DSP Merrill Lynch signs MoU with South Indian Bank

Asset Management Company DSP Merrill Lynch Fund Managers and private
sector bank South Indian Bank has signed a memorandum of understanding
for distribution of various products.

As per the deal, South Indian Bank would distribute DSP Merrill Lynch
Mutual Fund schemes through its select branches across the country, a
company release here said.

"Offering advice on mutual fund investments is an extension of the
value added services that are offered by banks.

We see South Indian Bank as an important partner for providing asset
management products to Indian investors and are very happy to embark
on this long-standing relationship" DSP Merrill Lynch Fund Managers,
Products and Business Development, Head, Pankaj Sharma said.

The initiative is in line with the strategy adopted by DSP Merrill
Lynch Fund managers to expand their retail investor base.

DSP Merrill Lynch Fund Managers began operations in 1997 and as of May
31, 2008 has assets under management, including advisory and offshore
funds, of Rs 29,759 crore.