In this paper we present extinction properties of interstellar dust in a prominent dust lane galaxy NGC 4370 based on the optical broad band ( BVRI ) imaging observations taken from the Himalaya Chandra Telescope ( HCT ) , Hanle and the near-IR ( J , H , K _ { s } ) images taken from the 2MASS archive . NGC 4370 belongs to the Virgo cluster ( VCC 0758 ) and form a non-interactive pair with NGC 4365 at 10 ^ { \prime } . NGC 4370 hosts a prominent dust lane running parallel to its optical major axis and is extended almost up to 1 ^ { \prime } . The extinction curve derived for NGC 4370 is found to run parallel to Galactic extinction curve , implying that the properties of dust in NGC 4370 are identical to those of the canonical grains in the Milky Way . The R _ { V } value is found to be equal to 2.85 \pm 0.05 and is consitent with the values reported for the dust lane galaxies . The total dust content of NGC 4370 estimated using optical extinction and IRAS flux densities are found to be equal to 4.4 \times 10 ^ { 4 } M _ { \odot } and 2.0 \times 10 ^ { 5 } M _ { \odot } , respectively . As regard to the origin of dust and ISM in this galaxy , the accumulated dust by this galaxy over its life-time is insufficient to account for the detected mass by optical means , which in turn imply that the ISM might have been acquired by the NGC 4370 through a merger like event . An attempt is also made to study the apparent spatial correspondence between the multiple phases of ISM , i.e. , hot gas , warm gas and dust in this galaxy by obtaining optical emission maps from narrow band imaging and diffuse X-ray emission map obtained from the analysis of Chandra archival data . This analysis implies a physical connection between the dust and warm gas in terms of their physical co-existence and common origin too . Keywords : Galaxies : general - Galaxies : ellipticals and lenticulars , early-type galaxies - ISM : dust , extinction