NORTHERN Corporate Disclosure — 11 November 2014

Malek Siddiqui Wali, the auditor of the company has given the following 'Emphasis of Matter' paragraph in the audited financial statements prepared for the year ended on 30 June 2014. Emphasis of Matter: Without qualifying our opinion, we draw attention to Note No. 20 (Revenue) to the financial statements. Company resumed export jute/twine from November 2013. In order to meet the immediate cash requires to pay-off the loan liability, the company had to generate immediate cash by selling the product locally amounting BDT. 72,600,216.00 out of which BDT. 50,020,166 was received through banking channel and rest was received cash. However, company preserve money receipt for cash sales.