JEDDAH, 21 September 2005 — The Saudi stock market showed no major movement yesterday as the Tadawul All Share Index (TASI) registered a minor gain of 8.4 points to close at 15,009.84.

The index closed over 15,000 points Monday, which was an all-time high. The Industrial index hardly moved yesterday as it closed at 40,194.10, down 13.51 points. Only the Cement index gained 115.18 points to close at 8,830.28 while the Banking, Services and Electricity indices showed slight increases.

Shares of the National Company for Glass Industries rose 9.99 percent at SR602.75, followed by Saudi Industrial Services Co. (SISCO) by 9.10 percent at SR269.75, National Agriculture Marketing Co. by 8.28 percent at SR258.25, Jarir Marketing Co. by 7.94 percent at SR1,111.75 and Saudi Ceramic Co. by 7.44 percent at SR664. Shares of Bank AlJazira and Saudi Investment Bank closed 3 and 1.46 percent higher at SR927 and SR905, respectively.

Saudi Telecom C. (STC) shares were slightly higher at SR942, while Etihad Etisalat shares fell to SR633. However, shares of Saudi Advanced Industries Co. declined by 3.73 percent at 722, followed by Saudi Arabia Fertilizers Co. by 2.21 percent at SR1,018.

Meanwhile, according to the information received here yesterday, Emirates Bank of the United Arab Emirates announced on Monday that it will be demonstrating its new Emirates International Brokerage’s (EIB) online trading service at Gitex 2005, soon to be made available to clients across the region. The Emirates International Brokerage service represents the next generation of stock market e-commerce, and will utilize state-of-the-art verification and authentication to integrate with the regional stock market systems and allow for real-time updates.

Emirates International Brokerage’s Internet-based stock trading system follows technology tried and tested at Saudi Arabia’s Tadawul. The new service is in the testing phase, with EIB undertaking detailed implementation discussions, and is expected to be available to the public in October 2005.

Speaking at a press conference in Dubai, Hamoud Abdulla Al Yasi, general manager, Emirates International Brokerage, said, “The online trading offering is designed for the convenience of investor and broker alike, with investors enjoying the facility of transacting online from office or home. Instantaneous verification and processing will eliminate latency, and allow for higher volumes of conducted transactions.”