The Board of Directors is pleased to present the 30th 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 31,2008.

Despite the emergence of fluctuations in the economic situation in the region and the world and its impact on tourism in general and in particular the hotel segment during the fourth quarter, Bahrain Tourism Company has achieved the highest results for the fourth consecutive year, which amounted to an increase of 21% evaluate to the previous year. The results of Crowne Plaza Bahrain which owned by Bahrain Tourism Company an increase in their sales by 18%.

The company continues to add a number of hotel facilities to keep pace with the requirements of businessmen guests and users of the hotel. The Board of Directors is currently considering a number of projects to be implemented in 2009, which will add additional facilities in the hotel facilities.

Net profit of the company in 2008 amounts to BD.4,233,475 as compared to BD.3,488,185 in 2007, an increase BD.745,290 (21%).
The equity of shareholders increased by 9% to BD.26,436,437.

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

BAHRAIN DINAR
Cash Dividend (20 percent)		1,321,319
Transfer to statutory reserve		423,348
Directors remuneration		64,000
Donations to charity		15,000
Retained earnings after appropriations		7,333,667

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 Deputy Supreme Commander of the Bahrain Defence Force, and to the Ministers of the Kingdom of Bahrain for their continuing support and encourageement.

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 Mohammed Yousif Fakhroo Chairman

21 February 2009