Press Release

JCR-VIS removes Rating Watch status from ratings of Saudi Pak Leasing Company Limited

Karachi, May 22, 2009: JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Saudi Pak Leasing Company Limited (SPLC) at ‘BBB-/A-3’ (Triple B Minus/A-Three). Rating of the outstanding TFC issue has also been reaffirmed at ‘BBB’ (Triple B). Outlook on assigned ratings is now ‘Negative’.

‘Rating Watch-Developing’ status assigned in February 2009 has been removed. This is in response to the announcement made by the company that the merger process with Emirates Global Islamic Bank Limited has been discontinued.

For further information on this rating announcement, please contact the undersigned (Ext: 501) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 or fax to 5311873.


Safdar Kazi
Director

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