RNS NO 9574T
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E.
24th May 1998


Re:  Commercial International Bank (Egypt) S.A.E.
Capital Increase from LE 500 million to LE 750 million

The Board of Directors of the Commercial International Bank announced the
distribution of LE 150 Million of general reserves into free bonus shares
allocated pro-rata to shareholders.

Purchasers of CIB shares from the date this announcement is published (May 25th,
1998) and up to the day prior to the date set for the distribution of free bonus
shares will be entitled to all rights allotted for bonus shares.

The decision on the remaining portion of capital increase of LE 100 million is
still pending at the current stage.

If you have any questions, please do not hesitate to contact Mr. El Labban
(Tel:202-3481797 or 202-5691852) or the undersigned (Tel: 202-5702679).

END

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