India still a hub for DR activity with Axis Bank's third GDR offering in less than five years

NEW YORK, October 5, 2009 — BNY Mellon (NYSE: BK), the global leader in asset management and securities servicing, has been selected by Axis Bank Limited (Axis Bank) for its third global depositary receipt (GDR) offering. Each Axis Bank GDR represents one equity share. The company has submitted an application to the Professional Securities Market of the London Stock Exchange to admit the Regulation S and Rule 144A GDRs for trading under the symbols "AXB" and "AXBA," respectively. Axis Bank's equity shares are listed on the Bombay Stock Exchange and the National Stock Exchange.

The Axis Bank GDRs and equity shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.

Axis Bank is a consumer and corporate bank with operations across India. The company maintains a network of more than 860 branch offices and Extension Counters throughout the country, as well as a network of more than 3,700 ATMs offering customers 24-hour-a-day banking convenience. BNY Mellon has acted as depositary bank for Axis Bank since March 2005, when its GDR program was first established.

"Our extensive experience working with many Indian depositary receipt issuers enables us to support Axis Bank in its continued global expansion," said Michael Cole-Fontayn, chief executive officer of BNY Mellon Depositary Receipts. "This third GDR offering by Axis Bank in less than five years reinforces our belief that India remains a hub for depositary receipt activity globally."

BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services $11.8 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at bnymellon.com.

This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.