About Company RAK Ceramics (Bangladesh) Limited, a UAE-Bangladesh joint venture company, was i ncorporated in Bangladesh on 26 November, 1998

as a company limited by shares un der the Companies Act 1994 and started its commercial production on 12 November, 2000. The Company engaged in manufacturing and marketing of ceramics tiles, bat hroom sets and all types of sanitary ware. Within the short span of eight years RAK has firmly established itself as one of the leading manufacturer of high qua lity ceramic wall, floor tiles, gres porcellanato and sanitary wares products in Bangladesh. RAK Ceramics (Bangladesh) Limited is an ISO 9001:2008 certified org anization. RAK Ceramics PSC, UAE incorporated in 1989, is the parent company of RAK Ceramic s (Bangladesh) Limited. In October 2003 RAK Ceramics PSC, UAE was listed on Abu Dhabi Stock market (ADX). RAK Ceramics Group as whole has a manufacturing facili ties in UAE, Bangladesh, China, Sudan, Iran & India. The company opted for a lon g-term policy; to produce quality products, to be a respectable partner and to k eep its customers satisfied. RAK Ceramics PSC, UAE drive for excellence and an i nsatiable appetite for quality and customer satisfaction were accredited with th e ISO 9001 certification by CICS (Ceramic Industry Certification Scheme), UK in 1997 & ISO 14001 in 2008. At present, the companys products are being exported to more than 135 countries across five continents & has well established dealers di stribution network in more than 100 countries. Through its strong business franchise and financial performance, the Company is a regular recipient of business accolades. RAK Ceramics PSC was adjudged as Company of the Year by Arabian Business Achieveme nt Award for 2004 and in 2005; RAK Ceramics was awarded the Mohammed Bin Rashid Al Maktoum Business Award for t he Industry sector. In 2006, RAK Ceramics was rated 5A2, highest in the region of Middle East, by Dun & Bradstreet. In 2007, UK based Brand-Finance PLC rated the RAK Ceramics brand as one of the t op four valuable brands in the UAE with a rating of AA-. In 2008, a Washington DC, USA based Georgetown University has selected RAK Ceram ics as subject of pedagogic case to form part of their course material for globa l manufacturing studies in MBA programme curriculum. In June 2009 RAK Ceramics has been awarded the SUPER BRAND for 2009 by the council of SUPERBRANDS which is the worlds largest independent Brand arbiter, Certain technology drivers & noteworthy achievement as follows: RAK Ceramics has been officially recognized as the worlds largest ceramic tile ma nufacturer by the Ceramic World Review, the best known and most widely circulate d international magazine devoted to ceramic tile and sanitary ware production te chnologies. UAE operation is single largest ceramics manufacturing facility in the world. RAK Ceramics was one of the pioneers in installing unique equipment. It was the first company to install the largest press in the industrythe PH 7200enabling it to produce ceramic slabs as large as 125 cm by 185 cm RAK Ceramics also offered several unique and proprietary technical products like luminous tiles (tiles that emitted light in the dark, which took two years and several trials to develop), antimicrobial tiles (tiles that inhibited growth of bacteria), and custom-made designs by water jet. The range of RAK Ceramics products is unmatched with over 6000 tiles models & ov er 600 sanitary models. Smallest mosaics of size 2 cm x 2 cm and tiles of 10 cm x 10 cm to the largest slab in the industry 125 cm x 185 cm

Nature of business The core business of RAK Ceramics (Bangladesh) Limited is to manufacture and sel l of tiles and sanitary wares. The company has over 1000 models active in the ce ramic and porcelain tile business and regularly adds several new designs to the product portfolio. The company manufactures tiles in a very wide range of tiles in the sizes from 13 cm X 13 cm up to 60cm X 60cm in Bangladesh location. The co mpany has over 40 models an exclusive range of sanitary ware to offer with a ver y wide choice. In sanitary ware various models are produced in wash basins (moun ted as well as pedestal), water closets, bathroom sets, bath tubs, shower trays, bathroom cabinets, accessories and decorated sets. Principal products and services RAK Ceramics (Bangladesh) Limited has been manufacturing and supplying a wide ra nge of tiles and sanitary wares in the ceramic sector of Bangladesh since 2000. Excellent designs and pattern can be created using specially selected wall and f loor tiles, borders, corners, listellos and capping. Many of RAK Ceramics models come in modular designs, making it easier for the customer. The unique ambience patterns created using ceramic tiles and also Gres porcellanato tiles appeals mo st discerning customers. The company has two product lines, which are Tiles and Sanitary Ware. The company recently set up large scale Effluent Treatment Plant (ETP) to reduce environmental hazard, which started operation end of March, 2009 . A. Tiles In the Ceramic Range, the company produces ceramic wall tiles, ceramic floor til es, matching border & dcor tiles, listellos and pencils & capping and few other r elated items. In Gres Procellanato (porcelain / fully vitrified tiles), the company produces t housands of glazed and unglazed porcelain, covering finishes such as polished, s emi polished, unpolished, rustic, stone, travertine etc. In Bangladesh with three fold expansion Drive Company has reach capacity to prod uce over 8 million square meters of tiles per annum & has over 1000 different ti les models recipe. The salient features of the plants are: - Gang of modern technological machineries: versatile 5 press, long range 5 kiln s & multipurpose 12 ball mills. - Latest equipment & technological application: Some unique patterns and finishe s are acquired through new technologies such as Roto Printing, Double charge, Gr anitech, MDR, Technoslate, Twin Press and Dry Glaze etc. Some unique antique styl e finishes and many specialized finishes in tiles have been possible due to such advanced Gres Procellanto technology. - Modern European machinery: robotic controlled TGV machines. Computer controlle d guided vehicles transferred semi finished goods from station to station, robot s picked and placed semi finished tiles in many production steps as well as in s orting and packing the finished tiles, skilled technicians in sophisticated cont rol rooms monitored raw materials in blending mills, wet and dry grinding vessel s, presses, kilns, drying and cooling cycles, and many other operations. - Water jet cutting technology machines: Facilitate unique water jet designs, an d diamonds cutting machine tools help make beautiful vanity tops from gres proce llanato slabs. - High Quality inputs: Imported raw materials like soda feldspar, potash feldspa r, clays from India, Indonesia, Malaysia, Thailand. Fritz & glazes from Spain & other European countries. - Ceramist R& D activity: Active team of ceramist to challenge customer demand & device cost effective input recipe solutions.

