Egypt Day!

[Dr. A ♥ O 203]

Beltone Financial Brings First 'Egypt Day' to the United States

Monday, Feb. 4 2008

PR Newswire

Comtex

NEW YORK, Feb 04, 2008 /PRNewswire via COMTEX/ -- Beltone Financial today announced First "Egypt Day", an event being held on February 4, 2008 at the New York Stock Exchange (NYSE), to showcase the increasing levels of investment opportunities in Egypt, the Middle East and North Africa region (MENA). Top governmental and business leaders from Egypt will be present at this inaugural event to share their business and economic insights as well as ring the closing bell at the NYSE. Beltone also anticipates a high level of participation from current and prospective US investors.

"The reception we are receiving from US investors is overwhelmingly positive," said Mr. Aladdin Saba, Chairman of Beltone Financial, the region's premier investment bank. "Compelling investment opportunities in Egypt are attracting abundant flows of Arabian Gulf petro-dollars. Sound fiscal policies, in conjunction with the non-existence of the subprime lending crisis, are cushioning Egypt from volatility. These factors, amongst others, enable Beltone to be well-positioned as the local liaison between the global investment community and the Middle East," he said.

To commemorate First "Egypt Day" at the NYSE, Beltone Financial will be leading a number of Middle Eastern notables in the ringing of the closing bell. The region will be represented at the closing bell ceremony by Minister of Investment, Dr. Mahmound Moheildin and the Chairman of the Cairo and Alexandria Stock Exchange (CASE), Mr. Maged Shawki. Corporate leaders and American investors from Egypt will be accompanying the group to share their perspective on the investment opportunities in the region. The CEO of NYSE Euronext, Mr. Duncan Niederauer will also be present.

Beltone Financial, spearheading this unique investment conference in the US, is the fastest-growing investment bank in the Middle East. Headquartered in Cairo, the company has offices throughout the region. Beltone Enclave opened in New York in 2007 and is the first investment bank exclusively dedicated to serving institutional and high-net-worth investors in the Middle East and North Africa.

"The financial services industry in the region is emulating world-class global players," added Mr. Saba. "And, with Egypt's unique geographical position at the gateway to the world's largest block of consumers -- 2 billion people over three continents in Asia, Africa and Europe -- we are well poised to address both global and local sophisticated investors.

The Arabian Gulf States have excess liquidity of up to US$500 billion a year, presenting a significant opportunity for US investors. Last year, the Gulf States invested US$6 billion in Egypt -- more than half the record US$11.1 billion of total foreign direct investment (FDI: 14.64, +0.10, +0.68%) in Egypt. Significant new investment is also coming from Italy, Spain, France and Turkey, joining major investors from the United States and Britain.

A wide range of Government reforms has transformed the economic environment in Egypt in recent years including the significant reduction of tax and customs rates, further elevating investment opportunities. Foreign Direct Investment has leapt from US$ 400 million in 2002 to US$ 11.1 billion in 2007 and is expected to increase in 2008. Foreign trade is expanding rapidly, especially between the US and Egypt, which has risen 50 percent in the past three years.

Over recent years, market conditions have improved due to the evolution of the Middle Eastern markets in regards to trading, regulation and compliance. Trading volumes and values have crossed the threshold that qualifies them for institutional investment. Investor confidence has been boosted by Egypt's adoption of an OECD-approved Code of Corporate Governance, which is being considered by other MENA countries, and a Freedom of Information Law is passing through Egypt's Parliament. Finally, Investor Relations departments and the 'Big Four' auditors are ensuring the highest levels of transparency and disclosure in accordance with worldwide best practices.

Mr. Saba concluded, "The Egyptian market is also flourishing on a local level. Consumers are investing as never before, with huge increases of new investors in equity markets and people establishing small and medium sized companies. Also, we see the talents and skills of Egypt's youthful, well- educated workforce being employed in sound, expanding industries, such as banking, IT and manufacturing." Furthermore, Egypt's stock exchange has been consistently one of the world's top performers in recent years. The key financial indicators are registering optimism for 2008 and, through a clear picture of quality transactions in the pipeline, we can see the continuance of this spectacular upward trend."

