Mutual Funds Association of Pakistan

Mutual Funds Association has issued open-end funds daily prices on December 20, 2005.

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Names                           Asset Manager               Category                 Offer       Repurchase       Validity

of Fund                                                                               Price         Price          (Dates)

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Alfalah GHP Value Fund          Alfalah GHP Inv. Mang.       Asset Allocat.           52.54           51.26       20-12-05

Atlas Income Fund               Atlas Asset Mang.            Income                  534.89          524.40       21-12-05

Atlas Stock Mkt. Fund           Atlas Asset Mang.            Equity                  639.90          627.35       21-12-05

Crosby Dragon Fund              Crosby Asset Mang.           Equity                  125.40          123.05       21-12-05

Dawood Money Mkt. Fund          Dawood Capital Mang.         Income                     -               -                -

Faysal Bal. Growth Fund         Faysal Asset Mang.           Balanced                   -               -                -

Faysal Income & Growth Fund     Faysal Asset Mang.           Income                  103.20          102.17       20-12-05

National Investment Trust       National Inv.  Trust         Equity                   53.20           51.30       20-12-05

Meezan Islamic Fund             Al Meezan Investments        Islamic Equity           76.80           75.07       20-12-05

MSF - Perpetual                 Arif Habib Investments       Income                   46.12           46.07       20-12-05

MSF - 12/05                     Arif Habib Investments       Income                   52.14           52.09       20-12-05

MSF - 12/07                     Arif Habib Investments       Income                   49.06           49.01       20-12-05

MSF - 12/12                     Arif Habib Investments       Income                   54.74           54.69       20-12-05

Pakistan Income Fund            Arif Habib Investments       Income                   52.76           52.05       20-12-05

Pakistan Stock Market Fund      Arif Habib Investments       Equity                  118.96          115.99       19-12-05

Pakistan Cap Market Fund        Arif Habib Investments       Equity                   15.10           14.72       19-12-05

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United Money Mkt. Fund

                                UBL Fund Managers Ltd        Class ''A''             104.7916       104. 7916       21-12-05

                                UBL Fund Managers Ltd        Class ''C''            104. 7916        103.7437       21-12-05

Unit Trust of Pakistan          ABAMCO                       Balanced              9,047.19        8,783.67       20-12-05

UTP Income Fund                 ABAMCO                       Income                  547.81          537.06       20-12-05

UTP Islamic Fund                ABAMCO                       Islamic Equity          761.81          739.62       20-12-05

UTP - Agg. Asset Alloc.         ABAMCO                       Equity                   88.87           86.27       20-12-05

UTP - Fund of Funds.            ABAMCO                       Equity                   55.83           54.73       20-12-05

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CLOSED-END FUND NAVs:

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Names of Fund                 Investment Advisor            Category                        NAVs          Validity (Dates)

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ABAMCO Growth Fund              ABAMCO                        Equity                       39.11                  20-12-05

ABAMCO Comp. Fund               ABAMCO                        Equity                       13.05                  20-12-05

ABAMCO S.M. Fund                ABAMCO                        Equity                       20.58                  20-12-05

ABAMCO Capital Fund             ABAMCO                        Equity                       18.86                  20-12-05

AKD Index Tracker Fund          AKD Investments               Equity                       10.43                  20-12-05

Al Meezan Mutual Fund           Al Meezan Investments         Equity                       16.90                  20-12-05

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

Atlas Fund of Funds             Atlas Asset Mang.             Equity                       11.55                  20-12-05

BSJS Balanced Fund              ABAMCO                        Balanced                     16.48                  20-12-05

First Dawood M. Fund            Dawood Capital Mang.          Equity                       12.25                  20-12-05

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

Golden Arrow Stock Fund         AKD Investments               Equity                      10. 53**                20-12-05

Meezan Balanced Fund            Al Meezan Investments         Islamic Balanced             12.28                  20-12-05

Pakistan Premier Fund           Arif Habib Investments        Equity                       18.10                  19-12-05

Pakistan S.A. Fund              Arif Habib Investments        Equity                       13.87                  19-12-05

PICIC Investment Fund           PICIC Asset Mang.             Equity                       23.38 *                16-12-05

PICIC Growth Fund               PICIC Asset Mang.             Equity                       57.93 *                16-12-05

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

Safeway Mutual Fund             Safeway Mang.                 Equity                        N/A                          -

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