redeemed

within a period of 6 months from the date of allotment.ii) Nil – if the investment is redeemed after 6 months from

the date of allotment.

Retail Option: Rs.500 and in multiples of Re. 1/- providedminimum balance should not fall below Rs.5000/-.

Available

1.25%1.25%2.50%

Equity & Derivatives FundWealth Optimiser Plan


65% to 100% in Equity and Equity Derivatives (equityunhedged exposure limited to 80%), 0% to 35% in Debtinstruments.

Regular Option

–

Growth and Dividend with dividend payout and dividendreinvestment facilities.


Regular Option: Rs.5,000 (plus in multiples of Re.1)

Rs.1,000/- (plus in multiples of Re.1/-)

i) 2.25% of the applicable NAV, if the investment amountis less than Rs.5 crores

ii) Nil – for investment of Rs.5 crores and above.

i) 0.50% of the applicable NAV if redemption/switchouts ismade within 6 months from the date of investment.

ii) Nil for investment of Rs.5 crores and above and redeemedany time.

Within 10 Business Days from the date of acceptance of atransaction request.

Rs 500/-

3.00 p.m.3.00 p.m.

Regular Option (Monthly): Minimum Rs. 1000 + 5 post datedcheques for a minimum of Rs. 1000 each.Entry load for SIP & STP investments:i) 2.25% of the applicable NAV, if the investment amount is

less than Rs.5 crores.ii) Nil – if the iinvestment amount is Rs.5 crores or moreExit load for SIP & STP investments : Nil

Regular Option: Rs.500 and in multiples of Re. 1/- providedminimum balance should not fall below Rs.5000/-.

