Board Meetings of Companies listed on the Karachi Stock Exchange.

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Company                      SCHEDULED ON     TIME       PLACE                          TO CONSIDER
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Pioneer Cement Limited       06.07.2004      2:00 pm     Lahore                and to approve issue
                             Tuesday                                                of right shares
                                                                       to the existing shareholders
                                                                           to finance the expansion
                                                                           project from 2350 metric
                                                                           tons to 6350 metric tons
                                                                                 of clinker per day
                                                                                 AND to approve the
                                                                               terms and conditions
                                                                             of the re-profiling of
                                                                                all loans of former
                                                                       National Development Finance
                                                                      Corporation and National Bank
                                                                                  of Pakistan (NBP)
                                                                             finalised with NBP and
                                                                          with Saudi Pak Industrial
                                                                        and Agricultural Investment
                                                                                  Company (Pvt) Ltd
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