Press Release

JCR-VIS assigns Preliminary Fund Stability Rating of AA+(f) to UBL Liquidity Plus Fund

Karachi, May 28, 2009: JCR-VIS Credit Rating Company Limited has assigned ‘Preliminary’ Fund Stability Rating (FSR) of ‘AA+(f)’ (Double A Plus (f)) to UBL Liquidity Plus Fund (ULPF), to be launched by UBL Fund Managers Limited. The ratings will be finalized following a review of the final trust deed and offering document.

ULPF has been structured as an open end money market scheme with the objective of investing in low risk instruments while maintaining high liquidity. At least 60% of the fund’s assets will be deployed in short term government paper while remaining exposure will be taken in counterparties with issue or issuer ratings of at least ‘AA’. The remaining maturity of any exposure may not exceed 6 months while the weighted average time of maturity of the scheme will be 90 days.

The fund is primarily targeted at corporates which may result in a concentrated unit holding pattern over the medium term. Maintaining liquidity would be crucial in the context of the fund’s targeted investor base.

For further information on this rating announcement, please contact Ms. Sabeen Saleem (Ext: 510) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 or fax to 5311872.



Faheem Ahmad
President & CEO

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 2009 VIS Credit Rating Company Limited . All rights reserved. Contents may be used by news media with credit to VIS .