RNS No 9490n
COMMERCIAL INTERNATIONAL BANK (EGYPT) S.A.E.
24th May 1998


Re:  Commercial International Bank (Egypt) S.A.E.
     Capital Increase from LE 500 million to LE 750 million

The Board of Directors of the Commercial International Bank announced the
distribution of LE 150 Million of general reserves into free bonus shares
allocated pro-rata to shareholders.

Purchasers of CIB shares from the date that this announcement is published (May
25th, 1998) and up to the day prior to the date set for the distribution of free
bonus shares will be entitled to all rights allotted for bonus shares.

The decision on the remaining portion of capital increase of LE 100 million is
still pending at the current stage.

If you have any questions, please do not hesitate to contact Mr El Labban
(Tel: 202-3481797 or 202-5691852) or Maha Ragab (Tel: 202-5702679).


END

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