Requirement to Provide the Central Bank with Data on Participation in Companies Exceeding 5% Capital

Mr. Chairman
Cairo, March 13, 2014
Bank

Greetings,

In light of the role of the Central Bank of Egypt in setting supervisory standards and controls that ensure the safety and soundness of the banking financial system and its good performance, and with reference to the meeting held with the heads of banks on March 9, 2014, I wish to confirm that it is required for the Bank, in the event of its desire to participate in any financial or non-financial companies with a percentage exceeding 5% of the issued capital of the company, to provide the Central Bank of Egypt with sufficient data about the company intended for participation at least two months before taking the actual participation measures. This data must include, at a minimum, the following:

1. The purpose of the company and its main activities.
2. Names of partners and shareholders.
3. Data on original owners if the shareholders in the company are legal entities.
4. The current Chief Executive Officer managing the company.
5. The targeted participation percentage of the Bank.
6. The objective of the participation.
7. Expected return or benefit.
8. Exit strategy.

This is without prejudice to the decision of the Board of Directors of the Central Bank of Egypt dated July 27, 2004, issued via Circular Letter dated August 24, 2004, regarding setting maximum limits for the Bank's investments in securities, and taking into account that in the event of observations from the Central Bank of Egypt, the Bank will be notified within a deadline of two months from the date of submission of the data.

Please kindly alert to take the necessary measures in this regard.

Accept my highest regards.

Hisham Rams Abd El-Hafez