ACTION TAKEN AT THE BOARD MEETING

SUB : DECISIONS TAKEN AT BOARD MEETING OF AXIS BANK

The Board of Directors of Axis Bank at its meeting held today has taken the following decisions :

1. PAYMENT OF DIVIDEND FOR THE YEAR 2009-10

The Board of Directors of the Bank has recommended the payment of dividend @ Rs. 12.00 per equity share i.e. 120% on equity shares of the Bank and the same will be payable after it is approved by the shareholders at the 16th Annual General Meeting scheduled to be held on 8th June, 2010. The Bank had declared dividend of Rs. 10.00 per equity share i.e. 100% for the previous year 2008-09.

Further, it is also proposed to pay/ despatch the dividend warrants for the year 2009-10 to the shareholders of the Bank on or after 9th June, 2010. Accordingly the date of the dividend warrants will be 9th June, 2010.

2. BOOK CLOSURE - 24TH MAY, 2010 TO 8TH JUNE, 2010 (bdi)

The Register of Members and the Share Transfer Books of the Bank will remain closed from Monday, the 24th May, 2010 to Tuesday, the 8th June, 2010 (both days inclusive) for the purpose of the Sixteenth Annual General Meeting of the Bank and for determining the entitlement of dividend declared for the year ended 31st March, 2010.

The Sixteenth Annual General Meeting of the shareholders is scheduled to be held on 8th June, 2010 at Ahmedabad. All shareholders whose names will appear on the Register of Members of the Bank as on 24th May, 2010, will be entitled to receive the dividend.

You are requested to take the above on record.