STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997
(Currency: Jordanian Dinar)

			1998	1997
Cash Flows from Operating Activities:
	Net profit for the year		8,573,271	10,121,974
Adjustments to reconcile net profit to net cash flows from operating activities
Non Cash Items:
	Depreciation and amortization		3,910,473	1,943,723
	Provision for doubtful accounts		776,809	3,738,484
	Provision for obsolete and slow moving materials		254,718	148,682
	Provision for end of service benefit		483,506	316,188
Change in Working Capital:
	Increase in accounts receivable		(263,752)	(18,454,006)
	Increase in other current assets		(1,681,810)	(2,557,652)
	(Decrease) increase in notes payable		(3,383,980)	7,963,977
	Increase in accounts payable		5,155,513	12,552,884
	Increase in other current liabilities		1,730,270	1,236,914
		Net cash flows from operating activities	15,555,018	17,011,168
Cash Flows from Investing Activities:
	Investment in affiliated company			(87,500)
	Decrease in materials in stores		(2,484,745)	(3,861,384)
	Projects in progress		(6,663,028)	(9,037,626)
	Purchases of property, plant and equipment		(34,318,281)	(10,944,079)
	License, concession and lines cost		(3,550,000)	(17,201,700)
	Establishment and preoperating expenses			(98,263)
		Net cash used in investing activities	(47,016,054)	(41,230,552)
Cash Flows from Financing Activities:
	Paid in share capital		11,570,695	7,052,129
	Proceeds from long term loans		14,881,118	--
	Increase in due to banks		5,504,771	1,697,437
		Net cash flows from financing activities	31,956,584	8,749,566
Net increase (decrease) in cash			495,548	(15,469,818)
Cash, beginning of year			9,851,339	25,321,157
Cash, end of year			10,346,887	9,851,339

The accompanying notes form an integral part of these financial statements.

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