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					                                                                                                                                                     (A member of the Arab Bank Group)
                                                                                                                                         INVESTMENT MANAGEMENT GROUP
                                                                                                        Daily Market Report for Muscat Securities Market
                                                                                                                                                       December 1, 2005
                                                                                      Change                                                                                   Low                                                                  High                                               Main Indicators*
              Index Name                           Close                                                                                 Y-T-D %
                                                                   Points                                    %                                                                                                     52-Week                                                                 P/Ex                        P/Bx                    Div. %

Banks & Financial Services                       6,764.75            40.68                             0.60%                             49.64%                               4,403.29                                              8,283.72                                               11.79                        2.31                    2.78%

Industrial                                       3,819.19            -3.58                            -0.09%                             35.82%                               2,768.46                                              4,448.33                                               12.90                        2.47                    2.68%

Services                                         1,997.75              9.22                            0.46%                             31.39%                               1,478.07                                              2,093.42                                               8.22                         2.34                    6.09%

General Index                                   4,858.48           21.60                              0.45%                              43.95%                          3,302.36                                              5,699.32                                                    11.12                       2.34                    3.34%

Total Market                                                                                                                                                                                                                                                                               13.11                       2.57                    3.86%
                                                                                                                                                                                                                                                                           * Based on annualized figures of latest published financials & current market prices.



                                                                                                                                                         Market Activities

Volume OMR.                                    1,896,377                                  # of Traded Bonds                                                        0                                   # of Traded Companies                                                    44                                    Market Capitalization

# of Traded shares                             881,389                                    # of Transactions                                                        877                                 Advanced/Declined                                                        13 - 15                            OMR. 4.993 Billion

AL Khaleej Polypropylene:                                                      General Index                              50 per. Mov. Avg. (General Index)                                                                                                                      # of Traded Shares           General Index
Al Khaleej Polypropylene has                                                                                                                                                                                                                        2,800                                                                                          4,860
                                                           5,600
announced that the chairman, a
                                                           5,200                                                                                                                                                                                    2,400
board member and Bank Muscat's
representative on their board have                         4,800




                                                                                                                                                                                                                                                                                                                                                            General Index
submitted their resignation .                                                                                                                                                                                                                       2,000                                                                                          4,850
                                                           4,400




                                                                                                                                                                                                                               # of Traded Shares
Muscat Securities Market:                                  4,000                                                                                                                                                                                    1,600
On the occasion of the National Day,                       3,600
MSM announced a holiday on                                                                                                                                                                                                                          1,200                                                                                          4,840
December 04 2005. Trading will                             3,200
                                                                   12/1/2004

                                                                               1/1/2005

                                                                                          2/1/2005

                                                                                                       3/1/2005

                                                                                                                   4/1/2005

                                                                                                                              5/1/2005

                                                                                                                                          6/1/2005

                                                                                                                                                        7/1/2005

                                                                                                                                                                   8/1/2005

                                                                                                                                                                                9/1/2005

                                                                                                                                                                                           10/1/2005

                                                                                                                                                                                                       11/1/2005

resume on Monday December 05,                                                                                                                                                                                      12/1/2005                         800
2005.
                                                                                                                                                                                                                                                     400                                                                                           4,830
                                                                                                                                                                                                                                                              27- 11-05        28- 11-05        29- 11-05       30- 11-05         1- 12-05


                                                                                                                                                                   Top Gainers

                                                                                                                                                                                                                                                                                                  Change
Company name                                       Close        Change%                                  PE x                             PB x                     DIV. %                              Company Name                                                                Close           OMR.
                                                                                                                                                                                                                                                                                                                 PE x          PB x            DIV. %

ALLIANCE HOUSING BANK                              3.680           3.08%                                           18.77                               2.53             2.17%                          RENAISSANCE SERVICES                                                        5.910           0.120             9.57        2.06                 5.92%

