EFG-Hermes and Bank Audi sae launch Money Market Mutual Fund

The open-ended Bank Audi Money Market Fund will target institutional as well as retail investors looking to preserve and grow their capital in these challenging times by investing in Egyptian fixed-income securities including Treasury
bills, Treasury bonds, bank deposits and corporate bonds.

"This product is highly suitable for the current economic environment," says Hashem Montasser, Head of Asset Management at EFG-Hermes. "By investing in Egyptian fixed income securities, our investors would remain confident that their funds are being placed into lower risk and liquid fixed-income instruments."

"We are delighted to be launching our first Money Market Fund," says Bank Audi sae Deputy Treasurer, Amr Gamali. "Investors can invest into the Bank Audi Money Market Fund at any of our branches across the country knowing they are buying a well-managed product that will harness Egypt's economic growth and stability."

Clients can invest into the Bank Audi Money Market Fund with a minimum investment of 100 certificates at a face value of EGP10 each. As an open-ended fund, investors can purchase or redeem certificates in the Bank Audi Money Market Fund at any time.

While some funds charge fees to join the fund or to redeem certificates (expressed either as a percentage or a flat fee), the Bank Audi Money Market Fund is a no-load fund with no subscription or redemption charges, helping investors maximize their returns.

EFG-Hermes Asset Management has $5.5bn in assets under management in listed equities and fixed income, money market funds and private equity investments at the end of 2008. The fixed income division currently manages mutual funds for Bank of Alexandria, NSGB, and Crédit Agricole.

With a track record of product innovation and outsanding customer service, award-winning Bank Audi has recently been named Global Finance magazine's Best Emerging Market Bank for Syria 2008, Euromoney's Best Local Private Bank in Lebanon 2008 and has been The Banker's Bank of the Year — Lebanon for two years running.