Acquisition & Merger announcement

MNHD/SODIC Joint Press Release

Reference to Madinet Nasr Housing and Development ("MNHD")'s earlier disclosure on the 10th of April 2018 and Sixth of October Development and Investment ("SODIC")'s disclosure on the 11th of April 2018 concerning the possible cooperation between both Companies, either by way of merger or acquisition, kindly be advised that EFG Hermes and Zaki Hashem & Partners, Attorneys at Law, have been appointed as advisors to MNHD and SODIC has appointed CI Capital and MHR & Partners (White & Case) as its advisors.

The advisors, with the presence of the top management of both companies, held a meeting on the 17th of May 2018, discussing options available for the cooperation and the mechanism of executing one of these options.

This disclosure comes as both companies are keen on keeping the market up-to-date in terms of disclosure.