Board Committees Audit Committee

Implementation

of

the

Recommendations

of

the

AGM

of

the

Company

held

on

23/03/2010

and

the

application

of

the

principles

and

rules

of

corporate

governance

through

the

development

of

mechanisms

and

systems

that

will

link

between

the

company's

shareholders

and

board

of

directors

tuning

in

addition

to

ensuring

the

rights

of

all

parties

dealing

with

the

company

and

affected

its

activity,

practices

and

where

governance

system

companies

includes

many

of

the

pillars

of

perhaps

the

most

important

of

audit

committees

benchmark

for

its

role

in

the

control

processes

on

what

is

happening

within

the

company

and

according

to

a

article

No.

(7)

of

the

rules

under

and

continued

under

the

write-off

of

securities,

which

states

that

"it

should

be

for

each

restricted

company

with

securities

schedules

bourse

Committee

for

review

selected

by

the

board

of

Directors

and

not

less

than

the

number

of

members

of

the

three

are

known

for

their

competence

and

experience

in

the

field

of

Company

board

members

Guise

executives,

headed

by

one

of

them

if

not

the

company

has

a

sufficient

number

of

them

are

complete

the

membership

of

the

Committee

of

experienced

committee

will

work

independently

of

management

the

company

offers

a

Committee

of

the

board

of

Directors

straight

month

on

its

work

and

a

report

containing

proposals

and

recommendations

"based

upon

the

issue

was

presented

to

the

board

of

Directors'

meeting

held

on

30/03/2010

the

decision

was

made

to

form

a

committee

review

of

the

company

and

determine the tasks which are as follows: -

The formation of the Audit Committee: -

1. Accountant / Hanna Yousof Hanna Non-executive Chairman of the Board Head 2. Dr / Radwa Abdol-Mageed Salama A certain member of the board of directors non-executive Member 3. Mr / Karim Ahmed Ali Ahmed El-toney A certain member of the board of directors non-executive Member 4. Accountant / Ibrahim Mahmoud Abd-Allah Experienced persons from outside the company Member 5. Accountant / Khaled Ibrahim Morsy Head of Fainancial sector Member and rapporteur

The functions of the Audit Committee: -

•

Review the accounting policies used in the company and the changes resulting from the application of

new accounting standards.

•

Study reports and plans of internal audit and its corrective actions and its consequences.

•

The adequacy and integrity of the disclosure of financial information and relevant information.

•

Review annual and periodic financial statements and inspection of procedures to be followed in the

preparation of them .

•

Study budgeting, including lists of cash flows and income estimates and testing procedures to be

followed in the preparation of them

•

Review the comments of the External Auditor on the financial statements and follow up on them.

•

Ensure the application of oversight methods necessary to maintain the company's assets and conduct

the periodic evaluation of administrative procedures to ensure compliance with the rules and the

Committee should verify the response of the company's management to the recommendations of the

auditor and the Board of the Capital Market.

The Committee submits its monthly reports to the Board of Directors of the company directly.

The Board of Directors can charge the Committee with any works it considers to be in favor of the company.