* Transaction Costs

Transaction cost applicable for equity and debt securities given below:

Equity

Transactions up to Rs. 1 Million - 1.425 percent

Divided as follows:

Net amount to the broker - 1.000

S.E.C. - 0.090

C.S.E. - 0.105

C.D.S. - 0.030

Govt. Cess tax - 0.200

(Subject to a minimum brokerage of Rs. 10/- per contract and a minimum CDS fee of Rs. 5/-)

Transactions over Rs. 1 Million - 1.225 percent

Divided as follows:

Net amount to the broker - 0.800

S.E.C. - 0.090

C.S.E. - 0.105

C.D.S. - 0.030

Govt. Cess tax - 0.200

Transactions over Rs. 100 Million

Divided as follows:

Minimum brokerage (floor) - 0.1000 percent

SEC Cess - 0.0450 percent

CSE Fees - 0.0525 percent

CDS Fees - 0.0150 percent

Share Transaction Levy - 0.2000 percent

Intra day Trading:

With effect from February 15, 2006, the transaction fee due to the broker, CSE, CDS and SEC on intra day trades, where a client buys and sells or sells and buys the same day through the same broker will not be charged on one side of the transaction.

Corporate Debt:

All Transactions - 2 basis points

(Divided equally among S.E.C, C.S.E. & C.D.S.)

Broker to Client - Negotiable

Government Debt:

No fees charged as S.E.C, C.S.E. & C.D.S. fees.

Broker to Client - Negotiable