ESCORTS MUTUAL FUND                
ESCORTS OPPORTUNITIES FUND                
BALANCE SHEET AS AT MARCH 31, 2007                
  SCHEDULE   AS AT   AS AT    
        MARCH 31, 2007   MARCH 31, 2006    
           ( Rs. )        ( Rs. )    
                 
LIABILITIES                
               
Unit Capital   1                                           589,895,353                      619,466,141    
Reserves and Surplus   2                                           190,254,975                      505,524,584    
Current Liabilities and Provisions   3                                             39,313,088                      110,415,451    
         -----------------    -----------------    
Total                                               819,463,416                   1,235,406,176    
       -----------------    -----------------    
               
ASSETS                
               
               
Investments   4                                           705,520,414                   1,085,487,021    
Other Current Assets   5                                           113,943,002                      149,919,155    
Deferred Revenue Expenditure   6                                                            -                                         -      
       -----------------    -----------------    
Total                                               819,463,416                   1,235,406,176    
         -----------------    -----------------    
RECONCILIATION TO NET ASSET VALUE PER UNIT :                  
               
    Dividend Option Growth Option Dividend Option Growth Option    
    (Rs.) (Rs.) (Rs.) (Rs.)    
               
Net Asset Value as per Balance Sheet              755,478,810                                           24,671,518                       694,624,425                    430,366,301    
(Total Assets-Current Liabilities & Provisions)                
               
Net Asset Value              755,478,810                                           24,671,518                       694,624,425                    430,366,301    
               
Number of Units                57,971,704                                             1,017,831                         44,907,007                      17,039,607    
               
Net Asset Value per Unit                     13.0319                                                24.2393                                  15.47                               25.26    
               
               
Significant Accounting Policies & Notes on Accounts   10            
               
As per our report of even date