Birla IT Fund Birla MNC Fund

Account Opening Form

BIRLA MUTUAL FUND

The New Millennium Offer

(For Residents / NRIs / OCBs)

The name inspires trust.

Distributor's Code

Sub-broker's Code

Sr. No.

Investor Service Center

Minimum subscription Rs 5000 and in multiples of Rs 1000 thereafter for both schemes.

8125066-10 To, The Trustee, Birla Mutual Fund

Date :

Dear Sirs, Having read and understood the contents of the Offer Document of Birla IT Fund / Birla MNC Fund, I/we hereby apply for units of Birla IT Fund / Birla MNC Fund and agree to abide by the terms, conditions, rules and regulations of the scheme. Please provide complete information as required in this form against Point No. 1 to 6 as laid out in the form in the front and rear portion. Also please read instructions carefully on page no. 10.

1. INVESTMENT DETAILS Fund

Amount invested (in Rs. / Other Currency) In Figures:

Birla IT Fund

Plan A - Dividend

Reinvestment

Mode of Payment ( Please Tick ✓ ) NRE Cheque

Plan B - Growth

Payout

In Words:

Birla MNC Fund

Local Cheque

Investment Option

FCNR Cheque

NRO Cheque

Cheque / Draft Direct Remittance

Drawn on

No.:

Bank Name:

Date:

Branch:

2. PERSONAL DETAILS First Applicant Second Applicant Third Applicant Address (Box Number is not Sufficient) Refer Inst. 4 City Telephone No.

Pin

Residence

Office

E-mail

Overseas Address (for NRIs / OCBs Only) PAN/GIR No. Refer Inst. 6 Circle/Ward/ District DD

Date of Birth

Age

MM

YY

(if the applicant is a Minor)

Name of Guardian (if the applicant is a Minor) Name of Father / Husband Status ( Please Tick ✓ ) To be filled up by First / Sole Applicant

Individuals/Proprietory Firm

Company/Body Corporate

Society

On Behalf of Minor

Partnership Firm

NRI

HUF

Trust

OCB

FII Others (Specify)

( Please Turn Over )

3. BANK DETAILS (Refer Inst. No. 7) Name of Bank / Branch Address

Account Type ( Please Tick ✓ )

NRE

FCNR

Transfer of Dividend Electronically

NRO

Current Savings

Account No.

Please transfer my dividend electronically (Please Tick 3)

Yes

No

9 Digit code of Bank and Branch (Please attach photocopy of cheque or a blank cheque issued by your bank for verifying the accuracy of the code number)

4. INVESTMENT OPTION Benefit u/s 54EA & 54EB (Refer Instruction No. 11)

Declaration This investment is to avail of the benefits under Sections 54EA/54EB of the Income Tax Act, 1961. (Please tick the option given alongside)

54EA - 3 years lock-in ...................................................... 54EB - 7 years lock-in ......................................................

Systematic Investment Plan You can invest a minimum of Rs. 500/- and in multiples of Rs. 100/- thereafter, either on a monthly or quarterly basis by providing us with at least 6 post-dated cheques (dated 1st or 10th of each month.) We would present the cheques at the dates mentioned and add units to your account (subject to the realisation of cheques) at the prices prevailing on 1st or 10th or the next working day if 1st or 10th is a holiday. You will receive a statement of account for each such transaction. Frequency (DD/MM/YY

Monthly

Instalment Value (Rs.)

Cheque Nos.

Period From

TO Quaterly

DD/MM/YY)

To

5. OTHER DETAILS For NRIs and OCBs

Nomination

The Trustees, Birla Mutual Fund

If you want the Nomination form mailed to you

Dear Sirs, I/We confirm that I am / We are Non-residents of Indian Nationality / origin and that I/We have remitted fund from abroad through approved banking channels or from funds in my / our Non-resident External / FCNR account. Yes

(for NRIs/OCBs Only)

Mode of Operation

(Please Tick 3)

(Refer Instruction No. 14)

Your investments / dis-investments and other instructions in this Account are operated on "FIRST OR SURVIVOR'' basis

6. SPECIMEN SIGNATURES

First Applicant

Second Applicant

Third Applicant

PLEASE READ INSTRUCTIONS CAREFULLY ON PAGE NO. 10 AND SUBMIT THE FORM COMPLETED IN ALL RESPECTS.

BIRLA MUTUAL FUND The name inspires trust.

MEMORANDUM CONTAINING KEY INFORMATION Sponsors Birla Global Finance Limited Apeejay, Second Floor Shahid Bhagat Singh Marg, Fort Mumbai - 400 023 Tel. No: 022-288 0660 Fax No: 022-282 6829

Sun Life (India) AMC Investments Inc. 150 King Street West Toronto, ON Canada M5H 1J9

Investment Manager

Trustee Company

Registrar

Birla Sun Life Asset Management Company Limited Ahura Center, Tower A 96 A-D Mahakali Caves Road Andheri (East), Mumbai - 400 093 Tel. Nos: 022-832 6000 / 6100 / 6200 Fax No: 022-832 4949

Birla Sun Life Trustee Company Limited Ahura Center, Tower A 96 A-D Mahakali Caves Road Andheri (East), Mumbai - 400 093 Tel. Nos: 022-832 6000 / 6100 Fax No: 022-832 4949

Karvy Consultants Limited 21, Road No. 4, Street No. 1 Banjara Hills, Hyderabad - 500 034 Tel. No: 040-331 2946 Fax No: 040-339 7883

OFFER TO CONVERT APPLE PLATINUM SHARE, AN OPEN-END GROWTH SCHEME LAUNCHED IN JANUARY 1995, TO BIRLA IT FUND, AN OPEN-END GROWTH SCHEME UNDER BIRLA MUTUAL FUND, WITH BIRLA SUN LIFE ASSET MANAGEMENT COMPANY LTD. AS THE INVESTMENT MANAGER AND BIRLA SUN LIFE TRUSTEE COMPANY LTD. AS THE TRUSTEE. OFFER TO CONVERT APPLE MIDAS FUND -THE GOLDSHARE (AN OPEN-END GROWTH SCHEME LAUNCHED IN APRIL 1994), TO BIRLA MNC FUND, AN OPEN-END GROWTH SCHEME UNDER BIRLA MUTUAL FUND, WITH BIRLA SUN LIFE ASSET MANAGEMENT COMPANY LTD. AS THE INVESTMENT MANAGER AND BIRLA SUN LIFE TRUSTEE COMPANY LTD. AS THE TRUSTEE. This memorandum containing key information sets forth concisely the information about the scheme that a prospective investor should know before investing. The memorandum should be retained for future reference. For further details, prospective investors should refer to the respective offer document. Due Diligence by the Asset Management Company: The AMC has excercised due diligence while preparing the Offer Document and has submitted a Due Diligence Certificate to SEBI in the format prescribed by SEBI. Investors may refer to the respective Offer Document for the contents of the due diligence certificate. Disclaimer Clause: The particulars of the schemes have been prepared in accordance with Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended till date, and filed with the Securities and Exchange Board of India (SEBI). The units being offered for public subscription have not been approved or disapproved by SEBI, nor has SEBI certified the accuracy or adequacy of the Offer Documents.

SCHEME SUMMARY Birla IT Fund

Birla MNC Fund

Investment Plans

Plan A- Dividend Plan l Payout Option l Reinvestment Option Plan B- Growth Plan

Plan A- Dividend Plan l Payout Option l Reinvestment Option Plan B- Growth Plan

Allotment

Full allotment to all valid applications.

Full allotment to all valid applications.

Subscription Price*

At daily NAV plus subscription load (if any)

At daily NAV plus subscription load (if any)

Subscription Amount*

Minimum subscription amount Rs. 5,000/- and in multiples of Rs. 1,000/- thereafter. No upper limit

Minimum subscription amount Rs. 5 ,000/- and in multiples of Rs. 1,000/- thereafter. No upper limit.

Redemption Price*

At daily NAV less redemption load (if any). Existing investments at the time of conversion will not be charged any load on redemption.

At daily NAV less redemption load (if any). Existing investments at the time of conversion will not be charged any load on redemption.

Load Structure*

On any given day the difference between the redemption price and the subscription price of the units redeemed or issued on that day shall not exceed 7% of the subscription price

On any given day the difference between the redemption price and the subscription price of the units redeemed or issued on that day shall not exceed 7% of the subscription price.

Switch Over*

Units issued under the Scheme can be transferred to the other domestic schemes managed by BSLAMC as per the load structure of the respective schemes.

Units issued under the Scheme can be transferred to the other domestic schemes managed by BSLAMC as per the load structure of the respective schemes.

* Please check for the current applicable load structure with offices of Birla Mutual Fund. Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance that the objectives of the Mutual Fund will be achieved. As with any investment in securities, the NAV of the Units issued under the Schemes can go up or down depending on the factors and forces affecting capital markets. Past performance of the Sponsor/Investment Manager/Mutual Fund does not indicate the future performance of the Schemes and may not necessarily provide a basis of comparison with other investments. Birla IT Fund and Birla MNC are the names of the Schemes and do not in any manner indicate either the quality of the Schemes or their future prospects or returns. The Sponsors are not responsible for any loss resulting from the operation of the Schemes beyond the initial contribution of Rs. 1,00,000 towards setting up the Mutual Fund and such other accertions and additions to the same. The NAVs of the Schemes may be affected by changes in the general level of interest rates and trading volumes, settlement periods and transfer procedures. The liquidity of the Scheme's investments is inherently restricted by trading volumes and settlement periods. In the event of an inordinately large number of redemptions or of a restructuring of the Scheme's investment portfolio, there may be delays in the redemption of units. Please refer sections titled "Extraordinary Circumstances" and "Risk Factors and Special Considerations" in the Offer Documents of respective schemes.

Birla IT Fund / Birla MNC Fund 1.

