India Opportunities Fund Limited

Cyman Davies, Joel Hernandez and Alistair Horn advised ICICI International Limited, a wholly owned subsidiary of ICICI Bank (India’s largest private sector bank) in connection with the establishment of India Opportunities Fund Limited, a Jersey domiciled feeder fund promoted by ICICI International Limited. The feeder fund was structured as an open-ended unclassified umbrella class feeder fund with an initial share class investing into the Rising India Fund of the India Optima Fund. The India Optima Fund will invest into a portfolio of listed and unlisted Indian equity and equity-related securities.

May 2007