London October 19, 2006: MCB Bank’s GDR was formally listed at the London Stock Exchange yesterday, making it the first company from Pakistan to get listed on one of the world’s most prestigious and oldest exchanges. The formal market opening for MCB Bank’s GDRs was held at the London Stock Exchange. The ceremony was attended by Dr. Maleeha Lodhi, High Commissioner for Pakistan in the United Kingdom, Mian Mohammad Mansha, Chairman- MCB Bank, Mr. Mohammad Aftab Manzoor the President, and other representatives from MCB. Ms. Clara Furse, CEO London Stock Exchange hosted the ceremony which also included representatives of Merrill Lynch and KASB Securities who were the financial advisors and book runners for the issue. The ceremony started in the morning with opening of the market at 0800 at the London Stock Exchange’s new building in Paternoster Square followed by a welcome speech from Ms. Furse and presentation of a commemorative plaque to the Chairman, MCB.

Last week, MCB successfully issued 8,622,100 Global Depositary Receipts (GDRs) worth USD 150 million to international institutional investors.  The historic event culminated the first GDR offering for a Pakistani issuer in over 10 years and made MCB the first Pakistani company to be listed on the London Stock Exchange. The GDR issue attracted over US$700 million from over 50 investors globally. The overwhelming response from the fund management community in the issue signifies investor’s confidence in Bank's management and highlights its impressive performance metrics, even on a global scale. It also resulted in significant improvement in portfolio flows in the country and has put Pakistan’s capital markets back on the radar screen of many international investors.