Stock Market Highlights. MARKET WATCH Market Performance

Transcription

1 MARKET WATCH Market Performance week s slump in the market was followed by a persistent rise in the Index this week, which climbed by 3.25% to end the week at 4, points, and rose back above the 10,000 points threshold of the weighted index. This ascent was reflected in the performance of the majority of stocks, with 106 of the 197 companies traded ending in the green. Despite this, however, trading activity was subdued, with the average daily traded value registering at a mere JD million compared to the JD million value of last week. Rumours and positive expectations of better than anticipated second quarter financial results led to concentrated trading activity on the stocks of the market blue-chips, thereby registering the Arab Potash Company, the Jordan Phosphate Mines, Jordan Petroleum Refinery, and the Arab Bank in our list of most active shares in terms of value traded. Al Fatihoun Al-Arab for Industry and Trade (FATI) was listed on the market this week, opening at a price of JD 1.05 with 1.19 million shares traded on its first trading day for a total value of JD 1.29 million. In contrast to most IPOs during their first week of trading, Al Fatihoun did not make it onto our list of top gainers. The positive performance of the market was mirrored in the market capitalisation, with registered at JD billion, while the market rose from times last week to times. Sector Performance The Industrial Sector took the lead in terms of total value traded for this week, registering at JD million, thereby capturing 52.4% of the total value traded, while the Services Sector claimed the lion s share in terms of volume traded with million shares. The Banking Sector had a value and volume traded of JD million and 9.32 million shares, respectively, while the trading value for the Insurance Sector reached JD million. In terms of sector indices, the Industrial Sector s Index outshone the remaining sectors, soaring by a whopping 16.24%, attributable to the increases in share prices of the heavyweights, the Jordan Phosphate Mines (20.9%), the Arab Potash Company (19.5%), and the Jordan Petroleum Refinery (9.4%). The Banking and Insurance sector indices climbed by 1.61% and 0.03% respectively, while the Services Sector Index was the sole index to descend, dropping by 0.39% compared to last week. Block Trades Five block trades were executed this week, with 2.55 million Stock Market Highlights This YTD General Index (Weighted) 10, , % 41.14% General Index (Free Float) 4, , % 28.20% This Value Traded (JD millions) (43.31%) Volume Traded (millions) (36.35%) Index The s Top Gainers and Losers General Market Index Performance Index ly Index 20/07/08 21/07/08 22/07/08 23/07/08 24/07/ /07/07 24/09/07 24/11/07 24/01/08 24/03/08 24/05/08 24/07/08 Company Current Close Close % Jordan Co. for Electricity & Oil Shale (JOSE) % Jordan Phosphate Mines (JOPH) % Jordan Industries Resources (JOIR) % Arab Pesticides & Veterinary Drug (MBED) % Industrial Industries & Match/Jimco (INMJ) % Mediterranean Tourism Investment (MDTR) (8.37%) The National Insurance (NAAI) (8.89%) Middle East Phar. & Chm. Ind.& Med. (MPHA) (9.35%) Union Tobacco & Cigarette Industries (UTOB) (9.38%) Specialized Trading & Investments (SPTI) (10.84%) The s Most Active Stocks in Number of Shares Traded* Company Volume of Shares Jordan Industrial Resource (JOIR) 5,664,754 Ad-Dulayl Ind. Park Co. & Real Estate (IDMC) 5,459,315 South Electronics (SECO) 4,507,213 Al Faris Nat l Co, for Invest. & Trade (CEBC) 3,318,128 Union Land Development Corp. (ULDC) 3,304,310 The s Most Active Stocks in Value of Shares Traded* Company Value of Shares (JD) Jordan Phosphate Mines (JOPH) 116,002,664 Arab Bank (ARBK) 57,899,584 Jordan Petroleum Refinery (JOPT) 37,738,584 Arab Potash Mines (APOT) 29,984,880 Jordan Steel (JOST) 25,513,754 * excluding block deals ly Index 1

2 shares traded for an aggregate amount of JD 4.84 million. The Investment House (INVH) and Al-Faris National (CEBC) each had two block deals transacted on their stock; INVH had 770,000 shares traded at a price of JD 1.85 per share, while CEBC had 1.47 million shares traded for JD 2.65 million. The final block deal was carried out on the shares of the United Arab Investors (UAIC) to the value of JD 765,000 over 306,000 shares. CORPORATE NEWS The National Portfolio Securities Company (NPSC) announced its financial results for the first half of 2008, with net profits amounting to JD 8.2 million, registering an increase of 270% over the same period of last year. Al Bilad for Securities and Investment (BLAD) declared a profit of JD 1 million for the first half of this year, up 158% compared to the JD 388 thousand registered for the same period of ArabCorp (ARED) established the «Horizon Middle East» Company, an industrial company extending Horizon-Dubai s activities and operations, with an investment of JD 15 million. The Company is solely owned by ArabCorp, and will represent its industrial arm for construction projects. The Professional for Real Estate Investment and Housing Company (PROF) declared its intention to establish real estate projects in the Kingdom with investments of up to JD 280 million. These projects include a residential city in the south of Amman region, on an area of land of 30 thousand dunums, requiring an investment of JD 200 million, in addition to a residential complex, which will include 300 apartments in the Saroo area. New Sector Classification Indices Darat Jordan Holdings (DARA) revealed plans to execute projects worth JD 150 million in the Kingdom, in the fields of real estate, tourism, and education, over the coming two years. Index This % Banks 5, , % Insurance 4, , % Financial Services 9, , % Real Estate 8, ,130.8 (0.3%) Financial 5, , % Health Care Services 1, ,062.9 (0.1%) Educational Services 3, , % Hotels & Tourism 2, ,354.5 (1.7%) Transportation 1, ,394.3 (0.9%) Tech. & Communications 2, , % Media 4, , % Utilities & Energy 8, , % Commercial Services 2, , % Services 3, , % Pharm. & Medical Industries 2, , % Chemical Industries 2, , % Paper & Carton Industries 1, , % Printing & Packaging 1, ,942.2 (0.6%) Food & Beverage 2, , % Tobacco ,990.2 (2.9%) Mining & Extract. Industries 11, , % Engineering & Construction 3, , % Electric Industries 9, , % Textiles, Leather & Clothing 2, , % Glass & Ceramic Industries 1, ,377.6 (0.4%) Industries 5, , % General Index 4, , % The Jordan Phosphate Mines Company (JOPH) signed an agreement with the Indonesia-based Petrokimia Gresik Company to set up a joint project for the production of 200 thousand tonnes of phosphoric acid annually, which will utilise approximately 1 million tones of phosphate annually. The Jordan Vegetable Oil Industries Company (JVOI) announced their financial results for the first half of 2008 with net profits before tax and provisions amounting to JD 1.05 million compared with a loss of JD 0.33 million for the same period of last year. Inwan Investment Company, in its extraordinary meeting, changed its name to «Amlak Finance», and increased the Company s capital by JD 8 million, 5 million of which will be allotted to Amlak Jordan Limited, a wholly owned subsidiary of UAE s Amlak Finance, and 3 million will be allotted to the International Finance Corporation (IFC). MACROECONOMIC NEWS Statistics issued by the Central Bank of Jordan revealed that credit facilities granted by licensed banks registered at JD 12.5 billion at the end of May 2008, of which JD 2.82 billion were granted to the general trading sector. The Central Bank of Jordan expects that the current record-high inflation rate will begin to decline by the end of this year. The Central Bank also declared the formation of a «Financial and Economic Stability Committee» to issue periodic reports on the financial and economic state of the Kingdom. 2

3 The value of clearance cheques increased during the first five months of 2008 by 37.5% compared to the same period of last year to reach a value of JD billion. Over the same period, returned cheques grew in value to reach JD 720 million, compared to JD 458 million for the same period of last year. A survey revealed that 44.4% of Jordanians believe that the economy is in a bad or very bad state, and that 43% of the population has a low or very low income. In addition, 39.9% of Jordanians have weak or very weak purchasing power for the purchase of necessities, while 39.9% indicated that job opportunities are not available. The investment unit of the Social Security Corporation realized a profit of JD 116 million during the first half of the year, with an increase in its strategic portfolio of JD 1.05 billion, registering an increase in its realized and unrealized profit for this period to JD 1.22 billion. A partnership agreement was signed between the Arab Mining Company and the Jordan Al Abyad Fertilizers and Chemicals Company (JAFCO) with the aim of diversifying the manufacturing industries for potash and phosphate, and is expected to cost USD 90 million. The project will produce 132 thousand tonnes of sulphuric acid, 80 thousand tonnes of potassium sulphate, 65 thousand tonnes of triple super phosphate, and will create 370 job opportunities. The Fuel