AZIZPIPES Corporate Disclosure — 15 May 2014

(continuation of news of AZIZPIPE): 6. Loan Fund: The company has continuously been defaulting in payment of instalment against short-term loan and cash credit from Uttara Bank Limited, Dutch Bangla Bank Limited and National Bank Limited, which included in Note-13, 14 & 15. The company is under process of negotiation for restructuring with those financial institutions. Both the company and Uttara Bank Limited, Dutch Bangla Bank Limited and National Bank Limited have gone into litigation to mitigate their respective grievances and such no interest has been charged during the year against those loans. However, the company management should take pragmatic actions to negotiate the matter as early as possible. (End)