Citadel Capital Scholarship Foundation Awards 50th Scholarship for International Graduate Education

The Citadel Capital Scholarship Foundation awards talented young Egyptian students grants to study at top universities worldwide

The Citadel Capital Scholarship Foundation (CCSF) announced today the recipients of its third annual round of scholarships. The CCSF’s 13 scholarships to world-class international institutions for 2009 include the Foundation’s fiftieth award to date.

“In just two years the Citadel Capital Scholarship has funded the ambitions of 50 of Egypt’s most talented and promising students,” said Dr. Nabil Elaraby, Chairman of the Board of Trustees of the Citadel Capital Scholarship Foundation. “It is, we hope, the start of a cornerstone program that offers unmatched educational opportunities to more than one generation of Egypt’s emerging leaders.”

The CCSF grants academic scholarships to talented young Egyptian men and women to pursue graduate degrees abroad on the condition that they return to Egypt to work after their graduation. Scholarship recipients study across all disciplines, including filmmaking, anthropology, art, human rights and law, business, engineering, architecture, development, medicine and more.

“We are committed to supporting the next generation of Egyptian students in their pursuit of high quality education,” said Yasmine El-Dorghamy, Director of the Citadel Capital Scholarship Foundation, “Particularly in today’s so-called flat world, education is a critical avenue to achievement — personally, professionally and even nationally. Our ultimate aim is to provide Egypt with high caliber, internationally-competitive professionals across all fields.”

The CCSF has awarded scholarships to students from across Egypt, including Cairo, Giza, Alexandria, Menufia, Ismailia, Asuit, Tanta and Aswan. Since its inaugural year in 2007, the Foundation has granted scholarships to support 41 masters degrees and nine PhDs.

“Citadel Capital created the Scholarship Foundation as a permanent opportunity for Egyptian students to have access to the world’s elite universities,” said Ahmed Heikal, Citadel Capital’s Chairman and Founder. “It is an honor to mark our fiftieth scholarship and we look forward to seeing the impact these students will have on Egypt and on their diverse fields.”

“The CCSF is an outgrowth of our belief that world-class talent is nurtured not just at top global universities, but specifically at the masters and doctoral levels,” said Hisham El-Khazindar, Citadel Capital’s Managing Director and Co-Founder. “Ultimately, this kind of investment, and any investment in education, produces Egyptian students more prepared for the challenges of a global economy. These students become professionals and leaders who benefit local firms and build Egypt’s economic base.”

Recipients of the Citadel Capital scholarships have attended institutions including Harvard, Stanford and Columbia Universities in the United States, Oxford, Cambridge and University College London in the United Kingdom, Lund University in Sweden, University of Heidelberg in Germany, University of Helsinki in Finland and ESADE Business School in Spain, in addition to other world-class institutions.

Ahmed Abdel-Aziz Tageldin was awarded a Citadel Capital Scholarship in 2007 to study at the University of Cambridge. He graduated with an MBA, with distinction, and is currently working as a Senior Brand Manager at Cadbury Group handling the Middle East and North Africa. “I feel deeply grateful to the founders of CCSF for providing financial support for my studies, without which I would not have been able to be where I am right now.” Tageldin said. “CCSF sets the example of true corporate social responsibility, going beyond short term charity giving to long term investment in the country’s future — its youth, who are eager to gain the best education possible and come back to Egypt and be part of the country’s development.”

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The Citadel Capital Scholarship Foundation helps bright Egyptian students pursue graduate degrees at elite international institutions on the condition they return to Egypt to work following graduation. The Foundation was established in 2007 by Citadel Capital, the leading private equity firm in the Middle East and North Africa. For more information, see www.citadelscholarships.org.

Citadel Capital is the leading private equity firm in the Middle East and North Africa. The firm focuses on building platform investments throughout the region in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 19 OSFs now control Platform Companies with investments of more than US$ 8.3 billion in 14 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has returned more than US$ 2.2 billion in cash to investors, more than any other private equity firm in the region.

For more information, please contact:

Ms. Ghada Hammouda
Head of Corporate Communications,
Citadel Capital (S.A.E.)

Tel: +20 2 2791-4440 • Fax: +20 22 791-4448
Mobile: +20 16 662-0002