Employee Stock Option Scheme

Federal Employee stock option scheme

At the meeting of the Nomination/Compensation Committee of the Board held today (i.e. December 09, 2010), it has been resolved that the exercise price for the stock options to be granted at its immediate ensuing meeting held after the approval of the Bank's Employee Stock Option Scheme by the shareholders, will be the latest available closing price of the shares of the Bank listed on NSE/BSE, prior to the date of such meeting of the Nomination/ Compensation Committee.