Pricing Committee confirmed that prices of oil in the local market will be reduced should the global prices of oil continue to retreat. According to the Department of Statistics, the average wholesale price index grew by 18.7% during the first half of 2008 compared with the same period of last year, rising from points to points. The National Electric Power Company will begin exporting electrical power to Syria this week, in accordance with an energy exchange agreement signed between the two countries. The estimated amount to be exported is 250 mega watts per hour, equivalent to 3,000 mega watts per day. The Ministry of Interior announced that the number of visas granted to Iraqis during the period of April 22nd until July 9th amounted to 17,054, while applications of 6 thousand Iraqis were rejected and 4 thousand are still under consideration. The Ministry of Agriculture has allocated JD 33.5 million to support the agricultural sector, with JD 8.5 million allocated to the exemption of interest on loans taken out by farmers, JD10 million to compensate farmers for the crops that were damaged by frost last year, and JD15 million to support the transformation of unprotected farming to protected farming. The Belgian ambassador to Jordan stated that the trade volume between Jordan and Belgium amounted to EURO 100 million. The prime ministers of Jordan and Morocco have signed 19 mutual cooperation agreements and memorandums of understanding in various fields, designed to boost cooperation between the two countries, particularly in terms of maximising the trade volume between them. A judicial court ruling demand that the Horizon Investment and Development Company pay an amount of JD 29 million to the Bank of Jordan, in addition to all related legal fees and expenses and accrued interest, relating to the banking facilities case of last year. A report issued by the Higher Media Council revealed that the degree of journalistic freedom in Jordan amounted to 52.3%, registering the Kingdom with the category of «relatively free» within a index of five categories; «no freedom», «low freedom», «relative freedom», «high freedom», and «very high freedom». International statistics revealed that there are 1.1 million internet users in Jordan at the end of the first quarter of Jordan ranked in 6th position amongst 14 Middle Eastern countries in terms of number of users, which increased by 8.85 since year 2000, and in 9th position in terms of internet usage penetration rate, which reached 18.2% at the end of March of this year. 3

4 ARAB BANKING CO. ABCO 2008 Q1 64,471, ,384,790 80,671,022 3,776, % 19.1% (1.9%) 136,035, ,657 14,130 ARAB JOR/INV/BANK AJIB 2008 Q1 100,000, ,181, ,067,186 2,750, % 16.6% % 189,000, , ,554 ARAB BANK ARBK 2008 Q1 534,000,000 21,666,537,000 3,584,588, ,617, % 13.5% % 12,249,960, ,534,115 57,899,584 BANK OF JORDAN BOJX 2008 Q1 100,000,000 1,569,932, ,921,261 6,790, % 17.2% (2.0%) 291,000, ,236 1,395,540 CAIRO AMMAN BANK CABK 2008 Q1 80,000,000 1,444,747, ,997,283 4,607, % 12.3% % 264,000, , ,185 CAPITAL BANK EXFB 2008 Q1 132,280, ,773, ,341,234 3,904, % 8.8% % 314,826, , ,069 INDSTRL DEV BANK INDV 2008 Q1 24,000, ,448,302 61,396,379 1,732, % 11.4% (7.3%) 97,680, ,256,182 14,113,432 JOR INV FIN BANK JIFB 2008 Q1 61,325, ,585,500 82,918,090 3,343, % 16.5% (4.6%) 152,086, , ,032 JCBANK JOGB 2008 Q1 69,575, ,339,056 81,351,349 2,416, % 11.9% (1.2%) 175,329, , ,340 JOR ISLAMIC BANK JOIB 2008 Q1 81,250,000 1,734,798, ,304,799 7,828, % 22.8% (2.4%) 526,500, ,138,222 7,497,629 JOR KUWAIT BANK JOKB 2008 Q1 100,000,000 2,002,389, ,084,745 13,328, % 23.7% (0.5%) 736,000, , ,548 JORDAN AHLI BANK JONB 2008 Q1 110,000,000 2,035,250, ,062,823 9,010, % 17.9% % 273,900, ,229,426 3,076,655 SOCGEN BK - JORDANIE MEIB 2007 Q4 40,455, ,921,355 27,312,443 2,206, % 8.4% % 102,353, N/A N/A HOUSING BK TRD FIN THBK 2008 Q1 250,000,000 5,096,782, ,159,385 30,806, % 14.8% (2.1%) 2,200,000, , ,427 UNION BK SAV/INV UBSI 2008 Q1 95,000,000 1,075,998, ,625,702 5,439, % 10.0% % 332,500, , ,833 Banking Sector 1,842,357,705 40,449,070,682 6,138,801, ,559, % 14.3% 18,041,170, ,317,833 86,367,958 ALNISR ALARABI AAIN 2008 Q1 10,000,000 30,214,132 18,232, , % 16.6% % 57,000, ,571 ARAB ORIENT INS AALI 2007 Q4 10,000,000 27,755,715 12,523,505 1,462, % 11.9% % 29,900, ,815 14,670 ARAB GERMAN INS AGICC 2008 Q1 10,400,680 43,765,882 9,029,042 (34,570) (0.003) (0.3%) (1.4%) (2.0%) 35,362,312 Negative 1,871,206 6,319,144 ARAB INT UNI INS AIUI 2008 Q1 6,000,000 10,554,341 4,961,996 (73,182) (0.012) (2.8%) (5.9%) % 7,800,000 Negative 5,405 7,094 EURA ARAB INS. AMMI 2008 Q1 6,720,000 18,624,089 