HAPI TRAVEL AND TOURISM Co, S.A.E.

Incorporated in 1962 as a Company with limited responsibility , with an initial paid up capital of Leg. 25 000,- . the Company has a Commerce Registry No:109425 and a Tourism License No: A 66 emitted by the Ministry of Tourism , allowing the Company to work in all kind of tourism, ticketing , tourism transportation, incoming and outgoing tourism. With the increase in the volume of work of the Company , the capital was increased gradually till it reached Leg. 15 millions and the Company was transformed into a Public Share Company in 1999, Before 1999 the Company was managed by Mr. Raouf Boutros Ghali , as Managing Direction and owner , the rest of the owners were Mr. Roushdi Sobhi Khalil , Mr. Makram Kamel Osman , Mr. Amin Fakhri Abdel Nour, Dr. Maher Iskandar, Mr. Mohamed Mahmoud Nosseir.

In 1999 the Company was transformed into a Public share Company with a nominal capital of 150million pounds and a paid up capital of 15 millions , to be increased during 2002 to 20 millions . The Board of Directors is composed of the following , Engineer Boutros Raouf Boutros Ghali , President and Managing Director, Mr Amin Fakhri Abdel Nour ,Mr. Roushdi Sobhi Khalil , Mr. Mohamed Samir Halawa and Dr. Boutros Boutros Ghali

The Company has 775 square meters of offices on the first floor at 17 Kasr El Nil Street in Cairo , and a shop for the sales of ticket in the same building on the street , the Company has offices in Alexandria , Luxor , Aswan and Suez.

The Company owns 5 Nile Boats totalizing 147 cabins The Company owns also 4 Motor coaches and one minibus totalizing 215 seats for the tourists . We have a freight department at Cairo Airport since 1967 with offices in two main locations in the Freight Section of the Airport; we also do custom clearing at Cairo Airport

We enclose a Financial Situation as at 30/9/2001 Cairo , December 10th ,2003