1.1 1.1.a 1.1.b

1.2 1.2.a

BIRLA MUTUAL FUND The name inspires trust

FUNDAMENTAL ATTRIBUTES

INVESTMENT OBJECTIVE Birla IT Fund The objective of the Scheme is to achieve superior long-term growth of capital through investment in businesses related directly or indirectly to information technology. Birla MNCFund The objective of the Scheme is to achieve long-term growth of capital at relatively moderate levels of risk by making investments in securities of multi-national companies through a research-based investment approach.

2.

3. 4. 5.

ASSET ALLOCATION AND INVESTMENT POLICIES Birla IT Fund The Fund is a growth scheme and aims primarily at capital appreciation. In order to reduce risk, investment will be made after rigorous research and with a clear understanding of these opportunities. A proper balance would be maintained between existing and emerging opportunities so as to achieve healthy current and future returns.

6.

Normally at least 80% of the funds will be invested in equities or related instruments. The residual amount would be invested in debt and / or money market instruments, encompassing both short-term and long-term opportunities. In a situation of extreme volatility in equity markets, the equity allocation may be reduced below 80%, in favour of debt instruments, money market instruments or cash.

7. 8.

Short-term debt considerations for this open-end scheme include maintaining an adequate float to meet anticipated levels of redemption, expenses and other liquidity needs. A portion of funds may also be kept in cash or cash equivalents.

9.

Under normal circumstances, the asset allocation shall be as follows:

Equity and Related Instruments Debt and Money Market Instruments 1.2.b

Asset Allocation

Risk Profile

10.

Up to 100% Up to 20%

Medium to High Low to Medium

11.

12.

Birla MNC Fund Normally at least 80% of the funds will be invested in equities or related instruments of such companies. The residual amount would be invested in debt and / or money market instruments of MNCs and / or Indian companies or cash. In a situation of extreme volatility in equity markets, the equity allocation may be reduced below 80%, in favour of debt and money market instruments or cash.

13.

Short-term debt considerations for this open-end scheme include maintaining an adequate float to meet anticipated levels of redemptions, expenses and other liquidity needs. A portion of funds may also be kept in cash or cash equivalents.

14.

Investments will be in listed securities from all Indian Stock Exchanges. Investments may also be made in unlisted transferable securities, up to a maximum of 10% of the net assets of the Scheme. The securities would cover secondary market purchases, Initial Public Offers (IPOs), other public offers, placements, rights offers, negotiated deals, etc. Investments may also be made in companies listed on international exchanges, whenever the Indian regulations permit.

The Trustee can alter these limitations from time to time to the extent the SEBI Regulations change, so as to permit the Scheme to make its investments in the full spectrum of permitted investments to achieve its investment objectives. All investments of the Scheme will be made in accordance with the SEBI (Mutual Funds) Regulations, 1996, including Schedule VII thereof, and the fundamental attributes of the Scheme.

Investment policies of the fund shall reflect restrictions for mutual fund investments established by SEBI. In addition, internal prudential parameters will be observed, in order to ensure appropriate risk-return profile of the Scheme.

1.5

POLICY FOR INTER-SCHEME TRANSFERS Whenever assets are transferred from other schemes managed by BSLAMC, into Birla IT Fund, or Birla MNC Fund, they shall be done in a fair and just manner. Equity shares will be transferred at their last traded prices on the stock exchange where they are actively traded. Debt instruments which are actively traded on any of the stock exchanges, will also be priced on the last traded market prices. Unquoted / non-traded debt instruments will be priced as per the prevailing yield-to-maturity on similar debt investments. Other unquoted / non-traded securities will be priced on the basis of quotations received from brokers.

1.6 1.6.1

DISTRIBUTION POLICY Birla IT Fund and Birla MNC Fund Under the Dividend Plan, regular dividends will be declared out of the distributable surplus in accordance with the SEBI Regulations. It should be noted that actual distribution of dividends and the frequency of such distribution will be entirely at the discretion of BSLTC. Full extent of the realised gains may not be distributed as dividends. During years when the performance does not leave scope for distribution, dividends may not be declared. BSLTC, however, has a right to pay dividends from past income accruals. Those investors whose names appear in the register of unit holders as on the record date will be entitled for dividend. The record date will be declared through newspaper advertisement / other circulations. The NAV of the Scheme will be adjusted to the extent of the dividend after the record date.

Under normal circumstances, the asset allocation shall be as follows : Asset Allocation Equity and Related Instruments Debt and Money Market Instruments 1.3

Up to 100% Up to 20%

Risk Profile Medium to High Low to Medium

STOCK SELECTION STRATEGY The investment emphasis of the Scheme would be on identifying companies with competent, honest and visionary managements and with sustained high-growth prospects. Past performance, wherever applicable, will be taken into account. Essentially, the focus would be on long-term fundamentally driven values. However, short-term opportunities would also be seized, provided underlying values support these opportunities. Liquidity will be a very important consideration for investment decisions, due to the potential of large redemptions inherent in open-end schemes. As a result, a reasonable proportion of the Scheme's equity investments will be made in relatively liquid large stocks, including established blue-chip and emerging blue-chip stocks. In addition, as far as supported by liquidity considerations, investments in small and medium capitalisation growth stocks will also be emphasised in expectation of higher returns.

1.4

money markets or the capital markets, or in privately placed debentures or securitised debts. Debt instruments in which the Scheme invests should be rated as investment grade by a credit rating agency. In case debt instrument is not rated, the specific approval of the board of Directors of the AMC shall be obtained prior to investment. The AMC under all its schemes shall not own more than ten per cent of any company's paid up capital carrying voting rights. No term loans for any purpose will be advanced by the Scheme. Transfer of investments from one Scheme to another Scheme, including this Scheme, under the management of BSLAMC shall be allowed only if : a) Such transfers are made at the prevailing market price for quoted securities on a spot basis, and b) The Securities so transferred shall be in conformity with the investment objectives of the scheme to which such transfer has been made. The Scheme will not enter into any transaction which exposes it to unlimited liabilities or results in the encumbering of its assets in any way so as to expose them to unlimited liability. The Scheme may lend securities in accordance with the Stock Lending Scheme of SEBI. The Scheme may invest in another scheme under the same asset management company or any other mutual fund without charging any fees, provided that aggregate inter-scheme investment made by all schemes under the same management or in schemes under the management of any other asset management company shall not exceed 5% of the net asset value of the mutual fund. The Scheme shall buy and sell securities on the basis of deliveries and shall in not engage in short sale or carry forward transactions except as and when permitted by RBI / SEBI in this regard. The Scheme shall be allowed to borrow up to a maximum of 20% of net assets of the Scheme for a maximum period of 6 months only for the purpose of meeting redemptions. Pending deployment of funds in terms of the investment objective of the Scheme, the funds of the Scheme may be invested in short term deposits in scheduled commercial banks. The Scheme may also use various hedging and derivative products from time to time, as are available and permitted by SEBI, in an attempt to protect and enhance the interests of the unit holders at all times. Derivatives are traded instruments whose performance is derived from that of an underlying asset. The Scheme shall not invest in any unlisted security of the group / associate or group company of the sponsor, and in any security being privately placed by an associate / group company of the Sponsor. However, the Fund may invest in such securities through the Secondary Market if such securities are listed. The Scheme shall not invest in listed securities of group companies of the sponsor in excess of 25% or such other percentage limit on the net assets of the Fund, as specified by SEBI Regulations from time to time.

BSLTC, at its discretion, may issue bonus units out of the distributable surplus in accordance with the SEBI Regulations. Those investors whose names appear in the register of unit holders as on the record date will be entitled for bonus units. The record date will be declared through newspaper advertisement / other circulations. The NAV of the Scheme will be adjusted to the extent of bonus units issued after the record date.

INVESTMENT LIMITATIONS The following investment limitations are presently applicable to the Scheme. 1. All of the Scheme's assets will be invested in transferable securities, whether in the

2

Birla IT Fund / Birla MNC Fund 1.7

BIRLA MUTUAL FUND The name inspires trust

schemewise, are estimated as follows:

RISK FACTORS AND SPECIAL CONSIDERATIONS Investing in the Scheme involves certain risks and considerations generally associated with making investments in securities. There can be no assurance that the Scheme can achieve its objectives. The value of the Scheme's investments may be affected generally by factors affecting capital markets such as price and volume volatility in the stock markets, interest rates, currency exchange rates, changes in Government policies, taxation, political, or economic developments and closure of stock exchanges. The NAV of the scheme may fluctuate and the value of the Scheme's units may go up or down. Past performance of Mutual Fund schemes managed by the BSLAMC is not necessarily indicative of future performance of the Scheme.

Expense

IT

MNC

Investment Management fees Trustee fees Custodial fees Registrar's fees and related expenses Marketing and Selling Expenses Total Annual Recurring Expenses

1.25 0.05 0.55 0.20 0.45 2.50

1.25 0.05 0.55 0.20 0.45 2.50

The investment management fees charged by BSLAMC shall be 1.25 percent of the average weekly net assets for assets upto Rs.100 crores, and 1.00 percent of the average weekly net assets on the balance amount above Rs.100 crores.

The Scheme may also use various derivatives and hedging products from time to time, as would be available and permitted by SEBI, in an attempt to protect the value of the portfolio and enhance unit holders' interest. In case the Scheme utilizes any derivatives under the SEBI Regulations, the Scheme may, in certain situations, be exposed to price risks. 1.8

1.9

1.10

The trustee company, BSLTC, shall be entitled to a fee of Rs. 5 lakhs per annum apportioned over all the schemes of BMF. BSLAMC may, from time to time elect to bear expenses of the Scheme in its discretion.

STOCK LENDING BY THE SCHEME The Scheme may undertake securities lending as per the guidelines released by SEBI and subsequent modifications thereto. Stock lending means the lending of stock to another person or entity for a fixed period of time, at a negotiated compensation. The borrower will return the securities lent on expiry of the stipulated period.

