Dividend/Bonus announcements by the 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
====================================================================================================
PICIC Growth Fund               06.30.2006     20% (iii)             -        -        29.05.2006 to
                                                                                          05.06.2006
PICIC Investment Fund           06.30.2006     15% (iii)             -        -        29.05.2006 to
                                                                                          05.06.2006
Shifa International Hospitals Ltd   -          -                     -    05.27.2006   18.05.2006 to
                                                                         (EOGM)*          27.05.2006
(TFC) Telecard Limited              -          -                     -        -        17.05.2006 to
                                                                         (EOGM)*        26.05.2006**
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INDICATIONS

-- EOGM to be held for the purpose of Election of Directors.
-- Book Closure for the purpose of 2nd Redemption/Profit Payment of TFC.