Available

1.25%1.25%2.50%

Statutory Details: ICICI Prudential Mutual Fund (erstwhile Prudential ICICI Mutual Fund) (the Fund) was set up as a Trust sponsored by Prudential plc (through its wholly owned subsidiary namely Prudential Corporation HoldingsLtd) and ICICI Bank Ltd. ICICI Prudential Trust Limited (erstwhile Prudential ICICI Trust Limited ) (Trust company) is the Trustee to the Fund and ICICI Prudential Asset Management Company Ltd. (erstwhile Prudential ICICI AssetManagement Company Limited) (AMC) is the Investment Manager to the Fund. ICICI Bank Ltd (ICICI Bank) and Prudential Plc (acting through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) are thepromoters of the AMC and the Trust Company. ICICI Bank currently holds 51% stake in both the companies and the balance 49% stake in both the companies is held by Prudential plc (acting through its wholly owned subsidiarynamely Prudential Holdings Corporation Ltd). Prudential Plc (acting through its wholly owned subsidiary namely Prudential Corporation Holdings Ltd) transferred 6% of its shareholding in both the companies to ICICI Bank w.e.f26th August 2005.Subsequently in accordance with the approval granted by the Board of Directors and the shareholders of the AMC and the Trust Company the name of the AMC has been changed to ICICI Prudential AssetManagement Company Limited and the name of the Trust Company has been changed to ICICI Prudential Trust Limited. SEBI has vide its letter no IMD/PM/84968/07 dated January 23, 2007 conveyed its no objection to the saidchange of names of the AMC & the Trust company. The said change of names has also been approved by the Registrar of Companies, NCT of Delhi & Haryana, Ministry of Company Affairs, Govt of India. The Board of Directorsof the Trust company have at their meeting held on 20th February 2007 accorded approval for the change of name of the Mutual Fund to ICICI Prudential Mutual Fund as well as of the various schemes /plans/options there under.SEBI has vide its Letter Nos IMD/PM/90168/07 & IMD/PM/90170/07 dated 2nd April 2007 accorded approval for the same. Risk Factors: Mutual Funds and securities investments are subject to market risks and there is no assuranceor guarantee that the objectives of the Schemes will be achieved. As with any securities investment, the NAV of the Units issued under the Schemes can go up or down, depending on the factors and forces affecting the capitalmarkets. Past performance of the Sponsors, AMC/Fund does not indicate the future performance of the Schemes of the Fund. The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes beyondthe contribution of an amount of Rs.22.2 lacs, collectively made by them towards setting up the Fund and such other accretions and additions to the corpus set up by the Sponsors. • ICICI Prudential Growth Plan^ (An open-ended equity fund. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: Nil; ICICI Prudential Income Plan (An open-ended Debt Fund. Objective is to generate income through investments indebt securities), Entry Load: Nil, Exit Load: For investment of less than or upto Rs. 10 Lakhs : 0.50% of applicable Net Asset Value (NAV) if the investment held for less than or equal to a period of 6 months; For investment of aboveRs. 10 Lakhs: Nil; ICICI Prudential Liquid Plan (An open-ended Liquid Income Fund. Objective is to generate reasonable returns while providing high levels of liquidity), Entry Load: Nil, Exit Load: Nil; ICICI Prudential FMCGFund^ (An open-ended FMCG Sectoral Fund. Objective is to generate long term capital appreciation through investments primarily in FMCG sector), Entry Load: **, Exit Load: Nil; ICICI Prudential Tax Plan^ (An open-endedEquity Linked Saving Scheme. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: Nil; ICICI Prudential Gilt Fund - Treasury Plan (An open-ended short-term Gilt Fund. Objective is to generateregular returns through investments made in gilts), Entry Load: Nil, Exit Load: Nil; ICICI Prudential Gilt Fund - Investment Plan (An open-ended medium-term Gilt Fund. Objective is to generate regular returns throughinvestments made in gilts), Entry Load: Nil, Exit Load: Nil; ICICI Prudential Balanced Fund^ (An open-ended Balanced Fund. Objective is to generate long term capital appreciation and current income), Entry Load: **, ExitLoad: Nil; ICICI Prudential Technology Fund^ (An open-ended Equity Fund. Objective is to generate long term capital appreciation), Entry Load: **, Exit Load: Nil; ICICI Prudential Monthly Income Plan (An open endedfund. Monthly income is not assured and is subject to the availability of distributable surplus) (Objective is to generate regular income through investments in fixed income securities), Entry Load: Nil, Exit Load: Forinvestment of less than or upto Rs. 10 Lakhs : 0.50% of applicable Net Asset Value (NAV) if the investment held for less than or equal to a period of 6 months; For investment of above Rs. 10 Lakhs : Nil; ICICI Prudential FixedMaturity Plan – Series 30 - 13 Months Plan (A close-ended Debt Fund. Objective is to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the timeprofile of the Scheme), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Hybrid Fixed Maturity Plan -13 months Plan (A close-ended Income Fund. The primary objective of the Scheme is to seek to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with thetime profile of the Plan. The secondary objective of the Scheme is to generate long-term capital appreciation by investing a portion of the Scheme's assets in equity and equity related instruments), Entry Load: Nil, Exit Load: Nil- for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan – Series 34 - One Year Plan A, One Year Plan B, FifteenMonths Plan, Sixteen Months Plan, Seventeen Months Plan & Eighteen Months Plan (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio

Statutory Details & Risk Factors

Contd...