AL JAZEIRA SERVICES                                2.880           2.86%                                              4.87                             1.75             3.47%                          ALLIANCE HOUSING BANK                                                       3.680           0.110           18.77         2.53                 2.17%

DHOFAR POWER                                       1.640           2.50%                                             12.22                             2.00                                            AL JAZEIRA SERVICES                                                         2.880           0.080             4.87        1.75                 3.47%

RENAISSANCE SERVICES                               5.910           2.07%                                              9.57                             2.06             5.92%                          NATIONAL BANK OF OMAN                                                       4.340           0.050           23.88         2.19

SALALAH MILLS                                      1.530           2.00%                                              8.01                             0.85             6.54%                          DHOFAR POWER                                                                1.640           0.040           12.22         2.00

                                                                                                                                                                   Top Losers

DHOFAR FISHERIES IND.                              0.180           -21.74%                                            -0.72                           -0.23                                            AL HASSAN ENGINEERING                                                       1.420          -0.070            17.75        1.81

OMAN CHEMICAL INDUSTRIES                           0.170           -5.56%                                             -0.96                            2.21                                            DHOFAR FISHERIES IND.                                                       0.180          -0.050            (0.72)      -0.23

AL HASSAN ENGINEERING                              1.420           -4.70%                                          17.75                               1.81                                            ORYX FUND 2004                                                              1.160          -0.040             1.93        0.83
ORYX FUND 2004                                     1.160           -3.33%                                                1.93                          0.83                                            TRANSGULF IND. INV. HOLDING                                                 1.940          -0.030          (12.17)        0.92                 7.73%
MAJAN JOINT INV. ACCOUNT                           1.020           -2.86%                                             2.13                             0.79                                            MAJAN JOINT INV. ACCOUNT                                                    1.020          -0.030             2.13        0.79

                                                                                                                                                                   Top Volume

                                                                                                      # of Traded Shares                                                                                                                                                                           Volume OMR.

OMAN TELECOMMUNICATION                             1.820                                                                                   546,095                                                     OMAN TELECOMMUNICATION                                                          1.820                   995,204

TAAGEER FINANCE                                    1.670                                                                                        48,063                                                 NATIONAL BANK OF OMAN                                                           4.340                   108,442

THE FINANCIAL CORPORATION                          1.920                                                                                        35,910                                                 RENAISSANCE SERVICES                                                            5.910                    82,387

AL HASSAN ENGINEERING                              1.420                                                                                        33,800                                                 TAAGEER FINANCE                                                                 1.670                    80,335

NATIONAL BANK OF OMAN                              4.340                                                                                        24,985                                                 THE FINANCIAL CORPORATION                                                       1.920                    69,019

                                    Funds                                                                    Net Assets Value (NAV) OMR.                                                                                                                    Close                                             Close to NAV %

MUSCAT INDEX FUND JIA                          31/10/2005                                                                                 1.499                                                                                                             1.380                                                    92.06%
Oryx Fund 2004                                 27/10/2005                                                                                 1.397                                                                                                             1.160                                                    83.04%
FIRST MAZOON FUND                              31/10/2005                                                                                 1.496                                                                                                             1.300                                                    86.90%
Majan Special Opportunities Fund
JIA                                            31/10/2005                                                                                 1.262                                                                                                             1.020                                                    80.82%
Al Amal Income & Growth Fund                   31/10/2005                                                                                 1.154                                                                                                             1.220                                                   105.72%
Vision Emerging GCC Fund                       24/11/2005                                                                                 1.142                                                                                                             1.110                                                    97.20%
                                                                 Maturity                            Par Value                                                     Outstanding                                                                                                   Volume
                           Bonds                                                                                                         Interest                                                                        # of Traded Bonds                                                                         Close       Yield to Maturity %
                                                                  Date                                 OMR.                                                           Bonds                                                                                                       OMR.

