JUTESPINN Corporate Disclosure — 20 November 2014

(Continuation of News of JUTESPINN): 3.During the year the Company's Operating Expenses include Gratuity Expenses for an amount of BDT 8,229,316.00. This Balance includes the deficit amount of provision which was required to be maintained as per last year calculation. Previous Auditor has identified the issue and modified their opinion in this regard. However management has not account for the deficit amount in compliance with Bangladesh Accounting Standards, which triggers a departure from Paragraph 43 of BAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors". The Company's records indicate that had management corrected this error retrospectively, operating expenses would have decreased. Accordingly net profit would have increased. (cont. 3)