of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan.), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made duringrepurchase facility period; ICICI Prudential Fixed Maturity Plan - Series 35 – Thirteen Months Plan A & Thirteen Months Plan B, One Year Plan (A close-ended Debt Fund. Objective of the Plan under the Schemeis seeking to generate regular returns by investing in a portfolio of fixed income securities/debt instruments normally maturing in line with the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions madeon Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 37 – Fourteen Months Plan, One Year Plan - A (A close-ended Debt Fund.Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan. Entry Load:Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan - Series 37 – Three Months Plan A & ThreeMonths Plan B (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in linewith the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period); ICICI Prudential Fixed Maturity Plan- Series 37 – Three Months Plus Plan A (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debt instrumentsnormally maturing in line with the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period); ICICI PrudentialFixed Maturity Plan - Series 34 – Six Months Plan (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generate regular returns by investing in a portfolio of fixed income securities/ debtinstruments normally maturing in line with the time profile of the Plan. Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicable NAV for redemptions made during repurchase facility period);ICICI Prudential Fixed Maturity Plan - Series 38 –Three Months Plan A, Three Months Plan B & Three Months Plan C – (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generateregular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 1% of the applicableNAV for redemptions made during repurchase facility period; ICICI Prudential Fixed Maturity Plan - Series 38 –One Year Plan A – (A close-ended Debt Fund. Objective of the Plan under the Scheme is seeking to generateregular returns by investing in a portfolio of fixed income securities/ debt instruments normally maturing in line with the time profile of the Plan), Entry Load: Nil, Exit Load: Nil - for redemptions made on Maturity, 2% of the applicableNAV for redemptions made during repurchase facility period; ICICI Prudential Child Care Plan (Study Plan: An open-ended fund. Objective is to generate income by creating a portfolio that is invested in debt, money marketinstruments and equity and equity related securities. Gift Plan: An open-ended Fund. Objective is to generate capital appreciation by creating a portfolio that is invested in equity and equity related securities and debt and moneymarket instruments), Entry Load for both the plans are 1.50%. The Exit Load for both the Plans are 1%, if investment is redeemed within 3 years. (2) Nil, if investment is redeemed after 3 years but before the Unitholder attainsthe age of 18; ICICI Prudential Power^ (An open-ended Growth Fund. Objective is to generate long term capital appreciation through investments in core sectors & associated feeder industries), Entry Load: **, Exit Load:Nil; ICICI Prudential Short Term Plan (An open-ended Income Fund. Objective is to generate Income through investments in debt securities) Entry Load: Nil, Exit Load: Nil; ICICI Prudential Long Term Plan (An open-endedIncome Fund. Objective is to generate income through investment in range of debt and money market instruments while maintaining optimum balance of yield, safety and liquidity), Entry Load: Nil, Exit Load: Nil; ICICI PrudentialSweep Plan (An open-ended Liquid Fund. Objective is to provide reasonable returns, commensurate with low risk while providing a high level of liquidity, through investments made primarily in money market and debt securities),Entry Load: Nil, Exit Load: Nil; ICICI Prudential Index Fund (An open-ended index linked Growth Scheme. Objective is track the returns of S&P CNX Nifty Index through investment in stocks drawn from constituents of Nifty),Entry Load: 1% of the Applicable NAV, Exit Load: NI; ICICI Prudential Flexible Income Plan (An open-ended Income Fund. Objective is to generate income through investments in a range of debt instruments and money marketinstruments of various maturities with a view to maximising income while maintaining the optimum balance of yield, safety and liquidity) Entry Load: Nil, Exit Load: Investments made: (a) before July 24, 06 - Nil (b) on or afterJuly 24, 2006 - 0.50% of the applicable NAV, if the redemption is made within one month from the date of investment. Investment made on or after March 28, 2007 - 0.25% of the applicable NAV, if the redemption/switch-out is made within 10 days from the date of investment; ICICI Prudential Dynamic Plan^ (An open-ended Equity Fund. Objective is to generate capital appreciation by actively investing in equity and equity related securitiesand for defensive consideration in debt / money market instruments), Entry Load: **, Exit Load: Nil; SENSEX Prudential ICICI Exchange Traded Fund (“SPIcE”) (An open-ended exchange listed, index linked growth scheme.Objective is to provide the investment returns that closely corresponds to the total return of securities as represented by the SENSEX). Entry Load: Nil, Exit Load: 2.5% of applicable NAV in case of no quotes on the BSE for fivetrading days consecutively and an investor redeeming directly from the Fund; ICICI Prudential Floating Rate Plan – Option A, B, C & D (An open-ended income fund. Objective is to generate income consistent with the prudentrisk from a portfolio comprising substantially of floating rate debt instruments, fixed