2012 by mamapeirong

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									July 29th, 2012
FOR IMMEDIATE RELEASE

                     Palestine Exchange: Received Disclosed Interim
 Financial Statements of Palestine Mortgage & Housing Corporation Co. for the First
                                         Half of 2012


        The Palestine Exchange (PEX) received the reviewed interim consolidated condensed
financial statements from Palestine Mortgage & Housing Corporation Company (PMHC).
PEX disclosure rules give all PEX listed companies 45 days to report their first half interim
financial statements as reviewed by their independent external auditor. In addition to this press
release, this disclosure was published on the PEX website (www.pex.ps) and emailed to PEX
member securities firms.
        PMHC is the third listed company to disclose its interim financial statements for the
first half of 2012.
        The disclosed information includes: an Independent Accountants' Review Report, the
Statement of Financial Position, the Income Statement, the Statement of Comprehensive Income,
Changes in Equity Ownership, the Statement of Cash Flows and Notes to the interim financial
statements (9 notes). The company also provided its interim financial statements via the
approved electronic form of disclosure applicable to the Banking & Financial Services Sector.
The interim report also should include information required by Article (38/2) of the PEX
disclosure rules in place. The company included information regarding management, issued
shares, material changes and significant events that may have affected financial performances
during the first half of the year.
        According to company data for the first six months of the year, net profit before taxes
reached 258,624 USD, compared with a net profit before taxes of 113,001 USD from the
first six months of 2011, a net increase of 128.9%. Total assets of the company reached
37,270,351 USD as of June 30th, 2012, compared to total assets of 37,125,997 USD as of
December 31st, 2011, a net increase of 0.4%. Total liabilities of the company reached
16,049,600 USD as of June 30th, 2012, compared to total liabilities of 16,119,882 USD as of
December 31st, 2011, a net decrease of 0.4%. Net ownership equity of the company reached
21,220,751 USD as of June 30th, 2012, compared with a net ownership equity of 21,006,115
USD as of December 31st, 2011, a net increase of 1.0% in the last six months.
        Within the conclusion in the Independent Auditors’ Review Report (Ernst & Young), the
following opinion was conveyed: Based on our review, nothing has come to our attention that
causes us to believe that the accompanying interim consolidated condensed financial statements
are not prepared, in all material respects, in accordance with International Accounting Standard
No. (34) .

								
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