ING Vysya MUTUAL FUND LAUNCHES C.U.B (Competitive Upcoming Businesses) FUND

Company News

MUMBAI, July 24

ING Vysya Mutual Fund today announced the launch of its new close ended fund - ING Vysya C.U.B (Competitive Upcoming Businesses)Fund, focusing on investment in the Competitive Upcoming Businesses.

The close-ended fund will be automatically converted into an open-end scheme after three years.

The scheme opens on July 25 and closes on August 21, 2006.

Mr. Chris Ryan, CEO, ING Investment Management Asia Pacific (Honk Kong) Ltd who specially flew in to India to grace the occasion said, “India is a great destination for the financial community of the world. At , ING we are looking at a stronger presence of our mutual fund activities in India and will bring in expertise, products and technology to grow our market”

Introducing the scheme, Ms Kavita Hurry, MD & CEO of ING Vysya Mutual Fund, said “We have a process driven, performance oriented approach based on our good domain knowledge of various sectors”.

“With the cumulative work experience of Fund Managers of over 40 years, We have been managing successfully a varied themes of funds namely large cap, mid cap, dividend yield and contra funds”, She added.

There is no exit load/CDSC and Units can be redeemed once in every quarter at the Applicable NAV given in the repurchase schedule (refer offer document) of the scheme. After the scheme is converted into open ended, SIP, SWP & STP will be applicable and the entry load will be 2.25% for all SIP/STP applications.

The minimum initial investment is Rs 5,000 and in multiples of Re 1/- thereafter. The Additional Investment will be a minimum Rs. 1,000 and in multiples of Re. 1 thereafter.

Mr. Paras Adenwala, CIO of the fund, said “We have a policy of bottom up stock picking that become more rewarding to the investors. The optimum portfolio diversification can take place by having 40-50 stocks.”

Considering the systematic risk along the market volatility, he said, “our emphasis is on absolute returns rather than benchmark returns by following the stock specific and sector specific ceiling”.

For further details contact:

Ms Perpetual Pinheiro

ING Vysya Mutual Fund

98209 90503

Mr. Hiren Shah

Adfactors PR

98203 84223