The above estimates have been made in good faith as per the information available to the Investment Manager and are subject to change as per actuals. The Fund will strive to reduce the level of these expenses so as to keep them well within the limits prescribed by SEBI from time to time. The purpose of the above table is to assist the investor in understanding the various costs and expenses that an investor in the Scheme will bear directly or indirectly. Please also refer Investors' Transaction Load in the respective offer documents.

PORTFOLIO TURNOVER Portfolio turnover will depend upon the circumstances prevalent at any time. Under normal circumstances the portfolio turnover is not likely to exceed 200%. This will exclude the turnover caused on account of : l investing the initial subscription, l subscriptions and redemptions undertaken by the unit holders. Purchase and sale of securities attract transaction costs of the nature of brokerage, stamp duty, custodian transaction charges, etc. The above limit of portfolio turnover is essential to regularly explore trading opportunities to optimise returns for the Scheme and enable portfolio restructuring when required.

2.2. 2.2.1 Scheme

Actuals per Audited Accounts Rs. in Lacs

% of Amt. mobilised

6%

476.53

8.29%*

6%

302.97

5.92%

*The funds mobilised under the scheme were lower than expected resulting in a higher percentage of initial issue expenses. However, only 6% of the amount mobilised were charged to the Scheme as initial issue expenses and the excess 2.29% was borne by AAML, the asset management company for AMF.

2.2.2

Birla Mutual Fund

Scheme f

Birla Advantage Fund Birla Income Plus Birla Cash Plus Birla Taxplan 98 Birla Taxplan Birla Balance Birla Gilt Plus

Amount Raised by Scheme at Launch

SEBI Limit of Expenses

Expenses Borne by Scheme

Rs. 162.24 cr. Rs. 56.23 cr. Rs. 8.99 cr. Rs. 1.94 cr. Rs. 59,000 Rs. 340.33 cr. Rs. 9.90 cr.

Rs. 9.73 cr. Rs. 3.37 cr. Rs. 0.54 cr. Rs. 0.12 cr. Rs. 3,540 Rs. 20.42 cr. Rs. 0.59 cr.

Rs. 9.73 cr. Rs. 3.37 cr. Borne by AMC Borne by AMC Borne by AMC Borne by AMC* Borne by AMC*

* The initial issue expenses of Rs. 2.92 cr. for Birla Balance and Rs. 0.03 cr. for Birla Gilt Plus have been borne by AMC. AMC Shall recover these expenses by way of charging addtional asset management fees within the provisions of SEBI regulations.

The BSLAMC may, where necessary, appoint other intermediaries of repute as advisors, sub-custodians etc. for managing and administering such investments. The appointment of such intermediaries shall be in accordance with the applicable requirements of SEBI and within the permissible limits of expenses. The fees and expenses would illustratively include, besides the investment management fees, custody fees and costs, fees of appointed advisors and sub-managers, transaction costs, and overseas regulatory costs.

3 3.1 3.1.1

CONDENSED FINANCIAL INFORMATION APPLE MUTUAL FUND MIDAS FUND - THE GOLD SHARE

COMPUTATION OF NET ASSET VALUE The NAV shall be calculated in accordance with the following formula, or such other formula as may be prescribed by SEBI from time to time. NAV at the beginning of the period (Rs) Net Income Per Unit (Rs)* Dividend Per Unit (Rs) Transfer to Reserves per unit (in Rs.) NAV per unit at the end of the year (in Rs.) Annualised Return since inception for the period (%)2 Net Assets at end of period (in Rs. crores) Ratio of Recurring Exps to Net Assets (%)

Market/Fair Value of Scheme's Investments + Receivables + Accrued Income + Other Assets - Accrued Expenses - Payables - Other Liabilities ...................Number of Units Outstanding The NAV will be calculated on all working days. The calculation and the periodicity of announcement of the NAV, redemption and subscription prices would in accordance with the SEBI Regulations and such guidelines / regulations as may be issued by SEBI from time to time. 2 2.1

Estimated as per offer document (% of Amt. mobilised)

% of Amount Mobilised Apple Midas Fund The Goldshare (launched in April 1994) Apple Platinum Share (launched in January 1995)

OFFSHORE INVESTMENTS RBI had announced in the October 1997 credit policy that SEBI registered Indian fund managers, including Mutual Funds, would be permitted to invest in overseas securities, initially, within an overall limit of US$ 500 million and a ceiling of US$ 50 million of an individual mutual fund and within such other limits as announced by RBI from time to time. Following the announcement, SEBI had set up a committee to draft guidelines for overseas investments. It is the Investment Manager's belief that overseas securities offer new investment and portfolio diversification opportunities into multi-market and multi-currency products. However, such investments also entail additional risks. Such investment opportunities may be pursued by BSLAMC provided they are considered appropriate in terms of the overall investment objectives of the scheme. The Scheme may then, if necessary, seek permission from SEBI and RBI to invest abroad in accordance with the investment objectives of the Scheme and in accordance with any guidelines issued by SEBI / RBI from time to time. Since the Scheme would invest only partially in overseas securities, there may not be readily available and widely accepted benchmarks to measure performance of the Scheme. To manage risks associated with foreign currency and interest rate exposure, the Scheme may use derivatives for efficient portfolio management including hedging and in accordance with conditions as may be stipulated by SEBI / RBI from time to time.

1.11

INITIAL ISSUE EXPENSES Apple Mutual Fund

FEES AND EXPENSES ON AN ONGOING BASIS The ongoing fees and expenses of operating the Scheme on an annual basis, expressed as a percentage of the amount of the Scheme's average weekly net assets,

NAV per unit of August 31, 1999 (in Rs.) Annualised Return since inception to Aug. 31, 1999 (%)2

3

Rs in Crores

For the year ended 1.4.98 to 31.3.99

For the year ended 1.4.97 to 31.3.98

For the year ended 1.4.96 to 31.3.97

For the period ended 1.4.95 to 31.3 .96

8.91 7.60 15.87

6.55 2.24 8.91

8.04 -1.61 6.55

9.41 -1.48 8.04

10.21 50.95 2.36

-3.06 51.20 2.50

-14.26 37.67 2.94

-11.72 46.22 2.70

17.46 13.18

Birla IT Fund / Birla MNC Fund 3.1.2

APPLE PLATINUM SHARE

NAV at the beginning of the period (Rs) Net Income Per Unit (Rs)* Dividend Per Unit (Rs) Transfer to Reserves per unit (in Rs.) NAV per unit at the end of the year (in Rs.) Annualised Return since inception for the period (%)2 Net Assets at end of period (in Rs. crores) Ratio of Recurring Exps to Net Assets (%)

For the year ended 1.4.98 to 31.3.99

For the year ended 1.4.97 to 31.3.98

For the year ended 1.4.96 to 31.3.97

For the period ended 1.4.95 to 31.3 .96

6.88 7.64 11.57

5.09 1.57 6.73

7.10 -2.22 5.09

9.31 -1.92 7.10

3.64 14.26 2.50

-12.06 16.63 2.50

-76.11 13.05 3.00

-27.18 18.39 2.18

NAV per unit of August 31, 1999 (in Rs.) Annualised Return since inception to Aug. 31, 1999 (%)2

For the year ended 1.4.97 to 31.3.98

11.93 4.41 0.55 26.67 27.04 219.88 2.48

9.76 -0.02 -0.13 11.93 5.86 118.30 2.44

10.56 -0.67 0.00 9.76 -1.15 101.40 2.44

NAV per unit of August 31, 1999 (in Rs.) Annualised Return since inception to Aug. 31, 1999 (%)2

9.40 0.95 0.00 10.56 5.08 136.6 2.74

10.32 0.94 1.40 0.05 10.20 13.98 79.53 1.96

For the For the year period ended ended 1.4.96 to 9.10.95 to 31.3.97 31.3.96 10.21 2.64 2.36# 1.04 10.32 13.45 27.15 1.87

NAV at the beginning of the period (Rs) Net Income Per Unit (Rs)* Dividend Per Unit (Rs) Transfer from reserves per unit (Rs) NAV at the end of the Period (Rs) Annualised Returns (%)** Net Assets at the end of the Period (Rs) Ratio of recurring exps. to Net Assets (%) NAV per unit of August 31, 1999 (in Rs.) Annualised Return since inception to Aug. 31, 1999 (%)2

12.00 2.78 1.25 13.82 14.19 437.72 1.69

12.75

9.66

80.12

27.50*

The Directors of BSLTC are :

9.40 0.75 -

10.21 4.86 11.38 1.88

Mr. BANSI S. MEHTA Chairman 11/13, Botawala Building Horniman Circle, Mumbai 400 023. Chartered Accountant

Other Directorships: Allied Photographics India Ltd. Atul Products Ltd. Bharat Bijlee Ltd. Century Enka Ltd. CEAT Ltd. Dunlop India Ltd. Global Aviation Services Pvt. Ltd. Housing Development Finance Corp. Ltd. IL&FS Venture Corp. Ltd. ICRA Ltd. Morarjee Goculdas Spinning & Weaving Co. Ltd. Mangalore Refineries & Petrochemicals Ltd. Octavius Tea & Industries Ltd. Procter & Gamble Ltd. Varun Shipping Co. Ltd. Skoda (India) Pvt. Ltd. Skoda (India) Engineering Pvt. Ltd. Sudarshan Chemical Industries Ltd. The Dawn Mills Co. Ltd. Vinyl Chemicals (India) Ltd.

