HongKong, Dec 13: MCB Bank's GDR offering has been awarded the Best
Pakistan Deal in Awards for Achievement 2006 by FinanceAsia, Asia's leading financial publishing company.

MCB Bank's $150million GDR issue in October'06 attracted over $700 million of demand from investors worldwide. The overwhelming response from the fund management community to the issue signified investor's confidence in the Bank's management and highlighted its impressive performance metrics on a global scale. This historic event marked 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.

Merrill Lynch International led the transaction as Global Coordinator, Sole Bookrunner and Sole Lead Manager for this issue, with KASB Securities acting as Financial Advisor to MCB. Deutsche Bank New York is acting as the depository bank for the GDRs. Legal counsel for the transaction were Haidermota & Co, Mohsin Tayebaly & Co, Allen & Overy and Linklaters.

FinanceAsia covers Asia's financial and capital markets and announces awards each year to defining deals coming from different countries. Deals selected for the award can be equity offerings, M&A deals, or bonds.