Watch List notes:

PALESTINE: 5 Pounds (1.1.1944) in red and black. Crusader Tower at Ramleh at left on face. S/N: "D 696272". WMK: Olive sprig. Printed by TDLR. Inside holder by PMG "Very Fine 25 NET / Repaired". (Pick 8d) & (Spink PCB B3d).