Dates of despatch of dividend warrants and bonus share certificates.

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Company                   Year Ended/Ending  Dividend/Bonus           Dispatched on
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Gul Ahmed Textile Mills Ltd    30.09.2003     30% Dividend               26.01.2004
Guardian Modaraba              30.06.2003     8.8% Dividend              26.01.2004
(Formerly First Providence Modaraba)
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