Cairo, 22 March 2012

Dear Mr. Chairman of the Board of Directors of Tahya Bank,

Further to the continuous support and assistance of the Central Bank of Egypt to the banking sector in containing the repercussions of the current period through which the country is passing, I have the honor to enclose herewith a copy of the decision of the Board of Directors of the Central Bank of Egypt issued at its meeting held on 20 March 2012, concerning the reduction of the reserve ratio by 2% to become 12% instead of 14%.

Kindly be informed and take the necessary action in this regard.

Please accept my highest regards,

Gamal Naguib

The Central Bank of Egypt Board of Directors Secretariat

Decision No.: 7 / Q. 7M / 2012 Date: 20/3/2012

Decision of the Board of Directors of the Central Bank of Egypt No. 2012/607 at its meeting held on 20 March 2012 Concerning the reduction of the reserve ratio

After reviewing the Central Bank Law and the Monetary and Banking Law 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 20 March 2012,

Article 1

The reserve ratio that banks are obliged to hold with the Central Bank of Egypt is reduced to become 12% instead of 14%.

Article 2

This decision shall apply as of the period of the reserve ratio starting on 17 April 2012 from the average balances constituting the base of the ratio from 20 March 2012.

Article 3

Continuation of the application of the decisions of the Board of Directors of the Central Bank of Egypt currently in force regarding the reserve ratio.

Article 4

This decision shall be published in the Egyptian Gazette.

The Governor

Dr. Farag El-Edqa

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