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The Karachi Stock Exchange Limited’s issuance of 18.75% right shares of East West Life Assurance Company Limited at R. 10/- (at Par) per share

Karachi, June 07, 2013 (PPI-OT): With reference to our application for issuance of right shares, we hereby confirm as under:

We shall abide by the CDC and KSE procedures relating to right shares and shall deposit the unpaid right in De Mat (Book Entry) within the time frame as stipulated under the CDC procedures as well as KSE regulations.

The payment of unpaid right letter will be made by cash or crossed cheque or demand-draft or pay order made out to the credit of “East West Life Assurance Company Limited-Right Shares Subscription Account” through any branches of Summit Bank Limited in Pakistan as per tentative schedule submitted to you.

The shareholders holding shares of the Company in physical form should please note that under the CDC applicable right shares procedure, the physical shareholders can renounce his Letter of Right (LOR) by routing through his own CDC IAS Account/ Sub-Account to a shareholder who is the IAS account holder or sub account holder CDC and no credit of right shares will be allowed in book entry form against subscription of physical Letter of Right (LOR).

We shall request you to kindly approve the attached draft Letter of Intimation, Letter of Rights to Physical Shareholders, Circular under section 86 and the tentative schedule of right issue, Right Subscription Request at your earliest.

Schedule for Issuance of Letter of Rights Book Closure: from 04.06.2013 to 18.03.2013 (both days inclusive)

                                                                           Days               Date

1 Date of credit of unpaid Rights into CDC in Book Entry Form               Monday          10.06.2013

2 Dispatch of Letter of Right (LOR) to physical shareholders               Tuesday          11.06.2013

3 Intimation to Stock Exchange (s) for dispatch of physical Letter
  of Rights                                                                Tuesday          11.06.2013

4 Commencement of trading of unpaid Rights on the Karachi
  Stock Exchange (G) Ltd                                                 Wednesday          12.06.2013

5 Last date for splitting and deposit of Requests into CDS                  Monday          24.06.2013

6 Last date of trading of Rights Letter                                  Wednesday          03.07.2013

7 Last date for acceptance and payment of shares in physical
  form and CDS form                                                      Wednesday          10.07.2013

8 Allotment of shares and credit of book entry of Shares into CDC          Tuesday          30.07.2013

9 Date of dispatch of physical shares certificates                          Friday          09.08.2013

Registered Office-28 Regal Plaza, M.A. Jinnah Road, Quetta, Registrar Office: BEMA Associate (Pvt.) Ltd, Room # 515 EFU House M.A. Jinnah Road Karachi

Intimation Letter Regarding Right Entitlements Confirmation Important Notes and Instructions are Given on Page 2, which Should be Carefully Read and Followed

Issue of 9,383,550 Ordinary Shares of Rs. 10/- Each at Per Face Value of Rs. 10/- Per Share) Payable in Full on Acceptance on or before 10 July 2013

Name and Address of Shareholder Name(s) of Joint Holder(s), If Any

Accordance with the provisions of section 36 of the Companies ordinance, 1984 and the provisions of the Companies (Issue of Capital) Rules, 1996 and the decision of the Board of Directors of the Company, we are pleased to inform you that your right offer in the ratio of 03 right offer for every 16 Shares registered in your name as of 03 June 2013, have been credited into your CDS Account. Thus, physical letter of right is not required to be issued to you.

CDS Account # No. of Shares held Right Offer Credited

This right offer is now available for trading and settlements in book entry form as per scheduled dates of trading i.e. from 12 June 2013 to 03 July 2013.

The right offer (at the rate of Rupees 10/- per share) must be accepted and paid for in full to the extent of such subscription on or before 10 July 2013. For the purpose of exercising the right offer, you will have to requests the CDS participant/ Investor Account Services (IAS) department (on behalf of IAS Account holders) to initiate Right Subscription Request into CDS on your behalf. Upon execution of right subscription request, CDC participant/ IAS department will provide two copies of Right Subscription Request printouts to you to make the payment with authorized banker to the right issue for shares as mentioned in the right subscription request printout.

If any right offer is not taken up by the CDS account holder on or before 10 July 2013, then these right offers shall be deemed to have declined by you and will be treated as cancelled. In that event these will be offered to and taken up as decided by the Board of Directors of the Company as per requirement of Section 86(7) of the Companies Ordinance, 1984.

The fractional right entitlement will be consolidated and disposed of on the Stock Exchange (s) and proceeds of such sale will be distributed in due course by the Company in the manner prescribed under the provisions of the applicable laws and its articles of association.

Please note that once the Right Subscription Request has been initiated by CDC Participant/ IAS Department into CDS, right offer to the extent included in such request will be blocked and therefore, cannot be traded further.

Please also note that ordinary shares against paid Right Subscription Request will be credited into your respective CDS Account within 14 business days from the last payment date.

Circular under Section 86(3) of the Companies Ordinance, 1984 along with trading and payment details are enclosed.

Payment of Right Offer by CDS Account Holders

Detail of Trading, Subscription and Credit of Right Securities for CDS Account holders:

                         Activities                                           Date

Date of commencement of trading of unpaid right at Stock Exchange          12 June 2013
Last Date of trading of unpaid rights                                      03 July 2013
Subscription of right offer start date                                     12 June 2013
Last date of subscription of right offer                                   10 July 2013
Date of credit of right shares into CDS                                    30 July 2013

Payment Procedures:

1) Banker to Right Issue:
Summit Bank Limited

2) Exercising the Right Offer in CDS:

a) For subscription of right offer, CDS account holders will request in writing to his/her CDC participant/ IAS Department to initiate Right Subscription Request into CDS on his/ her behalf and CDC participant/ IAS Department will provide him/ her two copies of Right Subscription Request printouts enabling him/ her to make the payment with authorized banker to the right issue.

b) Right Subscription Request can be initiated for full or partial right offer.

3) Payment:

a) Payment as indicated on Right Subscription Request should be made by cash or crossed cheque or demand draft or pay order made out to the credit of “Summit Bank Limited-Right Shares Subscription Account” through any of all authorized branches in Pakistan of Summit Bank Limited on or before 10 July 2013 along with the Right-Subscription Request dully filled in any signed by the subscriber(s).

b) In case of Non-Resident Pakistani/ Foreign shareholder, the demand draft of equivalent amount in Pak Rupees should be sent to the Company Secretary, East West Life Assurance Company Limited at the head office (310, EFU House, M. A. Jinnah Road, Karachi) of the company along with the Right Subscription Request (both copies) dully filled and signed by the subscriber(s) with certified copy of NICOP/Passport well before the last date of payment.

c) All cheques and draft must be drawn on a bank situated in the same city where Right Subscription Request is deposited, Cheque is subject to realization.

d) The bank will not accept Right Subscription Request delivered by post which may reach after the closure of business on 10 July 2013 unless evidence is available that these have been posted before the last date of payment.

4) Acceptance of Payment through Right Subscription Request:

a) Payment of the amount indicated on Right Subscription Request to the Company’s Banker to the issue on or before 10 July 2013 shall be treated as acceptance of the Right offer.

b) Two copies of Right Subscription Request should be handed over to the Company’s Banker to the issue intact, Client’s copy of Right Subscription Request will be returned to the subscriber whilst issuer’s copy will be retained by the Banker for onward transmission to the Company. The Client’s copy must be preserved and retained safely by the subscriber.

For more information, contact:
Sohail Nazeer
Company Secretary
The Karachi Stock Exchange Limited
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136

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