Press Release

JCR-VIS Reaffirms Fund Stability Rating of Meezan Cash Fund at AA(f)

Karachi, December 09, 2010: JCR-VIS Credit Rating Company Limited has reaffirmed the Fund Stability Rating (FSR) of Meezan Cash Fund (MCF) at ‘AA(f)’ (Double A (f)).

Net assets of MCF have witnessed significant growth amounting to Rs. 6.65b at end-October 2010. The fund is primarily invested in bank deposits of AA and above rated banks, signifying sound credit profile. Moreover, duration of fund’s assets was low at 25 days at end-Oct’10. By policy also, exposures taken by the fund are subject to minimum credit rating of AA and maximum time to maturity of six months with weighted average time to maturity of the fund not to exceed 90 days.

Return posted by the fund is in line with the risk profile of assets and has remained consistent. Daily product accounts represent a sizeable proportion of the asset mix, which is expected to facilitate timely redemptions, without impacting return.

For further information on this rating announcement, please contact Ms. Sabeen Saleem. CFA (Ext: 510) or Ms. Sobia Maqbool, CFA (Ext: 506) at 35311861-70 or fax to 35311872-3.



Javed Callea
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 December 09, 2010 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.