Press Release

JCR-VIS assigns Management Quality (MQ) rating of AM2 to National Investment Trust Limited (NITL)

Karachi, June 23, 2008: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned Management Quality Rating of ‘AM2’ to National Investment Trust Limited (NITL). AM2 denotes high management quality showing the company’s strong capacity to manage the risks inherent in asset management and the asset manager meets high investment management industry standards and benchmarks.

The rating derives strength from the performance of funds under management over the last two years and also takes into account the strong franchise of the management company. The number of individual unit-holders is high, although on a declining trend.

The management company has started pre-audit of NAV as per international best practice while implementation of a comprehensive IT system is under progress.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sabeen Saleem (Ext: 510) at 5311861-70 or fax to 5311872-3.



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 June 23, 2008 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.