Fuelled by expectations of the imminent opening of the hitherto closed doors of the ISX to non Iraqi investors, the market continued its upward surge for the eleventh trade session this month

ISX, Record money in Iraqi bourse, October 30 2007

In the small trade hall of the Iraqi Stock Exchange local brokers struck today, October 30, 2007, the single biggest transaction ever in the three year old history of the ISX. Some 3.125 billion shares of the Baghdad Bank exchanged hands in one single transaction struck at ID 2.8 to the share. The deal, representing 5.8% of the outstanding issue of the Baghdad Bank was worth ID8.751 billion or the equivalent of $7.11 million. Reports from the trade hall say that the deal was struck between the brokers of Baghdad Bank and those of independent Aman Financial Services.

In other trade there was some 274 contracts struck involving the shares of 29 listed companies. The total number of shares to change hand was equal to 513 million over and above the big deal in Baghdad Bank. Volume was equal to ID 668 million excluding the Baghdad deal.

Eight of the traded stocks registered a rise in closing price. The price of ten companies retreated and the remainder, 11, was steady. Total market capitalization value was steady at just under $1.5 billion.

	current session	previous session	%change
Market Volume Traded (shares million)	3,638.66	842.12	332.08
Market Value Traded (ID m)	9,419.51	1714.29	449.47
Market Capitalization (ID billon)	1,868.45	1869.85	-0.07
Number of Transaction	247	205	20.49
Market Value Traded ($m)	7.5356	1.37143	449.47
Market Capitalization ($billon)	1.495	1.50	-0.07

Meantime the ISX is pressing ahead with the introduction for the first time ever of electronic trading facilities and perhaps more significantly the establishment of an electronic depository facility which will replace the current system of paper certificates still in us in the ISX.

Reports coming out of the ISX speak of experimental trade starting early next November. This will involve test trading sessions involving ten of the 93 listed companies. Actual roll out of the electronic trading is expected next in few weeks time after making sure that all the complicated pieces fit together smoothly. Analysts point out the electronic trading will impact favorably on the growth and performance of the ISX.

DISCLAIMER: This document has been compiled and issued by Kubba Consultants, which has obtained the information from sources it believes to be reliable, but Kubba Consultants makes no guarantee as to either its accuracy or completeness and has not carried out an independent verification. Kubba Consultants accepts no responsibility or liability for losses or damages incurred as a result of opinions formed and decisions made based on information presented in this report. This document is not an offer to sell or solicitation to buy any securities. The opinions and estimates expressed herein are those of the issuer.