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

================================================================
CLEARING SCHEDULE FOR T+3 SYSTEM FOR THE MONTHS OF
                       APRIL & MAY 2007
================================================================
TRANSACTION     TRANSACTION      SETTLEMENT           SETTLEMENT
DATE            DAY              DATE                        DAY
================================================================
19.04.2007     Thursday          24.04.2007              Tuesday
20.04.2007     Friday            25.04.2007            Wednesday
23.04.2007     Monday            26.04.2007             Thursday
24.04.2007     Tuesday           27.04.2007               Friday
25.04.2007     Wednesday         30.04.2007               Monday
26.04.2007     Thursday          02.05.2007            Wednesday
27.04.2007     Friday            03.05.2007             Thursday
30.04.2007     Monday            04.05.2007               Friday
02.05.2007     Wednesday         07.05.2007               Monday
03.05.2007     Thursday          08.05.2007              Tuesday
04.05.2007     Friday            09.05.2007            Wednesday
07.05.2007     Monday            10.05.2007             Thursday
08.05.2007     Tuesday           11.05.2007               Friday
09.05.2007     Wednesday         14.05.2007               Monday
10.05.2007     Thursday          15.05.2007              Tuesday
11.05.2007     Friday            16.05.2007            Wednesday
14.05.2007     Monday            17.05.2007             Thursday
15.05.2007     Tuesday           18.05.2007               Friday
16.05.2007     Wednesday         21.05.2007               Monday
17.05.2007     Thursday          22.05.2007              Tuesday
18.05.2007     Friday            23.05.2007            Wednesday
21.05.2007     Monday            24.05.2007             Thursday
22.05.2007     Tuesday           25.05.2007               Friday
23.05.2007     Wednesday         28.05.2007               Monday
24.05.2007     Thursday          29.05.2007              Tuesday
25.05.2007     Friday            30.05.2007            Wednesday
28.05.2007     Monday            31.05.2007             Thursday
29.05.2007     Tuesday           01.06.2007               Friday
30.05.2007     Wednesday         04.06.2007               Monday
31.05.2007     Thursday          05.06.2007              Tuesday
================================================================

NOTES:
1).Holiday: Labour Day 01.05.2007 (Tuesday).
2).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.