UNIWESTBNK

United Western Bank Ltd has informed the Exchange that the Amalgamation of the United Western Bank Ltd with Industrial Development Bank of India Ltd is effective from October 03, 2006. As per the Scheme the �Transferee Bank� i.e IDBI Ltd. would be making upfront payment in cash of the Rs.28/- per share in respect of fully paid share of the United Western Bank Ltd. to the members of the United Western Bank Ltd. who were shareholders as on the �Prescribed Date� i.e. October 03, 2006. United Western Bank Ltd. has further informed the Exchange to suspend the trading in the shares of The United Wes

United Western Bank Ltd has informed the Exchange that the Govt. of India has on September 30, 2006 sanctioned the Scheme for the Amalgamation of The United Western Bank Ltd. with Industrial Development Bank of India Ltd. The Amalgamation scheme will come into force on October 03, 2006.

Members of the Exchange are hereby informed that the trading in equity shares of United Western Bank Ltd. shall be suspended w.e.f. October 03, 2006 on account of Scheme of Amalgamation of United Western Bank Ltd. with Industrial Development Bank of India Ltd.

United Western Bank Ltd has informed the Exchange that a meeting of the Board of Directors was held on September 26, 2006 wherein the Draft Scheme of Amalgamation was considered and that the suggestions / objections as approved by the Board are being forwarded to RBI.

United Western Bank Ltd has informed the Exchange that a meeting of Board of Directors was held on September 22, 2006 wherein various aspects of the Draft Scheme of Amalgamation were considered and it was decided to meet again on September 26, 2006 to consider Suggestions/ Objections on the said Draft Scheme of Amalgamation received from RBI. In View of this a meeting of Board of Directors of the Bank will be held on September 26, 2006, for consideration of the said Draft Scheme of Amalgamation.

United Western Bank Ltd has informed the Exchange that the meeting of the Board of Directors of the Bank was held on September 14, 2006, and the Company has informed hereunder the outcome of the Board Meeting - "The Draft Amalgamation Scheme was considered by the Board. However, the Board felt that before communicating suggestions / objections to RBI certain Issues relating to taxation, accounting procedure, etc need clarification. Accordignly, a Committee of Directors was constituted to list such issues. The Board will meet shortly some time in next week for finalizing suggestions / objection

United Western Bank Ltd has informed the Exchange that subsequent to the order of Moratorium dated September 02, 2006, the Reserve Bank of India (RBI) has on September 12, 2006 placed in public domain a Draft Scheme of Amalgamation of the United Western Bank Ltd. with Industrial Development Bank of India Ltd. Further, the Bank has informed, as per the Draft Scheme both Banks have been given time upto September 27, 2006 to consider the draft scheme. The Scheme inter-alia provides that "The Transferee Bank shall make an upfront payment in cash of Rs.28/- in respect of every fully paid up share o

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

United Western Bank Ltd has 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.

United Western Bank Ltd has informed the Exchange that in the meeting of the Board of Directors held on September 06, 2006 it was unanimously resolved by the Board to submit the Scheme of Reconstruction of The United Western Bank Ltd. u/s 45 (4) (d) of the Banking Regulation Act, 1949, to Reserve Bank of India which, inter-alia, includes infusion of Capital by SICOM Ltd., Govt. of Maharashtra and HDFC Ltd / IDFC to the extent of Rs. 350 crores. The aforesaid scheme of Reconstruction has been submitted ot RBI for its consideration on September 07, 2006.

United Western Bank Ltd has informed the Exchange that a meeting of Board of Directors of the Bank was held on September 04, 2006 wherein the Board considered the Order of Moratorium u/s 45 of Banking Regulation Act, 1949. The Board deliberated on various issues including the revival of the Bank and it was unanimously decided to prepare and forward the Scheme of Reconstruction of the Bank to RBI with a commitment to bring in funds immediately to meet all liabilities and achieve adequate CRAR and the Net Worth requirements. In view of the above the Bank has filed Expression of Interest to RBI f

United Western Bank Ltd has informed the Exchange regarding the changes in the composition of the Board of Directors of the Bank which is as follows :- 1) Shri. K.H. Navandhar ceased to be Director w.e.f. September 04, 2006 since resigned. 2) Shri. S.K. Gogia has been appointed as an Additional Director (RBI Nominee) on the Bank's Board w.e.f. September 02, 2006 in pursuance of RBI letter/ Order dated September 02, 2006. 3) Shri. M. Radhakrishnan has been appointed as an Additional Director (RBI Nominee) on the Bank's Board w.e.f. September 02, 2006 in pursuance of RBI letter/ Order dated Sept

United Western Bank Ltd has informed the Exchange that the Central Government U/s 45 of Banking Regulation Act, 1949 has issued Order of Moratorium in respect of The United Western Bank Ltd. for the period 14.00 hours on September 02,2006 upto and inclusive of December 01,2006. As a consequence of this order certain restrictions as mentioned in the said order have been imposed on the Banking Operations of the Bank and depositors of the Bank will be entitled to withdraw a sum not exceeding Rs. 10,000/- of the total balance lying to the credit of all deposit accounts of a customer.

