PART - A BUSINESS SEGMENTS

1. The working results for the Half Year ended 30.09.06 have been arrived at after considering the provision for non-performing assets, standard assets and investment depreciation on the basis of prudential norms issued by the Reserve Bank of India (R.B.I). In respect of income tax, fringe benefit tax, pension, gratuity, leave encahshment etc. necessary provisions have been made on an estimated and proportionate basis. Additional liability on account of employee benefits as per the revised Accounting Standared 15 issued by Institute of Chartered Accountants of India (ICAI) is yet to be ascertained pending guidelines from RBI.
    
2. Reconciliation of outstanding entries in Suspense accounts and Inter Branch/Office accounts is in progress. The impact of such reconciliation on the accounts will not be material.
     
3. Consequent upon transfer of certain Government Securities from Available from Sale Category to Held to Maturity Category as permitted by RBI, depreciation amounting to Rs. 50.93 crores (166.53 crores) has been charged to Profit & Loss Account during this Half Year.
     
4. There has been no change in the Accounting Policies adopted during the Half Year ended 30.09.06 to those followed in the previous year.
     
5. The above results for the Half Year ended 30.09.06 have been subjected to review by the Auditors of the Bank.
     
6. The above results have been taken on record by the Board at its meeting held on 30th Oct, 2006.
     
7. The previous period figures have been regrouped/rearranged wherever necessary.
     
8. Number of Investor Complaints : Outstanding at the beginning of the quarter - Nil; Received during the quarter - 55; Disposed off during the quarter - 55; Lying unresolved as at the end of the quarter - Nil.

For UCO BANK

(V.Sridar)
Chairman & Managing Director