Karachi, December 29, 2005: JCR-VIS Credit Rating Company Ltd. has maintained the medium to long-term entity rating of Escorts Investment Bank Limited (EIBL) at ‘A’ (Single A) with a ‘Stable’ outlook and upgraded short-term rating of the bank from ‘A-2’ (A Two) to ‘A-1’ (A One)

EIBL has broadened the base of business activities over the last couple of years and earnings have improved considerably over this period. A 40% rights issue has also improved capitalization with equity increasing by about 60% from June 2004 to September 2005. Improving diversification in the institution’s earning base would further support assigned ratings. Short-term ratings reflect the bank’s currently strong liquidity profile. JCR-VIS believes that reducing reliance on short-term money markets for funding and cultivating presence in the primary funds market can also provide increased financial flexibility to non-banking finance companies. In this regard, EIBL plans to launch fresh schemes for mobilizing retail funds this year and also diversify its business portfolio further, which would support current ratings.

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



Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, 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 Credit Rating Company Limited is paid a fee for most rating assignments. This rating is an opinion on credit quality only and is not a recommendation to buy or sell any securities. Copyright 2005 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS Credit Rating Company Limited.