National Aluminium Products Company (NAPCO)

Recommendations

Date	Research Firm	Action	From	To
07/07/08	Global Investment House			Underperform
05/11/07	BankMuscat			Underperform

	2007	2008	2009
Underperform	1	1	0

Kuwait Pipe Industries and Oil Services Company	Maintain
Kuwait Pipe Industries and Oil Services Company	Maintain
Kuwait Pipe Industries and Oil Services Company	Maintain
Oman Cables Industry (OCI)	Maintain
Abu Dhabi Ship Building (ADSP)	Maintain

United Securities - Market Overview Oman - United Securities - 05 January 2009
Rasmala - Daily Market Review Oman - Rasmala - 18 November 2008
Rasmala - Daily Market Review Oman - Rasmala - 30 October 2008
Oman: Targeting Aluminium Oman - Oxford Business Group - 22 April 2008
National Aluminium plans expansion Oman - BankMuscat - 17 April 2008
Al Anwar divests 31pc stake in NAPCO Oman - BankMuscat - 27 February 2008
Al Madina - NAPCO: Topline on the rise; Expansion plans forge Oman - Al Madina - 30 January 2008
GCG - GCC Industry Report: Manufacturing the Future... Bahrain - Gulf Capital Group - 21 January 2008
GCG - GCC Industry Report: Manufacturing the Future... Saudi Arabia - Gulf Capital Group - 21 January 2008
GCG - GCC Industry Report: Manufacturing the Future... Kuwait - Gulf Capital Group - 21 January 2008