3rd Quarter Results - Net Profits Up 19%

COMMERCIAL INTERNATIONAL BANK (EGYPT) SAE
26 October 1999

               Commercial International Bank (Egypt) S.A.E
                      Third Quarter Financial Results
                             September 1999

The third quarter of 1999 witnessed an increase of 19% in net profits from LE
222 Million ($65.1) in September 1998 to LE 265 ($77.7) in September 1999.

All key operating products lines performed well. Interest income increased by
14.7% from LE 733.6 Million ($215.1) to LE 841.3 Million ($246.6) while interest
expense increased by only 7%.

Net Operating income increased by 5% from LE 474.3 Million ($139.0) in September
1998 to LE 497.7 Million ($145.9) in September 1999.

In addition, Net Loans/Deposits ratio improved from 107% in September last
year to 97% during the same period this year due to a healthy 12% increase in
customer deposits.

CONTACT:  Mrs. Maha Ragab, Assistant General Manager, Marketing Support Group.

For full details, please visit our web site on www.cibeg.com


               Commercial International Bank (Egypt) S.A.E
                           Statement of Income
                 From January 1. 1999 to Sept. 30, 1999

                                               Sept. 30, 1999    Sept. 30, 1998

- Interest Received From Clients & Banks          742,500,833       630,896,628
- Interest Received From Treasury & Corporate
  securities                                       98,832,925       102,733,066
Deduct
- Interest Paid to Clients & Banks               (555,943,838)     (517,107,652)

Net Interest Income                               285,389,920       216,522,042

- Banking Fees & Commissions                      142,758,508       130,797,528
- Dividend Income                                  11,298,611        13,501,248
- Profit (losses) From Selling Investments         (1,283,296)       69,180,465
- Foreign Exchange Income                          42,132,862        31,963,482
- Other Income                                     17,427,516        12,300,922
Total Fee Income                                  212,334,201       257,743,645

Net Operating Income                              497,724,121       474,265,687

Deduct

- Provisions                                     (100,607,977)     (129,498,451)
- General & Administrative Expense &             (122,529,293)     (108,620,114)
  Depreciation
- Other Expenses                                   (9,198,165)      (13,668,471)
                                                 (232,335,435)     (251,787,036)
Net Profit                                        265,388,686       222,476,651


               Commercial International Bank (Egypt) S.A.E
                           Financial Position
                         As of September 30.1999

Assets                                         Sept. 30, 1999 December 31, 1998
                                                       LE                LE

- Cash & Due From Central Bank                  1,879,508,927     1,470,139,915
- Due From Other Banks                          1,472,640,809       692,853,069
- Treasury Bills                                  335,079,126       584,023,753
- Trading investments (Net Of Provision for
  Trading Investments)                            224,230,795        77,832,181
- Loans & Overdrafts (Net Of Provision for
  Doubtful Debts)                               9,521,021,966     9,408,661,363
- Non-trading Investments                       1,077,964,793       765,695,846
- Debit Balances & Other Assets                   246,443,920       168,953,990
- Fixed Assets (Net)                              112,795,968       109,129,926
Total Assets                                   14,869,686,304    13,277,290,043

Liabilities & Shareholder's Equity Liabilities

- Due to Banks                                    419,553,848     1,213,025,411
- Customer Deposits                             9,776,528,925     8,729,695,577
- Credit Balances & Other Liabilities             594,693,314       336,006,953
- Dividends & Profit Sharing                                -       229,127,028
- Medium Term Bonds                               600,000,000       300,000,000
- Long Term Loans                               1,478,490,812       788,493,800
- Other provisions                                452,878,951       398,789,506
Total liabilities                              13,322,145,850    11,995,138,275

Shareholders' Equity

- Issued & Paid - in Capital                      650,000,000       650,000,000
- Reserves                                        632,151,768       632,151,768

Total Shareholders' Equity                      1,282,151,768     1,282,151,768
Net Profit for the Period                         265,388,686                 -

Total Shareholders' Equity & Net Profit for
the period                                      1,547,540,454     1,282,151,768

Total Liabilities & Shareholders' Equity       14,869,686,304    13,277,290,043
- Contra Accounts                               5,594,889,592     5,843,852,411