Some investments rarely lose their shine.

Religare Gold Exchange Traded Fund.

(an open ended Gold ETF)

NFO Opens: 28th Jan, 2010 Closes: 23rd Feb, 2010

Religare Gold ETF Jump into gold!

Content Gold Market Dynamics Does it merit long term investment? Religare Gold ETF

Market Dynamics Factors affecting Gold Prices

Supply Side
New Gold Discoveries

Other Factors
Financial & Economic Crisis

Demand Side

Religious Festivals

Central Bank Reserves

Inflation

Industrial Demand

Political Risks

Golden China

Dollar

Indian Wedding Season

Gold Market Dynamics Demand by Sector

Total Global Demand (2008): Approx. 3800 tonnes
The strongest demand was for jewellery accounting for 2185 tonnes Total industrial demand, including from dental industry was 435 tonnes ETFs & other similar products accounted for 320 tonnes 862 tonnes were converted into bars, gold coins and other retail investment products

Jewellery - 58% Industrial & Dental - 11% Bar & Gold Coin Retail Investment - 23% ETFs & Similar Products 8%

Source: World Gold Council, Gold.org

Gold ETFs Adding to the demand

2000 1800 1600 1400 Tonnes 1200 1000 800 600 400 200 0 175 3 2002 42 2003 2004 2005 2006 2007 2008 2009Q3 383 643 896 1200

Global ETF Demand (Tonnes) - Cumulative Gold Price (US$/ Oz)

1217

1780

1100 1000 900 US$/Oz 800 700 600 500 400 300 200

The inflows into ETFs have thus far continued unabated, buoyed by rally in gold prices Safe haven buying is supporting the price of Gold
Source: Bloomberg, World Gold Council, Gold.org

Gold Reserves Holdings of Central Banks and IMF

United States Germany IMF Italy France Gold ETFs China Switzerland Japan Netherlands Russia India ECB Taiwan Portugal
-

8,133 3,408 3,217 2,452 2,435 1,780 Gold Reserves (Tonnes), Q3 2009 1,054 1,040 765 612 591 558 (includes 200 tonnes purchase from IMF) 537 424 383 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000

9,000

Gold ETFs holding globally is ranked 6th vis--vis other Central Banks and IMFs gold reserves China has increased its gold reserves by 166% since 2000
Source: World Gold Council, Gold.org. IMF: International Monetary Fund

Gold Market Dynamics Supply

Old Gold Scrap, 1209 Tonnes

Official Sector Sales, 236 Tonnes

Mine Production (net of hedging), 2064 Tonnes

Total supply of gold, including scrap gold sales is over 3500 tonnes in 2008 Mine production in 2008 was around 2064 tonnes

Supply Mine Production (net of hedging) Official Sector Sales Old Gold Scrap Total Supply

Tonnes 2064 236 1209 3509

De -hedging Since mine operators are subject to substantial capital expenditure for exploration and production, they sell parts of their future gold output forward. The cancellation of these forward positions is called De-Hegding. i.e additional gold is taken off the market

Source: World Gold Council, Gold.org. Data as on Dec 2008

Gold Market Dynamics Supply

Declining Mine Production
2,700 2,600 2,500 Tonnes 2,400 2,300 2,200 2,100 2,000

Real value of Gold will increase in the long term as production declines
Gold Mine Production (1990-2008) Price of Gold Gold Mine Production
900 800 700 600 500 400 300 200 US$/Oz

Gold Mine production has been on a decline peak production was in the year 2001 over 2,600 tonnes New Gold Mine deposits are harder to find
Source: U.S Geological Survey, Bloomberg

19 9 19 0 9 19 1 9 19 2 9 19 3 9 19 4 9 19 5 9 19 6 9 19 7 9 19 8 9 20 9 0 20 0 0 20 1 0 20 2 0 20 3 0 20 4 0 20 5 0 20 6 0 20 7 08

Gold Market Dynamics Supply

Fewer New Mine Discoveries
100 90 80 70 60 50 40 30 20 10 0

Number of new discoveries and resources in new discoveries (million ounces)

16 14 12 10 8 6 4 2 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 0

Dearth of major new mine discoveries in the last few years

Resources in Discoveries 3-year Avg. (LHS)

Number of new discoveries (RHS)