B. Sanitary Ware In sanitary ware, various models of wash basin (mounted as well as pedestal), wa ter closets (WC) and water tank (WT) accessories and decorated sets are produced . State of the art plants produces over 900,000 pieces per annum & over 40 differe nt models of sanitaryware. The salient features of the plants are: - Latest Italian Technology: For production including computerized kilns. - 6 Medium Pressure Casting Plants: For production of wash basin, pedestals, cis terns, lids and accessories. - Battery Casting Moulds: To produce water closets. - Highest Quality Raw Materials: Ball clay and kaolin from U.K., glazes from Spa in and stains from Germany. - In House Quality Control and Testing: A laboratory of the highest standard. Financial Performance Particulars For the year ended 31 December 2010 (Amount in BDT) For the year ended 31 December 2009 (Amount in BDT) For the year ended 31 December 2 008 (Amount in BDT) For the year ended 31 December 2007 (Amount in BDT) For the year ended 31 December 2006 (Amount in BDT) Turnover 4,009,021,454 3,839,025,765 3,247,985,878 2,335,391,844 1,955,084,231 Cost of sales 2,505,064,934 2,631,407,137 2,315,174,472 1,530,281,434 1,373,986,480 Gross profit 1,503,956,520 1,207,618,628 932,811,406 805,110,410 581,097,751 Administration expenses 241,668,871 82,800,380 73,707,617 59,105,227 33,433,886 Marketing & Selling exp 509,086,847 425,856,574 341,821,145 233,010,201 188,129,683 Net profit before financial expense 753,200,802 698,961,674 517,282, 644 512,994,982 359,534,182 Financial expense 97,574,871 185,707,263 141,170,017 85,258,6 35 81,449,145 Other income 148,471,774 7,160,230 1,907,872 6,782,770 541,758 Net profit before taxation 804,097,705 520,414,641 378,020,499 434,519,117 278,626,795 Tax expenses 294,245,394 207,143,340 91,619,346 131,944,473 100,656,277 Net profit after taxation 509,852,311 313,271,301 286,401,153 302,574,644 177,970,518 Minority Interest (96,668,798) (11,305,618) ---Net profit after Minority Interest 606,521,109 324,576,919 286,401, 153 302,574,644 177,970,518 No. of shares outstanding 215,731,226 185,563,500 185,563,500 185,563,500 185,563,500 Earnings per share (EPS) 2.81 1.75 1.54 1.63 0.96 Short Bio-Data of the Directors Dr. Khater Massaad, Chairman (Nominee of RAK Ceramics PSC, UAE) Dr. Khater Massaad has played an instrumental role along with H.H. Sheikh Saud B in Saqr Al Qassimi, The Ruler of Ras Al Khaimah in founding RAK Ceramics in 1991 . Dr. Massaad holds a PhD in Geophysics from the University of Lausanne, Switzer land and an MSc in Mathematics, He is also at the helm of Ras Al Khaimahs recent

ambitious initiatives like property developer RAKEEN, infrastructure developer R AKIA and Al Hamra Real Estate Development LLC, among others. Dr. Massaad was assigned the position of Project Manager for various underground w ater projects in the UAE and in the Sultanate of Oman. Thereafter, he envisioned a major plan for a ceramic factory in the Emirate of Ras Al Khaimah and establi shed and managed RAK Ceramics. Under his stewardship, RAK Ceramics Co. PSC was adjudged the Company of the Year b y Arabian Business Achievement Award for 2004 and in 2005, RAK Ceramics was awar ded the Mohammed Bin Rashid Al Maktoum Business Award for the industry sector. I n 2007, he received the prestigious fDi Personality of the Year 2007- Middle Ea st award presented by fDi Magazine, part of the Financial Times group of London . This award was in recognition of Dr. Massaads diligent and successful effort to attract foreign investment to Ras Al Khaimah, contributing greatly to the econo mic growth and development of the Emirate and adding to its attraction as an inv estment location. He is also CEO of the RAK Investment Authority (RAKIA). Mr. S.A.K. Ekramuzzaman, Managing Director Mr. S.A.K. Ekramuzzaman is one of the local investors in Bangladesh with equity partnership in Ras Al Khaimah companies (RAK), one of the seven Emirates of the UAE. Besides managing diversified business interests at home, he possesses a num ber of joint venture projects that are currently operating in Bangladesh with a few waiting commissioning. His business interests involve products ranging from ceramics to shopping malls and many more. Mr. Ekramuzzaman has equity interest in RAK Ceramics (Bangladesh) Ltd., RAK Powe r, RAK Securities and Services, RAK Pharmaceuticals Swiss Bangladesh Agro Fisher ies, MASRAM Plantation, KEA Printing and Packaging, Green Planet Communications and Better Business Associates Limited, among others.