I have the pleasure of reporting on our company's progress for the fiscal year 2000. In a subdued environment for the Egyptian economy at large and the financial sector in particular, our company faced the challenge with flying colors and through judicious and timely disposals substantially improved its liquidity and thereby comforted its overall position. The strategy in place was pursued, our portfolio refocused, and selected talent added to our managerial and analytical team with the former global euphoria tempered, and the world economy undergoing a period of consolidation, your institution is well positioned to weather any unrest with resilience and seize the opportunities at hand to all our stakeholders - clients, employees and shareholders - thanks for their loyalty and support.

Hussein Abdel Aziz
Chairman, CIIC