Press Release

JCR-VIS reaffirms Corporate Governance Rating of CGR-9 of Pak Oman Investment Company Limited

Karachi, November 23, 2006: JCR-VIS Credit Rating Co. Ltd. has reaffirmed the corporate governance rating of Pak Oman Investment Company Limited at CGR-9 denoting ‘very high level of corporate governance’. This rating is based on a scale ranging from CGR-1 (lowest) to CGR-10 (highest).

Corporate governance ratings are based on a composite evaluation of the level of regulatory compliance, ownership structure, composition & operations of the Board of Directors and executive management, financial transparency, self-regulation and stakeholder relations.

For further information on this rating announcement, please contact Mr. Safdar Kazi (safdar@jcrvis.com.pk /ext: 221) or Mr. Saad Ahmed Madani (saad@jcrvis.com.pk /ext: 219) at 5671822/5671833/5680996 or fax to 5681105/5671600.




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 November 22, 2006 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.