United Western Bank Ltd. had informed the Exchange that the Annual General Meeting of the Bank was scheduled on September 27, 2006. The Bank has now informed that the said Annual General Meeting has been postponed. The Bank has further informed that the Bank has received extension from Registrar of Companies, Pune for holding the said Annual General Meeting upto October 31, 2006. The revised schedule of the Annual General Meeting of the Bank will be informed afterwards.

United Western Bank Ltd has informed the Exchange that the Bank has on August 21, 2006 filed the Draft Letter of Offer of the proposed Rights Issue (to be made in the ratio of 4:5) with Securities and Exchange Board of India (SEBI).

United Western Bank Ltd has informed the Exchange that the AGM of the Bank will be held on September 27, 2006.

United Western Bank Ltd has informed the Exchange that Shri Satish K. Marathe, Chairman & CEO of the Bank has resigned and his resignation was accepted by the Bank's Board in its meeting held on July 14, 2006. Shri Marathe will cease to be Chairman & CEO of the Bank from July 31, 2006.

United Western Bank Ltd had informed the Exchange that a Meeting of Board of Directors was held on May 15,2006 and it was decided as under: "Pending RBI approval to the proposal of Preferential Allotment & GDR Issue, Bank will come out with 1) Further issue of shares by way of Rights in the ratio of four equity shares for every five shares held as on record date which is to be fixed afterwards in consultation with Stock Exchange. ii) The Issue Price will be fixed and disclosed prior to fixing of the record date as permitted as per extant SEBI Guidelines." The Bank has now informed the Exchan

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 that a Meeting of Board of Directors was held on May 15,2006 and it has been decided as under: "Pending RBI approval to the proposal of Preferential Allotment & GDR Issue, Bank will come out with 1) Further issue of shares by way of Rights in the ratio of four equity shares for every five shares held as on record date which is to be fixed afterwards in consultation with Stock Exchange. ii) The Issue Price will be fixed and disclosed prior to fixing of the record date as permitted as per extant SEBI Guidelines."

United Western Bank Ltd has informed the Exchange that the Rights Issue of 1,79,32,633 Equity Shares of Rs.10/- each at a premium of Rs.14/- per share (i.e. at a price of Rs.24/- per share) in the ratio of one (1) Equity Share for every two (2) Equity Shares of Rs.10/- each held on the Record Date (January 23, 2006) aggregating Rs.43.04 Crore. The face value of the Equity Share is Rs.10 and the issue price is 2.4 times the face value of the Bank was scheduled for closure on March 11, 2006. In this connection, the Bank has informed that the said Rights Issue of the Bank has been Oversubscribed

United Western Bank Ltd has informed the Exchange that Bank has submitted a proposal to the Reserve Bank of India seeking its approval to make the Preferential Allotment of Equity Shares and Global Depository Receipts (GDR).

United Western Bank Ltd has informed the Exchange that the BODs of the Bank in its meeting held on January 30, 2006 have decided to increase paid-up Share Capital of the Bank in the following manner. (A) Preferential Allotment. (B) Issue of Global Depository Receipts(GDR). In order to obtain approval of the shareholders to the above proposition it has been decided to convene EOGM.

United Western Bank Ltd has informed the Exchange regarding the following changes in the composition of the Board of Directors of the Bank : (1) Shri J. S. Sahani has been co-opted as an Additional Director on Bank's Board w.e.f. January 12, 2006.

United Western Bank Ltd has informed the Exchange that the Company has announced the Book Closure from January 24, 2006 to January 25, 2006 for the purpose of ascertaining entitlement for Issue of Bonus and Rights Shares.

United Western Bank Ltd has informed the Exchange that Shri Rajeev Onkarnath Jalota ceased to be Director of the Bank w.e.f. January 07, 2006 since resigned.

United Western Bank Ltd has informed the Exchange that the AGM of the Bank was held on December 24, 2005. At the said meeting resolutions pertaining to following subjects were passed: (1) Election of Directors: Following individuals were re-elected / elected to respectively as Directors of the Bank: (a) Shri Mahesh Athavale - Re-elected; (b) Shri A.B. Telang - Re-elected; (c) Shri.P.B. Nimbalkar - Elected; (d) Shri Umesh Kulkarni - Elected; (e) Shri.R.G. Tanksale - Elected. (2) Directors Remuneration: Payment of Sitting Fees (Per Meeting) to Directors was approved.

United Western Bank Ltd has informed the Exchange regarding the changes in the composition of the BODs of the Bank. (1) Shri V.K.Jairath ceased to be Director of the Bank since resigned. (2) Shri Rajiv Jalota has been co-opted as Director in the casual vacancy caused due to resignation of Shri V. K. Jairath.

