Strategic Alliance

Commercial Intnl Bank (Egypt) SAE
30 October 2006





  'Commercial International Bank (CIB), Mr. Naguib Sawiris, Oasis Capital and
 Dynamic Securities Form Strategic Alliance to Build the Pre-eminent Investment
             and Merchant Bank in Egypt and across the Gulf Region





Commercial International Bank ('CIB'), Egypt's premier commercial bank, and Mr.
Naguib Sawiris, a leading Egyptian entrepreneur and investor, today finalized a
comprehensive strategic alliance, together with Oasis Capital Egypt ('Oasis')
and Dynamic Securities Trading ('Dynamic'). Under the terms of the agreement,
the parties will consolidate 100% of their respective financial services and
investment businesses into Commercial International Capital Holding ('CI-Capital
'), CIB's full service investment and merchant banking subsidiary, thus forming
one of the leading financial services and investment groups in Egypt.  In
addition, Mr. Sawiris along with other Oasis investors, including the
Saudi-based Olayan and U.A.E.-based Al Futtaim families, will invest new capital
in CI-Capital to help fund its ambitious growth strategy. CIB will retain
majority ownership in CI-Capital. CI-Capital will offer a wide range of
investment services including investment banking, retail and institutional
brokerage, asset management, research, private equity and alternative
investments. Through its highly successful strategic investors, including CIB,
Mr. Sawiris and the Olayan and Al Futtaim families, CI-Capital will be uniquely
positioned to aggressively expand its business within Egypt and across the Gulf
Region, with Oasis further strengthening its private equity and direct
investment capabilities. CI-Capital's objective is to create the pre-eminent
investment and merchant banking institution in Egypt and across the Gulf Region.




As a result of this transaction, CIB's investment in CI-Capital which currently
records LE 33 million,  will be significantly enhanced valuing it over LE 600
million.



Mr. Hisham Ezz Al-Arab, Chairman and Managing Director of CIB, and Ms. Sahar
Sallab, Vice Chairman and Managing Director of CIB and Chairman of CI-Capital,
stated jointly, 'throughout our discussions with our new partners, it was clear
that we share a common vision and objective for CI-Capital: to build the leading
investment and merchant bank in Egypt and throughout the region.  CIB values
highly the stellar reputation and successful track records of its new partners
in this alliance and believes that the contributions and involvement of all the
partners will provide significant momentum toward achieving CI-Capital's
objectives. Furthermore, this alliance demonstrates CIB's steadfast commitment
to strengthen and expand its investment and merchant banking businesses and find
opportune ways to capitalize upon its own strengths to further the goals of
CI-Capital.'



Mr. Naguib Sawiris, also the Chairman of Oasis, pointed out that this investment
represents a strong endorsement of CI-Capital's business model and growth
opportunities.  He further indicated that CI-Capital should benefit from its
close working relationship with CIB, one of the leading financial institutions
in the region with a strong corporate client base. CIB's unparalleled reputation
in corporate and commercial banking, coupled with Oasis's business development
capabilities and private equity expertise, provides CI-Capital with strong
support to pursue its growth strategy.





About CIB

CIB is Egypt's leading private sector commercial bank in terms of total assets,
loan portfolio and customer deposits. The Bank was incorporated in 1975 as a
joint venture between the National Bank of Egypt and Chase Manhattan Bank



With a 5% market share, 118 outlets, and 365 ATMs, CIB is the most profitable
bank in Egypt; with the largest private sector strategically located retail
banking network. It also offers a full range of financial services through its
Corporate Banking, Investment Banking, Retail Banking, Direct Equity, Brokerage,
Asset Management, Leasing, Insurance business, etc.



CIB is the best-rated bank in Egypt, capped only by the Sovereign ceiling for
Egypt, set at BB+. The Bank has been awarded as the best bank in Egypt for
several years in a row by Euromoney, Global Finance, and other international
financial institutions. CIB is also the number one Egyptian private-sector bank
in profitability, net worth and loan book.



CIB is publicly listed in Egypt, Kuwait, and UAE. Its GDR's have also been
listed on the London Stock Exchange since 1996.





About CI-CH

CI-CH is the holding company majority owned by the CIB. Its service offering
includes a wide range of investment services to local, regional and
international clients. These include investment banking, brokerage, asset
management, research, private equity and alternative investments. Among its
holdings are Commercial International Brokerage Company (CIBC), Commercial
International Asset Management (CIAM), Commercial International Investment
Banking (CIIB) and United brokerage Company (UBC) in the UAE.



About Oasis Capital Egypt

Oasis Capital Egypt is a US$ 150 million private equity fund exclusively
targeting Egyptian non-listed investments. The fund partners are Naguib Sawiris,
Olayan Finance Group and Majed Al-Futtaim Investment Trust.



About Dynamic Securities

Dynamic was set up in 1995 by the Hassanein family as a securities dealer. Since
inception, the firm maintained a niche for itself in the retail market. It has
been consistently ranked with the top ten dealers on the CASE in terms of market
share.

About Naguib Sawiris

Mr. Sawiris is the Chairman of the Board of Directors and Chief Executive
Officer of Orascom Telecom Holding. Mr. Sawiris is also the Chairman of Wind in
Italy, the Chairman of the Board of Directors of Egyptian Company for Mobile
Services (ECMS). Mr. Sawiris also serves as a member of the Board of Directors
of the Egyptian Counsel for Foreign Affairs, the Consumer Rights Protection
Association and the Cancer Society of Egypt. He has been elected to the
membership of the New York Stock Exchange (NYSE) International Advisory
Committee. Mr. Sawiris received a degree in Mechanical Engineering and a
Master's degree in Technical Administration from the Swiss Institute of
Technology and a degree from ETH Switzerland.




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