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Dawood Money Market Fund: Profile DMMF, our open-end Money Market fund remains the flagship fund

of our family of products. The fund has been rated 5-star by the Pakistan Credit Rating Agency (PACRA) since it became eligible for a rating, which implies that the fund has been in the top 10% of all funds in Pakistan which fall under the category. The star ratings measure the performance of the funds not only on the returns given by these funds over the period of analysis (12 months of the Financial Year) but also the risk measured by variability in return over monthly periods. Additionally, the credit quality of assets is also considered. The Fund was launched in May 2003 and has had consistently competitive returns. DMMF is very conservative and risk-averse and primarily invests in only A rated Term Finance Certificates, bonds, corporate debentures, Government Securities and other money market instruments. The Securities and Exchange Commission of Pakistan has allowed DMMF the risk category of low risk. This is further enhanced, when DMMF is considered by the State Bank of Pakistan as a low risk investment. Banks and DFIs may not have an exposure of greater than 20% of their equity in shares. The State Bank of Pakistan goes on to state, Units of those Mutual Funds, which are invested purely in debt securities (such as DMMF), shall not be considered as part of the exposure limit of 20%. This highlights the risk-averse nature of DMMF. The Fund is highly liquid with redemption taking usually 3 working days and has one of the lowest management and trustee feesin the industry. The fund is listed on the Karachi Stock Exchange (KSE). Objective The prime objective of the Fund is to provide a consistent and better return to unit holders as compared to other short-term investment options available in the market like bank deposits, certificates of investment and national saving schemes on net of tax basis. Tax Benefit to the Individual Investors If you or a family member is a taxpayer, then by investing approximately Rs. 300,000/- in DMMF, you will be able to reduce your tax payments by your marginal tax rate. Thus, if you are in the 35% tax bracket, you save Rs. 105,000/- plus the return/yield DMMF gives (in June 2007 it was 11.18%). Thus, you will receive on your Rs. 300,000/- investment Rs. 105,000 + Rs. 33,540 = Rs. 138,540/-, i.e. A 46.18% return on your investment. Please contact us for more information.

Dawood Capital Limited: Dawood Capital Management Limited (DCM) was founded in May 2003 by First Dawood Group (FDG) and Asian Development Bank (ADB) to undertake asset management business in Pakistan. In May 2003, DCM floated its first open-end money market fund titled "Dawood Money Market Fund (DMMF)" with a record core capital of Rs. 300 million. Management floated its first closed-end balanced fund "First Dawood Mutual Fund (FDMF)" of Rs. 500 million in March 2005. In July 2007, DCM floated its first open-end Shariah Compliant Asset Allocation fund "Dawood Islamic Fund (DIF)" with a seed capital of Rs. 250 million. All funds are listed on the Karachi Stock Exchanges Our FDG management has over twenty years of experience with the Stock Exchanges and Money Markets. Additionally, we have an extensive research and development department that advises us on market trends and economic conditions. Our organization is fully committed to employing the utmost level of efficiency, integrity and professionalism required and we prioritize a personal hands-on touch for our clients. DCM was originally Pakistan Venture Capital Ltd., which started its business operations on January 1, 1993, with the principal objective to undertake and promote the business of venture capital financing and other related services. On March 16, 1999, FDG took over management of DCM and due to the dearth of venture activities in Pakistan at that time, at the suggestion of ADB, converted into DCM. First Dawood Mutual Fund: DMF, our closed-end balanced fund was launched on March 22, 2005. The fund has been rated 4-Star by the Pakistan Credit Rating Agency (PACRA) since it became eligible for a rating, which implies that the fund has a good performance in the balanced fund category. The star ratings measure the performance of the funds not only on the returns given by these funds over the period of analysis (12 months of the Financial Year) but also the risk measured by variability in return over monthly periods. Additionally, the credit quality of assets is also considered. FDMF has the Central Depository Company of Pakistan (CDC) as its trustee and was launched with Rs. 500 million. The investment objective of FDMF is to provide investors with an opportunity to invest in a diversified portfolio of securities representing equity, fixed income securities and money market instruments. The Fund balances its investments between these instruments depending on the prevailing market conditions. The goal of the fund is to reduce the risk of loss due to a change in the market conditions and provide a consistent growth and better return than any other investment option available in the market. As a closed-end fund listed on the Karachi Stock Exchange (KSE) the liquidity normally associated with open-end funds is not present and the fund may only be purchased or sold directly to the stock market and not with DCM.

Dawood Islamic Fund: DIF is our new open-end Shariah Compliant Islamic Fund. The fund aims to provide investors Riba Free returns or Halal Munafa. The main objective of the fund is to provide an avenue to the Unit Holders to invest in a diversified portfolio based on Shariah Compliant investments under the supervision of its Shariah Adviser. DIF is unique in Pakistan in the Islamic category as it is an Asset Allocation fund which can invest in shares as well as in Sukuks and Shariah compliant securities. This allows investors the opportunity to avail higher returns than Islamic Income Funds with a lower risk-profile than Islamic Funds that invest only in shares. To ensure the fund remains shariah compliant, the fund has Shariah advisors including Professor Mufti Muneeb-ur-Rehman, Mufti Muhammad Abubakr Siddiq and Mufi Syed Sabir Hussain to offer their guidance. Once an investment has been deemed shariah compliant by our advisors, our risk managers conduct in-depth analysis of the selected investment avenues. Only scripts that pass the shariah advisors and then the risk managers may be deemed suitable for investing. The Fund is highly liquid with redemption taking usually 3 working days. The fund is listed on the Karachi Stock Exchange (KSE).