Mr. B.N. PURANMALKA* 61, Sakhar Bhavan Nariman Point, Mumbai 400 021. Vice ChairmanGroup Financial Services Aditya Birla Group

Other Directorships: Fertilisers Association of India Birla Management Centre Pvt. Ltd. B.N.P. Investment Pvt. Ltd. Birla Global Finance Ltd. Birla Marlin Securities Ltd. Lucknow Finance Co. Ltd. India Advantage Fund Ltd., Mauritius Bina Power Supply Co. Ltd. M/s Dhanvaibhav Fintrade Pvt. Ltd. M/s Graphfort Finance & Investments Pvt. Ltd. Dahej Harbour & Infrastructure Ltd.

For the For the year period ended ended 1.4.96 to 9.10.95 to 31.3.97 31.3.96 10.21 1.74 12.00 13.51 191.03 1.76

23.05

THE TRUSTEE COMPANY (THE TRUSTEE) Birla Sun Life Trustee Company Ltd. (BSLTC) is a company incorporated with limited liability under the Companies Act, 1956.

Rs in Crores

13.82 3.48 2.21 15.56 13.72 918.17 1.87

12.258

4.3

13.47

For the year ended 1.4.97 to 31.3.98

10.00 0.00 0.05 10.10 1.00# 5.04 2.08

THE SPONSORS The sponsors of Birla Mutual Fund are Birla Global Finance Ltd. and Sun Life (India) AMC Investments Inc. (a company governed by the laws of Canada) which is a whollyowned subsidiary of Sun Life Assurance Company of Canada. Sun Life (India) AMC Investments Inc. is a deemed sponsor under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.

9.97

For the year ended 1.4.98 to 31.3.99

10.00 1.29 20.39 103.90 3.97 2.39

4.2

# Rs. 1.56 for the period 9.10.95 to 30.9.96 and Rs. 0.80 for the period 1.10.96 to 31.3.97

3.2.3 BIRLA INCOME PLUS - PLAN B

10.000 0.820 -1.656 10.820 10.50 17.44 1.24

FUND ORGANISATION AND MANAGEMENT THE FUND Birla Mutual Fund has been constituted as a trust under the provisions of the Indian Trusts Act, 1882 (2 of 1882) and registered with SEBI bearing registration no. MF/ 020/94/8, dated December 23, 1994.

Rs in Crores

10.20 0.77 1.20 -0.05 10.07 13.56 128.52 1.95

10.820 1.068 0.407 11.783 9.60 50.59 1.54

For the For the year period ended ended 1.4.98 to 15.2.99 to 31.3.99 31.3.99

4 4.1

30.80

For the year ended 1.4.97 to 31.3.98

For the year ended 9.6.97 to 31.3.98

BIRLA TAXPLAN

1. Excluding unrealised appreciation in value of investments 2. Annualised returns reported in the table above are calculated with the inception NAV taken as Rs. 10, the face or par value of the Unit at the time of allotment. Any dividends paid by the scheme have been reinvested in units of the scheme at the ex-dividend NAV for the purposes of calculating the annualised returns.

31.65

For the year ended 1.4.98 to 31.3.99

For the year ended 1.4.98 to 31.3.99

BIRLA TAXPLAN 98

* Returns reported are total returns and are not annualised as they pertain to a period of less than one Year.

For the For the year period ended ended 1.4.96 to 24.2.95 to 31.3.97 31.3.96

BIRLA INCOME PLUS - PLAN A

NAV at the beginning of the period (Rs) Net Income Per Unit (Rs)* Dividend Per Unit (Rs) Transfer from reserves per unit (Rs) NAV at the end of the Period (Rs) Annualised Returns (%)** Net Assets at the end of the Period (Rs) Ratio of recurring exps. to Net Assets (%)

NAV at the beginning of the period (Rs) Net Income Per Unit (Rs)* Dividend Per Unit (Rs) Transfer from reserves per unit (Rs) NAV at the end of the Period (Rs) Annualised Returns (%)** Net Assets at the end of the Period (Rs) Ratio of recurring exps. to Net Assets (%)

Rs in Crores For the year ended 1.4.98 to 31.3.99

OTHER SCHEMES BIRLA CASH PLUS

6.68

NAV per unit of August 31, 1999 (in Rs.) Annualised Return since inception to Aug. 31, 1999 (%)2 3.2.2

3.3

12.60

BIRLA MUTUAL FUND Birla Advantage Fund

NAV at the beginning of the period (Rs) Net Income Per Unit (Rs)* Dividend Per Unit (Rs) Transfer from reserves per unit (Rs) NAV at the end of the Period (Rs) Annualised Returns (%) Net Assets at the end of the Period (Rs) Ratio of recurring exps. to Net Assets (%)

The name inspires trust

Rs in Crores

NAV per unit of August 31, 1999 (in Rs.) Annualised Return since inception to Aug. 31, 1999 (%)2 3.2 3.2.1

BIRLA MUTUAL FUND

9.40 0.75 10.21 4.86 49.25 1.88

16.37 13.63

4

Birla IT Fund / Birla MNC Fund Mr. M.M. BHAGAT 13, Kabir Road, Calcutta 700 026. Financial Consultant

BIRLA MUTUAL FUND The name inspires trust

Other Directorships: V.C.K. Share & Stock Broking Services Pvt. Ltd. Dugar Housing Development Finance Co. Ltd. Skeleton Pharma Ltd. Kothari Petrochemicals Ltd. Hindalco Industries Ltd. Zenith Exports Ltd.

4.8

THE CUSTODIANS IIT Corporate Services Ltd., located at IIT House, Off M. Vasanji Road, Opp. Vazir Glass, Near J.B. Nagar, Andheri (East), Mumbai 400 059, has been appointed as the custodian of the securities that are bought and sold under the Scheme. The custodian is registered with SEBI under registration number IN/CUS/007. The salient features of the custodial agreement and the responsibilities of the custodian include : l Keeping in safe custody the securities and such other instruments belonging to the Scheme. l Ensuring the smooth inflow / outflow of securities and such other instruments as and when necessary in the best interests of the investors. l Ensuring that the benefits due to the holdings are recovered. l Responsibility for loss or damage to the securities due to negligence on its part or on the part of its approved agents.

4.9

THE REGISTRAR BSLAMC has appointed Karvy Consultants Ltd. to act as Registrar and Transfer Agents ("The Registrar") to the Scheme. The Registrar is registered with SEBI under registration number INR000000221. BSLAMC and the Trustee have satisfied themselves, after undertaking appropriate due diligence measures, that the Registrar is able to provide the services required and has adequate facilities, including systems facilities and back up, to process applications and despatch Account Statements/Unit certificates to Unit holders within the time limits prescribed in the SEBI Regulations and also sufficient capacity to handle investor complaints.

5.

UNITS & THE OFFER The offer is invited for subscription to Birla IT Fund and Birla MNC Fund on an ongoing basis.

5.1

THE PLANS Investors can choose between the Dividend and Growth plans. Separate NAVs will be calculated for each plan. The investment policies are stated in detail in the section titled "Investment Objectives and Policies".

5.1.1

Dividend Plan Under the Dividend Plan, regular dividends will be declared. The Scheme envisages declaring dividends in the months of March and September. BSLTC may also declare interim dividends. It should be noted that actual distribution of dividends and the frequency of such distribution indicated are provisional and will be entirely at the discretion of BSLTC. Those investors whose names appear in the register of unit holders as on the record date will be entitled for dividend. The record date will be declared through newspaper advertisement / other circulations. Investors may also choose to reinvest the dividends distributed under this Plan instead of receiving dividend in cash. Such reinvestment will be done at NAV related prices on the next working day, immediately after the record date.

5.1.2

Growth Plan Under the Growth Plan, the returns come to investors in the form of capital appreciation as reflected in the NAVs. At the time of redemption, investors can avail of the Long Term Capital Gains Tax on the capital appreciation after taking into account the benefits of indexation for investments over 12 months. All investors should study this Offer Document carefully in its entirety and consult their legal, tax, and investment advisors to determine possible legal, tax, financial or other consequences of subscribing to, purchasing, or holding units under the scheme, before making an application for the units.

6 6.1

INVESTING IN BIRLA IT FUND AND BIRLA MNC FUND WHO CAN INVEST The following persons (subject, wherever relevant, to purchase of units being permitted under their respective constitutions and relevant state regulations) are eligible to invest in these units: l Resident adult individuals, either singly or jointly (not exceeding three), l Minors through parent/lawful guardian, l Karta of Hindu Undivided Family (HUF), l Companies, Bodies Corporate, Trusts (acting through trustees) and Co-operative Societies, l Banks and Financial Institutions, l Religious and Charitable trusts, who are eligible to invest, l NRIs, OCBs, and persons of Indian origin residing abroad, on a full repatriation basis, l Army, Navy, Air Force, Paramilitary Funds, l Foreign Institutional Investors registered with SEBI.

MR. GURCHARAN DAS 124 Jor Bagh, New Delhi. Consultant * Director(s) is/are associated with the sponsor or its associates.

4.4

TRUSTEESHIP FEES The trusteeship fees payable to the trustees shall be as detailed in the Section titled "Fees and Expenses" as above.