7,999, , % 23.4% % 8,736, ,567 10,212 BARAKAH TAKAFUL ARAI 2007 Q4 5,944,797 9,899,246 5,457, , % 11.9% % 14,267, ,443,507 3,352,687 ARAB ASSURERS ARAS 2008 Q1 8,000, ,142 9,529,018 40, % 1.7% (1.5%) 10,640, ,715 30,554 ARAB JOR INSURANCE ARGR 2008 Q1 10,000,000 15,404,932 1,079,085 17, % 1.2% (2.6%) 22,400,000 > ARAB INS ARIN 2007 Q4 8,000,000 25,758,171 10,272, , % 9.1% % 16,400, N/A N/A ARABIAN SEAS INS ARSI 2008 Q1 21,000,000 18,944,334 14,803, , % 3.6% % 19,110, N/A N/A DELTA INSURANCE DICL 2008 Q1 6,300,000 11,225,481 7,785, , % 22.0% % 17,892, N/A N/A DARKOM DRKM 2007 Q4 10,000,000 9,191,628 9,132,044 (867,956) (0.087) (9.4%) (9.5%) % 10,000,000 Negative 57,393 57,256 FIRST INSURANCE FINS N/A N/A 24,000,000 N/A N/A N/A N/A N/A N/A % 26,400,000 N/A 57,205 62,013 GENERAL ARAB INS GARI 2007 Q4 7,722,504 19,335,252 12,244, , % 9.9% % 8,880, ,050 6,928 GERASA INSURANCE GERA 2007 Q4 3,981,840 6,042,804 1,801,234 (644,068) (0.162) (10.0%) (33.1%) % 6,729,310 Negative 2,000 3,380 HOLY LAND INS HOLI 2008 Q1 4,000,000 10,029,049 3,023,538 (420,870) (0.105) (17.9%) (52.1%) % 6,720,000 Negative 820 1,310 JERUSALEM INS JERY 2007 Q4 5,460,000 18,527,357 9,227,311 1,537, % 18.2% % 15,069, N/A N/A JOR INT INSUR CO JIJC 2008 Q1 16,500,000 36,545,102 22,114, , % 7.2% (4.2%) 26,400, ,506 2,412

5 JOR FRENCH INS JOFR 2008 Q1 9,100,000 20,596,567 6,236,143 (200,435) (0.022) (3.9%) (16.6%) % 8,827,000 Negative 3,280 3,158 JORDAN INSURANCE JOIN 2008 Q1 30,000,000 86,094,973 55,823,935 3,871, % 33.8% % 108,000, ,704 41,799 MED GULF-JORDAN MDGF 2007 Q4 10,000,000 14,069,879 10,095,730 95, % 0.9% % 25,400,000 >100 33,542 85,359 MIDDLE EAST INS MEIN 2008 Q1 18,000,000 68,552,273 40,623,800 (199,727) (0.011) (1.2%) (2.0%) % 50,760,000 Negative 700 2,019 NATIONAL INSURANCE NAAI 2008 Q1 4,000,000 9,353,587 4,706,206 99, % 8.5% (8.9%) 4,920, ,600 1,971 OASIS INSURANCE OASI 2007 Q4 5,000,000 4,327,014 (729,660) (456,406) (0.091) (7.0%) (33.3%) % 1,900,000 Negative 152,684 57,984 PHILADELPHIA INS PHIN 2007 Q4 4,000,000 8,192,692 4,579, , % 6.5% % 5,000, N/A N/A ISLAMIC INSUR CO TIIC 2008 Q1 8,000,000 24,020,895 15,543,718 2,335, % 67.8% % 39,520, ,913 4,674,255 UNITED INSURANCE UNIN 2008 Q1 8,000,000 19,289,296 12,980, , % 20.3% % 13,760, N/A N/A YARMOUK INS YINS 2008 Q1 5,000,000 11,828,576 6,971,665 (229,525) (0.046) (7.6%) (13.0%) (1.5%) 9,950,000 Negative Insurance Sector Total 275,129, ,848, ,047, % 11.7% 607,744, ,643,397 14,738,100 AL-AMIN FOR INV AAFI 2008 H1 10,000,000 31,089,196 29,910,135 15,397, % 136.0% % 61,800, ,051,979 13,153,458 NAT`L COM CENTER ABLA 2008 Q1 6,000,000 7,217,536 5,537,995 (78,815) (0.013) (4.3%) (5.7%) % 14,700,000 Negative 33,218 82,398 AL-BELAD MED SRV ABMS 2008 Q1 15,000,000 22,770,908 18,951, , % 3.6% % 18,900, ,259 59,516 COMPRHNSVE MUTLP TRAN ABUS 2008 N/A 20,000,000 N/A N/A N/A N/A N/A N/A (4.5%) 42,800,000 N/A 192, ,219 ARAB EAST INVST. AEIV 2008 Q1 40,000, ,363,512 92,466,990 17,926, % 93.9% % 136,400, ,475 1,042,059 ARAB INT INV EDU AIEI 2008 Q1 40,500, ,033,317 51,517,990 (475,638) (0.012) (0.4%) (3.6%) % 153,900,000 Negative 14,320 53,900 ISRA EDUE AIFE 2007 Q4 15,000,000 34,919,594 18,309,648 1,929, % 11.7% (3.6%) 39,900, ,100 14,599 ARAB INTL HOTEL AIHO 2008 Q1 25,000,000 72,925,506 62,999, , % 4.7% (3.6%) 67,500, ,137 8,528 AL SHARQ INV AIPC 2007 Q4 16,000,000 20,466,000 19,198,188 1,493, % 7.8% % 38,400, , ,461 JOR INV.&TRSM ALFA 2007 Q4 7,500,000 8,206,763 6,925,123 (461,882) (0.062) (5.5%) (6.5%) (4.0%) 9,000,000 Negative 8,550 10,472 AMAD REAL ESTATE INV. AMAD 2008 Q1 6,600,000 10,576,343 9,986, , % 18.8% (0.9%) 14,058, , ,357 AL-AMAL INV. AMAL 2007 Q4 7,500,000 10,719,907 8,937,032 1,226, % 14.7% % 17,925, ,900,634 6,825,596 AMMAN FOR DEV.& INV AMDI 2007 Q4 7,000,000 11,691,662 (1,177,983) (1,075,388) (0.154) (9.0%) 168.0% % 46,760,000 Negative N/A N/A AMWAL INVEST AMWL 2008 Q1 42,500,000 74,537,881 62,701,991 2,820, % 18.4% % 119,000, ,136,825 3,180,844 ARD ANNOMOW ARDN 2007 N/A 500,000 N/A N/A N/A N/A N/A N/A (3.8%) 1,500,000 N/A 3,415 10,295 ARAB REAL EST ARED 2008 Q1 30,000,000 87,420,860 40,331,076 2,486, % 27.4% (3.6%) 56,100, , ,529 AWTAD INVESTMENTS A 2007 Q4 1,000,000 1,237, ,522 2, % 0.2% (4.8%) 2,400,000 > B. AL-MAL/BEITNA BAMB 2007 Q3 28,600,000 71,121,609 58,607,506 9,855, % 23.6% (2.9%) 47,762, , ,099 OFFTEC INVESTMENTS BDIN 2007 Q4 42,000,000 46,302,863 42,582, , % 2.2% (1.0%) 39,900, , ,058 BINDAR BIND 2007 Q4 13,000,000 28,854,138 14,802,904 1,379, % 12.3% % 40,170, , ,291 BILAD INVESTMENTS BLAD 2008 H1 10,000,000 14,540,220 11,540, , % 14.1% % 18,300, ,886 27,050 AL-FARIS NATIONAL CEBC 2007 Q4 25,000,000 33,816,486 25,547, , % 1.9% % 43,250,000 >100 3,318,128 5,752,554 CENTURY INV.GRP CEIG 2007 Q4 5,191,560 9,220,062 6,222, , % 9.2% (2.3%) 6,645, ,460 68,327

