| NEWS
RELEASE
Sachin Tendulkar gold
coin launched by Société Générale
LONDON 10 June 1999 - A Cricket World Cup Commemorative Gold
Medallion featuring the ace Indian batsman Sachin Tendulkar has been launched
worldwide by the French bank, Société Générale
(SG). The coin, launched first in India then the Middle East and now all
over the world, has the support of the World Gold Council.
The ¼ ounce 24-carat pure gold coin was conceived as a limited
edition commemorative medallion for the Cricket World Cup which is being
held in England over May and June 1999. Top designer Stuart Devlin was
commissioned by SG to design this coin, which was minted at the Perth
Mint in Australia.
SG have been active in precious metals since 1988 and work very closely
with producers, assisting in long term hedging. SG have been successfully
involved in the physical gold business in India for almost one and a half
years.
Twelve of the leading cricketing nations are at present participating
in the World Cup in England. The coin expresses the hopes and aspirations
of the Indian community that the Indian team will perform at its best
during the championship.
"India has a passion for two things: Cricket and Gold. This passion
cuts across all cultural and class categories. SG have captured these
two passions in the product very well," said Rolf Schneebeli, Regional
Chief Executive of the World Gold Council.
"Indians are great gold buyers and look for new reasons to buy gold.
This coin provides that reason. SG have also banked on the fact that Indians
- wherever they may be on the face of the globe - follow cricket with
the same passion that is found in India. That significantly increases
the market size purely from a nationalistic pride point of view. Then
add to that the fact that Indians living abroad have a higher spending
capacity than their cousins in India. What you get is a winner if marketed
and distributed well," said Schneebeli.
Indeed that part of it too has been well planned by SG. The coin is being
distributed in India through Corporation Bank, which has branches all
over the country. In the Middle East, SG have tied up with Dubai-based
Damas Jewellery, one of the largest retail chains in the region and top
exporters. With the Middle East breaking into the traditional holiday
season now, that means distribution strength and excellent customer service.
Localisation of marketing strategies has also been a feature of the SG
launch. In India, the launch was accompanied by a big bang road show featuring
Tendulkar himself. In Dubai, where the Middle East launch took place,
SG tied up with the Indian Sports Club, an influential body, and organised
a Support India signature campaign in a popular public park. Indians were
given the opportunity to send the team their best wishes which were faxed
to the hotel of the Indian team in Leicester, England.
The medallion is also available in Fiji and the United Kingdom. "Basically,
we believe we have good distribution where the Great Indian Diaspora resides,"
said Jeff Gratton-Brunt, Director-Precious Metals Physical of SG.
The passion for cricket is best represented by the person featured on
the coin, Sachin Tendulkar. As undoubtedly the best batsman in the world,
SG has paid tribute to his talent through the medallion. "Sachin
has only to take to the field, be it batting, bowling or fielding, everybody
is certain that he will deliver his special brand of magic to turn the
game India's way," said Gratton-Brunt. "In fact, Sachin's appeal
is universal and we expect quite a few non-Indians to buy the coin as
well," said Gratton-Brunt.
"Gold has a special place in the hearts of all Indians. It represents
status, gift-giving, savings and adornment. Every person derives his or
her unique mix of values from investment in Gold. Products such as this
coin provide the right emotional trigger to buy gold. It gives an opportunity
to both cricket-lovers and gold buyers to exercise their gold-buying habit,"
said Schneebeli.
The price is subject to the gold price ruling at the time the order is
received, but will be kept constant at £70 + VAT for all gold prices
varying between US$ 275 and US$ 300 per ounce. In the UK, the medallion
is available as follows:
Western Jewellers, 230 Upper Tooting Rd, London SW17 Tel: 0181 767 3445
Libra Consultants, 13 Ashbourne Parade, London W5 Tel: 0181 998 0032
Mulji's, 216 Upper Tooting Rd, London SW17 Tel: 0181 767 8818
Danabhaj Arjan & Sons, 210-212 Green Street, London E7 Tel: 0181 470
3013
Danabhaj Jewellers, 197 Ilford Lane, Ilford, Essex IG1 Tel: 0181 478 1144
Ram Jewellers, 116 Belgrave Road, Leicester LE4 Tel: 0116 166 4278
Jayantilal Popatlal Dhanak, 85 Belgrave Road, Leicester LE4 Tel: 0116
266 1273
J. Kanjai Jutha Jewellers, 513 Stratford Road, Birmingham B11 Tel: 0121
771 2052
PBL Jewellers, 186 Ealing Road, Wembley, Middx HA0 Tel: 0181 902 4282
Hayes Jewellers, 103 The Broadway, Southall, Middx UB1 Tel: 0181 571 3813
Sungold, 6 Melton Road, Leicester LE4 Tel: 0116 266 6060
For Details Contact: Jeff Gratton-Brunt
Director, Precious Metals Physical
Société Générale
+33-1-42 13 39 63
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