13. EIBL Announces Rs. 42 Million Post-Tax Profit - Business Recorder.
(March 11, 2005)

For Details - Please click: EIBL's News

14. Brief Recording of Escorts Bank was published in Business Recorder on December 29, 2004.

For Detail News please click: Brief Recording

15. Meeting of the Board of Directors of Escorts Investment Bank Limited was held on July 14, 2004.

A Meeting of the Board of Directors of Escorts Investment Bank Limited was held on July 14, 2004 at Karachi. On invitation of the President and CEO, Mr. Rashid Mansur the Governor State Bank of Pakistan, Dr. Ishrat Husain was kind enough to attend the Board Meeting.

The meeting started with recitation of the Holy Quran. The Chairman Board of Directors, Mr. Bashir Ahmed welcomed the honorable guest, the Governor State
Bank of Pakistan at the meeting and the CEO introduced the Directors to the Governor. Later President & CEO gave a presentation to the Governor on the Background, Broad Policy Objectives and the Operational Strategy of the Five
Year Business Plan - Escorts Beyond 2001!

Mr. Mansur informed the Board and the honorable guest that in 2001 EIBL was ranked last amongst the operationally active Investment Banks, in terms of
Balance Sheet size, Equity, ROA and EPS. As part of the Business Plan the Mission and Vision Statements were redrafted and a Paradigm Shift in Operational Strategy
was made. On the progress of the Bank during the last two and a half-years, he shared with the Board the financial performance of the Bank in that period and
also the qualitative aspects where the Bank had made remarkable growth.

Mr. Mansur also informed the Board and the honorable guest of the opening of
the fifth Investment Services Center (ISC) at KSE Building, Karachi. He added that
the management of EIBL intends to open five more ISCs in major cities of Pakistan
in order to increase its market outreach.

The Governor appreciated the performance of the Bank and the turnaround
achieved in the last 2 and a half-years and said he was pleasantly surprised
with the performance of Escorts Bank and the experience he got from the Bank.

The Governor said that he had been trying to understand the "animal" called Investment Bank, whether it's a "hound or a hare" and their true roll in the
financial sector. He acknowledged that after seeing the NBFC model adopted by Escorts Investment Bank Limited, his reservation about Investment Banks in
general had been removed. He said that other Investment Banks in Pakistan
should also adopt this multi-service model. He also appreciated the Bank's plan
of "Taking Capital Markets To The People" and emphasized that only by enhancing the market outreach can investment bank survive the competition from Commercial Bank. He said the role of investment banks was different from commercial banks.

He said depth in the market was required for commercial and investment banking.
"It is time for the investment banking sector to wake up and play a vital role for mobilization of savings in the country."

The Board thanked the honorable guest, Dr. Ishrat Husain and invited him to
attend the luncheon hosted in his honor.

16. Invesment Sevices Center, Karachi....! (July 14, 2004)

Another Investment Services Center opened on July 14, 2004 at Karachi Stock Exchange Building, Karachi.

For details please click: Taking Capital Markets To The People!

17. Taking Capital Markets To The People! (May 25, 2004)

Dr. Tariq Hassan, Chairman Securities & Exchange Commission of Pakistan, inaugurated First Model Investment Services Center of Escorts Investment
Bank Limited at Davis Road, Lahore on May 25, 2004.

Addressing an audience at Lunch hosted in honor of the Chairman SECP, Mr. Rashid Mansur, President & CEO of Escorts Bank reiterated Escorts Bank's commitment to Shift from Pseudo Commercial Banking activities to genuine Investment Banking. He further added, "We had made a conscientious choice to remain an Investment Bank within the Non-Banking Financial Company structure, designed and regulated by the SECP". Speaking on the issue of enhancing the market outreach and Taking Capital Markets To The People, Mr. Mansur announced opening of five more such center in major cities of Punjab in near future. While sharing the performance of Escorts Bank with the audience, Mr. Mansur said that the assets of Escorts Bank have grown
three times and net profitability 18 times, EPS moved from 23 paisas to above
Rs. 4.- per share, while the Return on Average Equity increased from around 2 %
to over 31 %. Share Price of Escorts Bank also improved from Rs. 5.- to over
Rs. 16.-, since launching of the current Business Plan, Escorts Beyond 2001.

Mr. Mansur added that Corporate Governance, transparent, accurate and timely Financial Information and a system of checks and balances are the factors on which Investor confidence rests. He also hoped that in these efforts Escorts Bank shall
not be alone and that institutions like Escorts Bank will continue to receive support
of SECP and the State Bank of Pakistan.

Dr. Tariq Hassan on the occasion appreciated the conscientious efforts being made by Escorts Bank for repositioning itself as a genuine Investment Bank. He, while emphasizing the need to enhance the market outreach and broadening of revenue stream, supported Escorts Bank's perspective of taking the Capital markets to the people. He also hoped that Escorts Bank would lead the NBFCs in covering the
major cities of Punjab into proactive and vibrant financial centers.

Earlier, Dr. Tariq Hassan was given a briefing on the basic philosophy of Taking Capital Markets To The People, that is the foundation for establishing Investment Services Centers all across Punjab, during the round of the Investment Services Center at Davis Road, Lahore.

18. EIBL becomes a Corporate Member of Karachi Stock Exchange
(Guarantee) Limited.

Escorts Investment Bank Limited launched its Capital Markets Operations in April
19, 2003 with the acquisition of Corporate Membership of Lahore Stock Exchange
(G) Limited. After establishing itself as a leading Brokerage House in Lahore, EIBL
has now acquired the Corporate Membership of Karachi Stock Exchange (G) Limited.