Source: Metals Economics Groups

Gold Market Dynamics Supply

Recycled Gold Surges
600 500 400

Gold Supply - Old gold scrap (tonnes)

Tonnes

300 200 100 0

Q 1' 09 Q 3' 08 Q 2' 09 3' 07 1' 0 1' 0 2' 0 2' 4' 4' Q Q Q Q Q Q Q Q 3' 09 07 8 07 08 7 8

Some of the gold deficit is met through recycled gold

Source: World Gold Council, Gold.org

Gold Market Dynamics

4000 3500 3000 2500 Tonnes 2000 1500 1000 500 0 1994 1995 1996 1997 1998 1999 2000

Demand vs. Supply (Gap widening)

Demand Supply Deficit

2001

2002

2003

2004

2005

2006

2007

Gold Supply roughly is 2500 tonnes (mine production) per annum Traditional demand exceeds the supply significantly some of this gap is filled by recycled Gold (old gold scrap sales)
Source:World Gold Council, Gold.org

10

2008

Decline in Central Bank's Sales Have turned into

net buyers of Gold
Global Currency Debasement - US dollar weakness leading to Central Bank's replacing dollar reserves with Gold. Increased Money supply by US and other nations - Can create very Gold Friendly environment.

500 400 600 500 400 Tonnes 300 200 100 1999-00 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 0

433 260

CBGA II Limit
Tonnes

300 200 100 0 -100 -200 -300 -400

-298 -242 -285 -349 -81 -169 -226 -242 -174 -169 -211 -235 -90 -34

CBGA I Limit

Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec02 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09

Signatory banks of CBGA II have sold less gold

Central Banks around the world (including CBGA signatories) have turned into net buyers of Gold in 2009

Source: World Gold Council, Gold.org CBGA: Central Bank Gold Agreements

11

Conclusions
No major threat of increased supply Declining production and increasing demand make Gold very attractive Central banks selling less declining trend Strong demand for Gold in emerging markets, particularly India and China Strong investment demand investments in Gold ETFs already rank 6th

12

Jump into Gold!

Does it merit long term investment?

13

Gold as an Inflation Hedge?

4400 3900 3400 2900 2400 1900 1400 900 Jan- Jun- Nov- Apr- Sep- Feb02 02 02 03 03 04

Gold Prices Gold Prices-adjusted for Inflation WPI Inflation (India)

3780

2475

1527

Jul- Dec- May- Oct- Mar- Aug- Jan- Jun- Nov- Apr- Sep- Feb04 04 05 05 06 06 07 07 07 08 08 09

Jul- Dec09 09

Prices Rebased to 1000

Gold is renowned as a hedge against inflation as inflation goes up, price of Gold also tends to go up Gold preserves the purchasing power and infact even increases it gradually Inflation adjusted gold prices have generated a positive rate of return in the last 7 years
Past Performance may or may not be sustained in future
Source: Bloomberg. Data as on 31st Dec, 2009.

14

Gold A shining performance

Gold versus other asset classes
Sep-05 Sep-06 Sep-08 Sep-04 Sep-07 Sep-09
7.00 0.90 0.67

Dec-05

Dec-06

Dec-07

Dec-08

Dec-04

Mar-05

Mar-09

2.20 1.04 0.99

0.99 15.93 19.19 1.44 0.32 0.14 5.07 11.59 1.35 0.91 1.08 0.87 0.59 1.12

9.09 17.15 11.35 19.95 8.90 14.71 10.53 2.06 13.00 16.28 22.25 13.94 6.87 1.81 1.48 9.48 6.57 1.40 1.21 9.04 11.96 1.71 2.73 1.09 0.54 0.43 6.15 1.35 1.60 1.03 4.05 1.86 1.71 8.02 1.74 1.43 1.10 1.09 1.94 1.77 0.91 5.82 11.75 11.02 1.71 2.65 2.51 2.58 2.25 1.95 2.57 1.99 1.67 1.66 1.77 0.98

Jun-08

3.79 2.15 1.64

7.86 4.97 2.55 2.01

9.73 42.04 18.48 5.65 2.09 19.73 16.90 3.68 2.06 1.90 2.41 2.33 2.30 1.48 1.30 0.67