6 CONSULTANT AND INV GR CICO 2007 N/A 22,000,000 N/A N/A N/A N/A N/A N/A (4.9%) 25,740,000 N/A 117, ,445 CONTEMPRO COHO 2008 Q1 6,000,000 9,081,061 8,647, , % 6.8% % 9,240, , ,191 DARAT JORDAN HOLDING DARA 2008 N/A 15,000,000 N/A N/A N/A N/A N/A N/A % 17,700,000 N/A 102, ,261 D-KHALILI & SONS DKHS 2007 Q4 12,200,000 43,555,212 6,711,362 79, % 1.2% (2.5%) 28,792,000 > , ,048 DAMAC REAL ESTATE DMAC 2007 Q4 5,000, ,190, , % 3.7% (4.5%) 15,750, ,133 77,239 EMMAR INV. DEV. EMAR 2008 Q1 11,970,000 33,409,223 16,279,367 1,088, % 27.7% % 25,735, , ,395 FIRST FINANCE FIFI 2008 Q1 50,000,000 56,707,560 52,442,415 3,063, % 23.4% % 57,500, , ,630 FALCON INV &FIN FIFS 2008 Q1 4,085,844 5,769,118 4,018,913 60, % 9.2% % 5,393, , ,327 MODEL RESTAURANTS FOOD 2007 N/A 25,000,000 N/A N/A N/A N/A N/A N/A % 38,250,000 N/A 418, ,776 FIRST JORDAN FRST 2008 Q1 150,000, ,407,775 13,801, % 34.9% (1.9%) 156,000, , ,933 BATELCO JORDAN FTGR 2007 Q4 1,870,018 11,251,553 1,659,973 (356,333) (0.191) (3.2%) (19.4%) % 8,583,383 Negative N/A N/A FUTURE ARAB FUTR 2007 Q4 15,500,000 16,426,496 16,268, , % 3.8% (0.9%) 17,670, , ,518 JOR HIMMEH MINERAL HIMM 2007 Q4 500,000 1,634,405 1,618,443 (10,186) (0.020) (0.6%) (0.6%) N/A N/A % 1,065,000 Negative N/A N/A HIGH PERFORMANCE HIPR 2007 Q4 12,000,000 12,445,598 12,387, , % 3.1% % 22,080, , ,276 INT`L BROKERAGE IBFM 2008 Q1 21,295,117 44,238,553 24,469, , % 13.3% (0.8%) 26,192, , ,319 INT CO MED INV ICMI 2008 Q1 4,500,000 5,665,572 4,164,355 (338,138) (0.075) (24.9%) (31.2%) % 17,595,000 Negative 772,818 3,022,792 INVEST ESTATE INDUST IEAI 2008 H1 30,000,000 56,122,492 30,632,102 (821,177) (0.027) (3.0%) (5.3%) (0.6%) 98,400,000 Negative 74, ,744 IHDATHIAT CO. IHCO 2008 Q1 3,000,000 3,772,401 3,195,598 96, % 11.8% % 6,270, , ,606 ARABIAN DEV CO INMA 2008 Q1 7,000,000 17,098,826 16,047, , % 10.0% % 14,840, ,016,466 2,069,052 INV. & INTEG INDUS INTI 2007 Q4 7,000, ,789, ,207 (3,679,952) (0.526) (2.9%) (825.0%) N/A N/A - N/A - N/A N/A N/A INV HOUSE INVH 2008 Q1 12,000,000 31,982,397 11,338, , % 14.7% % 23,040, ,222,416 2,290,023 IRBID DISTRICT ELEC IREL 2007 H1 4,000,000 89,194,484 6,535, , % 8.2% (3.3%) 37,320, , ,905 ITTIHAD SCHOOLS ITSC 2007 Q1 10,617,815 19,423,517 14,829,209 98, % 2.6% % 20,173, ,263 1,074,195 JOR DUTY FRE SHP JDFS 2007 Q4 5,000,000 18,383,395 15,414,000 4,152, % 28.0% % 42,750, ,375 28,826 DIMENSIONS JEDI 2007 Q4 10,000,000 9,885,863 9,799,169 (200,831) (0.020) (2.0%) (2.0%) % 10,600,000 Negative 93,892 99,712 JORDAN EXPAT.INV JEIH 2008 Q1 15,000,000 25,193,843 22,313,801 3,384, % 65.4% % 30,450, ,812 1,874,795 JORDAN EXPRESS JETT 2008 Q1 10,800,000 20,189,089 18,119, , % 12.4% (0.8%) 25,704, , ,541 INTERNATIONAL INV. JIIG 2007 Q4 10,000,000 12,686,239 9,577,184 (292,915) (0.029) (2.3%) (3.0%) (4.3%) 13,200,000 Negative 40,050 53,740 JORDAN INTL TRAD JITC 2008 Q1 3,400,000 6,357,456 4,318, , % 39.6% % 12,886, ,225 3,087,423 JOR LOAN GRNT.CO JLGC 2007 Q4 10,000,000 25,328,525 17,012, , % 4.3% % 12,100, ,245 32,481 JOR MORTGAGE REFIN JMRC 2008 Q1 5,000, ,302,939 7,182, , % 12.2% N/A N/A - N/A - N/A N/A N/A TAJCATERINGHOUSING JNTH 2007 Q4 10,000,000 13,120,545 11,196,983 12, % 0.1% % 40,700,000 >100 3,037,335 11,983,415 JORDAN CENTRAL JOCE 2008 Q1 4,500,000 8,840,756 5,183,643 81, % 11.5% % 17,100, , ,378 JOR ELECTRIC PWR JOEP 2008 Q1 70,000, ,736,896 97,589, , % 2.6% (2.4%) 476,700,000 >100 2,051,423 14,166,151 JOR HOTEL TOURS JOHT 2007 Q4 10,000,000 29,048,520 20,711,045 2,959, % 15.0% (7.7%) 67,000, ,775 JOR INV TRUST JOIT 2008 Q1 29,513,889 65,288,968 50,125, , % 2.1% % 76,736, ,360 6,051

7 RESOURCES INVEST JOMA 2007 Q4 11,000,000 11,009,388 10,979,558 (23,462) (0.002) (0.2%) (0.2%) (7.3%) 20,900,000 Negative 248, ,568 JORDAN CONSULTING JOMC 2007 Q4 1,400,000 1,739, ,664 76, % 10.9% (2.6%) 2,660, JOR PRESS/ PUBLISH JOPP 2008 Q1 4,000,000 18,621,494 11,900, , % 7.1% % 15,200, ,722 6,514 JOR TRADE FAC JOTF 2007 Q4 15,000,000 31,976,579 17,829,394 1,710, % 9.9% % 33,000, N/A N/A JOR PROJ TOUR DEV JPTD 2007 Q4 17,000,000 57,035,057 31,678,426 3,493, % 11.7% % 151,300, N/A N/A JO REALESTATE JRCD 2007 Q4 30,000,000 44,035,613 38,665,531 7,953, % 22.4% % 46,500, , ,963 JORDAN TELECOM JTEL 2008 Q1 250,000, ,082, ,386,766 25,182, % 23.8% (1.1%) 1,545,000, , ,122 KAFA`A INVESTMENTS KAFA 2007 N/A 4,000,000 N/A N/A N/A N/A N/A N/A (4.9%) 12,360,000 N/A 445 1,402 AL-DAWLIYAH H&M MALL 2008 H1 43,200,000 66,863,013 55,640,870 1,472, % 5.3% (1.3%) 67,392, ,443 25,707 MEDITER. TOURISM