Oil Corporation

November 25, 2009 To, Mr. Krishna Mohna, Indian Oil Corporation Ltd, New Delhi Dear Sir, We take this opportunity to introduce Trust Capital Services (India) Private Ltd. We are one of the major players in the domestic fixed income market in India. We have consolidated our leadership by providing intermediation services to banks, institutions, mutual funds, cooperative banks, provident funds and charitable trusts. Trust Investment Advisors Private Limited, a subsidiary of Trust Capital Services (India) Private Ltd, is a Category I Merchant Banker and has been ranked No.4 for the FY 2008-2009 in the PRIME League Table in all category segment. We have managed bond issues of Public Sector Undertakings like India Infrastructure Finance Co Ltd (IIFCL), Power Finance Company Ltd (PFC), Rural Electrification Corporation Ltd (REC), Steel Authority of India Ltd (SAIL), and Neville Lignite Corporation (NLC) , Nuclear Power Corporation of India Ltd (NPCIL), etc.We have been associated with 19 nationalized banks like Punjab National Bank, State Bank subsidiaries, Union Bank of India, Bank of India, etc for mobilization of their Tier I and Tier II issues. Our current ranking status for FY 2009-10 is also NO 4 as per the updated Prime League Table and NO 1 in the non institutional/non bank merchant bankers’ category. We have been one of the active lead arrangers of the country largest taxfree issue of IIFCL and also the highest mobilsors in the retail and institutional segment in the second tranche of IIFCL Tax free issue. In this connection, we request you to kindly us an appointment with Shri. V.K. Sood – ( Executive Director- Corp. Finance) at a time and day suitable to him next week, so that we may introduce our company to him and establish a business relationship with your bank. Kindly do the needful and oblige. Thanking you, Yours faithfully, For, Trust Investment Advisors Private Limited,

NIPA SHETH [Director] Mobile Nos: 09820210716 Other Contact: Ms Hetal Sonpal [Head- Merchant Banking Division]

Mobile Nos: 09821524166/09831524166/09818422298 Mr. Sanjeev Jain [Head- Delhi Branch] -09899077719