0.92 -1.09 0.65 -2.82 -1.52 -0.30

-1.55 1.26 -1.83 1.16

1.04 -1.14 1.22

0.70 -1.13 1.42 0.04 -8.06 -2.57

-0.16 1.84

-9.53 -2.45 -2.95 -22.18 -0.54 1.39

Worst

-5.74 -15.03 -1.38 -0.55 -2.16 -0.21 1.17

-3.65 -7.18 1.46

-2.74 -22.87 -14.66 -15.67 -24.53 -12.50 -3.72 0.14

Cash Short-Term Debt Long-Term Debt

GOLD CNX S&P Nifty MSCI World Index

Past Performance may or may not be sustained in future

Source: Bloomberg. Quarterly performance of different asset classes. Data from Mar 2004 to Dec 2009. Cash represented by Crisil Liquid Fund Index, Short Term debt represented by Crisil Short Term Bond Fund Index and Long term debt represented by Crisil Composite Bond Fund Index

15

Dec-09

Mar-04

Mar-06

Mar-07

Jun-04

Jun-06

Mar-08

Jun-05

Jun-07

Jun-09

Best

Gold as Dollar Hedge

1400 1200 1000 800 600 400 200 0 1991 1999 2000 2002 1976 1978 1984 1986 1988 1990 1995 1975 1980 1982 1993 1997 2004 2006 2008 Gold Price (USD/Oz) - LHS Dollar Index - RHS 170 160 150 140 130 120 110 100 90 80 70 2009 1.00 0.80 0.60 0.40 0.20 0.00 -0.20 -0.40 -0.60 -0.80 -1.00
Since 1975 Last 10 Years Last 3 Years

Gold - Dollar Correlation

-0.30

-0.46

-0.48

Gold has historically exhibited an inverse relationship to the US dollar, which has grown stronger in the recent years Gold is bought and sold in US dollars, so any decline in the value of the dollar causes the price of gold to rise
Source: Bloomberg. Data as on 31st Dec 2009.

16

Dow / Gold Ratio

45 40 35 30 25 20 15 10 5 0 1920 1929 1938 1947 1956 1965 1974 1983 1992 2001 9.5 7.8

Median : 7.8

2009

Currently, the ratio is 9.5, the historical median is 7.8. Gold still looks attractively valued in comparison with US shares Although it is significantly below its peak in 1999, it is still 9 times higher than in the 1930s and 1970s bear market bottom
Source: Bloomberg. Data as on 31st Dec, 2009. Dow/Gold ratio shows the ratio of price of gold with the price of the Dow Jones. In another words, it represents the number of ounces of gold it takes to buy one basket of the Dow Jones index

17

Gold Low Correlation with other Asset classes

An Effective Portfolio Diversifier
1.0 0.8 0.6 0.4 0.2 0.0 -0.2 -0.4 -0.6 -0.8 -1.0 Gold Cash Long Term Debt Short Term Debt Crude Oil -0.04 -0.01 -0.03 0.29 1.00

Period: Jan 2002 Dec 2009

1.00 0.80 0.60 0.40 0.20 0.00 -0.20 -0.40 -0.60 -0.80 -1.00

1.00

Period: Jan 2000 Dec 2009

0.04 -0.04

GOLD

S&P NIFTY India

MSCI World Index

A portfolio comprising of un-correlated assets generally has low volatility If one asset class underperforms, it is compensated by the out performance of other asset classes, thereby stabilizing overall returns

Source : CRISIL, Bloomberg, Religare Mutual Fund. Short Term debt represented by Crisil Short Term Bond Fund Index and Long term debt represented by Crisil Composite Bond Fund Index. Cash is represented by Crisil Liquid Fund Index. Correlation is a statistical measure of how two securities move in relation to each other.

