Kotak Life Launches "Kotak Smart Advantage"

Comapny Brief

New Delhi, January 22, 2008

Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance), one of the fastest growing insurance companies in India, today announced the launch of 'Kotak Smart Advantage', a plan that offers upto 100% premium allocation from second year onwards and guaranteed returns on the first year premium. This new ULIP also gives guaranteed bonus additions at regular intervals helping you accumulate wealth systematically, over the long term.

Speaking at the launch, Mr. Gaurang Shah, Managing Director, Kotak Life Insurance, said, "We are delighted to bring this new offering - Kotak Smart

Advantage to our customers. Kotak Smart Advantage is a powerful reinforcement of our philosophy of delivering innovative and pragmatic financial solutions to our customers. This new product brings to you the benefits of long-term systematic investment coupled with market linked return"

Kotak Smart Advantage is a "smart financial plan" based on the fundamental idea of regular savings and the power of compounding, a great way to multiply the investor's money. This coupled with the life cover benefit makes it a comprehensive plan for any individual's financial needs.

The investor can also avail of tax benefits under section 80 C and 10(10D) of Income Tax Act, 1961.

Apart from launching innovative products like Kotak Smart Advantage, Kotak Life Insurance is also aggressively increasing its presence across India. The distribution network currently stands at 110 branches across the country and the team of Life Advisors has been stepped up to 29,000 to provide innovative solutions to the varied needs of Indian consumers.

For further information please contact:

Vaishnavi Corporate Communications

Ravi Sharma/ Sanyukta Dutta

Tel: +91 11 42393500

Mob: +9818440439/9810058765