PRESS RELEASE

Religare Enterprises Limited (REL) reorganizes its Board of Directors

Ø Mr. Malvinder Mohan Singh and Mr. Shivinder Mohan Singh step down from the Board of Religare Enterprises Limited.

Ø Mr. Sunil Godhwani is appointed as the new Chairman and Managing Director, Religare Enterprises Limited.

Ø Group COO Mr. Shachindra Nath and Group CFO Mr. Anil Saxena inducted on the board. Mr Shachindra Nath designated as CEO, Religare Enterprises Limited.

Ø Board also decides to induct three new members with global experience in financial services.

New Delhi, April 6, 2010 – Religare Enterprises Limited (REL), a global financial services group in its Board meeting held today announced Mr. Sunil Godhwani as its Chairman and Managing Director.

Mr. Malvinder Mohan Singh, Chairman of Religare Enterprises Limited and Mr. Shivinder Mohan Singh, Director announced their decision to step down from the Board.

On this decision, Mr. Malvinder Mohan Singh said "As we continue to build global businesses we will need to keep revisiting our structures and models to maximize and best deliver share holder value. This joint decision between me, Shivinder and Sunil is a step in that direction and has been well thought through to have better focus, realignment and in turn drive growth for the organization. The team at Religare is a dedicated one that is completely empowered to deliver on the joint vision we have of making Religare a global leader in financial services. We believe that our proposal to induct globally acclaimed leaders at the Religare Board would help the management team to achieve our objective most expeditiously."

Mr. Malvinder Mohan Singh who is stepping down from the board and as Chairman will focus on global healthcare opportunities and associate more closely with the recently acquired Parkway Holdings in his capacity as Chairman. Mr. Shivinder Mohan Singh (Managing Director, Fortis Healthcare), is also relinquishing his position from the REL Board to focus his energies in making Fortis a world class institution in the Indian operations of Fortis Healthcare. Despite their stepping off the board, both Mr. Malvinder Mohan Singh and Mr. Shivinder Mohan Singh will continue to work cohesively and provide support to Mr. Sunil Godhwani and the management team to help seize opportunities, overcome challenges and provide growth to all group businesses by cross leveraging capabilities across the group.

The Board also approved to designate Mr. Shachindra Nath as Chief Executive Officer of Religare Enterprises Limited. He along side Mr. Anil Saxena, Group CFO will continue to oversee and drive the group’s businesses and ambitions globally. Both of them have now been inducted on to the Board of REL.

The REL Board has also decided to induct three new non executive members with global expertise in the areas of Asset Management, Investment Banking and Commercial Banking to support its ongoing expansion globally both in the areas of asset management and investment banking and achieve its objective of being recognized as a globally trusted financial services brand.

Mr. Sunil Godhwani, Chairman and Managing Director, Religare Enterprises Limited commented, “I would like to thank both Malvinder and Shivinder for their unwavering faith in the management team and their commitment to Religare. This realignment is a new level of commitment for all of us as we jointly decide to revisit our roles and focus on our core areas of expertise and responsibilities. This step is a recognition of Religare’s management team and its global outlook. As a leading financial services player it would be the responsibility of Religare, to not only perform its fiduciary responsibilities with utmost care and transparency but also to be perceived in the same manner. We believe that the induction of globally acclaimed individuals on the Religare Board would be a step in that direction. I look forward to continue to lead the team to accomplish new goals and achieve new global benchmarks for the organization .”

About Religare Enterprises Limited - http://www.religare.in

Religare is a global financial services group with a presence across Asia, Africa, Middle East, Europe and the Americas. In India, Religare’s largest market, the group offers a wide array of products and services ranging from insurance, asset management, broking and lending solutions to investment banking and wealth management. The group has also pioneered the concept of investments in alternative asset classes such as arts and films. With 10,000 plus employees across multiple geographies, Religare serves over a million clients, including corporates and institutions, high net worth families and individuals, and retail investors.

Media Contacts: Religare

Subhrangshu Neogi Director- Brand & Corporate Communications Religare Enterprises Limited Email: subhrangshu.neogi@religare.in Contact number: T: +91 11 39126165 M: +91 9910993925

Media Relations Religare Enterprises Limited Email: mediarelations@religare.in Contact number: T: +9111-3912- 6160/6141 M: +91-9560392631/ +91-9650690886 F: +9111-3912-6050