KASB Capital increases its investment in KASB Funds, KASB Securities and New Horizons E&P Limited

Karachi, November 7, 2007

Pursuant to the decision made by the directors of KASB Capital in their meeting held in Karachi on September 13, 2007 and the subsequent approval received from the Securities and Exchange Commission of Pakistan allowing KASB Capital Limited (Company) to increase/make new investments in associated/group companies, namely, KASB Securities, KASB Funds and New Horizon Exploration and Production Limited (NHEPL), we are pleased be informed that the transaction has been successfully concluded on November 7, 2007.

The investments include (i) PKR 700m investment into KASB Securities to support the growth of the brokerage business in Pakistan due to increasing trading volumes and exposure in the Pakistan market, with the additional capital supporting investments in systems \ infrastructure as well as the ability of the organization to meet Karachi Stock Exchange and its internal risk requirements; (ii) PKR 76m investment into KASB Funds (an additional PKR 4m have been invested by Blackrock) to complete the initial investment plan of the company which was set out on inception and (iii) PKR 50m investment into NHEPL as part of the initial investment plan for the company.

With these investments KASB Capital and its associated concerns are poised to move forward with their plans for 2008.