4.5

SUBSTANTIAL PROVISIONS OF THE TRUST DEED 1. The Trustee shall ensure before the launch of any scheme that the asset management company has:a) systems in place for its back office, dealing room and accounting; b) appointed all key personnel including fund manager(s) for the scheme(s) and submitted their bio-data which shall contain the educational qualifications, past experience in the securities market to the Trustees, within fifteen days of their appointment; c) appointed auditors to audit its accounts; d) appointed a compliance officer to comply with regulatory requirement and to redress investor grievances; e) appointed registrars and laid down parameters for their supervision; f) prepared a compliance manual and designed internal control mechanisms including internal audit systems; g) specified norms for empanelment of brokers and marketing agents. 2. The Trustee shall obtain the consent of the unit holders of the Scheme: a) When the Trustee is required to do so by SEBI in the interests of the unit holders; or b) Upon the request of three-fourths of the unit holders of any Scheme under the Mutual Fund; or c) If a majority of the directors of the Trustee company decide to wind up the Scheme or prematurely redeem the Units; or d) When a change in the fundamental attributes (viz. the investment objective and the terms of the scheme) of the Scheme or the Trust or fees and expenses payable or any other change which would modify the Scheme or affect the interest of the unit holders is proposed to be carried out. No change shall be carried out unless three fourths of the unit holders have given their consent and the unit holders who do not give their consent are allowed to redeem their holdings in the Scheme. The procedure for seeking approval of the unit holders under the specified circumstances will be as prescribed by SEBI. 3. The Trustee shall ensure that the Asset Management Company has not given any undue or unfair advantage to any associates or dealt with any of the associates of the Asset Management Company in any manner detrimental to the interest of the unit holders. 4. The Trustee shall be accountable for and be the custodian of the property of the respective scheme and shall hold the same in trust for the benefit of the unit holders in accordance with the SEBI (Mutual Funds) Regulations, 1996 and the provisions of the trust deed.

4.6

AUDITORS OF THE SCHEMES Lodha & Company Karim Chambers, 48 Ambalal Doshi Marg, Fort, Mumbai - 400 023.

4.7

THE INVESTMENT MANAGER Birla Sun Life Asset Management Company Ltd. (BSLAMC), a joint venture between the Aditya Birla Group and the Sun Life Assurance Company of Canada (through its wholly-owned subsidiary Sun Life (India) AMC Investments Inc. has been appointed as the Asset Management Company of Birla Mutual Fund. The Directors of BSLAMC are : Mr. K.M. Birla* Chairman Industry House 159, Churchgate Reclamation Mumbai 400 020. Industrialist Educationalist Mr. R. Ravimohan Nirlon House, 2nd Floor, 254B, Annie Besant Road, Worli, Mumbai 400 025. Managing Director - CRISIL

Mr. Ashok Goenka Room 2BC-83 School of Accountancy & Business Nanyang Technological Univercity Nanyang Avenue, Singapore Mr. S.K. Mitra* Apeejay, Second Floor, Shahid Bhagatsingh Marg Mumbai 400 023. Director - Group Financial Services, Aditya Birla Group and Managing DirectorBirla Global Finance Ltd.

The Trustee may, in its absolute discretion, accept an application from an unincorporated body of persons / trusts. The Trustee is entitled, in its sole and absolute discretion to reject any application. BSLAMC may also invest its own funds in the Scheme. Investment management fees will not be charged on such investments. Such investments will be as per regulation 24(3) of SEBI (Mutual Funds) Regulations, 1996.

* Director(s) is/are associated with the sponsor or its associates.

5

Birla IT Fund / Birla MNC Fund

BIRLA MUTUAL FUND The name inspires trust

Birla IT Fund and Birla MNC Fund have not been and will not be registered in any country outside India. Investors who are not residents of India should refer to the rules and regulations of their respective countries of domicile before making any investments in the Scheme. 6.2 6.2.1

HOW TO INVEST Application Forms Application forms are available with approved brokers/agents to BMF, offices of BSLAMC and collection centres of the Registrar or AMC.

6.2.2

Subscription Amount Investors can open an account by investing a minimum amount of Rs. 5,000. Additional sums may be invested on any working day in multiples of Rs. 1,000. The minimum amount required to be invested on opening the account or subsequently may be changed and announced by BSLAMC from time to time.

6.2.3

Subscription Price For on-going subscriptions, units will be offered to investors at NAV based prices. Subscription requests received on any working day during the transaction time will be priced at the NAV of that day plus a subscription load of up to a maximum of 6%, as determined by BSLAMC from time to time. Purchase requests received after this time will be treated as having been received on the next working day. The NAV of the Scheme will be calculated on all working days. The introduction of the subscription load will be on a prospective basis and will be applicable only to investments that have been made after the introduction of subscription load. Further, on any given day the difference between the redemption price and the subscription price of the units redeemed or issued on that day shall not exceed 7% of the subscription price

6.2.4

l

The units can be redeemed (sold back to the Fund) on any working day. The redemption request in the prescribed form should be submitted at any of the specified investor service centres, or mailed to Karvy Consultants Ltd. at their office at 46, Road No 4, Street No. 1, Banjara Hills, Hyderabad 500 034. The redemption request can be made for 100 Units or Rs. 1,000 and any number of Units or amount thereafter. The investor can also withdraw the entire balance in the account and close the account. Birla Mutual Fund may close an investor's account if the balance falls below Rs. 1,000 due to redemptions. In the event of death of the first named unit holder, the Units can be offered for redemption by the joint holders/nominee/legal heirs of the unit holder. Under normal circumstances, redemption cheques shall be despatched within five working days from the date of receipt of the redemption request at any of the investor service centres. A fresh Account Statement will also be sent to the Unit holders reflecting the new balance in his account.

Mode of Payment The application forms duly completed along with the subscription amount in cheque / demand drafts payable locally are to be submitted at any of the service centres of BSLAMC. Cheques / demand drafts should be drawn in favour of "Birla IT Fund" or "Birla MNC Fund". Cheques drawn on locations other than the cities where the Investor Services Centres are located will not be accepted.

6.6.1

Redemption Price Redemption requests received on any working day during the transaction time will be priced at the NAV of that day less a redemption load of up to a maximum of 6%, as determined by BSLAMC from time to time. Requests received after this time will be treated as having been received on the next working day. The introduction of the redemption load will be on a prospective basis and will be applicable only to investments that have been made after the introduction of redemption load. Further, on any given day the difference between the redemption price and the subscription price of the units redeemed or issued on that day shall not exceed 7% of the subscription price. Existing investments at the time of conversion will not be charged any load on redemption.

6.7

REGULAR WITHDRAWAL PLAN (RWP) Investors can fulfill their regular income needs by giving standing instructions about the amount to be withdrawn every month or quarter. While a fixed sum will be paid through post-dated cheques, the remaining part of the investment will continue to earn returns. This Plan is available only to the investors of Growth Plan (Plan B). Withdrawals through the RWP are effected as of the first working day of each month. The withdrawal should be for a minimum amount of Rs. 500. No redemption will be permitted in the Plan while it is in operation. Investors need to give standing instructions for a minimum of six months at a time. The withdrawal amount can be modified or the investor can terminate the RWP by giving one month's notice.

6.8

SERVICE ENHANCEMENTS BSLAMC shall endeavour to offer to the investors the benefit accruing from technology upgradation by offering new features, product add-ons, service enhancements, etc. from time to time in a manner that the investors can benefit. Such initiatives will be taken on a prospective basis through appropriate announcements / circulation.

6.9

LISTING AND TRANSFER Though listing is not envisaged, BSLAMC reserves the right to list Units at any of the Stock Exchanges.

It shall be mandatory for all investors to mention their bank account numbers in their application forms / redemption requests. Applications by mail should be sent to the Registrars, M/s Karvy Consultants Ltd., 46, Road No 4, Street No 1, Banjara Hills, Hyderabad 500 034, and should be accompanied by a cheque/demand draft payable at Hyderabad. 6.2.5

Basis of Allotment and Despatch of Account Statements Full allotment shall be made in respect of all valid applications received.

6.2.6

Refunds Refund of subscription monies to applicants whose applications are invalid for any reason whatsoever, or whose applications have not been accepted in full, will be done in accordance with the SEBI Regulations. Refunds of subscription money will be despatched within six weeks of the date of submitting the application. In the case of a delay beyond six weeks, the applicant will be paid interest at the rate of 15 percent per annum on the refund amount for the period of delay.

6.3

ACCOUNT STATEMENTS An Account Statement will be sent to investors after every transaction within five working days of receipt of the Application Form/Additional Purchase Request along with the cheque/ draft at any of the Investor Service Centres. The Account Statement will state such details as the amount invested, units allotted, date of investment as well as redemption details if any.

6.4

APPLICATIONS UNDER POWER OF ATTORNEY In the case of an application made under a Power of Attorney or by a limited company or by a body corporate or a registered society, or a trust, the original Power of Attorney or the certified copy thereof duly notarised or the relevant resolution or authority to make the application, as the case may be, along with a certified copy of the memorandum and articles of association and/or bye-laws must be lodged along with a photocopy of the application form within 30 days of the date of investment at the Hyderabad office of the Registrars.

6.5

As the fund will be repurchasing and issuing the units on an ongoing basis, no transfer facility is required. However, if a transferee becomes a holder of the units by operation of law or upon enforcement of a pledge, then BSLAMC shall, subject to production of evidence which, in its opinion, is sufficient, effect the transfer, if the transferee is otherwise eligible to hold the units. A person becoming entitled to hold the units in consequence of death, insolvency, or winding up of a sole holder or the survivors of joint holders, upon producing evidence to the satisfaction of BSLAMC, shall be registered as a holder. Provided that if the Units are with the depository such Units will be transferred in accordance with the provisions of SEBI (Depositories and Participants) Regulations, 1996. 6.10

TRANSFERRING BETWEEN PLANS Investors can transfer their investments from the Growth Plan to the Dividend Plan and vice versa. The transfers will be effected at the NAV of the transaction day without charge of any load. The difference in the net asset values of the Plans will be reflected in the units allotted. Transfer from one plan to another can be done only after a 30 days' period or such period as may be decided by BSLAMC from time to time.

6.11

INTER-SCHEME TRANSFERS Unit holders may transfer their investment in Birla IT Fund or Birla MNC Fund to all the domestic schemes of Birla Mutual Fund. The effective date would be the date of receipt of the investor's request on any working day during the transaction time. The difference in the net asset values of the two schemes will be reflected in the number of Units allotted. The differences in the load structures of the two schemes will also be reflected in the units alloted on transfer. BSLAMC reserves the right to determine the number of inter-scheme transfers, applicable during a calendar quarter, from time to time.

