MEDIA RELEASE

            BSE enters into an agreement with Bank of Baroda for Clearing and Settlement

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Bombay Stock Exchange (BSE), Asia's oldest bourse, today entered an   agreement with Bank of Baroda (BOB) vide, which BOB becomes a Clearing and Settlement Bank. With the signing of this new agreement, BSE will now have a tripartite arrangement with BOI Shareholding Ltd (BOISL) & BOB for clearing and settlement.

Speaking on the occasion, Mr. Rajnikant Patel, Managing Director   & CEO, BSE said, "Bank of Baroda, like BSE is one of the oldest financial institutions of the country. In recent times, the Bank has been aggressively working towards providing the best of technology and more and more innovative products and services to its customers. The Bank also enjoys a wide network of 2800 branches and a vast database of 33 millions customers. With this new arrangement, we hope to leverage the Bank's and attract more and more customers of the Bank to trade through BSE."

Speaking on the occasion Mr. M D Mallya, Chairman and Managing Director of Bank of Baroda said, "Over the years, Bank of Baroda has seized new business opportunities, which are drivers of future growth to enhance shareholder value. The Bank has emerged as a financial supermarket providing a vast array of financial products to different customer segments under one roof. Bank looks at this tie up as a customer-centric strategy. In its drive towards providing greater customer convenience, the Bank will continue to enlarge its basket of products - both its own as also third party, leveraging its vast branch infrastructure. The tie-up with Bombay Stock Exchange Ltd. is the latest addition to its vast basket of products."

About Bombay Stock Exchange Limited (www.bseindia.com)

Established in 1875 BSE is the oldest stock exchange in Asia. Earlier an Association of Persons (AOP), the Exchange is now a corporatised and demutualised entity with reputed international exchanges like Deutsche Bourse and Singapore Exchange on its Board which picked up 5% stake each in BSE. BSE reaches to around 450 cities and towns of India and has more than 4,800 listed companies on the board, with over 7,500 scrips being traded. The companies listed on BSE command a total market capitalization of 1.4 trillion USD. The Exchange offers trading in the equity (cash and derivatives) and debt (corporate and government securities) segments. The exchange recently launched trading in SENSEX Futures on the US Futures Exchange.

About Bank of Baroda

Bank of Baroda is one of the leading nationalised banks in the county having vast and varied experience of 100 years in diverse banking operations including capital market operations. Bank of Baroda is spearheading a number of initiatives to transform itself in to a technology-enabled customer-centric organization. Bank has embarked on an aggressive expansion spree to enter new continents and new countries around the globe. Bank now has 71 overseas offices in March 08, having added a record 11 branches / offices abroad during the Centenary year. Net Profit of the Bank in 2007-08 was Rs 1435.52 crore up 39.85% over the Net Profit in 2006-07. Total advances up by 27.6% for the year 2007-08 with Net NPA down to 0.47% at end of March 08.

For more information contact:

Kalyan S Bose                                               

Bombay Stock Exchange Ltd.

Mumbai, June 19, 2008

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