Dividend/Bonus Announcements by Companies listed on the Karachi Stock Exchange.

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                        FOR THE YEAR            PROFIT/(LOSS)   ANNUAL         CLOSURE OF
                         ENDED/HALF/  DIVIDEND/    AFTER        GENERAL             SHARE
                         YEAR ENDED    BONUS/    TAXATION       MEETING          TRANSFER
COMPANY                QUARTER ENDED   RIGHT   (Rs in million)    ON                BOOKS
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PICIC Comm Bank          31.12.2003    40% (R)x   621.412      26.03.2004   16.03.2004 to
                                                               10:00 am        26.03.2004
Nestle Milkpak           31.12.2003    40%        758.837      27.03.2004   21.03.2004 to
                                                               10:30 am        28.03.2004
Fauji Fertilizer Co      31.12.2003    15% (F)   3144.509        -          15.03.2004 to
                                                                            21.03.2004 xx
National Refinery        31.12.2003    25% (i)    838.024*       -          17.02.2004 to
                                                                               24.02.2004
Transmission Engg        31.12.2003    -            0.189*       -                      -
Noor Silk Mills Ltd      31.12.2003    -            0.133*       -                      -
Pakistan Venture
 Capital Limited         31.12.2003    -            2.715*       -                      -
Dawood Money
 Market Fund Managed by:
Pakistan Venture
 Capital Ltd             31.12.2003    -           27.200*       -                      -
Bestway Cement           31.12.2003    -          236.397*       -                      -
Chakwal Spinning         31.12.2003    -          (25.553)**     -                      -
Yousaf Weaving           31.12.2003    -          (17.633)**     -                      -
Kohinoor Spinning        31.12.2003    -          (29.036)**     -                      -
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Indications
(i) - Interim dividend.
(F) - Final Dividend.
-- Accounts for the half year ended - 31.12.2003
-- Accounts for the 1st quarter ended - 31.12.2003
-- PICIC Comm. Bank Limited
-- Right shares at premium of Rs 15.00 (fifteen) per share on the face value of Rs 10.00 (ten), in the proportion of 40 (forty) shares for every 100 (one hundred) shares held, ie 40%.
xx = Revised dates of Share Transfer Books.