Bank Muscat Bonds                                               13/3/2006                               2.380                            10.00%                               16,647,300                                                                                   -                -                      2.510                 2.37%
Bank Muscat NG                                                  18/6/2013                               1.000                             7.00%                               25,000,000                                                                                   -                -                      1.020                 7.33%
Bank Muscat NG NEW                                              20/6/2014                               1.000                             6.25%                               29,802,860                                                                                   -                -                      0.980                 7.10%
Alliance Housing Bank Bonds                                     15/5/2011                               1.000                             5.55%                                6,000,000                                                                                   -               -                       1.000                 5.69%
Bank Dhofar Bonds                                                4/1/2008                               1.000                             7.00%                                7,362,000                                                                                   -               -                       1.060                 6.35%

PEx: last closing price / Earnings per share (times).       PBx: Last closing price / Book value of the share (times).                                                         Div. Yield%: Cash Div. / Last Close × 100                                            NA: Not Available or more than 100 PE


                                                                                                                               PO BOX 2010 Ruwi 112, Sultanate of Oman
                                                                                                                             Tel: +968 24 70 90 81 Fax: +968 24 79 39 53
                                                                                                                  Web Site: http://www.oabinvest.com Email: research@oabinvest.com
                                                                                   (A member of the Arab Bank Group)
                                                             INVESTMENT MANAGEMENT GROUP - RESEARCH DEPARTMENT
                                                                     Daily Bulletin for Muscat Securities Market
                                                                                        Thu 1 Dec 2005
 52 wk                                                                              Traded                                                                    Closing                                Last
             52 wk low                  Company Name              Last Closing                     Value Traded          Exec.        H Price       L Price                 DIFF.        Last Bid
  high                                                                              Shares                                                                     Price                                 Offer
                                                                                           Regular Market
   2.76          1.55      GULF INVESTMENT SER.                       1.95                 11,777              22,937         30         1.97         1.92      1.95              ---      1.92       1.96
   3.60          1.40      GLOBAL FINANCIAL INVESTMENT                3.29                      12                  40         1         3.30         3.30      3.29              ---       ---       3.25
   2.95          2.15      OMAN HOLDING INTERNATIONAL                 2.72                     693              1,871          3         2.70         2.70      2.70            - 0.02     2.70       2.80
   9.20          4.05      ONIC. HOLDING                              7.19                     219              1,577          2         7.20         7.19      7.19              ---      7.15       7.19
   3.70          2.23      UNITED FINANCE                             2.42                  3,464               8,383          1         2.42         2.42      2.42              ---       ---       2.45
   5.35          3.40      BANK DHOFAR                                4.20                 15,000              62,760          4         4.20         4.18      4.18            - 0.02     4.01       4.18
   4.15          2.84      ALLIANCE HOUSING BANK                      3.57                 12,041              44,329         12         3.70         3.63      3.68            +0.11      3.70       3.75
   5.50          3.28      OMAN INTERNATIONAL BANK                    4.23                  9,580              40,695         14         4.27         4.22      4.25            +0.02      4.23       4.25
  12.16          6.15      BANK MUSCAT                                9.07                  5,010              45,594          8         9.11         9.10      9.10            +0.03      9.10       9.20
   2.00          1.08      THE FIRST MAZOON FUND                      1.30                      96                 125         2         1.30         1.30      1.30              ---      1.30       1.35
   4.25          1.60      TRANSGULF IND. INV. HOLDING                1.97                 10,025              19,427         18         1.95         1.92      1.94            - 0.03     1.92       1.95
   6.84          2.87      OMAN & EMIRATES INV. (OM)                  4.80                  8,847              42,347         13         4.80         4.75      4.79            - 0.01     4.77       4.80
   7.85          4.50      OMAN CEMENT                                6.70                     100                 670         1         6.70         6.70      6.70              ---      6.55       6.70
   3.85          2.40      AL KHALEEJ POLYPROPYLENE                   2.94                  2,400               7,081          4         2.96         2.95      2.95            +0.01      2.90       3.00
   1.75          1.40      OMAN FLOUR MILLS                           1.42                     200                 284         1         1.42         1.42      1.42              ---      1.43       1.46