MDTR 2007 Q4 45,000,000 51,919,647 49,169,210 3,097, % 6.4% (8.4%) 93,600, ,859 MIDDLE EAST DIV MEDI 2007 Q4 2,000,000 3,402,672 2,183, , % 6.3% % 13,340,000 > ,001 METHAQ MEET 2007 Q4 7,500,000 11,466,232 7,814,196 (333,353) (0.044) (3.9%) (5.1%) % 13,275,000 Negative 1,696,516 2,996,874 TAJ TOURIST PROJ MERM 2008 Q1 40,000,000 49,885,203 45,527,749 (49,914) (0.001) (0.4%) (0.4%) (2.9%) 66,400,000 Negative 211, ,671 MASAFAT TRANSPORT MSFT 2007 Q4 12,000,000 14,764,665 13,182, , % 6.6% % 14,640, , ,809 TRANSPORT BARTER NAQL 2008 Q1 12,100,000 21,570,857 14,536, , % 19.8% % 29,645, ,674 1,102,373 NOPAR FOR TRADING NOTI 2007 Q4 12,100, , ,373 15, % 3.2% % 29,040,000 >100 1,349 3,132 NATL PORTFOLIO NPSC 2008 H1 15,000,000 46,328,645 28,416,096 8,205, % 67.5% (0.5%) 62,550, ,834 3,983,921 PETRA EDUCATION PEDC 2008 Q1 16,000,000 25,451,242 18,770,642 1,069, % 22.1% (1.7%) 47,200, ,191 3,513 REAL ESTATE & INV PORT PETT 2007 Q4 15,000,000 11,493,580 11,289, , % 2.3% (2.5%) 17,400, , ,132 PHILADELPHIA UNI PIEC 2008 H1 15,000,000 23,791,280 17,838,469 1,584, % 17.2% (2.3%) 57,000, ,200 26,796 PALACES PRED 2008 H1 4,000,000 5,466,022 3,852,820 (65,418) (0.016) (2.8%) (3.3%) (1.5%) 18,120,000 Negative 113, ,133 J. PRESS FOUNDAT PRES 2008 Q1 7,500,000 39,559,534 35,214,942 1,807, % 21.1% % 155,625, , ,975 PROFESSIONAL PROF 2007 N/A 55,000,000 N/A N/A N/A N/A N/A N/A % 62,700,000 N/A 1,087,985 1,293,496 EAST REAL ESTATE REAL 2008 Q1 9,996,082 47,893,535 41,024, , % 1.4% (1.2%) 78,969,048 >100 3,680 28,812 REAL ESTATE DV REDV 2008 Q1 91,500, ,931, ,465,744 (719,204) (0.008) (2.1%) (3.0%) % 129,015,000 Negative 323, ,243 REAL ESTATE INV REIN 2008 Q1 7,500,000 8,845,760 7,587,168 (90,507) (0.012) (4.2%) (4.7%) % 8,925,000 Negative 43,830 52,858 AL RAKAEZ RICS 2007 Q4 10,000, ,941,420 (58,580) (0.006) (0.6%) (0.6%) % 9,700,000 Negative 397, ,744 ROYAL JORDANIAN RJAL 2008 Q1 84,373, ,135, ,173,000 (2,975,000) (0.035) (3.5%) (11.1%) (2.1%) 275,057,121 Negative 1,039,803 3,432,231 RUM TOURIST TRAN RUMM 2007 N/A 7,000,000 N/A N/A N/A N/A N/A N/A % 14,140,000 N/A 59, ,282 AL-SALEM FOR INV SALM 2007 Q4 500, , , , % 30.2% % 2,990, N/A N/A SABAEK INVESTMENTS SABK 2008 N/A 8,000,000 N/A N/A N/A N/A N/A N/A % 10,160,000 N/A 199, ,760 AL-SANABEL INT`L SANA 2008 H1 20,000,000 21,640,796 20,583, , % 2.4% % 21,800, ,293 92,235 SOUTH ELECTRONICS SECO 2007 Q4 50,000, ,779,213 50,458, , % 2.8% % 56,500, ,507,213 5,011,820 SHARECO BROKERAGE SHBC 2008 H1 12,000,000 20,292,684 14,442,313 1,647, % 22.8% % 20,160, ,120 41,729 SHIPPING LINE SHIP 2008 Q1 12,075,000 24,552,974 15,457, , % 13.2% % 29,583, ,435 13,293 SPEC.INV JOR SIJC 2008 H1 4,500,000 15,312,134 11,399, , % 7.5% % 16,380, ,339 18,822

8 SALAM INT TRN TD SITT 2008 Q1 13,200,000 54,066,924 20,567, , % 4.1% (1.7%) 30,492, ,965 30,328 SPCZ.INVST.COMD SPIC 2008 Q1 25,670,000 72,854,711 35,620,561 1,497, % 18.2% (3.4%) 255,159, ,014,947 10,324,579 SPCZ.TRDG&INVST SPTI 2007 Q4 3,075,000 5,113,140 3,628, , % 9.2% (10.8%) 5,565, , ,259 TAAMEER JOR HLDGS TAMR 2007 Q4 211,982, ,524, ,619,320 (3,200,557) (0.015) (1.2%) (1.6%) % 445,163,403 Negative 1,766,826 3,700,244 AL-TAHDITH THDI 2007 Q4 2,000,000 2,243,681 1,994,419 (10,023) (0.005) (0.4%) (0.5%) % 2,920,000 Negative 54,264 79,042 TUHAMA INVESTMENTS THMA 2007 Q4 9,000,000 9,003,729 8,850, , % 5.5% % 16,380, ,322 71,266 TRUST INT`L TRANSPORT TRTR 2007 Q4 3,434,750 4,344,233 2,442, , % 5.1% % 10,304, N/A N/A UNI ARAB INVEST UAIC 2007 Q4 147,500, ,852, ,962,178 (100,797) (0.001) (0.0%) (0.0%) (1.6%) 354,000,000 Negative 3,167,378 7,666,917 UN FOR FINCL INV UCFI 2008 Q1 5,000,000 12,426,324 9,767,600 1,042, % 80.1% (0.9%) 32,900, , ,177 UNION INV UINV 2008 Q1 50,000,000 88,656,827 67,234, , % 1.3% % 71,500, ,181,769 1,697,746 UNION LAND DEV ULDC 2008 Q1 45,000,000 74,818,576 56,572, , % 4.1% % 79,200, ,304,310 5,875,460 ARAB INV. UNION UNAI 2007 Q4 3,000,000 2,850,801 2,840,721 (79,721) (0.027) (2.8%) (2.8%) (3.7%) 4,680,000 Negative 9,646 15,048 UNIFIED CO UNIF 2008 Q1 6,511,057 16,938,572 7,667,911 (170,883) (0.026) (3.9%) (8.8%) % 7,683,047 Negative 133, ,128 AL SHAMEKHA REAL VFED 2008 H1 1,200,000 2,736,923 2,447,679 93, % 7.7% (8.1%) 3,000, ,632 31,633 WINTER VALLEY TOUR WIVA 2007 H1 5,000,000 1,632,148 1,469,670 (26,975) (0.005) (3.4%) (3.6%) % 6,750,000 Negative 755,472 1,033,972 ZAHRAT ALURDON ZAHI 2008 Q1 500, , ,772 (16,086) (0.032) (12.6%) (12.8%) (8.0%) 1,375,000 Negative 1,358 3,845 ZARA INVESTMENTS ZARA 2007 Q4 125,000, ,360, ,666,590 6,079, % 5.3% (1.0%) 240,000, ,295 82,025 ZARQA EDUC ZEIC 2008 H1 8,475,000 16,897,523 12,721,634 1,216, % 19.5% (0.3%) 25,170, ,411 18,971 