CHOLAMANDALAM MS ENTERS INTO A STRATEGIC PARTNERSHIP WITH TNSC BANK.

Ties up with two District Central Cooperative Banks across 4 districts of Tamil Nadu

Chennai, October 6th, 2009: Cholamandalam MS, General Insurance Co. Ltd.(Chola MS), a joint venture between Rs.15,907 crores (USD 3.14 billion)Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, todayannounced bancassurance tie-up with Tamil Nadu State Cooperative Bank for 2of its District Co-operative Banks working in rural areas of Tamil Nadu.Through this alliance, Cholamandalam MS will tap the Deposit and Loan base ofDharmapuri District Central Co-operative Bank and Salem District Central CooperativeBank covering four districts of Dharmapuri, Krishnagiri, Salem andNamakkal for a period of 3 years. Chola MS will sell Motor, Health and PersonalAccident insurance policies through 100 branches and 634 Primary AgriculturalSocieties, covering over 13.50 lakh of primary members of these banks.

Mr S. S. Gopalarathnam, MD, Cholamandalam MS said “We are proud of ourbancassurance partnership with TNSC Bank who has an extensive distributionreach in the rural market. This will help us strengthen our presence in this largelyuntapped market.”This will enable the Bank to increase the wallet share of its existing customers aswell as acquire new customers. Many new customized insurance products likeFarmers’ Package Policy, Livestock Insurance e.t.c will be launchedsubsequently.TNSC Bank plans to enable all of its 100 branches in these four districts to sellCholamandalam MS policies. This will be implemented through a special team ofTNSC Bank professionals that will be trained by Cholamandalam MS in the bestpractices of general insurance selling. TNSC Bank has constituted a specialmarketing team to spearhead the bancassurance initiative in close coordinationwith Chola MS.