  10.10          4.55      RAYSUT CEMENT                              8.82                  4,818              42,398          8         8.80         8.80      8.80            - 0.02     8.75       8.80
   3.03          1.53      OMAN CHLORINE                              2.41                  1,270               3,097          6         2.44         2.42      2.44            +0.03      2.42       2.44
   2.45          1.50      SALALAH MILLS                              1.50                  1,038               1,588          2         1.53         1.52      1.53            +0.03      1.52       1.60
   1.56          1.11      OMAN FISHERIES                             1.12                  5,400               6,151          9         1.14         1.13      1.14            +0.02      1.14       1.15
   3.65          2.30      AL JAZEIRA SERVICES                        2.80                  1,009               2,906          3         2.90         2.88      2.88            +0.08      2.88       2.90
   2.80          1.72      OMAN TELECOMMUNICATION                     1.80                546,095             995,204        408         1.83         1.81      1.82            +0.02      1.81       1.82
   6.55          4.00      Al MAHA PETROLEUM PRODUCTS MARKETING       6.46                  2,302              14,833         13         6.45         6.40      6.44            - 0.02     6.40       6.44
   7.47          5.65      RENAISSANCE SERVICES                       5.79                 13,944              82,387         22         5.95         5.85      5.91            +0.12      5.96       6.00
   2.49          1.76      AES BARKA                                  2.37                 23,799              56,248         40         2.37         2.35      2.36            - 0.01     2.35       2.36
   1.90          1.56      DHOFAR POWER                               1.60                  2,713               4,446         23         1.66         1.62      1.64            +0.04      1.65       1.67
  15.08          5.04      MAJAN COLLEGE                              6.83                     310              2,123          3         6.85         6.83      6.83              ---      6.80       6.83
   8.10          5.10      PORT SER. CORPORATION                      5.15                  3,500              18,025          3         5.15         5.15      5.15              ---      5.10       5.20
                                          ... Totals ...                                  685,662           1,527,523        654
                                                                                            Parallel Market
   1.77          1.50      TAAGEER FINANCE                            1.66                 48,063              80,335         67         1.68         1.65      1.67            +0.01      1.66       1.67
   2.51          1.17      AL BATINAH DEV. & INV. HOLDING             1.19                     200                 238         1         1.19         1.19      1.19              ---      1.19        ---
   5.00          2.37      NATIONAL BANK OF OMAN                      4.29                 24,985             108,442         21         4.36         4.30      4.34            +0.05      4.35       4.36
   2.15          1.05      THE FINANCIAL CORPORATION                  1.93                 35,910              69,019         48         1.95         1.90      1.92            - 0.01     1.90       1.91
   1.26          0.79      MAJAN JOINT INV. ACCOUNT                   1.05                     700                 714         2         1.02         1.02      1.02            - 0.03      ---       1.07
   1.43          0.81      ORYX FUND 2004                             1.20                  1,727               1,996          4         1.16         1.15      1.16            - 0.04     1.16       1.21
   1.85          0.97      AL HASSAN ENGINEERING                      1.49                 33,800              48,113         21         1.45         1.42      1.42            - 0.07     1.43       1.45
   4.60          0.25      MAJAN GLASS                                3.30                      52                 172         3         3.30         3.30      3.30              ---      3.20        ---
   0.94          0.70      CONSTRUCTION MATERIALS IND.                0.85                     350                 270         1         0.77         0.77      0.85              ---      0.77       0.80
   1.56          1.10      OMAN TEXTILE MILLS HOLDING                 1.28                  8,000               9,995         12         1.25         1.24      1.25            - 0.03     1.25       1.26
   1.52          1.01      OMAN AVIATION SERVICES                     1.17                     500                 577         2         1.16         1.15      1.15            - 0.02     1.16       1.17
   5.65          3.80      DHOFAR INSURANCE                           5.20                  8,300              43,122         12         5.20         5.15      5.20              ---      5.20       5.70
                                           ... Totals ...                                 162,587             362,993        194
                                                                                              Third Market
   0.40          0.16      OMAN CHEMICAL INDUSTRIES                   0.18                 21,567               3,580            15      0.19         0.16      0.17            - 0.01     0.17       0.18
   0.88          0.20      NATIONAL RICE                              0.20                      23                   5            1      0.20         0.20      0.20              ---       ---       0.24
   0.46          0.26      OMAN CERAMIC CO.                           0.36                  1,000                  360            1      0.36         0.36      0.36              ---      0.35       0.36
   0.40          0.25      ABRASIVES MANUFACTURING                    0.33                     450                 122            1      0.27         0.27      0.33              ---      0.27       0.29
   0.40          0.10      DHOFAR FISHERIES IND.                      0.23                 10,100               1,795            11      0.19         0.17      0.18            - 0.05     0.18       0.20
                                         ... Totals ...                                    33,140               5,861            29

