Apr 15 - 21, 2002

OKLAHOMA SENATOR VISITS PSO HOUSE

Mr Billy A. Mickle, US State Senator from Oklahoma, expressed desire that his constituency be included in the itinerary of the upcoming road shows for Pakistan State Oil sell-off.

Mr. Mickle, along with a group of US investors and oil industry CEOs, was briefed on PSO by its Managing Director, Mr Tariq Kirmani. Top executives from Shell Pakistan, Caltex, Sui Southern Gas Company and the Board of Investment were also present.

The US legislator said that he was impressed by the way Pakistan's premier public sector company was being run and would "tell the investors back home about the transparency of the process of privatization". He said Oklahoma is not new to the oil business.

Mr Tariq Kirmani informed the visitors that the financial advisors J. P.Morgan were finalizing the brief on PSO privatization and the road shows are likely to get under way during April-May. So far, he said, these shows are planned in Europe, Middle East and Far East.

Other members of the delegation also actively participated in the lively question-answer session that followed the PSO MD's presentation. They included Mr Glenn Floyd, ex-State Rep & Municipal Board Attorney, Oklahoma, and Mr. Hilly Bashir, CEO, Access Capital.

The Sui Southern also made a detailed presentation on the gas industry potentials.

PSO SIGNS 10-YEAR DEAL WITH BOSICOR

Pakistan State Oil (PSO) signed an agreement with Bosicor Refinery for the purchase of all petroleum products, including liquefied petroleum gas (LPG).

The Bosicor Refinery, which is being set up at Hub, will have a total capacity of 30,000 barrels per day. It will become operational early next year.

According to the sales-purchase agreement, PSO will purchase all petroleum products produced by Bosicor for the next 10 years.

In a second agreement signed with Bosicor, PSO will handle crude oil for the refinery at its Zulfiqarabad Oil Terminal.

According to the crude oil handling agreement, PSO will receive crude oil for Bosicor at Port Qasim and store it in two storage tanks of 30,000 metric tonnes capacity that will be specially constructed for the purpose. From Zulfiqarabad, the oil will be transported to Bosicor in tank lorries.

For PSO, the Managing Director, Mr Tariq Kirmani, signed the agreement while Bosicor was represented by its Managing Director Mr Pervez Abbasi.

PSO, AWT SIGN MOU ON OUTLETS

Pakistan State Oil (PSO) and Army Welfare Trust (AWT) inked a Memorandum of Understanding to establish a chain of retail outlets throughout the country. The MoU was signed by PSO Managing Director, Mr Tariq Kirmani, and AWT Managing Director Lt Gen Masood Parwaiz on behalf of their respective organizations. The chain of over 50 model filling stations will be established over a period of three years. These outlets will also have CNG facility, Internet, minimarts and business centers — a hallmark of PSO's New Vision strategy to provide one-window service to its customers.

NBP, HBL AND UBL PROVIDE RS. 2.4 BILLION FACILITY TO PAKISTAN STATE OIL (PSO)

The signing ceremony of the PKR 2.4bn Medium Term Facility arranged by the three large local banks National Bank of Pakistan (NBP), Habib Bank Limited (HBL) and United Bank Limited (UBL) to Pakistan State Oil (PSO) was held in a simple but impressive manner recently at PSO House, Karachi. Present at the occasion were Mr. Zakir Mahmood, President HBL, Mr. Amar Zafar Khan, President UBL, Masood Karim Shaikh, SEVP and CFO NBP and Mr. Tariq Kirmani MD PSO.

The syndicate Banks expressed the opinion that this was a landmark transaction in the terms of the quick turnaround time and the competitive pricing the banks were able to offer to PSO on account of the strong fundamentals of the Company. Cooperation extended by the employees of PSO helped the banks in closing the transaction in a very short time. MD PSO speaking on the occasion appreciated the efforts of the team involved in the transaction and said that the Facility would enable the Company to reduce the financial cost and further improve the profitability.

The facility has a tenor of eighteen months with repayments in consecutive equal monthly installments with mark-up payment in arrears on semi annual basis. National Discounting Services Ltd. is acting as security agents.

PSO is Pakistan's largest oil marketing with a market share of 70% and is fully prepared for the industry's deregulation and has a market strategy to deal with competition.

This deal denotes the strong and successful syndication capability of the three large local banks, which resulted in meeting the expectations of PSO in the shortest possible time.

FRENCH CONSUL GENERAL BIDS FAREWELL TO RUSSIAN COUNTERPART

Recently, French consul general, Gilles Bonnaud who is also the current Dean of the diplomatic corps in Karachi hosted a reception at his residence to bid farewell to the consul general of the Russian Federation Mr Yuri Materiy who would be leaving soon for Moscow after completing his tenure in Karachi.

Speaking on this occasion, Mr. Bonnaud highlighted the distinguished career of his colleague and appreciated the co-operation extended by Mr. Materiy to the diplomatic corps during his tenure in Karachi. On behalf of Karachi's diplomatic corps, the Dean wished him goodluck in his future assignments and presented a beautiful silver memento to the outgoing diplomat.

