(Continuation news of PROGRESLIF): a) As disclosed in Annexure A of note 14 of the financial statements, management describes the reason for not charging depreciation on Flats at Eastern Arzoo, 61, Bijoynagar, Dhaka (2nd, 4th, 8th floor (2732 sq.ft.) & 7th floor, (unit 7/1-8, 3777 sq. ft.) Note Annexure-A: Based on the straight-line method of depreciation and annual rate of 2.5% for the building as per the company policy, management has decided not to (cont. 5)