18

Gold Low on volatility

0.35

0.3

Nifty and Gold - Monthly Volatility (July 1990 Dec 2009) Nifty Gold

0.25

0.2

(%)
0.15

0.1

0.05

Source: Bloomberg. Data as on 31st Dec, 2009

19

Jan-2009

Dec-2009

0 1993 1998 1999 2001 2002 2003 2005 1990 1991 1992 1994 1995 1996 2000 2004 2006 2007 1997 1998 2008

Gold Safe Haven during Financial Crisis

55 35 15
11.78%

Nifty Returns (%) Gold Returns (INR) (%) MSCI World Index (%)
5.52% -0.80% -17.45% -13.78% -21.95% -18.91% 7.2% 41.99%

(%)

-5 -25 -45 -65

-5.96%

-49.92%

-48.99%

Jan 00 May 02

April 04 Jun 04
Date Range Jan 00 - May 02 Apr 04 - Jun 04

Mar 06 Jun 06
Nifty Returns -17.45% -21.95%

Dec 07 Mar 09
MSCI World Index -13.78% -0.80%

Event Dotcom Bubble Unexpected Election result leads to sharp fall in India and Trading Suspension, World markets uneasy ahead of First Fed rate hike in 4 years Heavy selling by FIIs, retail investors and global weakness. Credit Crisis

Gold Returns (INR) 11.78% 5.52%

Mar 06 - Jun 06 Dec 07 - Mar 09

-18.91% -49.92%

7.2% 41.99%

-5.96% -48.99%

Past Performance may or may not be sustained in future

Source: Bloomberg. Religare Mutual Fund. Returns are absolute in nature. Returns shown for Jan00-May02 and Dec07-Mar09 are CAGR, whereas absolute for Apr04-Jun04 and Mar06-Jun06 period

20

Investor Allocation to Gold is Low

Market Capitalisation (bn) Largest Gold ETF (US) United States
The largest gold ETF in the world represents only about 0.29% of the total market cap of US stocks.

40 13,900

Source: Bloomberg. Data as on 18th Jan, 2010

21

Presenting

Religare Gold ETF Jump into Gold!

22

Religare Gold ETF

Simply put it is a gold exchange traded mutual fund scheme that invests in physical gold It is a convenient and inexpensive alternative to owning physical gold The Fund is designed to seek returns that closely correspond to the returns provided by investment in physical gold

23

Religare Gold ETF All that glitters is Gold

The Fund invests only in physical gold of 99.5 purity or higher No issuer risk One Unit of Religare Gold ETF will represent 1 gram of Gold The Fund intends to remain fully invested at all times Gold Exposure, through derivatives is not allowed Lending and borrowing not allowed Currency Hedging versus US dollar The gold is physically segregated and stored exclusively in high- security vaults

24

Indians and GOLD

India is the worlds largest consumer of Gold

Gold is regarded as a symbol of wealth in Indian households Gold Purchases in India be it Dhanteras, Akshaya tritiya or any other auspicious occasion . Gold has ritual, religious and sentimental value attached Weddings are incomplete without Gold - accumulation starts with the new born child Gold for centuries has been regarded as safe haven in India Symbolizes Security In India, Gold has been accumulated and passed from generation to generation

Gold ETF is the new way to accumulate Gold.

" the desire of gold is not for gold. It is for the means of freedom and benefit" - Ralph Waldo Emerson

25

Benefits of Religare Gold ETF

Easily Accessible During NFO Retail Investors can directly buy from the Fund House Post NFO Units will be listed on National Stock Exchange and the Bombay Stock Exchange. Investors can buy, sell units through their normal brokerage accounts Cost Effective Much lower than cost of buying, storing and insuring physical gold Liquid Not limited to Secondary Market Trading at NSE / BSE Investors can create and redeem units in minimum lot size of 1000 units directly with the Fund House Physical Gold and Purity The underlying gold is held in the form of 1 kg bars. Gold held by the Fund shall be of fineness (or purity) of 995 parts per 1000 (99.5%) or higher; sourced from LBMA (London Bullion Market Association) approved refiners Transparent NAV will be declared on a daily basis and portfolio on a monthly basis

26

Religare Gold ETF Tax Treatment

From a Tax standpoint, the treatment will be similar to that of a debt mutual fund scheme, and it will not attract wealth tax, which is the case with physical gold Redemption of units of Gold ETF by Authorised Participant / Large Investors with mutual fund or Sale of Units by the investor on the Stock Exchange may attract short or long term capital gain tax depending upon the holding period of the Units Converting Units of Religare Gold Exchange Traded Fund to Gold may also attract Wealth Tax

Please consult your professional tax advisor.

