MEDIA RELEASE RELIANCE CAPITAL ANNOUNCES MAJOR DECISIONS TO SUPPORT GOVERNMENT'S OBJECTIVE OF CURBING GOLD IMPORTS SALE OF GOLD IN PHYSICAL FORM AND AS AN INVESTMENT PRODUCT TO BE SUSPENDED ACROSS ALL BUSINESSES SUBSCRIPTIONS IN RELIANCE GOLD SAVINGS FUND TO BE SUSPENDED FINANCING AGAINST GOLD AS SECURITY TO BE SUSPENDED

Mumbai, June 21, 2013: Reliance Capital, a part of the Reliance Group, strongly supports the Government's publicly stated objective of minimizing gold imports that are seriously hurting the country's economic interests.
The Company has decided to suspend sale of gold in physical form (including inter alia supply of gold coins for sale through India Post), and also as an investment product, across all its businesses and subsidiaries.
In addition, Reliance Capital's Commercial Finance Division has decided to suspend financing against gold as a security.
Further, Reliance Capital Asset Management (RCAM), a part of Reliance Capital, has decided to suspend new subscriptions in Reliance Gold Savings Fund. Existing SIP investors will not be affected by this decision.

These decisions are subject to necessary regulatory approvals, etc.

"Reliance Capital is committed to support all policy objectives of the Government and the RBI. We sincerely hope that all stakeholders across business, trade and industry will act in a responsible manner to minimize gold imports that have placed an unbearable burden on the Current Account Deficit (CAD), and are severely hurting the country's growth prospects" said Mr. Sam Ghosh, CEO, Reliance Capital.

About Reliance Capital
www.reliancecapital.co.in

Reliance Capital, a part of the Reliance Group, is one of India's leading private sector financial services companies. It ranks amongst the top private sector financial services and banking groups, in terms of net worth. The company is a constituent of CNX Nifty Junior and MSCI India.

Reliance Group is amongst India's leading business houses with over 230 million customers. The Group has a strong presence across a wide array of high growth consumer-facing businesses of financial services, telecom, energy, power, infrastructure and media and entertainment.

Reliance Capital has interests in asset management and mutual funds; life and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; private equity; asset reconstruction; proprietary investments and other activities in financial services.

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Sharad Goel sharad.goel@relianceada.com +91-9324984296

Reliance Capital

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