Statement re 2005 1H Results

Commercial Intnl Bank (Egypt) SAE
27 July 2005

                                 Press Release

                                2005 1H Results

CIB has ended Q2 2005 by adding up another LE 140MM to its Q1 profit to reach a
bottom line profit figure of LE 282.6MM in 1H 2005.

With a very consistent performance, the net interest income shows a 26 % YoY
increase to reach LE 420.7MM.

Non interest income showed 6% growth to LE 282.4MM, resulting in a 17.5% growth
recording LE 703MM.

On the Balance Sheet, loan and deposit portfolios showed a flat growth
attributed mainly to the appreciation of the Egyptian pound (5.3%) since
December 2004, in addition to converting part of the loans into bonds.
Eliminating the effects of those issues would result in a 7% growth in both
portfolios.

Key Figures:

                Loan Loss Provisions              LE 90MM
                Income Tax Provision              LE 81MM

Effective Tax Rate  22.2%
Cost/Income         35.5%


NPLs are stable at 5.4% of total portfolio with a coverage ratio of 142%.


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