27

Reasons to Invest in Gold

Gold as an inflation hedge keeps purchasing power intact Gold is an Effective Diversifier - Helps to contain Portfolio Risk. Low / Negative Co-relation with major asset classes Gold as Safe Haven in financial crisis Solid Asset Global Currency Debasement US dollar weakness to continue. Other countries are reluctant to see their currencies appreciate. This could lead to increase in price of Gold Investment demand on a rise globally hedge funds, Gold ETFs and mutual funds are driving up investment demand for gold for its safe haven qualities Gold Exposure is warranted based on macroeconomic considerations Central Banks have changed their attitude towards gold increasing Gold reserves

28

Who should invest?

Investors looking to diversify specific asset class risk, by combining Gold in their overall portfolio Investors who are bullish on long term prospects of Gold as a commodity Investors looking for a hassle free way of owning Gold Families accumulating Gold for future events e.g. Marriage etc. can look towards investing in Gold making small and regular purchases possible

29

Religare Gold ETF vs. Buying Physical Gold

Parameters
Mode Safety/ Storage Purity of Gold Pricing Liquidity Denomination

Religare Gold ETF

Demat No risk of theft 99.5 % or higher Transparent. Low on cost. On business days on the exchange 1 unit (1 gram of Gold)

Jeweller
Jewellery / Bar/ Coins High Risk Cant Say Cant Say Relatively at High Cost Pre-defined

Banks
Bar / Coins High Risk High on Purity High Mark up Low on Liquidity Pre-defined

30

Physical Gold vs. Gold Mining Shares

The difference is Risk. Gold Mining Shares will come with higher risk compared to investments in physical gold Gold mining share is not gold. Its a company stock first and then secondly can be construed as Gold A Gold Mining Share is NOT a substitute for physical Gold. It represents a benefit in the future from potential Gold deposits in the ground and not the actual Gold itself Physical Gold ownership has protected investors during periods of economic depression, wars and political unrest. Mining stocks could be negatively affected in such times as stock markets may be closed or adversely affected for a period of time

31

Commodity vs. Gold / Oil Companies

300

Gold versus HUI Gold mine index

GOLDS Comdty HUI Index 250

Crude Oil versus NYSE Arca Oil

CL1 Comdty XOI Index 200 USD

250

200

USD

150

150

100

100

M ay-0 7

M ay-0 8

M ay-0 9

N ov-0 7

N ov-0 8

Jan -0 5 M ar-0 5 M ay-0 5 Ju l-0 5 S e p -0 5 N ov-0 5 Jan -0 6 M ar-0 6 M ay-0 6 Ju l-0 6 S e p -0 6 N ov-0 6 Jan -0 7 M ar-0 7 M ay-0 7 Ju l-0 7 S e p -0 7 N ov-0 7 Jan -0 8 M ar-0 8 M ay-0 8 Ju l-0 8 S e p -0 8 N ov-0 8 Jan -0 9 M ar-0 9 M ay-0 9 Ju l-0 9 S e p -0 9 N ov-0 9

Prices rebased to 100

Prices rebased to 100

Owning the stocks of commodity companies is not the same as owning the underlying commodity The movement of the commodity price is not always reflected in the movement of stock prices as a stock trades based on long term average prices rather than current prices
Past performance may or may not be sustained in future
Source: Bloomberg. Data as on 31st Dec 2009.

32

N ov-0 9

S e p -0 7

S e p -0 8

S e p -0 9

M ar-0 7

M ar-0 8

M ar-0 9

Jan -0 7

Jan -0 8

Jan -0 9

Ju l-0 7

Ju l-0 8

Ju l-0 9

50

50

Key Facts
Type Investment Objective Asset Allocation
An open-ended Gold Exchange Traded Fund To generate returns that closely correspond to the returns provided by investment in physical gold in the domestic market, subject to tracking error Type of Instruments Physical Gold Debt and Money Market instruments
* Investments in securitized debt can be made by the scheme up to 10% of the net assets

Indicative Allocation (% of total assets) 90-100% 0-10%

Risk Profile Medium Low to medium

Minimum Application Amount Unit Loads Fund Manager Listing Benchmark

Rs. 5,000 per application and in multiples of Re.1/1 unit = approx. price of 1 gram of Gold Entry Load: Nil Gautam Kaul National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) Price of Gold Exit Load: Nil

