I/We

of

(full address)

being a member of ORIX Investment Bank Pakistan Limited hereby appoint

of

(full address) or

failing him/her

of

(full address)

as my/our Proxy to attend and vote for me/us and on my/our behalf at the Eighth Annual General Meeting of the Company to be held on October 24, 2003 and at any adjournment thereof.

Signature this ______________________ of ______________________________ 2003.

                                 (day)                                               (date, month)

Please affix

Revenue Stamp

Of Rs. 5/-

Signature of Member

:

Folio Number

:

Number of shares held

:

Witnesses

1.________________________________________

Signature and Company Seal

2.________________________________________

1.

A member entitled to attend and vote at a General Meeting is entitled to appoint a Proxy to attend and vote instead of him/her.

2.

The instrument appointing a Proxy shall be in writing under the hand of the appointer or of his / her attorney duly authorised in writing, if the appointer is a corporation, under its common seal or the hand of an officer or attorney duly authorised. A proxy need not be a Member of the Company.

3.

The instrument appointing a Proxy, together with the Power of Attorney, if any, under which it is signed or a notariaHy certified copy thereof, should be deposited at the office of Share Registrar of the Company, Noble Computer Services (Pvt) Ltd., 14, Banglore Town Housing Society, Main Shahrae Faisal, Karachi not less than 48 hours before the time of holding the meeting.

4.

Any individual Beneficial Owner of the Central Depository Company, entitled to vote at this meeting must bring his/her National Identity Card with him/her as prove of his/her identity, and in case of proxy, must enclose an attested copy of his/her National Identity Card. Representative of corporate members should bring the usual documents required for such purposes.