Ref : No M&z/IMR/

Ref : No M&Z/HZQ/27716

Registered A/DThursday, February 17, 2005.

1.M/s. Arain Corporation

(The Borrower/Firm)

Shop No. 91-B,

Ghallah Mandi, Sahiwal

2.Mr Ch. Haji Muhammad Rafique

S/o Ch Imam Din

(The Partner//Guarantor).

R/o House No 75-A, Block West Scheme # 02, Farid Town , Sahiwal.

3.Mr Ch. Waqas Rafique

S/o Ch Muhammad Rafique

(The Partner//Guarantor).

R/o House No 75-A, Block West Scheme # 02, Farid Town , Sahiwal.

4.Mr Ch. Farrukh Bari.

S/o Ch Ghulam Bari.

(The Partner//Guarantor).

R/o Chak # 134/9-L, P.O 134/9-2, Tehsil & Dist , Sahiwal.

5.Mr Ch. Munawar Ahmad.

S/o Ch Ali Bukhsh.

(The Mortgagor/Guarantor).

R/o House # 55, Block V, Farid Town, Sahiwal.

Dear Sir/s,

Re : FIRST 14 DAYS LEGAL NOTICE UNDER SECTION 15 OF THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCES) ORDINANCE 2001 (THE ORDINANCE).We act on behalf of Soneri Bank Limited, a banking company incorporated and existing under the laws of Pakistan and having its Registered Office at 4th Floor I.E.P. Building, Gulberg-III, Lahore and a Branch Office at High Street, Sahiwal (hereinafter referred to as the Client). This First Legal Notice is in continuation of the Clients repeated requests and the Demand Notice even of dated 12.02.2005 regarding payment of the mortgage money outstanding with the Client, the facts and circumstances whereof are explained below:

1.That the Client had granted M/s. Arain Corporation (the Firm) finance facility viz: Running Finance (the Finance Facility) and the repayment of which is inter-alia secured by Mortgage of the Residential House No 55, Block V, Farid Town, Sahiwal over a piece of Land measuring Five (05) Marlas (the Property) and owned by Mr. Munawar Ahmad S/o Ali Bukhsh (the Mortgagor) in favour of the Client.

2.That the Firm as well as the Partners / Guarantors / Mortgagors have defaulted to repay the Finance Facility to the Client as per agreed arrangements with the result that an outstanding amount of Rs 1,041,692/- Rupees One Million Forty One Thousand Six Hundred Ninety Two Only) (due and payable by 16.02.2005) alongwith accruing markups is due and payable by all of you to the Client; as on date of this Notice.

3.That despite the repeated requests and reminders by the Client, you (the Firm/Partners/Guarantors/Mortgagors) have failed to discharge your liability and repay the outstanding amount. Therefore, we are left with no option but to take necessary action in this regard and call upon all of you to forthwith repay the outstanding liabilities.

We, therefore by this First Legal Notice do hereby call upon you (1 to 4 above), and the Mortgagor in particular to pay to the Client, the due sum of finance facility of Rs 1,041,692/- (Rs One Million Forty One Thousand Six Hundred Ninety Two Only) alongwith markup, which is outstanding against the Registered Mortgage and Equitable Mortgage executed and created by you, within Fourteen (14) days from the receipt of this Notice, failing which the Client shall be constrained to exercise the powers conferred by Section 15 of the Ordinance, to take possession of the Mortgaged/Hypothecated property and to sell the Property without intervention of the Court by public auction or private treaty without giving you any further notice for adjustment and payment of your liabilities outstanding as stated in this First Legal Notice and in the alternative to initiate legal proceedings against you in a Court of Law and appropriate the sale proceeds thereof towards full or partial, as the case may be, satisfaction of the Mortgage Money/Outstanding amount.

Please note that should the Client be forced to institute sale proceedings, the cost of such proceedings and the risk as to consequences thereof shall be entirely on your account.

THIS IS WITHOUT PREJUDICE TO ANY CLAIMS, RIGHTS AND REMEDIES, WHICH ARE LAWFULLY AVAILABLE TO OUR CLIENT IN A COURT OF LAW.

Yours faithfully,

Mandviwalla & Zafar

Note; We have retained a copy of this first legal notice for our record.