SYSTEMATIC INVESTMENT PLAN In order to encourage the habit of regular savings, BSLAMC has introduced the Systematic Investment Plan. Investing small sums regularly can help achieve long-term financial goals. A fixed amount can be invested every month in Birla IT Fund or Birla MNC Fund through post-dated cheques or through direct transfer by banks. By investing a fixed amount (subject to a minimum of Rs. 500, or such amounts as may be decided by BSLAMC from time to time) every month, an investor would be buying more units when the price is low, and fewer units when the price is high. As a result, over a period of time, the investor will be able to take advantage of the concept of "Rupee-cost Averaging".

6.6

Avail of the Regular Withdrawal Plan, whereby a fixed amount can be withdrawn every month or quarter.

REDEEMING FROM BIRLA IT FUND/ BIRLA MNC FUND Being an open-end scheme, investors may avail of any of the following: l Redeem part or whole of their balance as and when desired, subject to a minimum of Rs. 1,000.

6

Birla IT Fund / Birla MNC Fund 6.12

6.13

BIRLA MUTUAL FUND The name inspires trust

SERVICE TIME Account statements will be despatched to investors within five working days for of all transactions including subscriptions, inter-scheme transfers, transfers between Plans and redemptions. Redemption cheques will also be despatched within five working days of receipt of redemption request at any of the service centres of BSLAMC. In case dividends are declared, dividend warrants will be despatched to the unit holders within 42 days from the declaration date. For redemptions of more than Rs. 10 lakhs per investor at a time, BMF would normally despatch the cheque within a period of ten working days. Please also refer section titled "Extraordinary Circumstances" below.

7.1.6

WEALTH TAX BENEFITS Units held under the Scheme are not treated as assets under Sections 2 within the meaning of the Wealth Tax Act, 1957 and are therefore not liable to wealth tax.

7.1.7

TAX BENEFITS TO THE FUND Units issued by BMF are eligible for tax benefits under Section 10 (23D) of the Income Tax Act, 1961. BMF has been notified for exemption from income tax for its entire income and to receive income without any deduction of tax at source. Under normal circumstances Birla Mutual Fund is not liable to tax on the amount of income distributed by it. In case of extraordinary circumstances where the equity exposure of the scheme goes below 50%, Birla Mutual Fund will be liable to tax at the rate of 10% and the applicable surcharge thereon on the amount of income distributed.

EXTRAORDINARY CIRCUMSTANCES The repurchase and sale of units may be suspended during extraordinary circumstances including extreme volatility of the stock and money markets, extended suspension of trading on the stock exchanges, natural calamities, communication breakdowns, strikes, bandhs, riots, or other situations where the Trustee, in consultation with BSLAMC, considers that such suspension is necessary. The time taken to process redemptions and purchase requests, as mentioned earlier, may not be applicable during such extraordinary circumstances.

NOTE: (i) All tax benefits will be available only to the Sole Unitholder or the first named holder in case the Units are held in the names of more than one person, as the case may be. (ii) Where a partition has taken place among the members of a Hindu Undivided Family, or if the same has been dissolved, after a deduction has been allowed in respect of the investment under this Scheme, the person in receipt of the amount withdrawn will be deemed to be the assessee.

The sale of the units may also be suspended if, in the Trustee's view, increasing the Scheme's size further may prove detrimental to the existing Unit holders. An offer for purchase, is not binding on, and may be rejected by the Investment Manager, unless it has been confirmed in writing by the Investment Manager and payment has been received. 6.14

6.15

As per the advise received from the tax-advisers, BSLAMC confirms that the Income Tax/ Wealth Tax/ Capital Gains Tax and investment by NRIs/FIIs/OCBs are subject to relevant requirements under the Income Tax Act, FERA and RBI Directions.

TERMINATION OF THE SCHEME The scheme may be wound up under any of the following circumstances: l If any event occurs which, in the opinion of the Trustee, is prejudicial to the interests of the Scheme's investors. l If 75 percent or more of the Unit holders under the scheme pass a resolution and the Scheme be wound up. l If SEBI by order so permits.

8 8.1 Name

1997-98

1998-99

INVESTORS TRANSACTION LOAD As detailed in the above paragraphs, the transaction load on the investors will be as follows:

Apple Financial Securities Ltd. (NSE Member)

432.92

165.24

142.92

Apple Stock Broking Ltd (BSE Member)

487.08

131.53

181.63

Mr.Clifton D'Silva

219.84

25.63

15.95

Subscription Load (as a % of NAV)* Redemption Load (as a % of NAV)* Transfer between Plans in the Scheme Switchover Load (as a % of NAV)

Name

Upto 6% Upto 6% Nil As per the load structure of the respective schemes.

TAXATION Certain tax benefits are described below that are believed to be available, under present taxation laws, to the Unit holders of Mutual Funds including BMF. The information set forth below is included for general information purposes only. In view of the individual nature of tax consequences, each investor is advised to consult his/her own tax advisor with respect to the specific tax consequences to him/her of participation in the Scheme.

7.1 7.1.1

TAX BENEFITS INCOME FROM UNITS Any income received in respect of Mutual Funds specified u/s 10(23D) is exempt u/ s 10(33) of The Income Tax Act, 1961 ("the Act").

7.1.2

CAPITAL GAINS BENEFIT Units of the Scheme are treated as long term capital assets if held for a period of more than 12 months and will attract under Section 112 of the Act, favorable long term capital gains tax rate @ 20% for individuals. The capital gains will be computed after increasing the cost by the cost inflation index, for residents.

7.1.3

7.1.4

7.1.5

Amount Paid (Rs.) 1996-97

*Further, on any given day the difference between the redemption price and the subscription price of the units redeemed or issued on that day shall not exceed 7% of the subscription price.

7

ASSOCIATE TRANSACTIONS BUSINESS GIVEN TO ASSOCIATES OF Apple Asset Management Ltd. Payments made to sponsor and its associates during the last 3 years are given below:

% of Brokerage Paid 1996-97

1997-98

1998-99

Apple Financial Securities Ltd. (NSE Member)

3.87%

1.70%

2.58%

Apple Stock Broking Ltd (BSE Member)

4.73%

1.40%

3.39%

Mr.Clifton D'Silva

2.00%

0.26%

0.38%

8.2

BUSINESS GIVEN TO ASSOCIATES OF BSLAMC Payments made to sponsor and its associates during the last 3 years are given below:

Name

Amount Paid (Rs.)

Birla Marlin Securities Ltd. Birla Global Finance Ltd. Birla Capital International Trustee Co. Ltd. Birla Securities Ltd. Lucknow Finance Co. Ltd. Hindalco Industries Ltd. Birla Sun Life Distribution Company Ltd. 8.3

1996-97

1997-98

1998-99

2,87,016 17,726 4,48,018 -

3,06,600 2,29,330 4,00,000 94,68,661 -

8,80,313 5,00,000 1,06,71,277 1,99,112 1,60,975 55,37,906

INVESTMENTS IN GROUP / ASSOCIATE COMPANIES OF BSLAMC BSLAMC does not have any separate policy for investment in securities of the group

INVESTMENT OF REALISED CAPITAL GAINS Investment in the Scheme entitles investors to avail Long-Term Capital Gains Tax exemption under Sections 54 EA and 54 EB of the Act. In accordance with the provisions of the said Section / Notification under the Act, such units are not to be sold / transferred / pledged for the period of 3 years / 7 years respectively as provided under the sections.

companies. If at any time such investments are made, it will be done on pure commercial

RELIGIOUS AND CHARITABLE TRUSTS Investments in units of the scheme will rank as eligible form of investment under section 11(5) of the Act read with Rule 17C of the Income Tax Rules, 1962 for Religious and Charitable Trusts.

company of the Sponsor. Further, investments in listed securities of the group company of

consideration for the benefit of the Fund. No investment will be made in any unlisted security of an associate or group company of the Sponsor and in any security issued by way of private placement by an associate or group the Sponsor will not exceed 25% of the net assets of all the schemes of the Fund. Investment in group companies will be done only in the interest of the Fund and as per the SEBI Regulations.

TAX DEDUCTED AT SOURCE (TDS) No tax is required to be withheld or any income distributed by the Mutual Fund in respect of the units to its unit holders on or after June 1,1999 since section 194K and 196A of the Act are amended to this effect vide the Finance Act, 1999.

As on August 25, 1999, the schemes of Birla Mutual Fund had invested in the following securities of the sponsor and its associate companies.

7

Birla IT Fund / Birla MNC Fund

BIRLA MUTUAL FUND The name inspires trust

INVESTOR SERVICE CENTRES / BUSINESS DEVELOPMENT OFFICES The addresses of the Investor Service Centres / Business Development Office of BSLAMC are given below:

(Rs. in lacs) Company Name

Tyepe of Security

Scheme

Birla Global Finance Ltd. Grasim Industries Ltd. Hindalco Indian Rayon Indo-Gulf Fertilizers MRPL Total

Listed Debenture Listed Debenture Listed Debenture Listed Debenture Listed Debenture Listed Debenture

Birla Income Plus Birla Income Plus Birla Income Plus Birla Income Plus Birla Income Plus Birla Income Plus

Amount 534.99 294.06 747.99 1,037.40 253.35 531.87 3,399.66

Ahmedabad 405, Abhijeet, 4th Floor, Mithakhali Six Road, Navrangpura, Ahmedabad-380 009. Tel: (079) 6401787/6400788 Fax: (079) 656 3552

Bangalore Industry House, Gr. Floor, 45 Race Course Road, Bangalore-560 001. Tel: (080) 2253461 Fax: (080) 220 0191

Bhubaneshwar 168/169 A, 1st Floor, KAC-Building, Bapuji Nagar, Bhubaneshwar-751 009. Tel: (0674) 533016/533826 Fax: (0674) 531521

Calcutta A-8, FMC Fortuna, 234-3A, A. J. C. Bose Road, Calcutta-700 020. Tel: (033) 2800011 Fax: (033) 240 8953

It will also use the services of Birla Global Finance Ltd., Birla Sun Life Distribution Company Ltd. and Birla Securities Ltd. for marketing and distribution of the Scheme and the commission payable to them will be the same as will be paid in the normal course of the business to all other agents.