About Beltone Financial Holding SAE

Beltone Financial Holding is the fastest growing investment bank in the Middle East and one of the region's leading financial services firms. Beltone serves investors in the world's most exciting investment market, outranking every other investment bank in the Middle East for year-on-year growth since its inception in 2002. The focus of Beltone's strategy is innovation and product differentiation.

The Asset Management team has built one of the region's biggest investment portfolios, currently more than $5.0 Billion, an increase of 8,600 % since 2003. Beltone's workforce has increased from 20 to almost 200, serving clients from a network of offices in Cairo, Riyadh, Jeddah, Dubai, Qatar, London and now, New York.

Institutions, banks and high-net-worth investors in Egypt and the Middle East, Europe, North America and Asia are offered a full range of services including Investment Banking, Asset Management, Securities Brokerage, Research, Capital Markets and Private Equity investment. Clients benefit from portfolio management for all-risk profiles, investment horizons and fixed- income products, mutual funds and money market funds.

Beltone Asset Management launched the first money market accounts denominated in USD, Euro and EGP in Egypt, in affiliation with Banque Misr and Egypt Post, as well as a corporate pension plan. Beltone Asset Management has also launched the MENA Equity Fund, the first equity fund to list on the Dubai International Financial Exchange. The $50 million fund will invest in listed equities across the region.

Beltone Investment Banking has managed to close deals across the Middle East with clients that include: Ghabbour Auto; Orascom Hotels and Development; Wind Weather investments, and Celtel-Vodafone in Egypt, and Medgulf Insurance Company; SAICO; ACIG and Al-Ahlia Cooperative Insurance Company in Saudi Arabia, and DAMAC in Dubai.

Beltone's Research Department conducts extensive research and analysis of the region's most actively-traded companies, enabling clients to make investment decisions based on an unmatched source of corporate knowledge.

SOURCE Beltone Financial

Source

[HLM 1]

Everything in Egypt is already american!!!! looool.....

my husband was like " this is the dirty/poor version of America" lol he couldnt find anything cultural!! it actually made me think there isnt one thing that is truely egyptian nor adopted from our ancestors!!!

so i see egypt in like twenty yrs from now totally cleaned off of any culture left....

[ya falaha! 0]

I dunno, I guess I saw a different Egypt than your husband but other than a few fast food joints nothing screamed "dirty, poor America" to me. I saw plenty of Egyptian culture, real Egyptian culture (mind you I stayed 98% of the time in the styx). Even in Cairo or Alex I didn't see anything that resembled the America I know except for the aforementioned fast food joints or maybe some Western styled knock offs. Don't worry, Egypt is still in there and I believe it always will be.

Everything in Egypt is already american!!!! looool.....

my husband was like " this is the dirty/poor version of America" lol he couldnt find anything cultural!! it actually made me think there isnt one thing that is truely egyptian nor adopted from our ancestors!!!

so i see egypt in like twenty yrs from now totally cleaned off of any culture left....

Edited February 5, 2008 by moody

[dillydally 0]

Everything in Egypt is already american!!!! looool.....

my husband was like " this is the dirty/poor version of America" lol he couldnt find anything cultural!! it actually made me think there isnt one thing that is truely egyptian nor adopted from our ancestors!!!

so i see egypt in like twenty yrs from now totally cleaned off of any culture left....

you said it sister...i completely agree...i have been visiting Egypt since I was basically an infant... and time and time again...every year...it becomes less egypt and more westernized...which is not a bad thing to a certain extent i just hate to see people losing their culture and love for it just talking to my cousins amuses me sometimes...most of them sadly do not want to associate themselves with any aspect of being Muslim, Egyptian, or arab at all...and part of it is the economy and society there have become sadly "corrupted" for lack of better words...the lack of organization...lack of a healthy lifestyle...lack of a well paying job...doctors there make something like 1500 geneh in the month (not even 300 dollars)...while here its at LEAST 90,000 if not more... it makes me wonder...you would think instead of the people trying to BECOME like another country they would change themselves internally first rabena ma3ana we ma3ahom it saddens me everyday i swear...one day i am going to go back to egypt and it will be called something like egyptopia...just so they can be "cool"...ugh it irritates me...