SBI Mutual Fund appoints Navneet Munot as Chief Investment Officer

Company Brief

Chennai, December 17, 2008

SBI Funds Management Pvt. Ltd. (A joint venture between State Bank of India and Société Générale Asset Management) has appointed Mr. Navneet Munot as Chief Investment Officer (CIO) with effect from 12th December 2008.

Mr. Munot brings with him over 14 years of rich experience in financial markets. Prior to joining SBI Mutual Fund, he was the Executive Director with Morgan Stanley Investment Management, where he was also the Head - Multi-Strategy Funds. He has worked as CIO –Fixed income and Hybrid funds with Birla Sun Life AMC.

Mr. Munot is a post graduate in accountancy and business statistics and a qualified Chartered Accountant. He is a charter holder of the CFA Institute USA and CAIA Institute USA.

Announcing this key appointment, Achal Kumar Gupta, Managing Director and Chief Executive Officer, SBI Funds Management Pvt. Ltd. said, “Navneet is one of the leading professionals in the asset management industry in India. He has an excellent track record in his previous stints and we are confident that he will use his rich experience to provide the right balance of dynamism and professional fund management to SBI Mutual Fund.”

For further information, please contact:

Sampark Public Relations

Krishna Moorthy

E-mail: krishna@sampark.com

Mobile: 9442191717