Agreement

Madinet Nasr Housing & Development Announces the Commencement of the Burial of the Overhead Transmission Lines Passing Through Taj City

Madinet Nasr Housing & Development (EGX: MNHD.CA, "MNHD"), a leading urban developer in Egypt, announced today the awarding of burying the overhead transmission lines (OHTL) passing through Taj City. To be buried outside the land plot. The burying of the cables will be done by the Management of Military Works and under supervision of the Egyptian Electrical Transmission Company (EETC)

All OHTL passing through Taj City will be buried between 4 to 6 months from now. This comes as the Cairo-Suez road is being widened.

"We promised Taj City residents as well as investors that the high voltage cables will be buried," Ahmed El Hitamy, CEO of MNHD said happily, "our aim is to have a safe and aesthetically beautiful city, and burying the cables will help us achieve that."

On a related note, MNHD also secured relocating the OHTL passing through SARAI to be moved to the common area for the Cairo-Suez Road, under supervision of the EETC for a duration of 22 months.

-Ends-

Madinet Nasr Housing & Development (MNHD) is a leading Egyptian urban developer. Since inception, the company has initiated and completed a number of key developments, including the majority of the Nasr City district in the Greater Cairo Area, which covers an area of more than 40 million square meters and is home to 3 million people. MNHD's land bank includes 3.5mn sqm in a prime location inside Cairo across from Cairo International Airport and 5.5mn sqm in a strategic location on the Suez Road. You can learn more about us on our website at mnhd.com.

Ahmed El Hitamy

CEO

MNHD

4, Youssef Abbas St.

Nasr City, Cairo

Tel: +2 (02) 2400-6207

[email protected]

Salah Katamish

Director of Investor Relations

MNHD

4, Youssef Abbas St.

Nasr City, Cairo

Tel: +2 (02) 2400-6207

[email protected]