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Press release by the PSE:QUDS's disclosure of preliminary financials of 2007.

2008-02-10

Palestine securities exchange received the preliminary revised financial statements from the internal auditors of Al Quds bank of development & investment, as of December 31, 2007. This disclosure came within the applied disclosures system, which grants every listed company a month and a half as utmost period for disclosing the preliminary financial results of 2007.It is revealed by the in formations presented by the QUDS  that, it had been disclosed using the electronic reporting standard, and a signed paper copy of the internal audited preliminary financials was sent to be verified from the board of directors parallel with another copy that had been sent to the CMA and PSE. Also the annual report of the QUDS will be published after the auditing in March, and the general assembly will be held in April. This preliminary financials were published on the PSE website as soon as it released by the QUDS. QUDS"s financial results pointed out to gross income of $1,270,615 to the year 2007 versus a loss $2,198,141 in 2006. Total assets amounted $ 253,455,241 in 2007 after amounting $ 148,190,194 in the year 2006. It is also noticed that the total liabilities had soared to amount $ 205,304,615 versus $ 100,557,196 in the same period of 2006. Shareholders" equity raised in 2007 to $ 48,150,626 after it had amounted $ 47,632,998 in 2006.