Mutual Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices on December 15, 2005.

==========================================================================================================

Names                         Asset Manager             Category            Offer    Repurchase   Validity

of Fund                                                                      Price       Price     (Dates)

==========================================================================================================

Alfalah GHP Value Fund        Alfalah GHP Inv. Mang.    Asset Allocat.       52.55       51.27    14-12-05

Atlas Income Fund             Atlas Asset Mang.         Income              534.01      523.54    16-12-05

Atlas Stock Mkt. Fund         Atlas Asset Mang.         Equity              640.12      627.57    16-12-05

Crosby Dragon Fund            Crosby Asset Mang.        Equity              126.40      123.90    15-12-05

Dawood Money Mkt. Fund        Dawood Capital Mang.      Income            106.7517    104.6586    16-12-05

Faysal Bal. Growth Fund       Faysal Asset Mang.        Balanced            128.26      125.62    15-12-05

Faysal Income & Growth Fund   Faysal Asset Mang.        Income              103.06      102.04    15-12-05

National Investment Trust     National Inv.  Trust      Equity               53.90       52.00    15-12-05

Meezan Islamic Fund           Al Meezan Investments     Islamic Equity       77.44       75.70    15-12-05

MSF - Perpetual               Arif Habib Investments    Income               46.08       46.03    15-12-05

MSF - 12/05                   Arif Habib Investments    Income               52.11       52.06    15-12-05

MSF - 12/07                   Arif Habib Investments    Income               48.99       48.94    15-12-05

MSF - 12/12                   Arif Habib Investments    Income               54.60       54.55    15-12-05

Pakistan Income Fund          Arif Habib Investments    Income               52.68       51.97    15-12-05

Pakistan Stock Market Fund    Arif Habib Investments    Equity              119.87      116.87    14-12-05

Pakistan Cap Market Fund      Arif Habib Investments    Equity               15.27       14.89    14-12-05

----------------------------------------------------------------------------------------------------------

United Money Mkt. Fund

----------------------------------------------------------------------------------------------------------

                              United AMC                Class 'A'         104.6513   104. 6513    15-12-05

                              United AMC                Class 'C'        104. 6513    103.6048    15-12-05

Unit Trust of Pakistan        ABAMCO                    Balanced          9,052.22    8,788.55    15-12-05

UTP Income Fund               ABAMCO                    Income              547.17      536.44    15-12-05

UTP Islamic Fund              ABAMCO                    Islamic Equity      758.45      736.35    15-12-05

UTP - Agg. Asset Alloc.       ABAMCO                    Equity               89.30       86.69    15-12-05

UTP - Fund of Funds.          ABAMCO                    Equity               55.61       54.51    15-12-05

==========================================================================================================

CLOSED-END FUND NAVs:

==========================================================================================================

Names of Fund                 Investment Advisor            Category              NAVs    Validity (Dates)

==========================================================================================================

ABAMCO Growth Fund            ABAMCO                          Equity              39.16           15-12-05

ABAMCO Comp. Fund             ABAMCO                          Equity              13.07           15-12-05

ABAMCO S.M. Fund              ABAMCO                          Equity              20.63           15-12-05

ABAMCO Capital Fund           ABAMCO                          Equity              18.92           15-12-05

AKD Index Tracker Fund        AKD Investments                 Equity              10.41           15-12-05

Al Meezan Mutual Fund         Al Meezan Investments           Equity              17.10           15-12-05

Asian Stocks Fund             Asian Cap. Mang.                Equity                N/A                  -

Atlas Fund of Funds           Atlas Asset Mang.               Equity              11.48           15-12-05

BSJS Balanced Fund            ABAMCO                         Balanced             16.55           15-12-05

First Dawood M. Fund          Dawood Capital Mang.            Equity              12.40           15-12-05

First Cap. Mutual Fund.       First Capital Inv. Ltd          Equity              11.23           15-12-05

Golden Arrow Stock Fund       AKD Investments                 Equity             10. 55           15-12-05

Meezan Balanced Fund          Al Meezan Investments       Islamic Balanced        12.36           15-12-05

Pakistan Premier Fund         Arif Habib Investments          Equity              18.33           14-12-05

Pakistan S.A. Fund            Arif Habib Investments          Equity              13.99           14-12-05

PICIC Investment Fund         PICIC Asset Mang.               Equity            23.29 *           14-12-05

PICIC Growth Fund             PICIC Asset Mang.               Equity            57.74 *           14-12-05

Prudential Stock Fund         Prudential Fund Mang.           Equity                N/A                  -

Safeway Mutual Fund           Safeway Mang.                   Equity                N/A                  -

==========================================================================================================