rate debt instruments swapped for floating rate return, and also fixed rate instruments and money market instruments) Entry Load : Nil, ExitLoad: For all investments made on or after April 24, 2007, an exit load of 0.25% of the applicable NAV if the redumption/switch-out is made within 10 days from the date of investment. ICICI Prudential Advisor Series(An open-ended asset allocation fund, which is of the nature of Fund of Funds, comprising there under five investment Plans, with a primary objective to generate returns through investment in underlying schemes of ICICI PrudentialMutual Fund) Entry Load: For ICICI Prudential Very Cautious Plan and ICICI Prudential Cautious Plan is Nil and for ICICI Prudential Moderate Plan, ICICI Prudential Aggressive Plan and ICICI Prudential Very Aggressive Plan, theEntry Load is 1%, 1.50% and 1.75% respectively, Exit Load: Nil, Further, for investments by the Fund of Funds scheme, in underlying schemes of ICICI Prudential Mutual Fund, there would not be any entry load / exit load. ICICIPrudential Gilt Fund Investment Plan - PF Option (An open-ended Medium Term Gilt Fund. Objective is to generate income through investments in Gilts of various maturities) Entry Load: Nil, Exit load : 0.60% of a NAVin case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 days, ICICI Prudential Gilt Fund Treasury - PF Option (An open-ended Gilt Fund. Objective is to generate incomethrough investments in Gilts of various maturities) Entry Load: Nil, Exit load: 0.80% of a NAV in case the amount sought to be redeemed is not being invested under the Plan for a minimum period of 365 day; ICICI PrudentialIncome Multiplier Fund (An open-ended debt fund which invests upto 30% in equity. Objective is to generate long-term capital appreciation from a portfolio that is invested predominantly in debt and money market securitiesand the balance in equity and equity related securities) Entry Load: Nil, Exit Load: (i) 1% - For investments of less than Rs. 5 crores and if the investments are held for less than a period of 12 months; (ii) No Exit Load for investmentsof Rs. 5 crores and above; ICICI Prudential Discovery Fund^ (An open-ended Equity Fund. Objective is to generate returns through a combination of dividend income and capital appreciation by investing primarily in a well-diversified portfolio of value stocks) Entry Load: **, Exit Load: Nil; ICICI Prudential Long Term Floating Rate Plan – Option A, B & C (An open-ended Income Fund. Objective is to generate income through investmentsin a range of debt and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity) Entry Load : Nil, Exit Load : Nil for Options B andC and for Option A - 0.50% for investments of less than or equal to Rs. 1 Crore and redemption is made on or before the completion of six months from the date of allotment of units; ICICI Prudential Emerging S.T.A.R. (StocksTargeted At Returns) Fund^ (An open-ended Equity Fund. Primary objective is to generate capital appreciation by actively investing in diversified mid cap stocks. The scheme will invest primarily in companies that have a marketcapitalisation between 100 crores and 2000 crores.) Entry Load: **, Exit Load: The exit load structure for fresh and additional purchases for amounts less than Rs. 5 crores (including switch-ins from open ended debt schemes)made by unitholders during the period May 1, 2006 to May 31, 2006 will be – (i) 0.5% of the applicable NAV, if the amount sought to be redeemed or switched out is invested for a period of six months or less than six months fromthe date of allotment; (ii) Nil, if the amount sought to be redeemed or switched out is invested for a period of more than six months from the date of allotment. This load structure will be applicable only for the purchases (includingswitch-ins from open ended debt schemes) made during the period May 1, 2006 to May 31, 2006. For all other purchases made either before May 1, 2006 or after May 31, 2006 no exit load will be charged on the redemptions orswitch-outs made; ICICI Prudential Blended Plan (An open ended fund investing in a blend of equity, derivatives, debt and money market instruments under two Plans viz. Plan A and Plan B. Objective of Plan A under the schemeis to provide capital appreciation and income distribution to unitholders by investing in equity & equity related securities including derivatives and the balance portion in debt securities. Objective of Plan B under the scheme isto provide capital appreciation and income distribution to unitholders by investing predominantly in debt securities and the balance portion in equity & equity related securities including derivatives. Entry Load: Nil. Exit Load: Underboth the Plans viz., Plan A and Plan B, in case the amount sought to be redeemed is not invested by the investor for a period of 30 days from the date of allotment, an exit load @ 0.50% of applicable NAV will be imposed.); ICICIPrudential Infrastructure Fund^ (An open-ended equity scheme. Objective is to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of thecompanies belonging to the infrastructure industries and balance in debt securities and money market instruments including call money), Entry Load: For all purchases of less than Rs.5 crore per transaction - 2.25% of applicableNAV, For Purchases of Rs.5 crores and above per transaction - Nil, Exit Load: For Investments made before November 28, 2005 - (i) If the amount originally invested per transaction is less than Rs. 5 crores and the redemptionrequest is made before completion of 6 months from the date of allotment of units - 1.00%, (ii) If the amount originally invested per transaction is Rs. 5 crores or more and whether the redemption