Tejoori Limited announces pre-tax profits of USD 7.40 million for 1 July-31 December, 2006

The company, which listed on AIM in March, 2006, had a net asset value on 31 December, 2006 of USD 44.50 million, representing USD 1.61 per share.

The news came as Tejoori, hailed as the world's first truly independent, international and ethical Sharia-compliant investment company, announced two new senior appointments.

Yaqub Yousuf joins Tejoori as Non-Executive Director. Yousuf, who acted as advisor to Tejoori since its inception, has now been appointed by the Board to act as Chairman of the Executive Committee to oversee the company's operations.

With the share price on 23 March, 2007 at USD 1.315, Mr Yousuf said he feels the company is significantly undervalued.

"This is an exciting time to join Tejoori," he said. "We believe these latest financial results prove the company's share price is undervalued, and we expect it to increase significantly as we announce substantial pipeline deals in the near future and enhance existing developments."

Meanwhile, Ilke Toklu joins Tejoori as General Manager from International Holdings Group, where she was director of business development.

Mrs Toklu brings a multidisciplinary, international approach to board-level decision making, having had broad exposure to management consultancy, business development and board direction in North America, Asia Pacific and the Middle East at companies such as Citibank, Dubai Holding and Prudential Securities.

"Tejoori has already invested in some exciting and highly promising ventures, and I look forward to helping guide the company as we look to further balance our investment portfolio and sharpen its focus," she said.

In January, 2007, Tejoori acquired 16.7% of BEKON, a German renewable energy company, for EUR 6 Million. BEKON specialises in designing, building and operating waste fermentation biogas plants.

Tejoori has also committed EUR 2 million for an 85% stake in a joint venture which is in the process of developing a new inflation technology for automobile airbags. The project is scheduled to produce a physical prototype by mid-2007.

Commenting on the financial results, Sheikh Fawaz Bashraheel, Chairman of Tejoori, said: "We are pleased with this set of interim financial results and believe that they confirm the potential we outlined in our last financial report.

"These investments, and other concluded transactions such as Omniyat, where Tejoori acquired a 25% stake in Omniyat Properties Development Eleven, have led us to a profitable position for the first time since our formation."