Basis Of Allotment

Constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970.
Head Office: Dena Corporate Centre, C-10, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai-4000551
Tel: (022) 265554 55607, Fax: (022) 2654 55605, Website: www.denabank.com Email: Irc@denabank.co.in

PUBLIC ISSUE OF 8,00,00,000 EQUITY SHARES OF Rs.10/- EACH FOR CASH AT A PREMIUM OF Rs.17/-(i.e. AT A PRICE OF Rs.27/- PER SHARE) AGGREGATING Rs.216 CRORES ("PUBLIC ISSUE")

The Board of Directors of Dena Bank thanks the investing public, for their response to the Public Issue which opened for subscription on January 24,2005 and closed on January 29,2005. The public Issue has received 517,500 valid applications for 971,296,1554 equity shares resulting in 12.14 times subscription. The Basis of Allotment was finalised in consultation with National Stock Exchange of India Limited (The Designated Stock Exchange) on February 18,2005 and 8,00,00,000 equity shares have been allotted by the Chairman and Managing Director of February 19,2005 as per details given below:

Individual Investors who have applied for not more than Rs.50, 000/- worth of shares i.e. up to 1800 shares: (Retail Investors)

The Bank has received 504,533 valid applications for 441,054,337 shares in this category resulting in 13.78 times subscription. Allotments have been made to the applicants on the basis of draw of lots. The number of shares allotted in this category is 32,000,600. The details of category-wise allotment are given below:

2. Individual Investors who have applied for more than Rs.50, 000/- worth of shares (i.e. more than 1800 shares), Corporate Bodies & Institutions.

The Bank has received 8,469 valid applications for 456,209,780 shares in this category resulting in 14.25 times subscription. Allotments have been made to the applicants who have applied for up to 2800 shares on the basis of draw of lots. Applications for 3000 or more shares have been allotted shares in proportion to the number of times this category has been oversubscribed. Total number of shares allotted under the Non-Retail category is 31,999,400. The details of category-wise allotment are given below:

Category	No. of Applications	% to Total	Total No. of Shares Applied	% to Total	No. of Shares Allotted	Ratio	Total No. of Shares Allotted
200	9	0.11	1800	0.00	200	1:09	200
400	13	0.15	5600	0.00	200	2:13	400
600	9	0.11	55400	0.00	200	2:09	400
800	3	0.04	2400	0.00	200	1:03	200
1000	23	0.27	23000	0.01	200	8:23	1600
1200	4	0.05	4800	0.00	200	1:02	400
1400	2	0.02	2800	0.00	200	1:02	200
1600	1	0.01	1600	0.00	200	1:01	200
1800	62	0.73	111700	0.02	200	12:19	7800
2000	2630	31.05	5261800	1.15	200	33:47	369400
2200	240	2.83	528000	0.12	200	17:22	37000
2400	245	2.89	590300	0.13	200	5:06	40800
2600	96	1.13	250100	0.05	200	12:13	17800
2800	55	0.65	154000	0.03	200	1:1	11000
3000-18500000	5077	59.95	449266480	98.5	Proportionate	FIRM	31512000

The Bank has received 3,297 valid applications for 2,973,200 sharers resulting in 0.37 times subscription. For all valid applications received in this category shares have been allotted on a full and firm basis.

The Bank has received 1201 valid applications for 71058837 shares in this category. The number of shares available for allotment in this category was 13026800 (after adding the unsubscribed portion of the Employees category) resulting in 55.45 times subscription. Allotments have been made to the applicants who have applied for up to 1000 shares on the basis of draw of lots. Applications for 1200 or more shares have been allotted shares in proportion to the number of times his category has been oversubscribed. Total number of shares allotted in this category is 13.026,8000. The details of category-wise allotment are given below:

There are 21.48 allottees for every Rs.1 lakh of capital In the Public Issue (Including Employees and NRIs/Flls)

Shares certificates, allotment advice cum Refund orders, wherever applicable, have been despatched by February 22,2005 and in case of shares in the electronic form, the beneficiary account of allottees with NSDL and CSDL have been credited on February 22,2005. Listing Applications have been filed with National Stock Exchange of India Limited, The Stock Exchange, Mumbai, The Stock Exchange, Ahmedabad and Delhi Stock Exchange Association Limited on February 21,2005.

Investors may please note that the details of the allotment has been hosted on the website of Registrar to the Issue, Sharepro Services (India) Private Limited at www.shareproservices.com and also at Dena Bank’s website:www.denabank.com

All future correspondence in this respect should be addressed to Registrars to the Issue at their below mentioned address by mentioning full name of first/sole applicant, Application No, No. of share applied and bank branch where the Application had been lodged:

Sharepro Services (India) Private Ltd. Unit: Dena Bank
Satam Estate, 3^rd Floor, Above Bank of Baroda, Cardinal Gracious Road, Chakala, Andheri (E), Mumbai –10009.
Phone: (022) 2821 5168, Fax: 022-2839 2259 E-mail: sharepro@vsnl.com

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 OR THE PROSPECTS OF THE BANK