ICICI Response to Media Reports.Business Editors MUMBAI, India--(BUSINESS WIRE)--April 10, 2001 There have been recent media reports on ICICI ICICI Industrial Credit and Investment Corporation of India (NYSE NYSE See: New York Stock Exchange :IC) having funded Zee Telefilms Limited (ZTL ZTL Zona A Traffico Limitato (Italy) ZTL Zee Telefilms Ltd ZTL Telluride, Colorado (airport code) ZTL Zecher Tzaddik Libracha (Hebrew name) ZTL Zero Torsional Load ) and Himachal Futuristic Communications Limited (HFCL HFCL Himachal Futuristic Communications Limited ). ZTL is engaged in the business of creating and supplying media programmes for telecast on the various Zee channels, while HFCL is a significant player in the Indian telecom sector. ICICI has a business relationship with both the groups. ICICI has loan exposures in ZTL since 1998-99 and in HFCL since 2000-01. Both the facilities have been provided after necessary due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and with a comprehensive security package. ICICI has no equity exposure in these companies nor has it funded any equity operations in these companies. Except for the historical information contained herein, statements in this release which contain words or phrases such as "will," "would," "aim," "will likely result," "believe," "expect," "will continue," "anticipate," "estimate," "intend," "plan," "contemplate," "seek to," "future," "objective," "goal," "project," "should," "will pursue" and similar expressions or variations of such expressions may constitute "forward-looking statements." These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, future levels of non-performing loans, our growth and expansion, the adequacy of our allowance for credit losses, technological changes, investment income, cash flow projections A Cash Flow Projection is an attempt to forecast the cash flows that will be generated by an asset, often a company, over a specified time frame. Methodology Projections can be made with varying levels of detail, but any cash flow projection for a business entails , our exposure to market risks, demand for various products and services offered by ICICI, as well as other risks detailed in the reports filed by ICICI Limited with the Securities and Exchange Commission of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . ICICI undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. |
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