Press Release

JCR-VIS places the ratings of Crescent Commercial Bank Limited on Rating Watch

Karachi, April 21, 2006: Subsequent to the decision of the Board of Directors of Crescent Commercial Bank Limited (CCBL) to pursue an amalgamation process with Pakistan Industrial Credit and Investment Corporation (PICIC) and PICIC Commercial Bank in line with the directives issued by the State Bank of Pakistan, JCR-VIS Credit Rating Company Limited has placed the rating of ‘BBB+ / A-2’ (Triple B Plus / A-Two) assigned to CCBL on ‘Rating Watch’.

For further information on this rating announcement, please contact the undersigned (Ext: 221) or Ms. Sabeen Saleem (Ext: 222) at 5671822/5671833/5680996 or fax to 5681105/5671600.



Safdar Kazi
Member Rating Committee &
Coordinator, International Affiliates

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