LONDON, December 7, 2009: Religare Hichens Harrison, a part of Religare Enterprises Ltd. (REL), a diversified financial services group, is pleased to announce another senior appointment to its global investment banking business with the arrival of Mr. Nick Holtby as Global Head of Trading and Sales Trading. Nick will be based in London.

Hichens Harrison, believed to be one of London’s oldest stock brokerage firms was acquired by REL in 2008 and forms the platform on which it has committed to build out a specialist emerging markets investment bank.

Nick’s appointment comes close on the heels of the appointment of Martin Newson as the CEO of the company’s Global Investment Banking Business, Religare Hichens Harrison (RHH). The hire of Nick Holtby is expected to further Religare’s commitment to become a leading specialist emerging markets investment bank.

Commenting on the appointment, Martin Newson, said, “I am delighted to announce the addition of another senior member to our team. Nick’s client trading and execution expertise and market relationships will be invaluable in helping Religare achieve its goal of establishing a complete emerging markets investment banking offering.”

Nick is highly regarded and has previously spent 19 years at UBS where he was Head of European Client Trading and Execution and helped build the European equity franchise. Nick was a member of the European Equity Management Committee and the UBS Investment Bank Board.

Possessing experience in the use of technology to improve market efficiency, Nick has been a Board Member of Turquoise and was Chairman of The London Wholesale Markets Committee.

His former roles at UBS include; Head of Pan European Cash Trading and Head of Continental European Trading, Cash and Derivatives. Nick started his career as an Option Trader at O’Conner and Associates and he possesses at BSc (Hons) in Engineering from Durham University.

A diversified financial services group with a pan-India and global presence, Religare Enterprises Limited (REL) offers a comprehensive suite of customer-focused financial products and services targeted at retail investors, high net worth individuals and corporate and institutional clients.

REL, along with its joint venture partners, offers a range of products and services in India, including asset management, life insurance, wealth management, equity and commodity broking, investment banking, lending services, private equity and venture capital. Religare has also ventured into the alternative investments sphere through its holistic arts initiative and film fund.

The company has many firsts to its credit. With a view to expand, diversify and introduce offerings benchmarked against global best practices, Religare operates in the life insurance space under ‘Aegon Religare Life Insurance Company Limited’ and has launched India’s first wealth management joint venture under the brand name ‘Religare Macquarie Private Wealth’.

It has launched India’s first 360 degrees Arts Initiative – with a gallery as well as the first SEBI approved Film Fund- institutionalizing the film space and augmenting the alternate asset class of investments products.

REL’s IPO listing on the national exchanges in 2007 was a huge success with the oversubscription figures shooting up to almost 163 times, which is a record till date.

REL operates from seven domestic regional offices, 43 sub-regional offices, and has a presence in 503 cities and towns controlling 1,873 business locations all over India.

Religare Hichens, Harrison plc. (RHH) is a part of Religare Enterprises Limited (REL) – a diversified financial services group. Religare acquired Hichens, Harrison & Co, believed to be one of the oldest broking firms of London, in 2008, before renaming the company.

REL is committed to create in RHH a global emerging markets investment and advisory business. RHH is continually adding to its suite of investment products and strengthening its team.

RHH is an authorized and regulated broker for companies traded on the AIM Market, a PLUS Markets member broker-dealer, a PLUS Markets member corporate adviser and a member of the Dubai International Financial Exchange.

Currently, the principal areas of activity for RHH are - corporate broking, corporate finance, institutional broking and sales, contracts for difference and private client stock broking.

“Religare Enterprises Limited proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make a rights issue of its equity shares to its existing shareholders and has filed a draft letter of offer (“DLOF”) with the Securities and Exchange Board of India (“SEBI”). The DLOF is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the lead manager at www.enam.com. Investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the section titled “Risk Factors” of the DLOF.”

Subhrangshu Neogi
Director- Brand & Corporate Communications
Religare Enterprises Limited

Religare Hichens Harrison plc.

100 Canon Street, London, EC4N 6EU

Telephone: +44 (0) 20 7444 0500 Fax: +44 (0) 20 7444 0815