Phoenician Corporation IV Limited Preliminary Results For The Year Ended 31 October 2010

REPORT OF THE DIRECTORS AND PRELIMINARY FINANCIAL RESULTS (UNAUDITED)
FOR THE YEAR ENDED 31 OCTOBER 2010

CHAIRMAN'S STATEMENT
 
Since admission to PLUS in March 2009, the Company has continued to search for appropriate acquisition(s) of either the whole or part of suitable Sharia compliant businesses (the "targets" or singularly, the "target"). The Directors believe that Sharia compliant businesses offer material opportunities for growth. The Company will not limit itself to the acquisition of Sharia compliant businesses where alternative positive opportunities present themselves, but will endeavour to seek out Sharia compliant businesses as its main focus.
 
The Company, where and when appropriate and permitted, will seek board representation on each target in which the Company is an investor. As such, the Company will be a pro-active investor and will seek, to the extent permitted by all applicable laws, to control and operate a target. Acquisition of targets is not intended to be financed solely through the proceeds gained from investors' subscriptions, but may, if appropriate, be financed through a further issuance of Class A Shares or through the issuance of Class B Shares.
 
It is still the intention of the Company to effect an acquisition or sign a letter of intent, agreement in principle or definitive agreement for an acquisition. The Directors have identified a number of potential targets and due diligence is currently being undertaken, although no potential targets have yet been brought to shareholders' attention.
 
The Company has taken strategic positions in companies which the Board considers to be of benefit to the Shareholders. The King Tech International investment made last year has not performed as well as had been expected by Directors. The Directors still believe that King Tech has great potential in light of the economic growth in China. To be conservative, in light of King tech's trading suspension on PLUS and the lack of available financial information, the Company has partially written down this investment. Essentially King Tech International Limited is an environmental technology company and its core business is the production and supply of asphalt rubber for paving roadways in China. King Tech International Limited aims to become a major force in advanced technology road paving in China where an estimated 40,000 kilometres are needed annually. Further information regarding King Tech International Limited can be found on PLUS website.
 
The Company's arrangement with Amara Holdings Inc whereby the Company has forwarded a returnable deposit to Amara Holdings Inc, for the sum of $1,050,000, which, at the option of the Company, can be used as consideration for the future allotment of shares has been extended to 1 October 2011 (this is a further extension from the 1 April 2011 deadline). Amara is in discussions regarding several exciting business opportunities and hence the directors feel that an extension of the deposit for a further 6 months gives it time to evaluate these opportunities.
 
Amara Holdings Inc is a Sharia compliant private investment company that offers investors the opportunity to invest in Sharia compliant businesses by searching for appropriate acquisitions, predominantly in China, as well as MENA and India. Amara Holdings Inc already has in place key strategic partnerships, including with Pan-China Construction Group, formerly a part of the Ministry of Construction and has strong ties to the Chinese government, to co-invest in Sino-foreign joint ventures.
 
The Company's investment in Phoenician Corporation V Limited is showing promise as their shares are suspended pending the completion of an exciting acquisition. Further information regarding Phoenician Corporation V Limited can be found on PLUS website.
 
As of October 31, 2010 there have been no significant changes in the operations of the company and we are diligently pursuing additional investment opportunities.
 
These preliminary financial results are unaudited and not reviewed by the Company's auditor.
 
We will announce the audited results as soon as possible.

Jason R. Futko 
Chairman
31 March 2011

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