Press Release

JCR-VIS Places Fund Stability Ratings of United Growth & Income Fund on Rating Watch and Withdraws the Fund Stability Rating of United Money Market Fund

Karachi, July 08, 2009: JCR-VIS Credit Rating Company Limited has placed the Fund Stability Rating (FSR) of United Growth & Income Fund (UGIF) of ‘A(f)’ (Single A (f)) on ‘Rating Watch- Developing’ and has withdrawn the FSR of United Money Market Fund of ‘A+(f)’ (Single A Plus (f)) on account of merger of UMMF into UGIF.

UGIF is managed by UBL Fund Managers Limited. The FSR of UGIF will be updated shortly, following a review of the risk profile of the merged fund.

For further information on this rating announcement, please contact Ms. Sabeen Saleem (Ext: 510) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 or fax to 5311872-3.



Syed Ziauddin Ahmed
Advisor

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 July 08, 2009 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.