Obtaining the approval of the Central Bank before entering into any bank subscription process

Cairo, 24 September 2014

Dear Chairman of the Board,

Greetings,

I would like to point out that in the context of the Central Bank of Egypt's efforts to monitor the activities conducted by banks, and given the expansion in the practice of collecting subscriptions on behalf of certain entities, banks wishing to engage in this activity must submit an application to the Central Bank to obtain approval for each case individually before entering into any subscription collection process. The application must include a copy of the subscription prospectus and the draft contract intended to be signed with the entity on whose behalf the bank will collect the subscription.

Please take the necessary steps to alert regarding the full compliance with the above.

Yours faithfully,

Hesham Ramzy Abdel Hafez