V. K.

Sharma
Director & Chief Executive

April 1, 2012 Friends, We have just completed yet another eventful FY12. I am extremely proud of the level of commitment shown by each of you in this years campaign. The final figures are in the process of compilation and I have no hesitation to say that we will be rocking on all counts. In the beginning of the year, we embarked upon audacious goals with the ambition to elevate organizational thinking. Great to see many Offices achieved or exceeded the budget. For those who did not, it was an opportunity for a learning experience. On the recovery front, the path was a troublesome trajectory in view of the overall fragile state of the economy. It became imperative for the Recovery Teams to come out with robust initiatives rather than holding the breath and watch helplessly. I appreciate the endurance to ensure that asset quality continues to mesmerize the market as our topmost attribute. Our tasks are interconnected and interdependent. The Teams at the back end operations and Regional Centres have proven by efficiently fine tuning the volumes, lead and managed the business. Certainly the change agent is shift of perception from what we do to how we do . In this context, I must compliment each one for the resilience shown in the smooth transition in our IT platform which has boosted the confidence levels to scale up. I always believe that organizational progress and personal progress are complimentary. My best wishes to all of you who are appearing for the round of promotions round during the year 2012. We are well positioned to remain a competitive force in housing finance space. Lets all continue to enjoy working with the organization and create profitable business models around innovations in the coming year. To quote Ralph Waldo Emerson, 'What lies behind you and what lies in front of you are tiny matters in comparison to what lies inside of you. I value any specific feedback that will strengthen the Company. Thank you once again for all you are doing for LIC HFL. With warm regards, Sincerely,

DIRECTOR & CHIEF EXECUTIVE Registered & Corporate Office: Bombay Life Building, 2nd floor, 45/47, Veer Nariman Road, Fort, Mumbai - 400 001. Tel: 2204 9682, 2204 9799, 22040006. Fax: 22049839. www.lichousing.com