Press Release

JCR-VIS places ratings of Saudi Pak Commercial Bank Limited on ‘Rating Watch – Developing’

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Karachi, July 26, 2007: JCR-VIS Credit Rating Company Limited has placed the entity ratings of ‘BBB+/A-3’ (Triple B Plus/A-Three) assigned to Saudi Pak Commercial Bank Limited under ‘Rating Watch – Developing’ status in view of the decision taken by the major shareholders of the bank, Saudi Pak Industrial & Agricultural Investment Company Limited, to sell their shareholding. Investors will be notified of further developments on this front.

For further information on this rating announcement, please contact Mr. Safdar Kazi or Ms. Sabeen Saleem at 5311861-70 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 2007 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