CITY UNION BANK LIMITED, KUMBAKONAM

City Union Bank receives RBI Approval for the preferential issue of equity shares to Larsen & Toubro Limited.

City Union Bank Limited received the approval from the Reserve Bank of India for the preferential issue of equity shares to Larsen & Toubro Limited. The Bank proposes to allot 12,00,000 equity shares of Rs.10/- each at a price of Rs.169/- per share (including a share premium of Rs.159/- per share) in the Board Meeting to be held on 29^th March, 2007 at Chennai. The issue was earlier approved by the shareholders of the Bank at their Extra Ordinary General Meeting held on 29^th December, 2006.