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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Pioneer Cement Ltd         -               -                 -       04.08.2004              -
                                                                     (EOGM)*
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Indications
* = Pioneer Cement Ltd
- EOGM to be held for the purpose to pass special resolution as under:
"RESOLVED" that the Company be and is hereby authorised to issue subject to approval of the Securities & Exchange Commission of Pakistan, 1,160,000 (one million one hundred sixty thousand) ordinary shares of Rs 10/- each at the premium of Rs 13/- on each share, ie @Rs 23/- per share to National Bank of Pakistan as debt equity swap."