Shri Naresh Kumar Garg appointed as the CEO of Sahara Mutual Fund

Lucknow , April 1, 2008 : The Board of Directors of Sahara Asset Management Company in its Board Meeting held in Mumbai today appointed Shri Naresh Kumar Garg as the Chief Executive Officer (C.E.O.) of Sahara Assets Management Company Pvt. Ltd.

Shri Naresh Kumar Garg has vast experience in the mutual fund industry and has held important positions in the Fund Management of Offshore Funds, Domestic Equity Funds, Debt & Hybrid Funds. Shri Garg also functioned as Chief Investment Officer (C.I.O.) in UTI earlier and is the Principal Officer & CIO of Sahara Mutual Fund.

A double Gold Medalist, Shri Garg is a Chartered Financial Analyst (CFA), M.B.A. (Finance), CAIIB (Mutual Fund), M.I.E and I.A.C. (I & II) from U. K.

Sahara Asset Management Company is the investment manager to the Sahara Mutual Fund. Its Sahara Mid Cap Fund & Sahara Infrastructure Fund are ranked among the Top 100 Best Performing Equity Fund in the world. Sahara Infrastructure Fund-Variable Pricing- Growth also has secured the 5th rank and is among the top 10 performing infrastructure funds in the world for the year ended 2007. Sahara Tax Gain Fund has achieved the distinction of being ranked among the Top 10 Best Performing Equity Funds over 10 year performance as per Lipper, a Reuters company for the period ended December 31 st, 2007.

Sahara Mutual Fund currently manages six equity funds namely Sahara Tax Gain Fund, Sahara Growth Fund, Sahara Mid Cap Fund, Sahara Wealth Plus Fund, Sahara Infrastructure Fund, Sahara R.E.A.L. Fund and nine debt funds namely Sahara Income Fund, Sahara Gilt Fund, Sahara Liquid Fund, Sahara Classic Fund, Sahara FMP 3 Months- Series 3 & 4 and Sahara FMP 395 Days – Series 1, 2 & 3. These Funds have been performing remarkably well.