Services Sector Total 2,654,437,055 6,393,726,814 3,318,118, % 13.3% 7,376,798, ,334, ,168,749 ARAB ALUM IND AALU 2008 Q1 6,750,000 19,938,330 12,514, , % 3.3% % 11,812, ,389 60,803 PREMIER ACDT 2008 H1 1,330,008 9,964,447 5,989, , % 20.4% % 8,232, ,637 31,611 ARAB ELECT IND AEIN 2008 Q1 6,000,000 10,440,739 7,226,261 51, % 2.8% % 7,380, , ,929 AFIA INT CO-JORDAN AICG 2007 Q4 8,000,000 6,534,688 2,800,544 (2,978,165) (0.372) (33.6%) (69.4%) % 19,680,000 Negative N/A N/A ARAB INT L FOOD AIFF 2008 Q1 10,500,000 28,571,470 27,878,857 46, % 0.6% % 63,315,000 >100 N/A N/A AL-JANUOB FLT MF AJFM 2007 Q4 2,000,000 3,266,906 1,831, , % 13.1% (3.8%) 6,160, , ,151 AMANA AGRICULT. AMAN 2007 Q4 7,000,000 6,022,928 4,032,240 43, % 1.1% (1.8%) 3,780, , ,165 ARAB INVEST PROJ APCT 2007 Q4 20,000,000 5,851,672 4,491, , % 2.6% % 22,600,000 > , ,504 ARAB PHARMA CHEM APHC 2008 Q1 5,000,000 8,082,358 7,438,516 (8,452) (0.002) (0.4%) (0.4%) % 8,600,000 Negative 4,660 7,847 ARAB PHARMA COM APMC 2007 Q3 20,000,000 70,213,966 57,850,485 5,128, % 11.9% % 90,200, N/A N/A ARAB POTASH CO APOT 2008 Q1 83,318, ,540, ,281,000 29,268, % 29.0% % 6,718,763, ,839 29,984,880 AL-QUDS READY MIX AQRM 2007 Q4 14,000,000 18,804,891 15,357,514 (562,319) (0.040) (3.0%) (3.6%) (2.5%) 16,660,000 Negative 366, ,204 ARAB ENGINEERING IND. AREN 2007 Q4 7,117,236 12,741,860 1,066,990 (1,276,500) (0.179) (10.0%) (72.9%) N/A N/A % 12,811,025 Negative N/A N/A ARAB STEEL PIPES ASPMM 2008 Q1 9,000,000 20,769,979 15,071,754 1,236, % 32.7% % 25,470, , ,070 COMPLAND DEV&INV ATTA 2007 Q4 12,000,000 17,264,413 15,091,823 1,200, % 11.2% % 15,000, , ,185 BATON FOR BLOCKS BLOK 2007 Q4 12,000,000 14,373,566 12,210, , % 1.7% % 14,400, ,658 33,403

9 JORDAN CLOTHING CJCC 2008 N/A 3,000,000 N/A N/A N/A N/A N/A N/A % 7,740,000 N/A 1,191,426 3,054,225 DAR ALDAWA DV/IV DADI 2008 Q1 20,000,000 68,220,369 55,229,857 1,538, % 11.5% % 93,200, , ,005 EKBAL PRINT CO. EKPC 2008 Q1 5,000,000 8,320,322 6,044,492 (56,451) (0.011) (2.7%) (3.7%) (1.7%) 5,900,000 Negative 44,662 52,940 EL-ZAY READY WR ELZA 2008 Q1 11,500,000 19,331,950 10,031,892 (263,290) (0.023) (5.4%) (10.3%) % 7,705,000 Negative 267, ,350 AL-FATIHOUN AL ARAB FATI 2008 N/A 10,000,000 N/A N/A N/A N/A N/A N/A % 10,400,000 N/A 3,169,782 3,488,730 FIRST NAT VEG OIL FNVO 2008 Q1 4,500,000 6,926,290 3,019, , % 14.1% % 5,490, , ,467 GENERAL INVESTMENT GENI 2007 Q4 10,000,000 29,944,692 27,133,709 2,007, % 7.9% % 46,300, N/A N/A GENERAL MINING GENM 2007 Q4 1,500,000 2,883,362 2,449, , % 12.9% % 9,405, N/A N/A LIGHT CONCRETE GLCI 2008 H1 8,500,000 16,510,757 8,512,364 (294,393) (0.035) (4.4%) (12.6%) % 12,240,000 Negative 12,089 17,555 HAYAT PHAR. IND. HPIC 2007 Q4 9,500,000 13,001,882 11,134, , % 6.4% % 11,875, N/A N/A INDSTRAL/COMM/AGR ICAG 2007 Q4 14,396,942 10,751,992 7,172,560 1,049, % 15.8% % 7,918, N/A N/A INDL CERAMIC ICER 2007 Q3 6,000,000 8,230,658 6,534,996 11, % 0.3% (0.9%) 6,420,000 >100 68,726 74,755 AD-DULAYL INDUS. PARK IDMC 2008 Q1 21,000,000 62,822,773 57,385, , % 1.2% % 49,560, ,459,315 12,954,470 RUM ALADDIN IND. IENG 2008 Q1 7,175,097 25,594,644 8,963, , % 17.8% % 25,830, N/A N/A IND./MATCH JEMCO INMJ 2007 Q4 1,800,000 1,208,746 1,113,638 (16,186) (0.009) (1.3%) (1.4%) % 4,356,000 Negative 1,395 3,016 COMPREHENSIVE INOH 2007 Q4 4,250,000 12,868,386 6,005, , % 12.6% % 8,585, ,664 1,036,156 INTERMED PETRO CHEM IPET 2007 Q4 5,000,000 8,491,471 6,169,469 (377,815) (0.076) (4.5%) (5.9%) N/A N/A % 1,000,000 Negative N/A N/A INT TOBACCO ITCC 2008 Q1 20,000,000 72,003,230 31,053,785 1,830, % 20.8% % 54,200, ,776 40,259 JOR NEW CABLE CO JNCC 2008 Q1 27,000, ,697,645 33,194,325 2,105, % 25.7% % 85,590, ,601 49,595 JOR CERAMIC FAC JOCF 2008 Q1 7,500,000 12,156,288 9,985, , % 12.6% % 4,350, ,796 39,197 JOR CEMENT FACT JOCM 2008 Q1 60,444, ,018, ,254,755 10,939, % 24.5% (3.1%) 625,600, ,836 1,143,233 JORDAN DAIRY JODA 2008 Q1 4,000,000 9,196,745 7,130,022 1, % 0.1% % 7,760,000 >100 1,216 2,295 JOR INDSTR CHEM JOIC 2008 Q1 1,799,624 5,343,944 3,046, , % 13.0% % 5,326, N/A N/A JORDAN IND.RES. JOIR 2008 Q1 13,250,000 21,300,636 15,731,781 29, % 0.7% % 16,695,000 >100 5,664,754 6,664,498 JOR PAPER & CARD FACT JOPC 2008 Q1 7,500,000 20,225,234 10,553,443 23, % 0.9% % 18,900,000 >100 N/A N/A JOR PHOSPHATE MN JOPH 2008 Q1 75,000, ,074, ,264,741 8,710, % 17.6% % 4,762,500,000 >100 1,958, ,002,664 JOR PIPES MANFACT JOPI 2008 Q1 3,575,000 9,911,620 7,481, , % 10.8% % 8,294, ,244 1,938,091 JOR PETROLM REF JOPT 2008 Q1 32,000, ,617,362 64,792,001 1,244, % 7.8% % 480,000, ,626,713 37,738,584 JOSECO JOSE 2008 N/A 5,000,000 N/A N/A N/A N/A N/A N/A % 7,050,000 N/A 1,711,452 2,284,147 