Chandigarh S.C.O., 198-200, 3rd Floor, Sector 34/A, Chandigarh. Tel: (0172) 647041/604412 Fax: (0172) 667652

Chennai Khazana Plaza, 1st Floor, 35/36, Cathedral Road, Chennai-600 006. Tel: (044) 8220884/8217234 Fax: (044) 8221641

9 9.1

INVESTOR RIGHTS AND SERVICES RIGHTS OF UNIT HOLDERS 1. Unit holders under the Scheme have a proportionate right in the beneficial ownership of the net assets of and to the dividend, if any, declared by the Scheme. 2. The appointment of an Asset Management Company for the Scheme can be terminated by majority of the trustees or by seventy five per cent of the unit holders of the Scheme. 3. Unit holders have the right to inspect all the documents listed under the heading 'Documents for Inspection.

Cochin Casa Blanca, 3rd Floor, M. G. Road, Opp. ICICI Bank, Cochin-682 035. Tel: (0484) 361077/352779 Fax: (0484) 361077

Hyderabad Mayfair Complex, 2nd Floor, S. P. Road, Secunderabad-500 003. Tel: (040) 7810846/6211052 Fax: (040) 7810844

9.2

REGISTER OF UNIT HOLDERS A register of Unit holders shall be caused to be maintained by BMF at Karvy Consultants Ltd. at Hyderabad. The register shall also be maintained at the registered office of BSLAMC and at such other places as the trustee may decide. The register shall contain a) the names and addresses of Unit holders; b) the number of Units held by each such holder; c) the date from which the Unit(s) are held in the name of the holder(s).

Indore 407, City Centre, M. G. Road, Near Stock Exchange, Indore-452 001. Tel: (0731) 432038/432364 Fax: (0731) 537476

Jaipur 210, Mukhija Chambers, Opp. Raymond Showroom, M. I. Road, Jaipur-302 001. Tel: (0141) 372935/367882 Fax: (0141) 378258

9.3

JOINT HOLDERS The first holder may opt to add one/two more persons as joint applicants. Where Units are held in the names of two or three persons, such persons shall be deemed to hold the Units on a first holder or survivor basis.

Lucknow 11B & 12, Saran Chambers II, 5 Park Road, Lucknow-226 001. Tel: (0522) 237751/52 Fax: (0522) 237361

Mumbai Ahura Centre, Tower A, 2nd Floor, 96 A-D, Mahakali Caves Road, Andheri (E), Mumbai-400 093. Tel: (022) 832 6000 Extn. 258 Fax: (022) 8324949/5300

Investments by the domestic schemes of BMF in the securities of the sponsor and its associates constitute 1.66% of the total net assets of these schemes of BMF. 8.4

BUSINESS DEALINGS/TRANSACTIONS WITH ASSOCIATES OF BSLAMC BSLAMC proposes to deal with its associate companies - Birla Sun Life Securities Ltd. and Birla Global Finance Ltd. for the purchase and sale of securities within the limits prescribed in SEBI Regulations.

a) In all such cases and in all matters concerning BMF, it shall be deemed that the first of such persons is the holder of the Units.

Pune 107-108, Choice Arcade, 153, Dhole Patil Road, Pune-411 001. Tel: (020) 633918/624960 Fax: (020) 620127

b) All payments and settlements shall be made to the first holder and a receipt thereof by him/her shall be a valid discharge to BMF. c) BMF shall for all purposes correspond only with first holder, and all communications with the first holder, including information on the working of the Scheme, shall be deemed to be a valid discharge by the Trust of its obligations.

Pune 107-108, Choice Arcade, 153, Dhole Patil Road, 9.6 PLEDGE OF UNITS Units under the Schemes can be pledged subject to existing statutes and the Income Tax Act, 1961, by unit holders as security for raising loans. BMF will take note of such pledge/charge in its records. A standard form has been prepared for this purpose and is available on request from the registered office of BSLAMC.

d) In the event of the death of the first holder, the second named joint holder or the nominee or the legal heir, as the case may be, shall be able to withdraw the investment. e) In the case of death of any joint holder, the person first in the order of survivor(s) as stated in the application form shall be the only person(s) recognised by the BMF as having any title to or interest in the Units. 9.4

CORRESPONDENCE All correspondence, including change in the name, address, designated bank account number and bank branch, loss of Account Statement, etc. should be addressed to Karvy Consultants Ltd. (Unit: Birla Mutual Fund), Road No 4, Street No. 1, Banjara Hills, Hyderabad 500 034.

9.5

INVESTOR SERVICE For assistance regarding redemptions or any queries related to subscriptions, investors may contact, Ms. Swarna Pardesi, the Investor Relations Officer at:

Birla Sun Life Asset Management Company Ltd. Ahura Centre, Tower A, 2nd Floor, 96 A-D Mahakali Caves Road, Andheri (East), Mumbai - 400 093. Tel : 832 6000 Toll Free Number : 1-600-22-1000 Fax: 832 4949, 832 5300

New Delhi 801/802, Ashoka State, Barakhamba Road, Cannaught Place, New Delhi-110 001. Tel: (011) 3320831/3725452 Fax: (011) 3329105

9.7

The Centre, SBI Commercial Branch Building Annexe, NGN Vaidya Marg (Bank Street) Mumbai - 400 023. Tel: 263 2351-54 Fax: 266 2061

NOMINATION Nomination facility is available in the Schemes. If a nomination is made by a single / joint unit holder(s) or a surviving unit holder not being persons : l holding the units as holder of an office, l

acting for a trust,

l

acting in any other capacity for any other person with a beneficial interest in units, the same shall be recognised by the AMC. The nomination facility extended under the Scheme is subject to the applicable rules and regulations. The single/joint/surviving unit holders can, at the time an application is made or subsequently by writing to the Registrar request for a nomination form and the rules and regulations governing the facility in order to nominate any person to receive the units upon his / her death subject to completion of necessary formalities. Payment to the nominee of the sums shall discharge the Fund of all liability towards the estate of the deceased unit holder and his / her successors / legal heirs.

Nomination facility forms are available at any of the Investor Service Centers of the AMC or the office of the Registrar.

8

Birla IT Fund / Birla MNC Fund 9.8

BIRLA MUTUAL FUND The name inspires trust

9.9

AMENDMENTS TO THE OFFER DOCUMENT The Offer Document of the Scheme has been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. Any amendments to the Offer Document shall be in accordance with the same. In case of amendments made by SEBI to the Regulations or the rules thereof, the same will be applicable to the Scheme.

9.10

DOCUMENTS FOR INSPECTION Copies of the following documents will be available for inspection by Unit holders on all working days between 11 a.m. and 1 p.m. at the registered office of BSLAMC located at Ahura Centre, Tower A, 2nd Floor, 96/A-D Mahakali Caves Road, Andheri (East), Mumbai- 400 093 :

10 10.1

11

INFORMATION REGARDING THE SCHEME BSLAMC will publish and distribute to every unit holder an audited annual report setting forth the financial position of the Scheme as on 31st March of every year. BSLAMC shall before the expiry of two months from the close of each half year that is on 31st March and on 30th September, publish the unaudited financial results of the Scheme in one English daily newspaper circulating in the whole of India and in a newspaper published in the language of the region where the Head Office of BSLAMC is situated. BSLAMC shall make periodic disclosures to the unit holders as are essential to keep them informed about any events that may have a serious bearing on the Scheme.

l

Memorandum and Articles of Association each of BSLAMC and BCITC.

l

The Custodial Agreement between BSLAMC, BCITC and IITCS.

l

The Investment Management Agreement.

l

Trust Deed.

l

Mutual Fund Registration Certificate from SEBI.

l

Indian Trusts Act, 1882.

l

Scheme Offer Document.

l

The Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.

l

Consent of the Auditors to act as Auditors to the Scheme.

l

Consent of the Registrars and Transfer Agents to act in the said capacity.

l

Deed of Variaton dated September 6, 1999

As regards Sun Life Assurance Company of Canada ("Sun Life"), in connection with its world wide insurance operations, Sun Life along with a number of other insurers in the United Kingdom has been required to compensate certain policy holders under the Financial Services Authority guidelines for past sales of pension products which occurred from 1988 to 1994. These guidelines have been significantly expanded in the past year for the second phase of required compensation, which has required the entire industry to significantly increase its provisions. The Financial Services Authority is continuing to provide more specific guidance for this compensation. Sun Life has made provision for this liability using estimates derived from the regulatory guidance or Sun Life's prior experience. Sun Life's future experience may be different from these estimates and consequently there is still uncertainty in measuring its ultimate costs. During the last 6 months Sun Life paid compensation of $ 81 million CDN. At June 30, 1999 Sun Life had provisions of $ 755 million CDN for future compensation payments. 2. There are no pending material litigation proceedings incidental incidental to the business of the Mutual Fund to which the Sponsors of the Mutual Fund or any company associated with the Sponsors in any capacity including the Asset Management Company, Trustee Company or any of the directors or key personnel is a party. Further, there are no pending criminal cases against the Sponsors or any company associated with the Sponsors in any capacity including the Asset Management Company, Trustee Company or any of the directors or key personnel. As regards other litigation, Sun Life is a party to certain legal proceedings relating to the reinsurance of a risk-sharing pool and related facilities, managed by Unicover Managers, Inc. ("Unicover"), which provided reinsurance for US workers compensation benefits. On July 15, 1999 Sun Life delivered a notice of arbitration to all participants in the Unicover pool and related facilities seeking rescissions of its contracts or damages. Shortly before Sun Life's reinsurers, Allianz Life Insurance Company of North America initiated legal proceedings against Sun Life and others seeking rescission of certain reinsurance treaties with Sun Life, including the treaty that would provide reinsurance of losses from Sun Life's contracts with Unicover. Allianz, SunLife and the other parties to the litigation have agreed to a temporary "stand still" of these proceedings.

