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Oct 30 - Nov 05, 2000

Intel introduces integrated chipset for mobile PCs

Intel Corporation introduced a new mobile chipset with integrated graphics specifically designed for today's full-size and thin-and-light mobile Intel® Pentium® III and Celeron™ processor-based mobile PCs. This integrated mobile chipset offers great performance while lowering overall system cost.

The Intel® 815EM chipset integrates graphics functionality and options to utilize external AGP4X or AGP2X graphic controllers. This new chipset provides built in, cost effective support for Intel® SpeedStep™ technology featured in mobile Pentium III processors. By supporting Intel SpeedStep technology, notebook vendors using the nest Intel 815EM chipset can lower manufacturing costs by eliminating external components.

"The Intel 815EM chipset enables stable and flexible mobile platforms that deliver new levels of performance," said Don McDonalds, director of marketing, Intel Mobile Platforms Group. "This new mobile chipset provides richer, robust 2-D and 3-D graphics, providing for a more compelling mobile PC experience."

New Levels or Performance and Flexibility

The Intel 815EM chipset is based on Intel's advanced Hub Architecture, featuring a new I/O Controller Hub (ICH2-M) for greater system performance and flexibility. The ICH2-M enables an additional Universal Serial Bus (USB) port, includes a Local Area Network (LAN) Connect Interface, dual Ultra ATA/100 controllers for faster hard drive performance and support for Dolby* Digital full surround sound.

The Intel 815EM chipset is designed with integrated graphics and external AGP4X graphics that can be easily upgraded. The chipset's graphics and AGP Memory Controller Hub features Intel graphics technology to create vivid 2-D and 3-D effects and images. The chip also features integrated hardware-assisted motion compensation to improve DVD video quality and a digital video-out port to connect mobile PCs directly to televisions or flat panel displays. In l,000-unit quantities, the Intel 815EM chipset is priced at $47.50 each.

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

2nd Lucky Winner

The second lucky winner of one kilo of gold of the World Gold Council's Gold Hee Gold 2000 jewellery shopping festival was recently announced at a lucky draw held at Latif Centre, Lahore.

Maria Moiz, a student of Business Administration and a resident of Karachi, won a kilo of solid gold in the second draw of Gold Hee Gold 2000. The draw, which was conducted by Pakistan's renowned showbiz personality Amina Haq, was held at Latif Centre, in the heart of Lahore's jewellery market, amidst a huge crowd of cheering spectators.

Gold Hee Gold 2000, which has been organised by the World Gold Council, is the largest ever gold jewellery extravaganza in Pakistan. More than 120 leading jewellers from the main jewellery markets of Karachi, Lahore, Islamabad and Faisalabad participated in it.

Shell Golf Tournament

On October 21 and 22, Shell Golf Tournament was organised at Arabian Sea Country Club. Shell Pakistan Limited Managing Director and Chief Executive Mr. David M Weston was the chief guest at the prize distribution ceremony, who gave prizes to the top golfers of the tournament.

Shell Golf Tournament was played in the categories of Ladies, Seniors, Amateurs and Professionals. In the Ladies Category (Net) Mrs. Hermesen topped the list followed by Mrs. IshiBashi. In the Ladies (Gross) event Mrs. Shirin Khan was the winner while Mrs. Durdana Soomro stood as runners up. The Seniors (Net) event was won by Zaheer Choudhary while Brig. Umair received the prize for the 2nd position.

In the seniors (Gross) category Murtaza Qasim beat Col. Babar Jan to claim the winner's prize. In the Amateurs (Gross) category, Sohail K. Rana was the winner. The first runner's prize went to Badruddin Hilal while Omar Farooq claimed the 2nd runner's prize. The amateur (Net) category event was won by Azhar Haji followed by Col. Tahseen Baig (first runner) and Fauzi Garib (second runner). Professional Category was won by Amjad Yousaf while Zulfiqar Ali came second.

The tournament was held in the best of the sporting spirits for which Shell Pakistan Limited has always been acknowledged as a passionate force.

Pakistan 1st Free Educational Portal

Pakistan first free educational portal eTaleem.com on the world wide web, specially designed to facilitate and meet the educational and career resource requirements of the citizens of Pakistan. This exceptionally designed Portal will cater to the existing and future needs of educators, educational institutions, parents and students within the country and worldwide.

The basic theme of eTaleem.com is to facilitate the community towards their needs pertaining to education. This portal is a comprehensive solution for all regardless of age, category and size.

eTaleem.com not only provides comprehensive information about the education but also helps the needy students. This is an online social service for Pakistani students to get education and knowledge.

Engro Announces Third Quarter Results

The Board of Directors of Engro Chemical Pakistan Limited met on October 26, 2000 to review the business results of the Company for the period January to September 2000.