Addressing the diplomatic corps and eminent journalists present to bid him adieu, Mr. Materiy declared that he was highly satisfied with his stay in Pakistan and was departing with pleasant memories. He thanked his colleagues, his numerous friends, the press and the local authorities for it.

WELCOME SWISS - SWISS AIR LINES

Beginning of April 2002 introduces a new chapter in the Aviation History of Switzerland, and at the same time marks the introduction of Switzerland's new national airline to Pakistan. SWISS has been declared the new national airline of Switzerland after the former company Swissair ceased its operations on 31st March of this year.

Swiss Air Lines main mission will be

• to create the world's most respectable airline through an unswerving committment to quality, innovation, customer care and design.
• to become one of the most admired companies in the world by improving the way people live.
• and - to be Swiss!

FIRST INTERNET CREDIT CARD IS LAUNCHED IN PAKISTAN

Mohammedmian Soomro, Governor Sindh in a local Hotel on 10th April, 2002, has launched Internet Credit Card First time In Pakistan. This Internet Credit Card will work in all ISP's all over Pakistan. Card is Interest Free and any one can qualify, other features include Multiple access of ISP's, Credit Facilities, free Internet Account, Reward Plan, Free Pick & Drop service, E-Club with 24 hours customer service.

Governor Sindh said, "It is a very good product it will promote the IT culture in Pakistan. IT enhancement is needed and launching of Internet Credit Card shows that there is lot can be done, this card have the Government support and I appreciate the efforts of Mr. Tariq Nizami and wish him all the success in his new venture".

Also Mr. Tariq Nizami, Chief Executive of Internet Credit Card Pvt. Ltd. said that this card will promote Internet and IT in Pakistan, we have plans to add additional services. Dr. Ata Ur Rehman, Minister of Science & Technology also supported this card in message. He thanks the Governor Sindh for introducing Internet Credit Card to Pakistan.

Local businessmen, IT professional, ISP's, banks officials and others attended the launching Ceremony. This card is unique and first of its kind in Pakistan.

NEW CRM MODULE TO MANAGE CUSTOMER INTERACTION AND COMMUNICATION ACROSS ALL POINTS OF CONTACT

Teradata, a division of NCR Corporation (NYSE: NCR), has announced it will launch Touchpoint Server (TPS) as part of its customer relationship management (CRM) application suite. TPS serves as the central technology linking marketing communications with customer interaction channels such as call centers, web sites, automated teller machines (ATMs) and web kiosks — often called consumer "touchpoints" — in near-real time.

"TPS helps companies ensure that communications with individual customers are relevant, timely and are managed through the channel that best fits customer preferences, " said Peter Heffring, president of the Teradata CRM division. "It allows marketers to better understand what is important to individual customers and communicate with each one based on that understanding."

TPS acts as the main delivery mechanism, allowing companies to plan, manage and execute their marketing communications plans. TPS enables this capability through:

Channel Delivery — Ability to deliver marketing offers generated by the company through its Teradata CRM solution to all channel types.

Event-Based Campaign Injection — Ability to take a customer event, determine its significance and potentially inject it into a promotional or service campaign based on that event — all in near-real time, ready for the next interaction.

Response-Based Stepping — Ability to process responses in near-real time and take appropriate steps based on that response. This allows for the customer actions on one channel to be quickly known, within minutes, on another.

For example, a long-standing customer at a large local bank decides to refinance a home, and decides to visit the bank's Web site to shop around for the best home loan interest rates. While at the site, the customer discovers that the bank has one of the lowest rates in the market. Later that night, when the customer goes to use an ATM to get some cash, there is a special offer two points better than the Internet loan seen earlier based on the customer's credit rating and long-time value to the bank. In the morning, when the customer logs onto the bank's website again, that same offer appears on a personal Web page. Based on the level of personalization received through these two channels — the ATM and the Internet — the customer might then choose to contact the call center to learn more about the special rate, at which time the call center agent is prepared with information about the personalized offer.

"Just-in-time, relevant responses to customers can mean the difference between weakening or strengthening a relationship," said Bob Moran, research vice president & managing director, Data Knowledge and Analytics, Aberdeen Group. "A company that can respond in real time to individual customers with precision and relevance wherever they touch that business — using technology that enables it to link its analytical and operational systems — is best positioned to grow customer loyalty and business value."

Touchpoint Server, part of the Interaction family within Teradata CRM's six areas of functionality — Analysis, Modeling, Communication, Personalization, Optimization and Interaction — will be available early in the second quarter of 2002.

ABOUT TERADATA DIVISION

Teradata, a division of NCR Corporation, offers powerful analytical solutions that help businesses drive growth. Teradata solutions include the Teradata database, and analytical applications for customer relationship management, operations and financial management, business performance management and e-business. To learn more about Teradata Division and its solutions, go to http://www.Teradata.com.

KARACHI STOCK EXCHANGE

The Management of the Karachi Stock Exchange, has decided to observe the following timings for trading till further notice with effect from Friday, April 12, 2002.

Monday to Thursday Friday

Pre-Open 09:30 a.m. 09:00 a.m.
Open 09:45 a.m. 09:15 a.m.
Close 02:15 p.m. 01:15 p.m.
Open Market COT 03:30 p.m. to 04:30 p.m. 03:30 p.m. to 04:30 p.m.