is sought within 6 months orbeyond; or Any amount invested, for which the redemption request is made on or after the completion of 6 months from the date of allotment of units - No exit load; For investments made from November 28, 2005 onwards: Noexit load will be charged for investments made under the Scheme on or after November 28, 2005 irrespective of the amount invested; ICICI Prudential Services Industries Fund (PISIF)^ (An open-ended equity Scheme.Objective: to generate capital appreciation and income distribution to unitholders by investing predominantly in equity/equity related securities of the companies belonging to the service industry and balance in debt securitiesand money market instruments including call money), Entry Load: For all purchases of less than Rs.5 crore per transaction - 2.25% of applicable NAV, For Purchases of Rs. 5 crores and above per transaction - Nil; Exit Load: ForInvestments made during the New Fund Offering period: (i) 1% - If the amount originally invested per transaction is less than Rs. 5 crores and the redemption request is made before completion of 6 months from the date of allotmentof units. (ii) Nil - If the amount originally invested per transaction is Rs. 5 crores or more and whether the redemption is sought within 6 months or beyond; or Any amount invested, for which the redemption request is made onor after the completion of 6 months from the date of allotment of units. For investments made after New Fund Offer: Nil; ICICI Prudential Fusion Fund (A close-ended diversified equity scheme, with a maturity period of 5years, that seeks to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of companies across large, mid and small market capitalization. Entry Load: Nil, Exit Load: For theredemptions made before the maturity date of the Scheme i.e. redemptions made during the repurchase facility period, the following exit load structure will be applicable: (i) 5% of the applicable NAV, if the amount sought tobe redeemed is invested for a period of one year or less than one year from the date of allotment; (ii) 4% of the applicable NAV, if the amount sought to be redeemed is invested for a period more than one year but less than orequal to two years from the date of allotment; (iii) 3% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than two years but less than or equal to three years from the date of allotment;(iv) 2% of the applicable NAV, if the amount sought to be redeemed is invested for a period of more than three years but less than or equal to four years from the date of allotment; (v) 1% of the applicable NAV, if the amountsought to be redeemed is invested for a period of more than four years from the date of allotment but redeemed before the date of maturity of the Scheme; ICICI Prudential Equity & Derivatives Fund – Income OptimiserPlan [An open-ended equity fund. Objective is to seek to generate low volatility returns by using arbitrage and other derivative strategies in equity markets and investments in short-term debt portfolio. Entry Load (inluding SIP/STP investments): Nil, Exit Load (inluding SIP/STP investments w.e.f. 5/01/07): (i) 0.5% of the applicable NAV, if the investment is redeemed within a period of 6 months from the date of allotment. (ii) Nil – if the investment is redeemedafter 6 months from the date of allotment]; ICICI Prudential Equity & Derivatives Fund – Wealth Optimiser Plan [An open-ended equity fund. Objective is to seek to provide capital appreciation and income distribution tothe investors by using equity derivatives strategies, arbitrage opportunities and pure equity investments. Entry Load (inluding SIP/STP investments): (i) 2.25% of the applicable NAV, if the investment amount is less than Rs.5 crores.(ii) Nil – for investment of Rs.5 crores and above. Exit Load: 0.5% of the applicable NAV, if the redemption/switch-out is made within 6 months from the date of investment, Nil for the investment of Rs.5 crores and above and redeemedat any time (Exit Load for SIP/STP investment is Nil)]; ICICI Prudential Fusion Fund Series – II [A close-ended diversified equity Scheme, with a maturity period of 3 years, that seeks to generate long-term capitalappreciation by investing predominantly in equity and equity related instruments of companies across large, mid and small market capitalization. Asset Allocation Pattern: Equity & equity related securities – 70% to 100%,Debt & Money Market Instruments* (including cash and cash equivalent) – 0 to 30%]. Entry Load: Nil, Exit Load: No exit load will be charged. However, being a close-ended Scheme, for redemptions made before theMaturity Date of the Scheme, i.e. redemptions made during the repurchase facility period, the AMC will redeem the units after recovering the balance proportionate unamortized new fund offer expenses in accordancewith SEBI Circular dated April 4, 2006. These are the names of the Schemes and do not in any manner indicate either the quality of the Schemes or their future prospects and returns. ** Entry Load for all the Equity Funds:(i) For investment of less than Rs.5 crores is 2.25% of applicable NAV; (ii) For investment of Rs.5 crores and above is Nil. No entry load will be payable in respect of switch transaction from one equity scheme of ICICI Prudentialto another equity scheme of ICICI Prudential. Further, for investments by a Fund of Funds Scheme(s) in various schemes of ICICI Prudential Mutual Fund, there would not be any entry load / exit load charged by the underlying schemes.^ For SIP & STP Investments: Entry load of 2.25% of the applicable NAV will be charged on the amount invested under the scheme(s). Exit Load: Nil. Exceptions: For all SIP and STP investments registered under

