N O T I F I C A T I O N

In pursuance to Scheme of amalgamation of Standard Chartered Bank Branch Business and Union Bank Limited with and into Standard Chartered Bank (Pakistan) Limited, sanctioned on December 4, 2006 under Section 48 of the Banking Companies Ordinance, 1962, State Bank of Pakistan in exercise of powers conferred on it by Section 27 (4) (i) of the Banking Companies Ordinance, 1962, has cancelled the banking license of Union Bank Limited with effect from the close of business today.