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Allied Bank Limited announces major network award to Multinet Pakistan (Pvt.) Limited

Karachi: April 21, 2011 – Allied Bank Limited (ABL) today announced that it has awarded a major contract to Multinet Pakistan (Pvt.) Limited for the upgrade of its nationwide primary branch connectivity on Optical Fiber, thereby reinforcing ABL's position as one of the top financial institutions of Pakistan.

ABL initiated an intensive vendor evaluation to find the best solution to support continued expansion of its nationwide core online banking application. Upon completion of the online banking applications rollout, ABL branches will be better able to serve the needs of their customers through speedier routine transactions such as loan applications and inter-bank transfers. "Our goal is to dramatically improve our customers' in-branch and online experience through extensive investment in our customer centric core banking application, as well as improve our operating efficiency and enhance internal communications" said Mr. Mujahid Ali, Group CIO for ABL.

"Multinet is proud to partner on such an important milestone initiative of ABL and greatly honors the trust ABL has placed in MPPL's solution. We have built a solid reputation in the Pakistan business-2-business connectivity solutions market via our core expertise in Optical Fiber networking and are committed to helping ABL achieve their goals and building a long term partnership with them" said Mr. Arif Hussain, COO of Multinet Pakistan.

Under the agreement, Multinet will provide end-to-end fiber optic access supplemented by IP Ethernet services to link ABL's nationwide network and data centre in Lahore with its branch offices across Pakistan. On the network management side, MPPL will provide Managed Network Services from its central Network Operations Center (NOC). As the main network management facility of MPPL, the NOC will constantly monitor the entire ABL network and provide early fault diagnosis and prevention services, as well as monitor the network performance to help ensure maximum efficiency.

Pakistan Mercantile Exchange (PMEX) Crosses Stock Exchanges' Combined Volume

Karachi May 9, 2011 – The Pakistan Mercantile Exchange (formerly National Commodity Exchange) continues to grow at a rapid pace.

In April 2011, PMEX trading volumes for the first time exceeded the combined volumes of Karachi, Lahore and Islamabad Stock Exchanges in terms of the Rupee value traded. For the month of April, PMEX had a record trading volume of Rs.68.1 billon in comparison to the stock exchanges' combined trading volume of Rs.66.2 billion.

The turnover at PMEX has been growing very rapidly in the last two years. The April 2011 figure of Rs 68.1 bn reflects year-on-year growth of more than 800% as the comparative figure for April 2010 was Rs.8.4 billion.

PMEX's increasing growth is coming about as a result of the continuous introduction of new products combined with low transaction costs and an efficient web based IT system that makes it very easy for brokers and their clients to transact and manage their trades.

PMEX has also been holding roadshows in various parts of the country towards increasing awareness about the exchange and its benefits. In recent months the PMEX team has covered Hyderabad, Multan, Sadiqabad, Jhang, Faisalabad, Gujranwala, Lahore, Rawalpindi and Islamabad. More events are planned for other cities and towns throughout the country.

"With the establishment of PMEX, Pakistani investors now have a regulated and transparent domestic platform to trade commodities and hedge their price risk. Commodities are fairly well established as an alternative asset class worldwide and we are seeing this in process underway in Pakistan" said Mr Samir Ahmed Managing Director of the exchange. "Eventually the benefits of a vibrant exchange will flow through all sectors of the economy including agriculture, industry, commerce and the financial sector," he added.

PMEX is Pakistan's first and only commodity and financial futures exchange. It is licensed and regulated by the Securities and Exchange Commission of Pakistan. It currently lists and trades contracts in Gold, Silver, Crude Oil, Rice, Palm Olein and KIBOR futures. During 2011 it expects to add on Sugar, Wheat, Maize, Cotton and Currency contracts.

1000% Growth in PMEX Volumes during 1st Quarter 2011

Karachi April 8, 2011 – Volumes at Pakistan Mercantile Exchange Limited (formerly National Commodity Exchange Limited) reached another record over the first quarter of 2011. March alone saw the traded value crossing the Rs. 50bn monthly mark for the first time. The overall first quarter volume saw a 1026% increase in terms of value traded over the same period last year and a 62% increase over the previous quarter.

Growth in trading volumes was accompanied by growing product diversification. While a year ago almost all the trading was in gold, last quarter's activity was spread over Gold (55%), Silver (20%) and Crude Oil (25%). This represents the increasing interest of investors as well as the rapidly increasing expertise of commodity brokers. "We are very encouraged with the continuing growth on the Exchange and are optimistic for the coming months as our brokers continue to increase their coverage and focus on various new commodities" said PMEX Managing Director Samir Ahmed.

PMEX increased its operational timings last month and is now open almost around the clock with trading in Gold, Silver and Crude Oil available from 5.00am to 2.00am the next day. The Exchange also lists IRRI-6 Rice, Palm Olien and KIBOR Futures. During 2011 it also expects to list Sugar, Wheat, Maize, Basmati Rice and Currency Futures.

Pakistan Mercantile Exchange recently changed its name from National Commodity Exchange to better reflect its broad mandate and scope of activity to trade all types of futures contracts. PMEX started its operations in May 2007 as a fully electronic exchange with nationwide reach. It is Pakistan's first and only de-mutualized exchange with 100% institutional shareholding. It is licensed and regulated by the Securities and Exchange Commission of Pakistan.

Pakistan Mercantile Exchange increases market hours

Karachi: March 22, 2011 – Pakistan Mercantile Exchange Limited (formerly National Commodity Exchange Limited) announces increase in trading hours. Going forward PMEX will open market at 5:00 am instead of 10:00 am. With this change, the Exchange is now operating 21 hours a day.

"This extension of trading hours will now provide investors with even more opportunity to stay connected with international markets and access real time prices continuously, especially during the Far East morning hours. With these new hours, PMEX participants can trade international commodities with the same ability as any global investor." says Samir Ahmed, MD of the Pakistan Mercantile Exchange.

PMEX's announcement of increasing the trading hours to 21 hours is another step to ensuring that participants on the Exchange have access to deep and liquid markets in international commodities like gold, silver and crude oil. Increasing trading hours improves risk management as well as hedging and portfolio performance.

Pakistan Mercantile Exchange, which recently changed its name from National Commodity Exchange to broaden its scope of activity, is now open almost round the clock and growing at a rapid pace with the trading in Gold, Silver and Crude Oil available from 5.00am to 2.00am. The Exchange also lists IRRI-6 Rice, Palm Olien and KIBOR Futures.

Pakistan Mercantile Exchange Limited started its operations in May 2007 as a fully electronic exchange with nationwide reach. It is a demutualized exchange with 100% institutional shareholding. It is licensed and regulated by the Securities and Exchange Commission of Pakistan.