Press Release

JCR-VIS to review its Management Quality Ratings

Karachi, January 1, 2009: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned MQ rating of ‘AM-DS’ (AM - Developing Situation) to Pak-Oman Asset Management Limited (POAML). This is in line with the rating action taken for the mutual fund sector. POAML had voluntarily suspended issuance and redemption of units of its open end fund with equity exposure even after the expiry of SECP directive on suspension.

Certain fund managers have removed this voluntary suspension. JCR-VIS will be reviewing MQ ratings in the near future.

For further information on these rating announcements, please contact Ms. Sabeen Saleem (Ext: 510) or Ms. Sobia Maqbool (Ext: 506) at 5311861/5311862/5311863 or fax to 5311873.

Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-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. JCR-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. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-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 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited