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

2008-02-12
Palestine securities exchange received the preliminary revised financial statements from the internal auditors of Union Construction and Investment 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 UCI 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 UCI will be published before one week of the general assembly meeting that is suggested to be held in March, 2008 to discuss these financial results. This preliminary financials were published on the PSE website as soon as it released by the UCI. UCI"s financial results pointed out to gross income of $ 835,193 to the year 2007 versus $ 464,614 in 2006. Total assets amounted $ 41,630,201 in 2007 after amounting $ 30,575,591 in the year 2006. It is also noticed that the total liabilities had soared to amount $ 450,701 versus $ 142,984 in the same period of 2006. Shareholders" equity increased in 2007 to $ 41,179,500 after it had amounted $ 30,432,607 in 2006.