The salient features of the Company's unaudited result are as follow:

. Third Quarter Year to Data
.

2000     1999

2000    1999

Production ('000 tons)

199

217

593

599

Revenue (Rs million)

2,672

2,483

5,177

5,977

Net Income (Rs million)

356

436

429

821

Earnings per share (Rs)

2.94

3.61

3.55

6.80

The business environment of fertilizer industry in Pakistan improved appreciably during the third quarter of 2000. The overall market demand for urea which was trailing last year by 9% at the end of the first half reduced to 2% by the end of the third quarter. The Company's urea sale for the period under review was 553,000 tons representing a market share of 19%. Further, the improved domestic supply/demand balance and the firming up of international price of urea enabled the company to increase the price of its urea. This reversed the declining price trend of the past 21/2 years and made it possible to pass through some of the cost increases to improve margin.

The net profit of the Company during the third quarter rebounded from the depressed level recorded in the first half. Nevertheless, the profit for the nine months ended September 2000 is 48% lower than that of the corresponding period of last year due to gas price increases and lower urea margins. The Board of Directors after the review of the business results announced a second interim dividend of Rs. 2.00 per share. This brings the cumulative dividend for the period January to September 2000 to Rs. 4.00 per share, which is the same as last year.

The industry prospects for the remainder of year seem promising unless shortage of irrigation water once again constrains demand. Longer term the fertilizer industry anxiously awaits the announcement of the new fertilizer policy at an early date which will determine both the viability and future investment of companies in this vital industrial sector of Pakistan.

ROLE OF BANKS lN IT VENTURE FINANCING

Pak Libya Holding Company (Pvt.) Ltd. organized a 'Brainstorming Session' on the "Role of Banks in IT Venture Financing" at Hotel Sheraton recently. Dr. Ishrat Husain, Governor, State Bank of Pakistan was the Chief Guest. Among others, the Chief Executives of various Banks and Financial Institutions attended the Session. The Governor, State Bank of Pakistan also formally inaugurated the website of PakVenCap.com, the first IT Venture Capital Company ready to be launched shortly.

The Session began with a detailed presentation by Mr. Zaigham Mahmood Rizvi, Managing Director, Pak-Libya on Venture Capital in general and Pak Libya's bold initiative of establishing PakVenCap.com, a premier IT Venture Capital Company, in particular. In his presentation, Mr. Zaigham Mahmood Rizvi emphasized the need for promoting the "dotcom culture" in Pakistan primarily through venture funding of IT companies. Mr. Rizvi also invited other Banks and Financial Institutions to come forward and take a lead position in further promoting PakVenCap.com in its development stage by way of injecting equity capital. He said that Pak Libya has already earmarked a sum of Rs. 25 million towards the initial paid-up capital of the proposed Venture Capital company viz. Rs. 250 million. Mr. Zaigham Mahmood Rizvi further elaborated that Pak Libya has already organized a nation wide Talent Hunt Program to identify IT related talent in Pakistan for having a ready list of potential clients prior to formal establishment of PakVenCap.com. After initial screening of over 400 IT proposals, Pak Libya has completed further scrutiny and appraisal of about 90 selected proposals. Although final selection of some solid proposals is underway, Pak Libya has already selected two such proposals namely PakBusinessPortals.com (an info portal) and Ajrak.com (a comprehensive search engine), which have been formally launched by the Sindh Governor in an impressive ceremony held at Hotel Sheraton.

While elaborating his views on the subject, Dr. Ishrat Husain, Governor, State Bank of Pakistan, termed establishment of PakVenCap.com as a "commendable initiative" by Pak Libya, which needs to be fully supported by the banking community at large. The Governor State Bank also reiterated the need for making quick decisions particularly in IT related projects. He said that the present Government is particularly encouraging promotion of IT Sector in the country to accelerate the pace of economic development. The Governor stated that SBP as a regulatory body was fully aware that Venture Capital is new to the financial sector and was ready to support all those interested in bringing dotcom companies to the stock exchanges of Pakistan.

The Governor State Bank also emphasized with reference to IT projects being set up in the country the need for improving the project management skills, quality of professional education, marketing skills etc. primarily to become competitive in the global IT arena. The Governor also said that Venture Capital is different from traditional project financing which is why this sector needs to be judged from the point of view of performance rather than the traditional viability criteria.

Other prominent personalities from the banking and finance sectors also spoke on the occasion highlighting various aspects of Venture Capital financing. At the end, Mr. Nessar Ahmed, President, CresBank announced an equity contribution of Rs. 10 million to PakVenCap.com. The Small Business Finance Corporation has also expressed its interest in taking equity contribution in the proposed IT Venture Company and also plans for providing small loans to IT projects. The Governor appreciated these initiatives and desired the lead Financial Institutions of the country to possibly take lead role in sponsoring the Venture Capital Company.