Reliance Gold Fund NFO Sets New Benchmarks

Over 2 Lakh Investors Participate in the Fund

MUMBAI, India, March 9, 2011 - Years

- Fund Collects Rs 500 crore Lump sum Investment In Addition to SIPs

- Scheme to Open for Investment After Allotment From March 14, 2011

Reliance Mutual Fund, India's largest fund house, today
announced that the company received over 2 lakh applications for its recently
concluded Reliance Gold Fund. The fund also registered the largest number of
applicants opting for the Systematic Investment Plan (SIP) for any NFO to
date.

The announcement was made by Mr. Sundeep Sikka, CEO, Reliance
Mutual Fund, here today.

"The retail investor has welcomed this new mode of investing
in gold by registering the largest number of SIP applications for any NFO.
Through SIPs, we have a commitment of Rs 350 Crs every year for the next 10
years, thereby locking in approx Rs 3500 Crs. This is in addition to the lump
sum investment of close to Rs 500 Cr. Going by the encouraging response I'm
sure we would see more of such product offerings from the industry
participants", said Mr Sikka

The NFO was a first-of-its-kind fund-of-fund enabling
investments in gold, in paper form, without any Demat account. This is unlike
the existing gold investments in Exchange Traded Fund (ETF) mode where a
Demat account is mandatory. The allocation of investment in the fund would be
completed by March 14, 2011.

"The large participation in the fund reaffirms our belief that
Gold will emerge as one of the largest asset classes for the Indian MF
industry," said Mr. Sikka.

The fund, which opened on February 14 and closed on February
28, 2011, would reopen for investments after allotment from March 14, 2011.

"This is a high point for the industry especially as the new
NFO guidelines with reduced NFO and allotment period meant that despite of
our presence in over 1000 locations, only investors in 100 odd locations
could take advantage of the fund. We are convinced that once the scheme
reopens for investment, with no constraints on the number of locations and
allotment, we would see investors pan India benefiting from the fund," said
Mr Sikka.

About Reliance Mutual Fund

Reliance Capital Asset Management Limited (RCAM) manages US$
24 billion (as on 31st January 2011) across mutual funds, pension funds,
managed accounts and hedge funds. It is the only AMC in India to have been
chosen to manage both public funds sponsored by the Indian government - the
Provident Fund and Pension Fund. The company offers a well-rounded portfolio
of products that meet varying requirements and constantly endeavors to launch
innovative products and customer service initiatives to enhance value for its
investors.

Reliance Mutual Fund (RMF) schemes are managed by RCAM, a part
of Reliance Capital Limited which is one of India's largest financial
services companies

    Media Queries

    Sharad Goel
    Sr Vice President
    Corporate Communications
    Reliance Capital
    sharad.goel@relianceada.com
    +91(0)9324984296

Media Queries: Sharad Goel, Sr Vice President, Corporate Communications, Reliance Capital, sharad.goel at relianceada.com, +91(0)9324984296