ICICI Prudential Power and ICICI Prudential Discovery Fund from June 21, 2006 to July 31, 2006: (i) If redemptions are made from June 21, 2006 to July 5, 2006 no exit load shall be charged; (ii) If redemptions aremade after July 5, 2006 but on or before the end of six months from the date of investment of each installment of SIP/STP investment, an exit load of 0.5% shall be charged. Load Structure on SIP & STP investments underthe following schemes are as follows: • ICICI Prudential Child Care Plan (Gift Plan & Study Plan) – Entry Load: 1.50% of applicable NAV. Exit Load: 1.00% of Applicable NAV if the investment is redeemed within3 years from the date of allotment, Nil thereafter • ICICI Prudential Moderate Plan – Entry Load: 1% of applicable NAV; Exit Load: Nil • ICICI Prudential Aggressive Plan – Entry Load: 1% of applicable NAV; ExitLoad: 0.5% of the applicable NAV, if the units are redeemed before completion of 2 years from the date of allotment • ICICI Prudential Very Aggressive Plan – Entry Load: 1% of applicable NAV; Exit Load: 0.75% ofthe applicable NAV, if the units are redeemed before completion of 2 years from the date of allotment • ICICI Prudential Index Fund – Entry Load: Nil; Exit Load: 0.5% of the applicable NAV, if the investment is redeemedwithin 1 year from the date of allotment, Nil thereafter • No entry or exit load will be charged on the SIP investments under ICICI Prudential Flexible Income Plan, ICICI Prudential Long Term Plan, ICICI Prudential Income Plan,ICICI Prudential Monthly Income Plan, ICICI Prudential Income Multiplier Fund, ICICI Prudential Very Cautious Plan and ICICI Prudential Cautious Plan. Exit Load for fresh and additional purchases (including SIPs and STPs) madein the schemes given hereinbelow during September 15, 2006 to October 16, 2006, the following will be applicable: • ICICI Prudential Power, ICICI Prudential Dynamic Plan, ICICI Prudential Discovery Plan, ICICI PrudentialBalanced Fund – (i) 0.50% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investmentof Rs. 5 crores and above. • ICICI Prudential Income Multiplier Plan – (i) 1.25% of the applicable NAV if the investment is made for an amount of less than Rs. 5 crores and is invested for a period of less than twelve months fromthe date of allotment. (ii) Nil for investment of Rs. 5 crores and above. • ICICI Prudential Monthly Income Plan – (i) 0.75% of the applicable NAV if the investment is made for an amount of less than or equal to Rs. 10 Lakhs andis invested for a period of six months or less than six months from the date of allotment. (ii) Nil for investment of above Rs. 10 Lakhs. • ICICI Prudential Child Care Plan Gift and Study Option – 1.25% of the applicable NAV if investedfor a period of three years or less than three years from the date of allotment. The exit load structure will also be applicable for switch-ins to any of the above schemes from the following open-ended debt schemes alone: (a) ICICIPrudential Liquid Plan (b) ICICI Prudential Floating Rate Plan (c) ICICI Prudential Sweep Plan - Cash Option. There will be no change in the exit load structure for all purchases, SIPs, STPs, Switch-ins made eitherbefore September 15, 2006 or after October 16, 2006.

ICICI Prudential Mutual Fund Corporate Office(Erstwhile Prudential ICICI Mutual Fund)

Peninsula Tower, 8th Floor, Peninsula Corporate Park, Ganpatrao Kadam Marg, Off. Senapati Bapat Marg,Lower Parel, Mumbai – 400 013. Telephone No.: 022-24997000 Fax No.: 022-2499 7029

Website: www.icicipruamc.com E-mail: [email protected]