SODIC announces a fully underwritten EGP550m rights issue and the extension of its management team contracts to 2015

Notes and media contacts

About SODIC:
SODIC is one of Egypt's fastest growing Real Estate Development Company and is‫ currently developing a large number of Egypt's largest and most exciting projects in the most lucrative real estate sectors. These developments range from residential projects of different types to retail, commercial and even full-fledged city centers aimed at becoming the main urban hubs of both east and west Cairo.. SODIC is listed on the Cairo Stock Exchange (Ticker OCDI) and is a constituent of the CASE30 index. www.sodic.com.

Forty West:
Forty West is an exclusive development in Westown that combines outstanding architecture and design by the award winning firm of Machado & Silvetti that will provide an unsurpassed quality of urban living.

At its heart is The Forty West piazza which brings the best of Cairo dining, art and design together in one amazing outdoor space. Here you will find a truly mixed use urban fabric, with residential, commercial and retail all harmoniously intertwined. In addition, the Forty West piazza will also be anchored with a boutique 50 room hotel managed by Angsana. Angsana is part of the Banyan Tree group, which is known worldwide for its exquisite resorts and attentive Asian hospitality. Forty West is to be delivered by 2013.

The Polygon:
The Polygon will be the first full-fledged commercial offering within Westown across the street from the British International School. It is being designed by award winning, UK based Wilkinson Eyre architects. The project will have 88,000 sqm of built up area which will consist of Class-A office space, retail outlets, and a business hotel. The first phase of the project is scheduled for launch in December 2009. Forty West is to be delivered by 2013.

EFG-Hermes:
Founded in 1984, EFG-Hermes is the premier investment bank in the Middle East and is recognized as the regions market leader in securities brokerage, asset management, investment banking, private equity, and research. The firm has a proud history of innovation, market leadership and dedicated client service. In addition, EFG-Hermes is the largest shareholder in Bank Audi, with a stake exceeding 28%.

EFG-Hermes went public through a $50m GDR Offering in July 1998 and currently boasts a capital base of around $1.7bn. With a market capitalization of around $2.1bn, EFG-Hermes is listed on the London and Cairo Stock Exchanges. The firm employs over 1,005 individuals and services clients from 13 offices across the region.

EFG-Hermes serves a full range of clients from governments and corporations to institutional and individual investors. Since 1997 EFG-Hermes Investment Banking Team has advised on more than $20.5bn worth of M&A transactions and raised $12.0bn of equity for its clients.

Contact:
Engy Emad
Media Relations
T: 02-33050014
F: 02-33050024