Issue of Equity

SUB: ALLOTMENT OF EQUITY SHARES UNDER ESOP - AXIS BANK

We are pleased to inform that the Committee of Directors of the Bank has allotted 3,76,298equity shares of Rs. 10/- each on 20th September, 2010 to the employees of the Bank, under ESOP.

The paid up share capital of the Bank will accordingly get increased from 40,74,42,475 equity shares as on 30th June, 2010 to 40,88,41,213 equity shares.

Further, please note that the Bank had allotted total 5,11,433 equity shares during the month of July, 2010 and 5,11,007 equity shares during the month of August, 2010.