Cairo: 23 May 2012

To: The Chairman of the Board of Directors Bank Tahya Greetings,

Further to my letter dated 22 March 2012 regarding the reduction of the reserve ratio from 14% to 12%, and continuing our support for the Egyptian banking sector, I have the honor to enclose a copy of the decision of the Board of Directors of the Central Bank of Egypt issued at its meeting held on 22 May 2012, concerning the reduction of the reserve ratio to 10% instead of 12%. Please be informed and take the necessary action in this regard.

Yours faithfully, Gamal Naguib

The Central Bank of Egypt

Board of Directors Secretariat

Issued No: 10/C.M./2012/10 Date: 22/5/2012

Decision of the Board of Directors of the Central Bank of Egypt No. 2012/1012 at its meeting held on 22 May 2012 regarding the reduction of the reserve ratio

Having reviewed the Law on the Central Bank and the Monetary and Banking System issued by Law No. 88 of 2003 and its executive regulations,

And the decisions of the Board of Directors of the Central Bank of Egypt issued regarding the reserve ratio,

And with the approval of the Board of Directors of the Central Bank of Egypt at its meeting held on 22 May 2012,

Decided (Article One)

The reserve ratio that banks are obliged to maintain with the Central Bank of Egypt is reduced to become 10% instead of 12%.

(Article Two)

This decision shall apply from the reserve period beginning on 26 June 2012, based on the average balances constituting the denominator of the ratio from 29 May 2012.

(Article Three)

Continuation of the application of the existing decisions of the Board of Directors of the Central Bank of Egypt regarding the reserve ratio.

(Article Four)

This decision shall be published in the Egyptian Gazette.

The Governor

Dr. Farouk El-Waked

---

Headquarters: 54 El Gomhoria St. - Cairo. Internal Tel: 2733 - Office Tel: 27332770 Fax: 25976035