For Immediate Release

HC acts as the financial advisor in the privatization of 82.13% of Suez Steel

Cairo, September 13, 2006 – HC Investment Banking advised Banque du Caire in the privatization of 82.13% of Suez Steel Company. Misr National Steel’s (Ataka) winning bid of EGP246.50 per share was announced during a press conference held at Banque du Caire headquarters on September 12th 2006.

Chairman of Banque du Caire Mr. Mohamed Kamal Al Din Barakat described the bidding process, “During the session, the five bidding companies’ financial bids were opened, the three highest bidders that were short-listed were Misr National Steel (Ataka), Al Twerky Contractors and Amwal Al-Khaleej for Commercial Investments. The highest bidder in the subsequent auction was Misr National Steel (Ataka), closing the deal at EGP 246.50 per share.”

Banque Misr and Misr Insurance owned stakes in Suez Steel Company of 78.4% and 3.73%, respectively.

Nine Egyptian and 18 Arab and foreign companies purchased the RFP document and information memorandum.

The committee supervising the sale was comprised of representatives from the Ministry of Investment, the Ministry of Trade and Industry, Banque du Caire and HC.

Suez Steel Company owns a state-of-the-art production plant in the Suez Governorate with capacity of 600,000 tons of billet per year.