33

Compliance Information
Disclaimer: This information alone is not sufficient and shouldnt be used for the development or implementation of an investment strategy. It should not be construed as investment advice to any party. The readers should exercise due caution and/or seek independent professional advice before making any investment decision or entering into any financial obligation based on information, statement or opinion which is expressed herein. All opinions, figures, charts/graphs, estimates and data included in this presentation are as on date and are subject to change without notice. The statements contained herein may include statements of future expectations and other forward looking statements that are based on our current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. The data used in this material is obtained by Religare AMC from the sources which it considers reliable. While utmost care has been exercised while preparing this document, Religare AMC does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. The recipient of this material should rely on their investigations and take their own professional advice. Risk Factors: All mutual funds and securities investments are subject to market risks and there can be no assurance that the objective of Scheme will be achieved. Investment in mutual fund units involve investment risks such as trading volumes, settlement risk, liquidity risk, default risk including the possible loss of capital. As with any investment in securities, the NAV of the units issued under Scheme may go up or down depending upon the factors and forces affecting the securities markets. As the Scheme will invest primarily in physical gold, the NAV of the Scheme will react to the price of gold. The prices of gold may be affected by several factors such as demand and supply of gold in India and in the global market, change in political, economical environment and government policy, inflation trends, currency exchange rates, interest rates, perceived trends in bullion prices, restrictions on the movement/trade of gold by RBI, GOI, etc. Past performance of the Sponsor and its affiliates / AMC / Mutual Fund and its Scheme(s) do not indicate the future performance of the Scheme of the Mutual Fund. There is no assurance or guarantee to unit holders as to the rate of dividend distribution nor that dividend will be paid regularly. Investors in the Scheme are not being offered any guaranteed / assured returns. Religare Gold Exchange Traded Fund, an open-ended Gold Exchange Traded Fund is only the name of the Scheme and does not in any manner indicate either the quality of the Scheme or its future prospects and returns. Please read the Statement of Additional Information (SAI) / Scheme Information Document (SID) before investing. SID, SAI and Key Information Memorandum cum Application Form are available at the ISC/Distributors. Terms of Issue: Offer for Units having face value of Rs. 100 each and will be issued at a premium equivalent to difference between the allotment price and face value during the New Fund Offer. After the closure of NFO, the Units of the Scheme will be listed on Stock Exchange(s) and the same can be purchased / sold in round lots of 1 Unit during the trading hours of the Stock Exchange(s) like any other publicly traded stock. In addition to purchase and sale of Units on Stock Exchange(s), Authorized Participants and Large Investors can directly subscribe to or redeem the Units of the Scheme with the Mutual Fund in Creation Units size at NAV based prices on all Business Days during an ongoing offer period. The NAV of the Scheme will be disclosed on all Business Days. Statutory Details: Religare Mutual Fund has been set up as a trust sponsored by Religare Securities Ltd. (liability restricted to Rs. 1,50,000) with Religare Trustee Company Ltd. as the Trustee (Trustee under the Indian Trusts Act, 1882) and with Religare Asset Management Company Ltd. as the Investment Manager. Disclaimer of NSE/BSE: It is to be distinctly understood that the permission given by National Stock Exchange of India Ltd. (NSE) / Bombay Stock Exchange Ltd. (BSE) should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE/ BSE nor does it certify the correctness or completeness of any of the contents of the draft Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of Disclaimer Clause of NSE/ BSE. Religare Enterprises Limited (REL) proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make a rights issue of its equity shares to its existing shareholders and has filed a letter of offer (LOF) with the Bombay Stock Exchange Limited (BSE), the National Stock Exchange of India Limited (NSE, together with BSE, the Stock Exchanges) and the Securities and Exchange Board of India (SEBI). The LOF is available on the websites of the Stock Exchanges and SEBI at www.bseindia.com, www.nseindia.com and www.sebi.gov.in, respectively, as well as on the website of the lead manager at www.enam.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the section titled Risk Factors of the LOF.

34

MKTG/ RPSUNFO/ C000182

For a more in-depth look at the Religare Gold Exchange Traded Fund, visit www.religaremf.com or call 1800 - 209 - 0007 for more information. Corporate Office: Religare Asset Management Company Limited 3rd Floor, GYS Infinity, Paranjpe B Scheme, Subhash Road, Vile Parle (East), Mumbai - 400 057 T +91 22 67310000 F +91 22 28371565