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 Chairman of the board of directors non-executive Head 2. Dr / Radwa Abdol-Mageed Salama        A certain member of the board of directors non-executive Member 3. Mr / Karim Ahmed Aly Ahmed El-Touney 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.