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Apr 24 - 30, 2000

INTEL DEMONSTRATES FASTEST DESKTOP

Intel Corporation opened the Asia Pacific Intel Developer
Forum by demonstrating the capabilities of the company's fastest microprocessor, code-named "Willamette." The demonstration was displayed for the first time in Asia at the forum in Taipei, Taiwan.

Based on a new microarchitecture from Intel, Willamette is due to be introduced later this year, Intel Senior Vice President Albert Yu announced in his address. Yu preceded keynotes by Intel Vice President Pat Gelsinger on desktop PC innovation for the new millennium and Intel Vice President Robert Jecmen on Internet and e-Business with Intel mobile solutions.

"The year 2000 will be Intel's biggest product year ever," Yu said. "We will introduce two new microarchitectures in Willamette for desktops and Itanium™ for servers and workstations, as well as a 'smart integration' processor code-named 'Timna' designed for value PCs. Intel is pleased to offer this performance technology to the Internet economy."

Yu also announced the Chinese-translated name of Itanium—the first in Intel's IA-64 processor line due to be introduced later this year for high-end servers and workstations. The Chinese name of Itanium is pronounced "An-Teng" in English.

ICI Pakistan Signs Agreement With DuPontp

ICI Pakistan has recently concluded discussions with DuPont Pharmaceuticals with an agreement to market and distribute their range of pharmaceutical products in Pakistan. Mr Munnawar Hamid, Chairman & Chief Executive ICI Pakistan Limited and Mr Jon Walley, Vice-President International, DuPont Pharmaceuticals signed the agreement in Wilmington, Delaware on 31 March 2000. Mr Hamid was accompanied by Mr Rashiq Sufi, Executive Director and Mr Jehanzeb Khan, Business Manager Pharmaceuticals Business. Ms Raquel Garcia, Sr Director International Division, DuPont was also present on the occasion.

ICI Pakistan Pharmaceuticals Business markets prescription drugs with a strong portfolio of innovative products from AstraZeneca Pharmaceuticals. With a focused range of products in the cardiovascular segment, the Business also specialises in drugs for the treatment of cancer. The Business additionally represents Schering-Plough's range of veterinary products, and has a leading position in the livestock segment with products which are respected in the industry as market leaders.

The addition of the DuPont Pharmaceuticals range later this year will add complementary speciality products in the cardiovascular and pain management segments.

PROGRESSIVE FINANCIAL CONSULTANY (PRIVATE) LIMITED

A collage of financial services offered from one place is a novel concept in Pakistan. Banks, leasing companies, modarabas and other DFls are providing a large variety of financial products and services but they are not necessarily catered to meet specific individuals' needs.

Progressive Financial Consultancy (Pvt.) Limited is first of its kind in the country and was established in 1998 under Companies Ordinance 1984 by a group of veteran bankers who have exposure in working within Pakistan and several foreign countries in Middle East, Far East, Europe and Americas. PFC is involved in providing a multitude of financial services to several multinationals and national corporations and financial institutes. It has received a very encouraging response from the financial sector and in a short span of time it has added to its clientele a list of diversified multinational and renowned Pakistani organizations.

PFC's main purpose is to assist and facilitate the services of other companies/institutions along with serving the nation and contributing positively towards stability and growth of the economy by providing employment opportunities to the work force. PFC is generally known in twhe market for its sophisticated debt collection services by keeping in view the Government's directives for the recovery of bad and doubtful loans, it has engaged actively in the recovery of bad loans for its customers. But besides debt collection, it is also engaged in providing services such as Godown Inspections, Data Verification, Feasibility Reports, Head Hunting, Debt Management and other advisory services.

The company is headed by Mr. Akbar M. Bilgrami who is the President and Chief Executive. Mr. Bilgrami is a seasoned banker and was one of the pioneers in Bank of America where he started his career and stayed for 24 years during which he was posted to countries in the Middle East, Southeast Asia, Europe at North at South America. Subsequent to this, he was associated with other foreign banks and until late 1999 was the founder Director and CEO 8> Managing Director of Pak-Gulf Leasing Company appointed by Government of Pakistan Islamabad in October 1994.

PFC has signed a contract with Pakistan Telecommunication Co. Ltd. for Debt collection services and, as pilot project we are focusing recovery drive in specific areas of Karachi but at a later stage intend to cover other parts of Pakistan. Besides PTCL, Progressive Financial Consultancy is also engaged in providing services to its clients like American Express, Bank of America, Diners Club, Mobilink, Union Bank, and MCB Master Cards to name just a few.

PFC's office is equipped with latest technology and a professionally qualified full time staff. The directors of PFC are concentrating on a business, which suits to their business partners, and wishes to focus on other challenges ahead of them. The role of PFC comes where customized debt management plan is workable to suits the needs of a business concern. Survey and data verification is required for effective and efficient control.

