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Sunday, November 22 - 2009

Jordinvest's First Trust Fund achieves 132.67% returns since its inception

In a step which highlights the continued success of its First Trust Fund in the face of the current global financial crisis, Jordan Investment Trust PLC (Jordinvest), one of the leading providers of comprehensive financial and investment services in the domestic and regional markets, announced that its Fund's investment unit achieved a Net Asset Value of JD112.337 by the mid of March 2009.

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This constitutes an increase of 0.06% when compared to the Net Asset Value achieved at the end of 2008, which is noteworthy when contrasted to the performance decline of major Arab stock market indices that averaged at 10.72% during the same period, and when compared to Morgan Stanley Capital International's Arab stock market index decline since the beginning of the year, estimated at 17.55%. The Fund's returns have reached 132.67% since its inception, which is a formidable accomplishment when considering the economic challenges facing the world today.

Mr. Ahmad Tantash, Jordinvest Chairman and CEO, commented:
"We are very pleased with the results of our First Trust Fund; its continued positive performance reflects the great professionalism and expertise of Jordinvest's team, whose efforts have helped mitigate the repercussions of systemic risk in Arab financial markets resulting from the global economic crisis."


He added, "As always, we are closely following the developments of the global economic crisis, and are taking all precautions possible to ensure the continued stability and growth of our strategic investments and investors' returns. We look forward in 2009 to rendering future investments adaptable to prevalent and forecasted economic and financial market developments in the Mena region."

The first joint investment fund to be established in the Kingdom since 2000, one of the Fund's key objectives is to contain the risks involving major financial markets by diversifying its investments and distributing them across reliable markets. The Fund provides the opportunity to invest in domestic and regional Arab financial markets wherein the greater part of the Fund's assets are invested in stocks and bonds issued by governments, public institutions and public joint-stock companies. It also enables investment in unlisted securities as long as the percentage does not exceed 10% of the Fund's total assets.
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