UNITED MIZRAHI BANK (Switzerland) Ltd

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Year	Equity	Capital	Reserves	Balance
2002	20,590	20,000	590	116,898
2003	20,750	20,000	750	109,814
2004	20,900	20,000	900	127,872
2005	21,055	20,000	1,055	175,591
2006	21,160	20,000	1,160	155,240