Press Release

JCR-VIS places Ratings of Saudi Pak Leasing Company Limited under ‘Rating Watch-Developing Status’

Karachi, February 4, 2009: JCR-VIS Credit Rating Company Limited has placed the issuer and issue ratings of ‘BBB+/A-3’ (Triple B Plus/A-Three) and ‘A-’ (Single A Minus) respectively assigned to Saudi Pak Leasing Company Limited (SPLC) under ‘Rating Watch- Developing Status’. This is in response to the decision taken by the Board of Directors to authorize the management to proceed for possible merger with Emirates Global Islamic Bank Limited. JCR-VIS will closely monitor further developments in this regard.

For further information on this rating announcement, please contact Ms. Sobia Maqbool (Ext: 506) or Ms. Sabeen Saleem (Ext: 510) at 5311861-70 or fax to 5311873.



Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright February 04, 2009 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.