Religare Enterprises appoints Director & Chief Technology Officer (CTO) to drive technology strategy

  -- G.N. Nagaraj to drive Religare’s long term technology strategy

New Delhi, December 01, 2009: Religare Enterprises Limited (“REL”), a diversified financial services group, today announced the appointment of Mr. G.N.Nagaraj as Director & Chief Technology Officer (CTO) of REL.

Mr. Nagaraj joins Religare with an experience of over 18 years, largely in the financial services sector. As Director & CTO of Religare, Mr. Nagaraj will be responsible for driving Religare’s long term technology strategy to drive operational excellence, economies of scale in technology operations using technological innovations at the group level. He will oversee all IT related projects and will work closely with Religare Technova and other service providers. Prior to joining REL, Mr. G N Nagaraj held the position of Senior VP and CIO at Reliance Money Limited.

Says Mr. Sachindra Nath, Group COO, REL, “Our aim is to leverage technology to aid growth keeping in mind our long term strategy. Mr Nagaraj’s appointment is a step in that direction.”

On his appointment Mr. Nagraj says, “It is a privilege to come on board at Religare. I look forward to working closely with different teams to help achieve the goal of becoming a global leader in the leading financial services sector.”

Prior to his stint at Reliance Money, Mr. Nagraj has also been associated with organizations like Reliance Capital, Novell India Pvt. Ltd., ICICI Bank, HDFC Ltd. As a technology leader, Mr. Nagaraj has been part of the strategic decision making groups on Operations, Product Launches and Customer Service. Throughout his career he has played the role of a change agent bringing about newer revenue opportunities using technology. Mr. Nagraj also holds a Master of Computer Application [MCA] from V.J.T.I., Mumbai India.

About Religare Enterprises Limited

A diversified financial services group with a pan-India presence and presence in multiple international locations, 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.

With a view to expand and diversify, REL 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’.

REL, through its subsidiaries, has launched India’s first holistic arts initiative – with a gallery -- as well as the first SEBI approved film fund, which is an initiative towards innovation and spotting new opportunities for creation and maximization of wealth for investors.

REL operates from 7 domestic regional offices, 41 sub-regional offices, and has a presence in 537 cities and towns controlling 1,961 business locations all over India, as on September 30, 2009.

To make a mark in the global arena, REL acquired UK-based Hichens, Harrison & Co. in 2008 which was subsequently re-named as Religare Hichens Harrison PLC (“RHH”). Hichens, Harrison & Co. was incorporated in London in the year 1803 and is believed to be one of the oldest firms of stockbrokers in the City of London.

Pursuant to expansion of REL’s business, the company has grown from largely an equity trading company into a diversified financial services company. With the addition of RHH the REL group now operates out of multiple global locations, other than India, (the UK, the USA, Brazil, South Africa, Dubai and Singapore).

For more information, please visit - www.religare.in

“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.”

For further information, please contact:

Mr. Subhrangshu Neogi
Director- Brand & Corporate Communications

Religare Enterprises Limited
Email: subhrangshu.neogi@religare.in

Contact number: T: +91 120 6796165 M: +91 9910993925

Mr. Varun Soni

Vice President, Corporate Communications

Religare Enterprises Ltd.

Email: soni.varun@religare.in

Contact Number: T :0120 – 3396174 M: +91 9650148885