United Western Bank Ltd has informed the Exchange that the AGM of the Bank will be held on December 24, 2005.

United Western Bank Ltd has informed the Exchange that the Bank has decided to change the Registrar & Transfer Agent (R&T) from Intime Spectrum Registry Ltd. to MCS Ltd..The Registered Office Address of MCS Ltd. is as under: MCS Ltd. Sri Padmavathi Bhavan, Plot No. 93, Road No.16, MIDC, Andheri (East), Mumbai - 400093. Phones: 28372385. Fax: 28201783. E-mail: mcsmum@vsnl.com.

United Western Bank Ltd has informed the Exchange that BODs at its meeting held on October 27, 2005 have co-opted Shri Rajaram Govind Tanksale as a Director of the Bank. Shri Tanksale is a Chartered Accountant by profession.

United Western Bank Ltd has informed the Exchange that the draft letter of offer of the proposed rights issue of the bank has been filed with SEBI on October 24,2005.

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

United Western Bank Ltd has informed the Exchange that Bank vide its letter dated July 11, 2005 had requested the Registrar of Companies, Pune seeking extension for holding the AGM of the Bank for a period of three months i.e. upto December 31, 2005. Accordingly, the Registrar of Companies, Pune has granted the extension of time for holding the AGM of the Bank for a period upto December 31, 2005.

United Western Bank Ltd has informed the Exchange that the High Court has modified its Status-quo order dt. May 15, 2001 and consequently as per the capital raising plan of the bank as approved in the Board meeting dt. April 7, 2005, the meeting of Board of Directors of the Bank held on August 26, 2005, wherein it was decided to issue Bonus and Right Shares as per the details mentioned hereunder :- A) Bonus Ratio :- 1:5 (1 {One} Equity share for every 5 {Five} Equity Shares held) As approved at the EOGM held on August 07, 2000. B) Rights Ratio :- 1:2 (1 {One} Equity Share for every 2 {Two} Equ

United Western Bank Ltd has informed the Exchange that with respect to Audited Financial Results of the Bank for the year ended March 31, 2005, the bank has issued a Press Release dated, June 28, 2005. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements).

United Western Bank Ltd has informed the Exchange that the Bank has received a letter from Shri S V Joshi, Director informing his resignation from the Office of Director of the Bank.

United Western Bank Ltd has informed the Exchange that a meeting of the Board of Directors held on April 07, 2005 wherein the subject matters relating to raising of Capital and utilisation of Revenue Reserves and / or Share Premium Account were considered and following decisions have been taken by the Board: 1) Capital Raising - The Board observed that there was a need for raising Rs. 380.00 Crores by way of Capital (Tier I & Tier II) and following Capital Raising Plan was approved: a) Financial Year 2005-06: The Bank plans to come out with Bonus-cum-Rights Issue followed by Preferential Allot

United Western Bank Ltd has informed the Exchange that the Bank has entered into an Agreement with Western Union for effecting fund remittance arrangements. The aforesaid Agreement was executed on March 14, 2005 at Mumbai between the Bank and Western Union.

United Western Bank Ltd has informed the Exchange of the following changes in the composition of the BOD's of the Bank : Shri Umesh M Kulkarni has been co-opted as a Director, in the casual vacancy caused due to resignation of Dr. Shri. V. M. Govilkar, w.e.f. December 29,2004.Shri Kulkarni is a Practising Chartered Accountant from Pune.

United Western Bank Ltd has informed the Exchange that the Rating Agency Credit Analysis and Research Ltd. "CARE" has revised the rating assigned to Tier II Bond Issues of Rs. 55 Crores and Rs. 79.70 Crores of the Bank. The rating has been downgraded from 'A-" (Single A minus) to 'BBB+'(Triple B Plus).However the bank will be making a representation to the Rating Agency for reviewing the rating assigned.

United Western Bank Ltd has informed the Exchange that the BODs in their meeting held on December 29,2004 took note of the draft guidelines issued by RBI on July 02, 2004 in respect of Policy framework for ownership and governance in private sector banks and while considering the Draft RBI guidelines about Policy Framework for minimum Capital / Networth requirements, the Board decided to raise Tier-I Capital after exploring various options for raising of Capital and obtaining legal opinion in respect of issues raised in the Memorandum.

United Western Bank Ltd has informed the Exchange of the following change in the composition of the BOD's of the Bank : Dr. V. M. Govilkar ceased to be Director of the Bank w.e.f. November 30, 2004 since resigned.

United Western Bank Ltd has informed the Exchange that the Bank has decided to shift the Registrar & Transfer Agent (R&T) of the Bank from M/s. IIT Corporate Services Ltd. to M/s Intime Spectrum Registry Ltd. The Registered Office Address of M/s Intime Spectrum Registry Ltd. is as under : M/s Intime Spectrum Registry Ltd., C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Bhandup (West), Mumbai 400078. Phones : 5555 5454 Fax : 5555 5353. E-mail : isrl@intimespectrum.com