They have been keenly observing the market conditions and feel that a competent and efficient Financial Consultancy is the need of the hour in Pakistan. Their objective is to be cost effective for their clients in terms of pay roll and other administration expenses and to provide low cost solutions for the problem areas. So far they have been successful in their efforts and look forward to being a major player in a market that is in dire need of such advanced services.

The Carrot Company

The Carrot Company a post-production house, well equipped and specializing in state-of-the-art equipment, was recently involved in the making of mega hit serial Bisaat.

This being film actor Nadeem's first venture, and having been shot on location mostly in Paris, Bisaat's editing required exceptional handling the fresult shows it.

INTEL CORPORATION Q1 REVENUE $8.0 BILLION

Intel Corporation announced first quarter revenue of $8.0 billion, up 13 percent from the first quarter of 1999 and down 2 percent sequentially.

For the first quarter, net income excluding acquisition-related costs was $3.1 billion, up 52 percent from the first quarter of 1999 and up 28 percent sequentially. First quarter earnings excluding acquisition-related costs were $0.88 per share, an increase of 52 percent from $0.58 in the first quarter of 1999, and up 28 percent sequentially.

During the quarter Intel announced that the Internal Revenue Scrvicc Clad closed its examination of the company's tax returns up to and including 1998. As part of this closure, the company reversed previously accrued taxes reducing the quartcr's tax provision by $600 million, or approximately $0.17 per share. Including acquisition-related costs in accordance with generally accepted accounting principles, first quarter net income was $2.7 billion, up 37 percent from first quarter 1999 and up 30 percent sequentially. Earnings per share were $0.78, up 37 percent from $0.57 in the first quarter of 1999 and up 28 percent sequentially. Acquisition-related costs in the first quarter consisted of $62 million in one-time charges for purchased in-process research and development and $313 million of amortization of goodwill and other acquisition-related intangibles.

"Demand in the first quarter was stronger than we expected at the beginning of the year and continues to be stronger as we enter the second quarter," said Craig R. Barrett, president and chief executive officer. "We also expect a strong second half, and are accelerating our investments in capacity to meet future demand."

"While supply remains tight entering the second quarter, we are ramping our 0.18-micron manufacturing technology rapidly in five facilities," Barrett continued, "and expanding to eight facilities by year-end, which will substantially increase supply in the coming quarters. We are excited about our product introductions slated for the second half, when we will refresh our entire microprocessor line -- including the launches of the Itanium™ processor and processors code-named Willarnette and Timna."

Intel announced five networking and communications acquisitions in the first quarter, three of which, GIGA A/S, Ambient Technologies, Inc. and Thinkit Technologies, Inc., closed during the quarter and two, Basis Communications Corporation and Voice Technologies Group, Inc., are still pending. Background on each of these acquisitions can be found in the First Quarter Highlights section of this release.

During the quarter, the company paid its quarterly cash dividend of $0.03 per share. The dividend was paid on March 1, 2000, to stockholders of record on February 7, 2000. Intel has paid a regular quarterly cash dividend for over seven years.

During the quarter, the company repurchased a total of 9.8 million shares of common stock, at a cost of SI billion, under an ongoing program. Since the program began in 1990, the company has repurchased 669.7 million shares at a total cost of S 19.2 billion.

Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom .

NBP's ANNUAL CONFERENCE TODAY

An important Executive Conference of the National Bank of Pakistan will be held today, to streamline home remittances and utility services.

NBP executives from all over Pakistan will conduct strategic discussions to chalk out a future strategy in order to modernise banking services and discuss the business position of the bank.

The NBP President Muhammadmian Soomro will chair the conference. He Will be emphasising on improvements of the bank's workings.

The agenda of the conference includes suggestions of ways and means to explore resources for the bank's progress, with special reference to remittances.

Incorporated on November 8, 1949, the National Bank of Pakistan performs sub-treasury functions on behalf of the State Bank of Pakistan, and is also the largest commercial bank with over 1400 branches spread all over the country, with 23 foreign branches and 5 representative offices in 16 countries of the world.

SysTech Introduces CMMIS

In the recent years information technology has attained a priority status for business houses because modern communication and computerization has contributed in increasing the efficiency and lowering the cost. Software has emerged as an essential component for an efficient communication network, and as such information technology has grown at a phenomenal rate.

In this scenario, SysTech international conducted a seminar on "Computerized Maintenance Management Systems" to highlight the needs of maintenance systems. Many famous companies of the country registered themselves for this useful seminar.

"SysTech" head office in New Jersey, USA and branch offices in Karachi and Riyadh, Saudi Arabia. This seminar was conducted by Karachi Branch, headed by Mr. Shams Ladak with their team mate Mr. Zafar Ayub