AGTL

Al-Ghazi Tractors Limited is committed to high ethical
standards and compliance with the law in all its
operations including, without limitation, applicable
securities laws and regulations, accounting standards,
accounting controls and audit practices. The company
requires all employees to report illegal activity or
activities not in compliance with company policies,
including the Code of conduct, in order to assist in
detecting and putting an end to any fraud, unlawful
conduct, and questionable accounting or auditing matters.

These may include, without limitation, the following:

* Fraud or deliberate error in the preparation, evaluation, review or audit of any financial statement of the
..company;

* Fraud or deliberate error in the recording and maintaining of financial records of the company;

* Misrepresentation or false statement to or by a senior officer or accountant regarding a matter contained in
..the financial records, financial reports or audit reports of the company; or

* Matters referred to in the Code signed by the employee.

1. The employee may send the report to his superior officer or the Chief Internal Auditor by signing the report.

2. The company will conduct a comprehensive investigation taking such actions as deemed advisable.

3. Complaints relating to accounting matters will be reviewed under Audit Committee direction.

4. The company will not discharge, demote, suspend, threaten, harass or in any manner discriminate against any
..employee in the terms and conditions of employment based upon any lawful actions of such employee with respect
..to good faith reporting of complaints regarding accounting matters or otherwise.

5. Company Secretary is the designated "Complaint Resolution Officer" for any internal conflict resolution. The
...CEO can also be reached when-ever desired.