On 12 December 1996, the Government of Pakistan notified SGS that the
PSI Agreement would be terminated with effect from 11 March 1997. In
January 1998, SGS initiated a claim against Pakistan in the Swiss courts
with respect to the termination of the PSI Agreement and non-payment of
its invoices. Various lower Swiss courtsrejected SGS’s claims, and the Swiss
proceedings finally concluded with the Swiss Federal Tribunal’s denial of
SGS’s appeal on 23 November 2000