December 1, 2006

“Avenues announced today that it has signed on ‘The Bank of Rajasthan’ as its net banking partner. With this it has added yet another bank to its already extensive range of payment options”.

Avenues South Asia’s largest integrated eCommerce Company is the Holding Company for a number of e-Ventures. It aims at providing highly customized and innovative end-to-end ASP hosted solutions for a variety of industry verticals. Its three main offerings are CCAvenue - India's largest neutral online payment gateway, ResAvenue - India's complete reservation engine for the Hospitality Industry and with EventAvenue – the online management solution for the Event Industry.

Since its launch in 2001, Avenues has been constantly developing and enhance its solutions with different types of value additions. One of the key value additions over the years has been the increase in its banks and payment options partners. This enables it to widen the paying customer base for merchants, hoteliers and event managers.

Through this mutually beneficial association, ‘The Bank of Rajasthan’ will gain advanced technology and will be able to provide their customers with shopping facilities at over 4000 websites. The Bank of Rajasthan customers will benefit as they can now use 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 can make and pay for hotel reservations online; and can make online bookings for events and exhibitions.

Mr. Vishwas Patel, the CEO of Avenue said, "Today, more and more people and businesses are discovering the power of the internet. We at Avenues want to ensure that our merchants, hoteliers and event managers, receive the most out of their real time, 24 x 7 online shops. To further this aim, especially in a credit card adverse society like India, you need to have as many net banking options as possible. We are constantly working towards this goal and we hope to include many more banks in the near future”.

About The Bank of Rajasthan
Established in May 1943 in Udaipur, The Bank of Rajasthan is the largest private sector bank in North India. The bank provides its customers with the following services - Commercial Banking, Merchant Banking, Auxiliary services, Consumer Banking, Deposit & Money Placement services, Trust & Custodial services, International Banking, Priority Sector Banking, and Depository. It also has specialized Forex and Industrial finance branches.

The Bank of Rajasthan has branches all across India with prominent presence in Rajasthan. Its large network includes 12 Regional Offices, 436 branches 5 extension counter and 344 Online Branches (Includes Extn. Counters). 96 branches are fully computerized.

About Avenues India Pvt Ltd
Avenues is a profitable, debt-free INR 168 crore + turnover company (as on 31/3/2006) and currently services more than six thousand eMerchants worldwide through its solutions www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.CineAvenue.com, www.TrustAvenue.com and www.BpoAvenue.com. It is the largest integrated eCommerce solutions provider in South Asia. Avenues has shown revenue growth and profit growth consistently, year on year even during the difficult economic environment of the past. Avenues is incorporated in India and has offices in Singapore, Hong Kong and USA. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 120 persons spanning across all disciplines. For more information, visit www.Avenues.info