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

2008-02-11

Palestine securities exchange received the preliminary revised financial statements from the internal auditors of Vegetable Oil Industries Company, 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 VOIC that, it had been disclosed using the electronic reporting standard, and a signed paper copy of the external 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 VOIC will be published in April, 2008. As for the general assembly meeting it will be held in May, 2008 to discuss these financial results. This preliminary financials were published on the PSE website as soon as it released by the VOIC. Also VOIC is considered the first listed company in services sector that disclosed its financials completely and according to the common basis. VOIC"s financial results pointed out to gross income of 88,704 JD to the year 2007 versus 69,961 JD in 2006. Total assets amounted 8,877,839 JD in 2007 after amounting 8,439,549 JD in the year 2006. It is also noticed that the total liabilities had soared to amount 5,232,011 JD versus 4,724,081 JD in the same period of 2006. Shareholders" equity dropped in 2007 to 3,645,828 JD after it had amounted 3,715,468 JD in 2006.