Maturity: 5 years

Number of bonds outstanding : 20 million bonds

Date of close of public subscription : 3 February 2005

Registration status : Bonds registered at Egyptian Stock Exchange (EGX) and Misr for Clearance, Settlement and Central Depository (MCSD)

Call Option/Prepayment : The Issuer has the right to partially or fully prepay any amount of the Issue provided that the partial prepayment is at least EGP 100 million (only one hundred million Egyptian pounds) or its multiples and that the prepayment date occurs on any of the Coupon Payment Dates.  The call option / prepayment possibility begins on the date of the coupon number (8) or the beginning of the third year. Prepayment will not entail the payment of any penalties or indemnifications to the bondholders.

Coupon payment dates : 1 March , 1 June , 1 September and 1 December.