July 26, 2012

Dear CDS Element,

This is to inform you that the Registrar / Transfer Agent of Telecard Limited for its Ordinary Shares and Term Finance Certificates has been changed to JWAFFS Registrar Services (Pvt.) Limited (R/TA ID C00598) with effect from July 24, 2012.

Should you have any queries or concerns, please feel free to call our Customer Support Services at 0800-CDCPL (23275).

Regards,

Ejaz Ali Shah

General Manager - Head of Marketing &

Customer Support Services