The New Nation - Internet Edition

BUSINESS REPORT

The Board of Directors of BRAC Bank Limited has 'decided in principle' (subject the necessary regulatory approval) to acquire 1,946,500 (One million nine hundred forty six thousand five hundred) numbers of new shares of GSP Finance, which it has proposed to sell to BRAC Bank Ltd. The total number of shares of GSP Finance after issuing of 1,946,500 (One million nine hundred forty six thousand five hundred) fresh shares will be 3,816,500 (three million eight hundred sixteen thousand five hundred) number of shares.

BRAC Bank agreed in principle to acquire the whole issue i.e. 1,946,500 (One million nine hundred forty six thousand five hundred) numbers of shares which will be the 51 % of the post issue paid up share capital of the company.

A Memorandum of Understanding has been signed between GSP Finance and BRAC Bank Ltd to this effect on May 8, 2008.