Mumbai, July 04, 2005: DSP Merrill Lynch Limited, India's leading investment bank has topped the Bloomberg 2005 1H Mergers & Acquisitions (M&A) Financial Advisory League Tables representing publicly disclosed transactions announced between January 1, 2005 - June 30, 2005.

DSPML has been ranked No 1 with a market share of 19.4%, advising altogether nine deals valued at US$ 1,400 million USD, followed by Citigroup with a market share of 13.8 %, with three deals to its credit valued at US$ 998 million and ICICI Securities with a market share of 8.1%, with nine deals valued at US$ 589 million.

Commenting on the ranking, Mr Amit Chandra, Joint Managing Director, DSP Merrill Lynch limited, said: "DSP Merrill Lynch's Top ranking by Bloomberg underlines the strength of our firm's franchise and is a recognition of the value that we bring to our clients. 2005 has been significant in terms of size, complexity and nature of deals which indicates a structural deepening of the M&A landscape over 2004."

DSP Merrill Lynch Limited (DSP ML) - One of the leading investment banking and securities companies in India, DSP ML is a joint venture with Merrill Lynch & Co., the leading international capital raising, financial management and advisory company. Merrill Lynch has 40% equity ownership in DSP ML. DSP Merrill Lynch has been ranked by several highly respected international publications including Asiamoney, Institutional Investor & The Asset magazine.

Notes to the editor:

1.Bloomberg 2005 Q1 M&A Financial Advisory League Tables: January - June 2005

League table includes deals with Indian targets only.

2. List of deals announced by DSP Merrill Lynch Limied. Source: Bloomberg