--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : May 09, 2001 95012 14.00 % 2005(INSTA 15.00 114.75 9.7403 Contract Date : May 10, 2001 87006 11.00 % 2002 10.00 102.05 8.8185 97011 11.15 %

The following changes will come into effect in the auctions of Treasury Bills with effect from the week beginning May 14, 2001:The auctions of 14 and 182 days Treasury Bills will be discontinued;The notified amount in the auctions of 91-day Treasury Bills will be enhanced from Rs.100 crore to Rs.250 crore;The notified amount in the auctions of 364 day Treasury Bills will continue to be Rs.750 crore; andThe auctions of 91-day Treasury Bills will now be conducted on eve

The Reserve Bank of India has announced the following calendar of Treasury Bills issuance. This calendar is valid till March 31, 2002 :Type of T-BillsPeriodicityNotified Amount (Rs. Crore)Day of AuctionDay of Payment91-dayWeekly250Every WednesdayFollowing Friday364-day Fortnightly750Wednesday preceding the Reporting FridayFollowing Friday The Reserve Bank of India retains the right to vary the amount and timing, if circumstances warrant, without assigning any reason.

The Reserve Bank of India has announced the auction of 91 day Government of India treasury bills for a notified amount of Rs.250 crore. The auction will be conducted using 'Uniform Price Auction' method. The allocation to non-competitive bidders will be outside the notified amount, at the discretion of the Bank. The sale will be subject to terms and conditions specified in the General Notification No.F.2(12)-W&M/97 dated 31 March 1998 issued by Government of India

The Reserve Bank of India has announced the auction of 364 day Government of India treasury bills for a notified amount of Rs.750 crore. State Governments are allowed to participate as non-competitive bidders and the allocation to non-competitive bidders will be outside the notified amount, at the discretion of the Bank. The sale will be subject to terms and conditions specified in the General Notification No.F.2(12)-W&M/97 dated 31 March 1998 issued by Government

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : May 09, 2001 97011 11.15 % 2002 25.00 102.80 8.8186 97011 11.15 % 2002 10.00 102.80 8.8186 97011 11.15 % 2002 5.00 102.80 8.8186 94003 12.5

Date of Auction :May 11, 2001I.Notified amount: Rs.100.00 crore II.Bids received (a) Competitive bids Number:21 Amount:Rs.303.50 crore (b) Non-competitive bids Number:0 Amount:Nil III.Cut-off price:Rs.99.71 IV.Competitive bids accepted Number:5 Amount:Rs.100.00 crore V.Partial Allotment Percentage:60.00 (1 bid) VI .Devolvement on RBI:Nil VII.Non-competitive bids accepted (a) Number:0 Amount:Nil (b)Partial Allotment Percentage:N.A. VIII.Weighted Average Price:99.72Ajit

Date of Auction :May 11, 2001I.Notified amount: Rs.100.00 crore II.Bids received (a) Competitive bids Number:18 Amount:Rs.210.50 crore (b) Non-competitive bids Number:0 Amount:Nil III.Cut-off price:Rs.98.11 IV.Competitive bids accepted Number:5 Amount:Rs.100.00 crore V.Partial Allotment Percentage:N.A. VI .Devolvement on RBI:NIL VII.Non-competitive bids accepted (a) Number:0 Amount:Nil (b)Partial Allotment Percentage:N.A.Ajit Prasad ManagerPress Release : 2000-01/1540

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : May 05, 2001 00017 11.50 % 2011 25.00 109.12 10.0747 98021 12.40 % 2013 25.00 112.20 10.5961 Contract Date : May 08, 2001 98013 11.55 % 200

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : May 03, 2001 85007 11.50 % 2015 1.00 106.85 10.5523 Contract Date : May 04, 2001 99008 11.68 % 2006 20.00 109.34 9.2740 00013 11.00 % 2006