GM Statement

MNHD Summary of GM and EGM Resolutions

Madinet Nasr for Housing and Development (MNHD)

An Egyptian Joint Stock Company

Summary of Resolutions of the GM and EGM of Shareholders on May 15, 2019

The GM of MNHD shareholders was convened on Wednesday, May 15, 2019, at 2:00 p.m. at the Company's Sales Center on the site of Taj City project; Extension of Thawra Street- Opposite to the Entry of Cairo International Airport- Cairo, Egypt

The GM discussed the following agenda:

1. Authorizing the BOD to execute contracts with related parties.

The EGM resolved the following resolutions:

· Authorizing the BOD to execute contracts with non-executive directors.

· Authorizing the BOD to execute additional contracts with a subsidiary company (Nasr Company for Utilities and Erections "NCUE) within EGP 300 million in 2019.

The Quorum for the validity of the EGM of MNHD shareholders planned to convene on Wednesday, May 15, 2019, at 2:30 p.m. was not met.

The EGM was canceled, accordingly. An invitation will be issued to shareholders to a second meeting of the EGM within 30-day.