Board Meetings in Progress of Companies listed on the Karachi Stock Exchange.

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COMPANY               SCHEDULED ON   TIME      TO CONSIDER             R E M A R K S
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Babri Cotton Mills Ltd 07.01.2004   12:00 Noon   Annual Accounts for   Board meeting
                       Tuesday                   the year ended       is in progress
                                                 September 30, 2003
Sapphire Fibre Ltd     07.01.2004   2:00 pm      Annual Audited        Board meeting
                       Tuesday                   Accounts for the     is in progress
                                                 year ended 30th
                                                 September 2003/
                                                 declaration of any
                                                 entitlement
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