Raya Holding Company for Technology & Telecoms

Established in 1998 and currently listed on CASE, the business is Egypt’s largest player in the communications and information technology industry, providing retail and distribution services for the cellular phone market as well corporate and residential internet solutions. The Company is poised to become a regional player, with international growth potential, in the very near future.

Watheeqa played an imperative role in restructuring the Company’s organizational structure, thereby aiding the company in achieving internationally recognized corporate governance standards.

As of December 31, 2007 Watheeqa’s equity stake amounted to 8% and the Company’s total assets were approximately USD 217 million.