Karachi Stock Exchange's Clearing Schedule for T+3 System.

================================================================
CLEARING SCHEDULE FOR T+3 SYSTEM OCTOBER & November 2005
================================================================
TRANSACTION     TRANSACTION      SETTLEMENT           SETTLEMENT
DATE            DAY              DATE                        DAY
================================================================
07.10.2005      Friday           12.10.2005            Wednesday
10.10.2005      Monday           13.10.2005             Thursday
11.10.2005      Tuesday          14.10.2005               Friday
12.10.2005      Wednesday        17.10.2005               Monday
13.10.2005      Thursday         18.10.2005              Tuesday
14.10.2005      Friday           19.10.2005            Wednesday
17.10.2005      Monday           20.10.2005             Thursday
18.10.2005      Tuesday          21.10.2005               Friday
19.10.2005      Wednesday        24.10.2005               Monday
20.10.2005      Thursday         25.10.2005              Tuesday
21.10.2005      Friday           26.10.2005            Wednesday
24.10.2005      Monday           27.10.2005             Thursday
25.10.2005      Tuesday          28.10.2005               Friday
26.10.2005      Wednesday        31.10.2005               Monday
================================================================

NOTES:
(1) If any necessity arises, the Karachi Stock Exchange reserves the right to alter or vary the above dates. In case any settlement is postponed for whatsoever reasons, the same shall take place on the next working day.