HAFEEZ SHAIKH TO ADDRESS ROAD SHOW FOR 2.5 % OGDCL SHARES IPO OFFER AT KARACHI ON MONDAY

Islamabad, October 12, 2003

The Federal Minister for Privatisation & Investment Dr. Abdul Hafeez Shaikh will address the Road Show.for the Initial Public Offering (IPO) for the sale of 2.5 % shares of Oil & Gas Development Company Limited (OGDCL) being held at Sheraton Hotel, Karachi on Monday October 13, 2003 at 4 p.m under the auspices of the Privatisation Commission and the Lead Managers for the offer for sale of OGDCL shares, KASB Securities.

The Initial Public Offering (IPO) of 2.5 % shares(107.5 million shares) of  Oil & Gas Development Company Limited (OGDCL) has a green shoe option of additional 2.5 % shares in case of over subscription. Preference will be given to applicants for the minimum lot of 1000 shares, which are being offered at a price of Rs. 32/ = per share. It will be the second Road Show in this connection while the Road Show at Lahore is being organized on October 15, 2003.