Dead Sea Works Ld - 1st Quarter Results

RNS No 3073x
DEAD SEA WORKS LIMITED
17 May 1999


DEAD SEA WORKS LTD ("the company")

Results for first quarter 1999

Following are the financial results of Dead Sea Works Ltd. to 31st March 1999
on a consolidated basis. 

The consolidated reports include primarily Dead Sea Magnesium Ltd., Iberpotash
S.A.,  and the company's share (50%) in Clearon Corp. This is the first report
in which Iberpotash is consolidated in the income statement.

The net income for this quarter was $13.3 million, compared to $9.4 million in
1998. The operating income of the company for the quarter was $24.4 million,
compared to $17.8 in 1998. 

On March 1, 1999 the Board of Directors approved the sale of the company's
shares in Clearon Ltd, to Eurobrom B.V., which is a daughter company of Dead
Sea Bromine Ltd., an associated company. The final sale is subject to the
approval of the shareholders' meetings of both companies.  
      
                               1-3/1999                1-3/1998
                              Consolidated          Consolidated  
                              $ millions             $ millions
 
Net turnover                   166.3                      114.1

Profit before tax               18.5                       13.2   

Tax on income                   (7.3)                      (5.7)

Net profit                      13.3                        9.4

Number of 
shares (millions)                 297                        286

EPS ($)                          0.04                       0.03              
      

Financial Statements for the period to March 31st 1999 will be posted to
shareholders.

END

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