                                        Totals                           Tot. Traded Shrs.               Tot. Bonds Traded               Tot. Value Traded        Total Exec.               Total Comps.
                                                                              881,389                            0                            1,896,377               877                         44
52 wk high     52 wk low                     Sector Name                                Index                                         Prev. Index                    DIFF.                    Change
 8283.72        4403.29    Banks and Investment Sector                                 6764.75                                         6724.07                      +40.68                     0.60%
 4448.33        2768.46    Industry Sector                                             3819.19                                         3822.77                       -3.58                     0.09%
 2093.42        1478.07    Services and Insurance Sector                               1997.75                                         1988.53                       +9.22                     0.46%
 5699.32        3302.36    General Index                                               4858.48                                         4836.88                      +21.60                     0.45%




          Lo'ai Bataineh – DGM, Investments, Head of Investment Management Group
          Tel : +968 24709081 / +968 24797420 / +968 24790462
          Asset Management                                                       Manish Mahyavanshi -Investment Officer
                                                                                 Hussni Mohammed AbdulMajeed – Investment Officer
          Research                                                               Arafat Asad - Senior Investment Analyst – Head of Research
                                                                                 Sameena Nagarwala - Investment Analyst
                                                                                 Manal Haider Al Hooti- Research Assistant
          Corporate Finance                                                      Shadi Adnan Al Haddad – Corporate Finance Officer
          Brokerage                                                              Faiz Abdullah Al-Belushi- Broker
                                                                                 Hussain Ahmed Al Lawati – Broker
                                                                                 Mohammed Hafeedh Barakat – Broker
                                                                                 Thuraya Ahmed Suwaidan AL Belushi - Broker
                                                                                 Ahmed Marhoon AL Farsi – Broker
          Operations                                                             Osama Qinna – Head of Investment Operations,
                                                                                 Yasmin Abdullah Shaban- Operation Officer
                                                                                 Aiman Hassan Al Balushi-Operation Officer
          Administration                                                         Qamaria Al Touqi – Office Administrator
          Client Service                                                         Nahrain Suliman Al-Kharusi - Relationship officer


      This report has been prepared and issued by the IMG- Oman Arab Bank SAOC on the basis of publicly available information, internal data, and other sources considered
      reliable. While the utmost care has been taken to ensure that the facts stated are accurate and the opinions given are reasonable, neither Oman Arab Bank SAOC nor any
      of its employees shall be in any way responsible for the contents. This report is not to be construed as an offer to buy or sell the securities referred to in the report.


                                                                          PO Box 2010 Ruwi 112 Muscat, Sultamate of Oman
                                                                              Tel: +968 24 70 90 81 Fax: +968 24 79 39 53
                                                                      http://www.oabinvest.com Email: research@oabinvest.com

				
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