Press Release

JCR-VIS removes Rating Watch status from ratings of Saudi Pak Leasing Company Limited

Karachi, May 22, 2009: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Saudi Pak Leasing Company Limited (SPLC) at ‘BBB-/A-3’ (Triple B Minus/A-Three). Rating of the outstanding TFC issue has also been reaffirmed at ‘BBB’ (Triple B). Outlook on assigned ratings is now ‘Negative’.

‘Rating Watch-Developing’ status assigned in February 2009 has been removed. This is in response to the announcement made by the company that the merger process with Emirates Global Islamic Bank Limited has been discontinued.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 or fax to 5311873.


Safdar Kazi
Director

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 May 22, 2009 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.