No: SEC/SRMID/94-231/ Date: 21 December, 2004

ORDER

Whereas, the Securities and Exchange Commission deems it to be expedient that in the interest of the investors and the capital market, the operation of Margin Rules, 1999 should be suspended for the time being;

Now, therefore, the Securities and Exchange Commission, in exercise of its power conferred by section 33 of the Securities and Exchange Ordinance, 1969, (XVII of 1969), hereby suspends the operation of Margin Rules, 1999 with immediate effect till further order.

By Order of the Commission

Farhad Ahmed

Executive Director

Distribution:

1. CEO, DSE with a request to send a copy of this order to all of their

2. CEO, CSE members and disseminate the aforesaid order, through

on-line trading system immediately

Copy to:

1. Chairman, SEC

2. Members, SEC

3. All Departmental Heads, SEC

4. CEO, CDBL