HDFC Bank Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Bank will be held on March 27, 2008, inter alia, to transact the following:

1. To accord the consent, permission and approval of the members of the Bank to the Scheme of Amalgamation of Centurion Bank of Punjab Ltd (”CBoP” or “the Transferor Bank”) with HDFC Bank in terms of the share swap ratio, as determined in the joint independent valuation report dated February 25, 2008 of M/s. Dalal & Shah, Chartered Accountants and Ernst and Young Pvt Ltd, namely; allotment of One (1) share of Rs 10/- each of HDFC Bank for every Twenty-Nine (29) equity share of Re 1/- each of CBoP and that the consent of the shareholders is hereby granted to the Board to issue equity shares of the Bank accordingly, subject to necessary provisions & approvals.

2. To increase the Authorised Share Capital of the Bank from Rs 450,00,00,000/- (Rupees Four Hundred Fifty Crores only) divided into 45,00,00,000 (Forty Five Crores) equity share of Rs 10/- each to Rs 550,00,00,000/- (Rupees Five Hundred and Fifty Crores only) divided into 55,00,00,000 (Fifty Five Crores) equity shares of Rs 10/- each, ranking pari-passu with the existing equity shares issued by the Bank & consequential amendments in Memorandum & Articles of Association of the Bank.

3. To create, issue, offer and allot at its sole discretion, to Housing Development Finance Corporation Ltd and / or HDFC Investments Ltd and / or HDFC Holdings Ltd and / or Home Loan Services India Pvt Ltd (’Promoter Group’ or ‘proposed Allottees’ as the context requires) upto an aggregate of 2,62,00,220 equity shares of a face value of Rs 10/- each of the Bank (”the shares”) and / or convertible instruments such as warrants convertible into equity shares, in such proportion as may be determined by the Board, at a price of Rs 1530.13 per equity share for cash on a Preferential basis, which minimise price has been calculated in accordance with the guidelines for Preferential Allotment issued by the SEBI under Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000, with the relevant date being February 26, 2008, being the date thirty days prior to the date of this Extraordinary General Meeting i.e. March 27, 2008, subject to necessary provisions & approvals.