Board of Directors 2003-2004

Mr. Omer Iqbal Pasha is the Chairman of the Board of Directors for the term 2003-04. He is an eminent broker of the Islamabad Stock Exchange running his brokerage house since 1992.

Mr. Aftab Ahmad Ch. has been Managing Director of the ISE since October 2002. He is a graduate of Nicholls State University Thibodaux, LA, USA with an MBA degree. Besides Mr. Aftab also serves on the board of NCCPL and JCR-VIS

Mr. Najam-ul Haq Malik is the member of the Islamabad Stock Exchange since 1992. He also holds vast experience as a director on the Board of the Exchange.

Mr. Rafaquat Ali Ch is on the Board since October 2003. He is well experienced in the field of stocks. He is also the nominee director of Pride Stocks and Services (Pvt) Limited.

Dr. Iftikhar Ahmad is a Director on the Board of the Islamabad since October 2003. A doctor by profession, he holds vast exposure on international level of stock markets operations. He is the chief executive of Black Stone Equities Limited, associated with the Exchange as a member.

Syed Nooh Adnan is on the Board of the Exchange since October 2003. He is also the chief executive of Stocks Visions (Pvt) Limited, member Islamabad Stock Exchange.

Mr. Mohammad Rashid Zahir is the SECP�s nominee on the Board of the Islamabad Stock Exchange since 2001. He is serving as the General Manager/Chief Executive Officer of Saudi Pak Industrial and Agricultural Investment Company (Pvt) Limited.

Mr. Saeed A Mirza is the SECP�s nominee on the Board of the Islamabad Stock Exchange since 2003. He holds degrees in Engineering and Professional Accountancy (USA). His working career spans over 27 years in industrial concerns in executive ranks. Presently he is the Chief Executive of Alcatel Pakistan Limited, a renowned telecommunication company in Pakistan.

Syed Kaukab Mohyuddin is the SECP�s nominee on the Board of the Islamabad Stock Exchange since 2003. A chemical engineer by profession, he is the Managing Director of Wah Nobel Group of Companies since February 1997. He is also the member of various engineering as well as professional bodies in Pakistan.

Mr. Sharyar Ahmad is the SECP�s nominee on the Board of the Islamabad Stock Exchange since 2003. Having vast exposure of capital and money markets operations as part of his banking career both at national and international levels, he is serving presently as Senior Executive Vice President/Group Head (Corporate Banking & Financial Institutions), Askari Commercial Bank Limited.