2ND QTR JUN 2009
ROYAL EXCHANGE PLC, 2ND QUARTER ENDED JUNE 30, 2009

FORECAST PROFIT AND LOSS ACCOUNT INFORMATION

GROSS PREMIUM 09 N1.362b

PROFIT BEFORE TAXATION 09 N56.279m

FORECAST TAXATION 09 (N4.017m)

PROFIT AFTER TAXATION 09 N52.262m






ROYALEX closed unchanged at 2.170. Volume was 65% below average (consolidating) and Bollinger Bands were 406% wider than normal.



Open High Low Close Volume___

2.170 2.070 2.070 2.170 41,069



Technical Outlook

Short Term: Neutral

Intermediate Term: Bearish

Long Term: Bearish



Price Trend Report:

5 Moving Average: Current price is below 5-period moving average: 2.20

21 Moving Average: Current price is below 21-period moving average: 2.52

LSQ Analysis: Current price is -51% below its price trend.

Bollinger Band Analysis: Price Volatility: Decreasing (Sharp move); Price Trend: Down.

Hurst Trend Analysis: Hurst Exponent: 1.0000, current trend will continue



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Technical Indicators Report: Value Tips

RSI 0.0 Strong Buy.

MACD 0.0

MTM -9.2

ADX 66.7 Market is in trend mode.

CCI -15.6

DMI 66.2; 6.2

K%D 17.5; 10.6 Buy Opportunity.

NVI 7.1

OBV 17657.2

PVI 0.6