HDFC MF Changes Fund Manager

With effect from 2 April 2007, Mr. Chirag Setalvad will be managing the following funds: - HDFC Capital Builder Fund, HDFC Long Term Advantage Fund, HDFC Children’s Gift- Savings Plan, HDFC Children’s Gift- Investment Plan, HDFC Multiple Yield Fund- Plan 2005 and HDFC Balanced Fund. Earlier these funds were being managed by Mr. Vinay Kulkarni. Mr Setalvad has a degree in Business Administration from University of North Carolina and brings with him an experience of over 10 years in fund management and equity research.