Avenues ties up with Kotak Mahindra Bank.

May 10, 2005.

There is good news for Kotak Mahindra Bank's Net Banking Account Holders. You can now buy goods / services and book Hotel rooms of over 4000 of Avenues appointed merchants sites and pay directly through your Kotak Mahindra Bank Net Banking account. This is now possible because of Kotak Mahindra Bank's latest tie-up with Avenues for its solutions, CCAvenue.com , India 's largest neutral online payment gateway and ResAvenue.com , India 's complete reservation engine with built in Payment Gate for the Hospitality Industry.

Kotak Mahindra Group is one of India 's leading financial institutions, offering complete financial solutions that encompass every sphere of life. The group has a net worth of over Rs.1, 800 crore and employs over 4,400 employees in its various businesses. With a presence in 82 cities in India and offices in New York , London , Dubai and Mauritius , it services a customer base of over 5, 00,000. The Kotak Mahindra Group's flagship company, Kotak Mahindra Finance Ltd which was established in 1985, was converted into a bank – Kotak Mahindra Bank Ltd in March 2003 becoming the first Indian company to convert into a Bank. It's banking operations offers a central platform for customer relationships across the group's various businesses. The bank has a presence in the Commercial Vehicles, Retail Finance, Corporate Banking and Treasury and Housing Finance segments. It operates at the cutting edge of technology for its customers and offers innovative services to its customers, such as Free Tele-banking / Fax Banking facility, and Centralized Banking Solution (CBS), an inter-branch networking and data sharing platform which makes 'Anytime Anywhere' banking a reality for its customers.

Mr. Vishwas Patel, CEO of Avenues says, "This is a bank which believes in deploying technology for the benefit of its customers. We are looking forward to provide maximum benefits to Kotak Mahindra Bank's Net Banking Account Holders and open up a whole new world of a ‘literal cashless window shopping' for them. With this tie-up with Avenues, Kotak Mahindra Bank's Net Banking Account Holders will have the convenience of using their bank accounts to pay for the goods and services of over 4000 of Avenues' web merchants retailing millions of different types of products and services. They will be able to buy books / clothes / cinema tickets, send gifts, donate to temples / religious organizations, book hotel rooms and even search for their life partners on bharatmatrimony.com, shaadi.com or jeevansathi.com, and pay in real time from their Kotak Mahindra Bank's Net Banking Accounts, all from their comforts of their homes / offices at the time of their convenience."

About Kotak Mahindra Bank
It is one of India 's leading financial institutions, offering complete financial solutions that encompass every sphere of life. The group has a net worth of over Rs.1, 800 crore and employs over 4,400 employees in its various businesses. With a presence in 82 cities in India and offices in New York , London , Dubai and Mauritius , it services a customer base of over 5, 00,000. The Kotak Mahindra Group's flagship company, Kotak Mahindra Finance Ltd which was established in 1985, was converted into a bank – Kotak Mahindra Bank Ltd in March 2003 becoming the first Indian company to convert into a Bank. It's banking operations offers a central platform for customer relationships across the group's various businesses. The bank has a presence in the Commerial Vehicles, Retail Finance, Corporate Banking and Treasury and Housing Finance segments. For more information about Kotak Mahindra Bank, please visit http://www.kotak.com

About Avenues India Pvt. Ltd
Established in the year 2001 and headquartered in Mumbai, India, Avenues provides turnkey e-commerce solutions to over four thousand eMerchants worldwide through its solutions www.CCAvenue.com , www.ResAvenue.com , www.CineAvenue.com , www.EventAvenue.com and BpoAvenue.com . It is the largest eCommerce solutions provider in South Asia. CCAvenue, its payment gateway solution, is the preferred Indian payment-processing service for e-commerce, providing server-based payment solutions, enabling merchants to process secure transactions in real time, 24 hours a day. The company's services are powered by proprietary technology that integrates online payment processing, fraud control, financial reporting and tracking. Avenues has formed strategic alliances with leading financial institutions and technology partners to deliver the most comprehensive online authorization and processing services available to Indian eMerchants. Every Avenues solution comes with a secure, comprehensive payment service and an accounting module to maximize growth at every stage of a merchant's business lifecycle. For more information about CCAvenue, please visit the company online at www.CCAvenue.com or call (022)-67425555.