INVESTOR GRIEVANCES REDRESSAL MECHANISM INVESTOR COMPLAINTS STATISTICSOF APPLE MUTUAL FUND

Scheme

Year

Apple Midas Fund The Goldshare

Complaints Received

Complaints Redressed

1996-1997

145

145

Nil

1997-1998

33

33

Nil

1998-1999

2070

2070

Nil

1999-2000

2025

1868

157

Apple Platinum

1996-1997

269

269

Nil

Share

1997-1998

51

51

Nil

1998-1999

418

418

Nil

1999-2000

228

213

15

Complaints Pending

Sun Life and its subsidiaries are engaged in litigation arising in the ordinary course of business worldwide, none of which is expected to have a material adverse effect on the consolidated financial position of Sun Life. (During 1998 Sun Life reached settlement agreements in both the USA and Canada in connection with "vanishing premium / premium offset" issues which had resulted in class actions in those countries against Sun Life.) 3. There is no deficiency in the systems and operations of the Sponsors of the Mutual Fund or any Company associated with the Sponsors in any capacity including the Asset Management Company or the Trustee Company which SEBI has specifically advised to be disclosed in the offer document, or which has been notified by any other regulatory agency.

1999-2000 figures for the period ended April1, 1999 to August 30, 1999. 10.2

INVESTOR COMPLAINTS STATISTICS OF BIRLA MUTUAL FUND

Scheme

Year

Birla Advantage Fund

Birla Income Plus

Birla Cash Plus

Birla Taxplan'98 Birla Taxplan

PENALTIES / PENDING LITIGATIONS 1. No penalties have been awarded by SEBI under the SEBI Act or any of its Regulations against the Sponsors of the Mutual Fund or any company associated with the Sponsors in any capacity including the Asset Management Company, Trustee Company or any of the Directors or key personnel (specifically the fund managers) of the Asset Management Company and Trustees.

Complaints Received

Complaints Redressed

Complaints Pending

1996-1997

1,440

1440

Nil

1997-1998

554

554

Nil

1998-1999

366

366

Nil

1999-2000

264

264

Nil

1996-1997

530

530

Nil

1997-1998

867

867

Nil

1998-1999

502

502

Nil

1999-2000

314

314

Nil

1997-1998

0

N.A.

N.A.

1998-1999

3

3

Nil

1999-2000

4

4

Nil

1998-1999

15

15

Nil

1999-2000

1

1

Nil

1999-2000

6

6

Nil

4. There are no enquiries / adjudication proceedings under the SEBI Act and the Regulations made thereunder, that are in progress against the Sponsors of the Mutual Fund or any Company associated with the Sponsors in any capacity including the Asset Management Company, Trustee Company or any of the directors or key personnel of the Asset Management Company. This Offer Document was approved by the Board of Directors of Birla Capital International Trustee Company Ltd., the trustee for Birla Mutual Fund, at their held on July 14, 1999. For and on behalf of the Board of the Directors of Birla Sun Life Asset Management Company Ltd., Investment Manager for Birla Mutual Fund

Place : Mumbai Date : December 27, 1999.

1999-2000 figures for the period ended April1, 1999 to August 30, 1999

9

ANSHUL JOSHI Compliance Officer

Instructions to Investor 1.

The application form should be completed in English in BLOCK LETTERS. Please Tick (✓) in the appropriate box, where boxes have been provided.

2.

The application forms are to be submitted at any of the Business Development Office mentioned below.

3.

Cheques / Demand Drafts should be drawn in favour of "Birla IT Fund" / "Birla MNC Fund". All applications from centres other than Business Development Offices mentioned below need to be accompanied by Demand draft drawn in favour of "Birla IT Fund" / "Birla MNC Fund" payable at Hyderabad and be mailed to the Registrars, M/s. Karvy Consultants Limited, Unit : Birla Mutual Fund, Office of Open-ended Mutual Funds, 21, Road No. 4, Street No. 1, Banjara Hills, Hyderabad 500 034.

4.

The applicant's name and address must be mentioned in full (P.O. box number alone is not sufficient).

5.

Investors investing in the Dividend option are requested to choose, either Dividend Payout or the Dividend reinvestment option.

6.

The applicant's PAN / GIR number and IT ward / circle / district, if available, should be mentioned if the amount invested is over Rs. 50,000/-

7.

Please provide the name of the bank, branch address, account type and account number in whose favour the redemption / dividend / refund, if any, cheque is to be credited. Investors are urged to provide this information in their own interest, to prevent loss due to misplacement of cheques-in-transit. All cheques will be sent to investors and not to the bank. As per SEBI regulations it is mandatory for all investors to mention their bank account number in their application form.

8.

In the case of an application made under a power of attorney or by a limited company or a body corporate or a registered society or a trust, the original power of attorney or the certified copy thereof duly notarised or the relevant resolution or authority to make the application, as the case may be, along with the application form.

9.

Please state the application form number on the reverse of the cheque / demand draft.

10. Signature can be in English or any Indian language. Thumb impression must be attested by the magistrate / notary public under his / her official seal. In the case of an HUF, the Karta will sign on behalf of the HUF. 11. Investors who have realised long term capital gains by sale of shares, property or other assets can invest in the scheme and avail of benefits under Sections 54EA and 54EB of the Income Tax Act, 1961. Investors may please note that a lock-in period of three years for net consideration invested, will apply for capital gains invested under Section 54EA and a lock-in period of seven years will apply for capital gains invested under Section 54EB (for details, please refer to your tax consultant). The choice once indicated cannot be changed under any circumstances. 12. Documents to be submitted: (i) For Charitable and Religious Trusts: (a) Trust deed (b) Certified copy of resolution (c) List of authorised signatories with specimen signatures (ii)

For Companies: (a) Certified copy of Board Resolution (b) Memorandum & Articles of Association (c) List of authorised signatories with specimen signatures

(iii)

For Partnership Firms: (a) Certified copy of partnership deed (b) List of authorised signatories with specimen signatures (c) Certified copy of Resolution

13. Partnership firms are required to inform the fund of any change in the constitution of the firm. 14. Nomination facility is available only for individuals. Minors can also be nominated. However, persons applying on behalf of minors and for the benefit of mentally handicapped persons, HUF and non-individuals can not nominate.

Business Development Offices Birla Sun Life Asset Management Company Ltd. Ahmedabad: 405, Abhijeet, 4th Floor, Mithakhali Six Road, Navrangpura, Ahmedabad-380 009. Tel: 6401787/ 6400788. Bangalore: Industry House, Gr. Floor, 45 Race Course Road, Bangalore-560 001. Tel: 2253461. Bhubaneshwar: 168/169 A, 1st Floor, KAC-Building, Bapuji Nagar, Bhubaneshwar-751 009. Tel: 533016/533826. Calcutta: A-8, FMC Fortuna 234-3A, A. J. C. Bose Road, Calcutta-700 020. Tel: 2800011. Chandigarh: S.C.O., 198-200, 3rd Floor, Sector 34/A, Chandigarh. Tel: 647041/604412. Chennai: Office No. 1, Khazana Plaza, 1st Floor, 35/36, Cathedral Road, Chennai-600 086. Tel: 8220884/8217234. Cochin: Casa Blanca, 3rd Floor, M. G. Road, Opp. ICICI Bank, Cochin-682 035. Tel: 361077/352779. Hyderabad: Mayfair Complex, 2nd Floor, S. P. Road, Secunderabad-500 003. Tel: 7810846/6211052. Indore: 407, City Centre, M. G. Road, Near Stock Exchange, Indore-452 001. Tel: 432038/432364. Jaipur: 210, Mukhija Chambers, 5, Opp. Raymond Showroom, M. I. Road, Jaipur-302 001. Tel: (0141) 372935/367882. Lucknow: 11B & 12, Saran Chambers II, 5 Park Road, Lucknow226 001. Tel: 237751/52. Mumbai: Ahura Centre, Tower A, 2nd Floor, 96 A-D, Mahakali Caves Road, Andheri (E), Mumbai-400 093. Tel: 832 6000/6100/6200 Extn. 215/ 243. New Delhi: 801/802, Ashoka State, Barakhamba Road, Cannaught Place, New Delhi-110 001. Tel: 3725452/3725453 Extn. 33. Pune: 107-108, Choice Arcade, 153, Dhole Patil Road, Pune-411 001. Tel: 633918/624960

Toll Free Customer Service Hotline: 1-600-11-7000 "

"

BIRLA MUTUAL FUND

Sr. No.

The name inspires trust.

Corporate Office: 2nd Floor, Ahura Centre, Tower A, 96/A-D Mahakali Caves Road, Andheri (East), Mumbai - 400 093. Phone: (91-22) 832 6000 Fax: (91-22) 8324949/8325300

Acknowledgement

Date:

Cheques/Drafts are subject to realisation

(To be filled in by the Sole/First Applicant) Applicant's Details

Fund

Investor Service Center

First Applicant: Address:

Cheque Details

Cheque / Demand Draft No.

Dated

Birla IT Fund

Date

Birla MNC Fund

Time

Stamp

Drawn on (bank & Branch)

All future communication in connection with this application should be addressed to the Registrar : Karvy Consultants Limited : 21, Road No. 4, Street No. 1, Banjara Hills, Hyderabad 500 034. Phone: (040) 3312946, Fax: (040) 339 7883 quoting full name of Sole/First Applicant, Application Sr. No., Date, Name of the Investor Service Centre where it was lodged.