Date: 20-02-2012

From: Al-Arafah Islami Bank Limited, Uttara Model Town Branch, Dhaka

To: The Honorable Managing Director, Al-Arafah Islami Bank Limited,Head Office, Dhaka

Subject: Net Security value of M/s. Fulpur Knit and Garments Limited, a customer of our branch.

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As per verbal instruction had with you, we have furnished the following information regarding valuation of mortgaged property of the above client for your ready reference-

S.N. Location of mortgage property

Area (Decimal)

MSV FSV

01. Shataish, Tongi, Gazipur 102.42 Tk. 534.08 lac

480.61 lac

Less

52 decimal land vested property declared by Special Audit

52.00 Tk. 271.16 lac

244.01 lac

Rest Asset Value 50.42 Tk. 262.92 lac

236.60 lac

Add Additional collateral security provided by the client in lieu of vested property at Shataish, Tongi, Gazipur

12.00 Tk. 108.00 lac

86.00 lac

Total Asset Value 62.42 Tk. 370.92 lac

322.60 lac

Add Mutation of vested property (declared by the special audit) has been completed & submitted to the bank by the customer

48.00 Tk. 250.30 lac

225.24 lac

Net Asset Value 110.42 Tk. 621.22 lac

547.84 lac

02. Factory building (Three storied with 9,000 sqf in each floor) on 22.28 decimal land in the name of the Chairman of the company

Tk. 603.46 lac

482.77 lac

Net Security Value Tk. 1224.68 lac

1030.61 lac

(Md. Zakir Hossain)Senior Vice President & Manager