Disclosure Statement

Clarification from Citadel Capital SAE Regarding the Current Call for Subscription to its EGP 1.05 billion Capital Increase via Rights Issue at Par

  1. Citadel Capital Partners Ltd. (CCP) will, as the principal shareholder in Citadel Capital SAE, participate in the capital increase during the current subscription period ending on 3 October 2011. CCP will participate on a pro-rata basis, in respect of which we note that CCP’s shareholding on 25 August 2011 was 33.38%.
  2. The c.70.1 million shares to which CCP will accordingly subscribe (as per (1) above) will be subject to a one year lock-up period beginning on the date of authorization in the Commercial Registration, in accordance with CCP and Citadel Capital SAE’s previous statements and disclosures to this effect.
  3. In the event that the subscription is not fully covered during the original subscription period, CCP will subscribe to the un-covered portion of this rights issue. CCP is entitled to trade any such shares in excess of the c.70.1 million shares noted in (2) above as it may wish.
  4. Citadel Capital SAE remains fully committed to its previously disclosed use of proceeds from this capital increase.