Subject: Cancellation of Certificate of issued to Pioneer ITI Mutual Fund.

Kothari Pioneer Mutual Fund was granted the certificate of registration under the SEBI (Mutual funds) Regulations, 1993 on August 26, 1993.The name of the fund was changed to Pioneer ITI Mutual Fund in August 2001.As a result of change in control, Pioneer ITI Mutual Fund has handed over all their existing schemes to Templeton Mutual Fund after giving an exit option to all the unitholders in accordance with the provisions of the SEBI (Mutual Funds) Regulations, 1996. SEBI has now cancelled the certificate of registration to Pioneer ITI Mutual Fund and approval granted to Pioneer ITI AMC Ltd, the asset management company has been withdrawn. Consequently, the mutual fund, trustee company or asset management company cannot carry out any activity as a mutual fund, trustees or asset management company, as the case may be, in accordance with the regulations.