Press Release

JCR-VIS upgrades the IFS rating of East West Insurance Company Limited to BBB+

Karachi, December 7, 2005: JCR-VIS Credit Rating Company Ltd. has upgraded the Insurer Financial Strength rating of East West Insurance Company Limited from ‘BB’ (Double B) to ‘BBB+’ (Triple B Plus). Outlook on the rating is ‘Stable’.

The upgrade takes into account the efforts made by management and sponsors to strengthen the company both operationally and financially. Significant steps have been taken to improve cash management by restricting the funds’ deployment in branches and substantially improving the quality of the company’s investment portfolio by reducing the level of concentration and deploying funds in higher yielding securities.

The sponsors’ decision to further improve the level of capitalization will also improve the company’s risk taking capacity.

For further information on this rating announcement, please contact the undersigned or Ms. Sabeen Saleem (sabeen@jcrvis.com.pk / ext: 222) at 5671822/5671833/5680996 or fax to 5681105/5671600.



Syed Ziauddin Ahmed
Advisor & Rating Committee Member

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 December 07, 2005 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.