RELIANCE CAPITAL REPORTS CONSOLIDATED TOTAL INCOME OF RS. 2,129 CRORES (US$ 521 MILLION) FOR THE HALF YEAR - AN INCREASE OF 138%

RELIANCE CAPITAL REPORTS CONSOLIDATED NET PROFIT OF RS.525 CRORES (US$ 129 MILLION) FOR THE HALF YEAR - AN INCREASE OF 72%

RELIANCE CAPITAL REPORTS TOTAL INCOME OF RS.391 CRORES (US$ 97 MILLION) FOR THE QUARTER - AN INCREASE OF 76%

RELIANCE CAPITAL REPORTS NET PROFIT OF RS.201 CRORES (US$ 49 MILLION) FOR THE QUARTER - AN INCREASE OF 20%

TOTAL ASSETS OF RS.10,083 CRORES (US$ 2.5 BILLION)

NET WORTH OF Rs. 5,662 CRORE (US$ 1.4 BILLION) - RANKS AMONG THE TOP 3 INDIAN PRIVATE SECTOR FINANCIAL SERVICES GROUPS

Mumbai, October 25, 2007: Reliance Capital Limited (RCL) today announced its unaudited financial results for the half year ended September 30, 2007. The performance highlights are:

Consolidated - Half year:

Standalone - Half year:

Consolidated - Quarter:

Standalone - Quarter:

Net worth:

As on September 30, 2007, the net worth of the company stood at Rs 5,662 crore (US$ 1.4 billion).

The company ranks among the top 3 Indian private sector financial services groups in terms of net worth.
Credit Rating:

The Company has a debt equity ratio of 0.69 as on September 30, 2007, and enjoys the highest top-end ratings of 'A1+' and 'F1+' by ICRA and FITCH, respectively.

Credit Rating:

The Company is virtually debt free and has a debt equity ratio of 0.05 as on September 30, 2006, and enjoys the highest top-end ratings of ‘A1+’ and ‘F1+’ by ICRA and FITCH, respectively.

Operational Review:

As on September 30, 2007, the total assets of the company stood at Rs 10,083 crore (US$2.5 billion).

The investment portfolio as on September 30, 2007, amounted to Rs 2,992 crore (US$ 753 million), at cost.

The company has not raised any fixed deposits from the public.

Group Companies:

Reliance Mutual Fund (RMF)
Reliance Capital Asset Management (RCAM)

The assets under management, increased to Rs 70,441 crore (US$ 18 billion) as on September 30, 2007 from Rs 28,648 crore as on September 30, 2006, an increase of 146%. RMF is the largest mutual fund in the country. The number of investors increased to nearly 40 lakhs as on September 30, 2007, highest amongst the private sector mutual funds.

The net profit of RCAM was Rs.38 crore (US$ 9 million) for the period under review, an increase of 9%, after providing for a one-time expense borne by RCAM, towards the launch of a new fund offering.


Reliance Life Insurance

The New Business Premium Income was Rs 650 crore (US$ 159 million) for the half year as against Rs.246 crore in the corresponding previous period, an increase of 165%.

Reliance Life offers 20 products, of which 16 are targeted to individuals and 4 to group business. Reliance Life is committed to attaining leadership rankings in the industry within the next few years.


Reliance General Insurance

Gross Direct Premium for the half year ended September 30, 2007 was Rs 946 crore (US$ 232 million) as against Rs. 378 crore in the corresponding previous period, an increase of 151%.

Reliance General Insurance (RGI) offers home insurance, property insurance, auto insurance, travel insurance, marine insurance, commercial insurance and other speciality insurance products.

Reliance Money

Reliance Money formally commenced operations in April 2007. Reliance Money has 200,000 customers and distribution network of 4,000 outlets in over 700 cities.

Reliance Money is a comprehensive financial services and solutions provider, providing customers with access to equities, equity options and commodities futures, mutual funds, IPOs, life and general insurance products, offshore investments and credit cards.

Reliance Consumer Finance

Reliance Consumer Finance commenced operations in May 2007 and has disbursed loans of Rs.2,278 crores (US $ 573 million) till September 30, 2007.

Reliance Consumer Finance marks the entry of Reliance Capital into the expanding consumer finance segment with a wide range of products which include Personal loans, Vehicle loans (car, two-wheeler and commercial), Home loans, Loan against property and SME loans.

Background:

Reliance Capital Ltd is a part of the Reliance - Anil Dhirubhai Ambani Group and is now ranked among the 20 most valuable private companies in India.

The Reliance Anil Dhirubhai Ambani Group currently has a market capitalization of over Rs.2,50,000 crore (US$ 63 billion) , net worth in excess of Rs. 40,000 crore (US$ 10 billion), cash flows of Rs. 9,000 crore (US$ 2.2 billion), net profit of Rs. 5,000 crore (US$ 1.3 billion) and zero net debt.

Reliance Capital is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking groups, in terms of net worth.

Reliance Capital has interests in asset management and mutual funds, life and general insurance, private equity and proprietary investments, stock broking, depository services, distribution of financial products, consumer finance and other activities in financial services.

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