Press Release

JCR-VIS removes ‘Rating Watch’ from the ratings of Bank of Khyber

Karachi, September 3, 2005: JCR-VIS Credit Rating Company Limited has removed the ‘Rating Watch’ on ratings of ‘BBB/A-2’ (Triple B / A-Two) with a ‘Stable’ outlook, assigned to The Bank of Khyber. The bank is currently in the process of finalizing its formalities for the Initial Public Offer which will increase the paid up capital of the bank to Rs. 1.64b and comply with the existing minimum paid-up-capital requirement, effective since January 1, 2005. The currently in charge interim management is operating the bank’s business in a satisfactory manner.

For further information on this rating announcement, please contact Mr. Muhammad Ameen (Ext: 233) or Ms. Sabeen Saleem (Ext: 222) at 5671822/5671833/5680996 or fax to 5681105/5671600.

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 2005 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .