UNIWESTBNK

United Western Bank Ltd had informed the Exchange that the Bank has decided not to proceed with the Draft Letter of Offer presently filed with SEBI in respect of its proposed Rights Issue. The necessary intimation in this regard is already given to SBI Capital Markets Limited (Lead Manager) for onward submission to SEBI / Stock Exchange. The Bank will update / re-file the Letter of Offer once the position becomes clear. The Bank has now informed the Exchange that in this connection, it has come to the bank's notice that their earlier communication letter dated September 8, 2006 was misinterpre

News Verification : The media had reports that United Western Bank Ltd is likely to consider a merger with a Mumbai-based public sector bank. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. United Western Bank Ltd has vide its letter inter-alia stated, "We wish to clarify that presently no such merger proposal is under consideration of the Bank."

United Western Bank Ltd has informed the Exchange regarding the news item in the Business Times segment of The Times of India Mumbai Edition dated October 03, 2005. The report inter alia states that United Western Bank would possibly be merged with the Corporation Bank. In this regard United Western Bank has informed the Exchange of the statement of Mr. Satish Marathe, Chairman and CEO of the Bank which is as follows: "We are not aware of any such moves or proposal and that the United Western Bank has already submitted its detailed Capital Raising Plan to the RBI with a view to enable the Unit