Appointment of Chief Executive

On August 1, 2008 Mr. Aftab Mahmood Butt assumed the office of Chief Executive of the Company. The Board of Directors has appointed Mr. Butt Chief Executive for a period of three years.

Mr. Butt is a Fellow Member of the Charted Accountants of Pakistan with 15 years of working experience, including 10 years at Senior Management positions.

Prior to becoming Chief Executive of the Company, Mr. Butt was the General Manager Finance, Corporate Planning and Performance Monitoring of Pakistan Electric Power (Private) Limited.