Press Release

JCR-VIS places Ratings of Saudi Pak Leasing Company Limited under ‘Rating Watch-Developing Status’

Karachi, February 4, 2009: JCR-VIS Credit Rating Company Limited has placed the issuer and issue ratings of ‘BBB+/A-3’ (Triple B Plus/A-Three) and ‘A-’ (Single A Minus) respectively assigned to Saudi Pak Leasing Company Limited (SPLC) under ‘Rating Watch- Developing Status’. This is in response to the decision taken by the Board of Directors to authorize the management to proceed for possible merger with Emirates Global Islamic Bank Limited. JCR-VIS will closely monitor further developments in this regard.

For further information on this rating announcement, please contact Ms. Sobia Maqbool (Ext: 506) or Ms. Sabeen Saleem (Ext: 510) at 5311861-70 or fax to 5311873.



Faheem Ahmad
President & CEO

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