The Board of Directors is pleased to present the 29th annual report of BAHRAIN TOURISM COMPANY since the incorporation of the Company, reviewing the activities and the results of the Company for the financial year ended December 31, 2007.

For the Third Year, the result of the Company for year 2007 again shows the highest since incorporation of the Company in 1974. Net profit of the Company increased by 41% compared to previous year and by 87% compared to the result of 2005.

During the year, some facilities have been added to Crowne Plaza Bahrain Hotel which is owned by the Company, in addition to renovations carried on. Also, the initial requirement to built multi storey Car Park building started, and is expected to be completed within two years. In addition to that, the Company is in the process of studying several projects which will enhance Company's revenue.

Net profit of the Company for the year amounts to BD3,488,185 as compared to BD2,482,290 in 2006. The aggregate of net profit and retained earnings carried over from 2006 BD3,192,792 represents the total profit available for distribution amounting to BD6,680,977.

The Board of Directors is pleased to propose for the approval of shareholders, the following appropriations.

BAHRAIN DINAR
Cash Dividend (20 percent)		1,329,300
Transfer to statutory reserve		348,818
Directors remuneration		64,000
Donations to charity		15,000
Retained earnings after appropriations		4,923,859

The Board of Directors would like to express its deep gratitude and sincere appreciation to His Majesty King Hamad Bin Isa Al Khalifa, King of the Kingdom of Bahrain, to HH Shaikh Khalifa Bin Salman Al Khalifa, the Prime Minister and to HH Shaikh Salman Bin Hamad Al Khalifa, the Crown Prince and Commander-in-Chief of the Bahrain Defence Force, and to the Ministers of the Kingdom of Bahrain for their continuing support and encouragement.

We also wish to reiterate our gratitude and appreciation to our respected clients for their support and finally, we are pleased to convey our appreciation and thanks to the Company's Chief Executive Officer and all employees for their sincere efforts towards developing the business of the Company.

Qassim Mohamed Fakhroo
Chairman