Yes Bank FPO Basis of Allotment

YES BANK LIMITED

(incorporated as Public Limited Company under the Companies Act, 1956 on November, 21, 2003 On May 24, 2004,
we obtained a license to carry on the business of a banking company in India from the Reserve Bank of India under Section 22(1) of the Banking Regulation Act, 1949) Registered & Corporate Office: Nehru Centre, 9th Floor, Discovery of India Building, Dr. Annie Beasent Road, Worli, Mumbai 400018. Tel: +91-22-5669 9000 Fax: +91 -22-2490 0314. Website: www.yesbank.co.in Email: investorsrelations@yesbankltd.com

BASIS OF ALLOCATION

PUBLIC ISSUE OF 70,000,000 EQUITY SHARES OF RS.10 EACH AT A PRICE OF RS. 45 PER EQUITY SHARE FOR CASH AT A PREMIUM OF RS.35 PER EQUITY SHARE AGGREGATING RS. 3,150 MILLION (REFERRED TO AS THE 'ISSUE'), THE ISSUE CONSTITUTES 25.93% OF THE FULLY DILUTED POST ISSUE PAID-UP EQUITY CAPITAL OF YES BANK LIMITED ('ISSUER' OR 'THE BANK').
THE FACE VALUE PER EQUITY SHARE IS RS.10/- EACH AND THE ISSUE PRICE IS 4.5 TIMES OF THE FACE VALUE.

The Issue made throuh the 100% Book Building Process wherin 50% of the Issue Size was to be allocated on a discretionary basis to Qualified Institutional Buyers ('QIBs'), Further, not less than 25% of the Issue was to made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 25% of the Issue was to made available for alloction on a proportionate basis to Retail individual Bidders, subject to valid bids being received at or above the Issue Price.
The Issue received 256,570 applications for 2039662088 equity shares resulting in 29:13 times subscription. The details of the application received in the Issue from Retail Individual Bidder, Non Institutional Bidder and Qualified Institutional Buyers categories are as under:

Final Demand
A sample of the final demand at different bid prices is as under:

The Basis of Allotment was finalized in consultation with The Stock Exchange, Mumbai ('BSE') on July, 4, 2005.

A. Allocation to Retail Individual Bidderrs
The Basis of allocation to the Retail Individual Bidders, who have bid at cut-off or at the Issue Price of Rs.45/- per Equity Share, was finalized in consultation with BSE. The category was over subscribed 9395 times. The total number of shares alloted in this category is 17500050 Equity Shares. The category -wise details of the Basis of Allocation are as under:

B. Allocation to Non Institutional Bidders
The Basis of Allocation to the Non Institutional  Bidders, who have at the Issue Price of Rs. 45/- per Equity Share, was finalized in consultation  with BSE. The category was subscribed 43.68 times. The total number of shares allotted in this category is 17499950 Equity Shares. The category-wise details of the Basis of Allocation are as under:

C) Allocation to QIBs

The Committee of Directors for IPO of the company at it's Meeting held at Hyderabad on 5th July, 2005 has approved the basis of allocation of shares and allotted the shares to various successful applicants.

The Refund Orders have been dispatched to the address of the investors as registered with the depositories. In case the same is not received within ten days, investors may contact at the address given below. The Refund Orders have been printed with the Bank Mandate details as registered, if any, with the depositories. The shares allocated to successful applicants have been credited to their beneficiary accounts subject validation of the account details with the depositories concerned. Yes Bank Limited is taking steps to get the equity shares admitted for trading on The Stock Exchange, Mumbai and the National Stock Exchange of Inida Limited within seven working days from the date fo approval of the basis of allocation.

INVESTORS PLEASE NOTE
The details of the alloction made would be hosted on the website of Registrars to the issue, Karvy Computershares Private Limited at www.karvy.com or http://kcpl.karvy.com

All future correspondence in this regard may kindly be addressed to the Registrars to the Issue quoting full name of the First/Sole applicant, Serial numberr of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

Karvy Computershares Private Limited
Unit: Yes Bank Limited, Karvy House, 46, Avenue 4, Street No.1, Banjara Hills, Hyderrabad -500034, Fax: 040-23311968, Email: yesbankipo@karvy.com or mailmanager@karvy.com

TOLL FREE - HELPLINE NUMBERS : 1-600-3454001

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF YES BANK LIMITED.