On December 14 and 15, 2004 the FEAS Working Committee and Twelfth Executive Committee Meetings were held. In attendance were members from Abu Dhabi Stock Exchange, Amman Stock Exchange, Banja Luka Stock Exchange, Belgrade Stock Exchange, Bucharest Stock Exchange, Bulgarian Stock Exchange, Cairo & Alexandria Stock Exchanges, Istanbul Stock Exchange, Karachi Stock Exchange, Macedonia Stock Exchange, Muscat Securities Market, Sarajevo Stock exchange, Tehran Stock Exchange and Zagreb Stock Exchange. At the Working Committee Meeting, Amman Stock Exchange was elected as the new Chair of the Working Committee. Further, task force progress on the FEAS Composite Index, Market Principles, Semi Annual Report and Media and Technology Conferences were discussed. At the Executive Committee meeting, Abu Dhabi Stock Exchange was added as a new member of the Working Committee and based on the recommendation of the Working Committee a new taskforce was formed to work on Corporate Governance. In addition, 6 new affiliate members were decided on to be proposed to FEAS affiliate members.