Issue of Equity

RNS Number:0073R
EFG-Hermes Holdings SAE
16 October 2003

Press Release                                           Cairo, 16th October 2003
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           EFG-Hermes to increase paid-in capital through rights issues

The board of directors of EFG-Hermes Holding has agreed today, October 16, 2003
to increase the paid-in capital of the company by EGP200 million to become
EGP405,370,050, which is within the limit of the company's authorized capital of
EGP700 million. This will be achieved through the issuance of 40 million shares
to be offered at par, i.e. EGP5/share, to shareholders at the time of the
offering for a period of 30 days. Unsubscribed shares remaining at the end of
the period, if any, will be assigned to new investors to be determined by the
board directors.

For further information please contact:

Tarek El Shawarby
Investor Relation Department
Tel: [phone]
Fax: [phone]
[e-mail]


Ramsay Zaki
CFO
[e-mail]

Hesham Khalil
Assistant to the CFO
[e-mail]


EFG-Hermes may make or publish forward-looking statements about management
expectations, strategic objectives, business prospects, anticipated expense
savings and financial results, and other similar matters. A variety of factors,
many of which are beyond EFG-Hermes' control, could cause actual results and
experience to differ materially from the expectations expressed in these
statements.  These factors include, but are not limited to, financial market
volatility, actions by competitors, the effect of current and future legislation
or regulation, and certain other factors.

Readers are cautioned not to place undue reliance on forward-looking statements,
which speak only as of the date on which they are made.  EFG-Hermes does not
undertake to update such statements to reflect the impact of circumstances or
events that arise after the date these statements were made.



                      This information is provided by RNS
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END

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