JOR SELPHO CHEM JOSL 2007 Q4 4,000,000 9,015,350 4,484,698 (77,942) (0.019) (1.0%) (2.1%) % 28,680,000 Negative 121, ,450 JOR STEEL JOST 2008 Q1 23,075,000 97,494,959 52,856,953 5,714, % 43.2% (5.0%) 179,754, ,189,815 25,513,754 JORDAN TANNING JOTN 2007 Q4 1,500,000 2,429,888 1,957,282 (442,601) (0.295) (16.7%) (20.4%) % 3,420,000 Negative JOR ROCK WOOLID JOWL 2007 Q4 3,000,000 2,554,693 1,966,212 (733,605) (0.245) (27.1%) (33.0%) % 3,210,000 Negative 23,212 24,993 JOR WORSTED MILL JOWM 2008 H1 12,500, ,892, ,294,002 3,645, % 7.2% % 82,875, ,386 35,203 JORDAN PHARMA JPHM 2007 Q4 20,000,000 54,531,097 34,266,490 1,648, % 4.9% % 35,200, ,728 20,563 JORDAN POUL PROC JPPC 2007 Q4 14,888,874 20,580,042 4,837,391 (2,998,106) (0.201) (15.8%) (50.6%) % 7,891,103 Negative N/A N/A

10 JOR VEG OIL IND JVOI 2007 Q4 3,000,000 15,973,690 5,196, , % 6.8% % 8,700, ,168 5,864 ENJAZ LIPO 2007 Q4 3,335,942 3,426,083 3,286,540 (68,113) (0.020) (3.2%) (3.6%) % 7,272,354 Negative N/A N/A ARAB PESTICIDES MBED 2007 Q4 9,000,000 17,288,036 11,830,924 1,212, % 10.5% % 20,520, ,957,693 4,128,642 MID EAST COMPLEX MECE 2008 Q1 100,000, ,107, ,049,385 2,185, % 5.4% % 310,000, ,639 2,225,027 MID PHARMA IND MPHA 2008 Q1 9,869,583 22,519,111 12,458,232 (404,630) (0.041) (7.1%) (12.8%) (9.4%) 27,733,528 Negative 1,145 3,333 NATIONAL STEEL NAST 2008 H1 4,000,000 12,879,587 6,108, , % 26.5% % 10,600, ,848 1,612,327 NAT`L ALUM IND NATA 2008 Q1 9,000,000 19,867,487 12,978, , % 13.3% % 13,770, ,825 25,937 NAT CHLORINE NATC 2008 Q1 9,000,000 12,221,481 11,105, , % 8.8% % 11,430, ,145 18,233 NAT`L POULTRY NATP 2007 Q4 30,000,000 73,013,124 53,050,192 6,374, % 12.8% % 63,300, ,965 6,242 NUTRI DAR NDAR 2008 Q1 10,000,000 18,038,981 10,705, , % 6.6% % 16,900, , ,087 PEARL SAN P CONV PERL 2008 Q1 2,500,000 3,996,665 3,346,883 41, % 5.0% % 7,250, ,394 READY MIX CONCRT RMCC 2008 H1 25,000,000 43,118,999 29,949,233 1,433, % 12.3% (1.9%) 63,750, ,727 35,214 SILICA INDUSTR. SLCA 2007 Q4 2,366,815 2,489,416 2,388, , % 5.4% % 11,124, N/A N/A TRAVCO TRAV 2008 H1 4,600,000 6,567,999 5,810, , % 25.6% % 5,750, ,610 78,000 UNION ADV INDST UADI 2008 H1 3,000,000 11,865,618 6,726, , % 24.3% % 9,360, N/A N/A UNITED CABLE IND UCIC 2008 H1 40,000,000 41,913,320 41,356,809 1,356, % 6.6% % 53,200, , ,816 AL-QARIA UCVO 2008 Q1 4,500,000 14,021,148 4,700, , % 20.6% (0.6%) 14,220, ,656 58,350 UNIV MOD INDCO UMIC 2008 Q1 6,000,000 11,544,863 8,891, , % 18.1% % 10,380, ,473,852 2,692,012 UNIV CHEM IND UNIC 2008 H1 1,500,000 3,168,914 2,769,617 (73,678) (0.049) (4.6%) (5.2%) % 3,405,000 Negative UNION TOBACCO UTOB 2008 Q1 15,000,000 63,676,212 34,796, , % 2.6% (9.4%) 43,500, , ,104 NAT/CABL/WIRE/MF WIRE 2008 Q1 12,500,000 18,839,081 18,839, , % 7.6% (0.6%) 21,250, ,190 93,615 JOR WOOD INDUSTR WOOD 2007 Q4 4,500,000 10,922,453 6,982,192 1,888, % 29.1% % 25,650, N/A N/A WOOLEN INDUSTRIES WOOL 2007 Q4 1,200,000 1,301, ,498 (401,423) (0.335) (27.3%) (40.1%) % 1,368,000 Negative N/A N/A Industrial Sector Total 1,013,042,581 3,952,296,147 2,055,313, % 9.6% 14,536,518, ,250, ,284,554 Market Total 5,784,967,162 51,373,942,052 11,828,280, ,559, % 14.1% 40,562,231, ,546, ,559,361 Earnings per Share () indicated above represents the basic. The Arab Bank represents the Arab Bank Group. Return on Average Assets () and Return on Average () are based on annualised earnings. Where no financials have been issued by the Company for either two consecutive fiscal years, the figures indicated represent the Return on Assets (ROA) and Return on (ROE). is based on last closing price and annualised earnings per share. The Arab Bank is based on the Arab Bank Group financials. Negative and s greater than 100 have been excluded from the calculation of the sector. N/A - Information not Available/Applicable

11 Research Department Tanya Khammash Head of Research Department Zein Alkhas Research Analyst Brokerage Tel (ext. 301) Disclaimer This document has been issued by ABC Investments for informational purposes only. The information contained herein is based on sources we believe to be reliable, but its accuracy is not guaranteed and such information may be incomplete or condensed. This document is not, and should not, be construed as an offer or the solicitation of an offer to buy or sell any security. ABC Investments accepts no liability for any loss or damage of any kind arising from the use of all or any part of this document. ABC Investments has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein changes or subsequently becomes inaccurate. This document may not be reproduced or circulated without the written consent of ABC Investments.