Statement re Board of Directors

Board of Directors Meeting Minutes

EFG Hermes Holding Board of Directors meeting was held on Wednesday 27th April 2011 at 11.00 am Cairo time (via a conference call), chaired by Ms. Mona Zulficar. With the participation of the following board members:

Ms. Mona Zulficar - Chairperson

Mr. Yasser El Mallawany - Board Member and CEO

Mr. Hassan Heikal - Board Member and CEO

Mr. Charles McVeigh - Board Member

Mr. Ramsay Zaki - Board Member

Mr. Sanjeev Doshi - Board Member

Mr. Sherif Cararah - Board Member

Mr. Khalifa Al Dabbous - Board Member representing DF (EFG1)

Mr. Marwan Lutfi - Board Member representing DF (EFG1)

Decision

The Board of Directors has approved buying back 5 million of treasury shares; EFG Hermes Holding has notified the Egyptian Stock Exchange of the Board of Directors' decision.