Press Release

JCR-VIS Maintains Entity Ratings of Security Investment Bank Limited

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Karachi, June 29, 2012: JCR-VIS Credit Rating Company Limited has maintained the entity ratings of Security Investment Bank Limited (SIBL) at ‘A/A-2’ (Single A/A-Two).

Ratings take into account the challenging operating environment for secondary market borrowers in the backdrop of weak macroeconomic conditions. With limited market access to low-cost funding, operating margins of secondary market borrowers have reduced over time. In view of this, Outlook on the assigned rating has been revised to ‘Negative’.

Financing portfolio more than doubled by end-2011; though, adequate liquidity cushion is available against outstanding borrowings and deposits. Borrowings of the entity are secured against government securities. Risk of future losses emanating from exposure of the bank to market risk arising from volatility in share prices has significantly reduced over time with decline in exposure against listed shares.

For further information on this rating announcement, please contact Ms. Sobia Maqbool, CFA (Ext: 506) or Mr. Javed Callea (Ext: 501) at 35311861-70 (10 lines) or fax to 35311873.

Syed Ziauddin Ahmed

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 not an NRSRO and its credit ratings are not NRSRO credit ratings.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 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited