Ahmedabad, February 6, 2002: BillJunction Payments Limited, a network company of ICICI Venture and a leader in Electronic Bill Presentment and Payment (EBPP) in India, today launched its Ahmedabad operations as part of its strategy to expand to emerging markets in the country. Ahmedabad residents will now be able to avail of the facilities of online bill presentment and payment by logging on to www.billjunction.com.

Says Mr. Bikramjit Sen, Chief Operating Officer, BillJunction Payments Ltd., "Ahmedabad has tremendous potential for online bill payments. According to industry sources Ahmedabad accounts for nearly 10 per cent of the bills raised in the Top 8 metros. We wish to give Ahmedabad residents a one stop destination for paying all their bills, anytime, anywhere. This service would provide 'Amdavadis' a complete online bill delivery, review and payment solution within a single, secure website."

BillJunction has tied up with 10 billers in Ahmedabad. They are BSNL (Telephone), Fascel and Birla AT&T (Cellular), LIC & ICICI Prudential Life (Insurance), ICICI Bank Credit Cards, Delhi Public School (School Fee), Mobilink Communications (Pager), Satyam Infoway (ISP) and Consumer Voice (Magazine subscription).

The key value proposition here is that a user can pay from any of his existing bank account(s). He does not even require a credit card to pay these bills. By presenting an electronic summary of the bill online and sending timely e-mail reminders, BillJunction manages the entire bill payment process online. It also offers value-added features like scheduling of future payments, standing instructions for automatic payments and online archiving of bills.

"This is a great opportunity for Ahmedabad residents to put e-commerce into use. With BillJunction committed towards bringing all the major utility services on to a single platform, the users can surely look forward to saying goodbye to all their bill payment woes - the e-convenient way." concludes Mr. Sen.

Billjuntion.com has product offerings to cater to the needs of individual bill payers as well as that of Corporates and Small & Medium Enterprises (SME).

About BillJunction

BillJunction.com was incubated by the E-Commerce Group of ICICI. It has now been spun off as a separate company to carry on the business of electronic bill presentment and payment. Billjunction Payments Limited. BillJunction is at the forefront of Internet electronic commerce, committed to the conversion of traditional modes of bill payment through collection centres and drop boxes to an online and convenient process. BillJunction has used technology to create a superior product and has harnessed the power of the Internet to deliver an easy hassle-free bill payment solution.

The application is powered by PayAway software from Infosys Technologies Limited, India's leading software company. The site has been certified by Verisign and uses a 128-bit encryption code, which provides the top-level security worldwide.

Except for the historical information contained herein, statements in this release which contain words or phrases such as "will", "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 various portals, our strategy, our growth and expansion, technological changes, cash flow projections etc. ICICI, ICICI Venture and Billjunction Payments Ltd undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.



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