Hussein Choucri Securities & Investment

completed

Summary Of Project Information (SPI)Project NameARAB REPUBLIC OF EGYPT-HC Securities & Investment (HCSI)     RegionCentral Asia, Middle East and North AfricaSectorProject No008799Projected Board DateNovember 20, 1998Company NameHC Securities & Investment (HCSI)Major Shareholders 1. HC Securities & Investment Company (HCSI), an Egyptian investment bank established in 1994 will be the main sponsor. 2. Morgan Stanley International Incorporated, the technical and strategic partner, will also have a shareholding in the Company.Project Cost Including proposed IFC investment Total IFC investment will amount to approximately LE 4.8 million (US$1.4 million equivalent), for a total capitalization of HCSI of US$7.8 million. IFC has been requested to make an equity investment representing 10% of the expanded share capital of HCSI.Location of project and Description of site Cairo, EgyptDescription of Company and Purpose of Project The project consists of the creation of a full-service investment bank through the expansion of the activities of HC Securities and Investment Company (HCSI), an existing company in Egypt. HCSI will offer a broad range of investment banking services, including investing in quoted securities, underwriting, private placement of debt and equity issues, corporate finance (restructurings, privatization, and mergers and acquisitions), fund management, and private equity investment IFC’s effort to assist with the expansion of HCSI’s business is in line with the Corporation’s ongoing strategy to broaden and deepen the financial markets in Egypt through strong institution-building initiatives.Environmental Category and IssuesThis is a Financial Intermediary (FI) Tier 1 project. HCSI will be required to attend IFC''s training on environmental and social risk for financial institutions, implement an environmental management system to ensure that investments comply with host country requirements, and submit an annual environmental performance report to IFC.     Date SPI sent to InfoShop October 20, 1998     “This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384L:\SPI\SP8799.DOCOctober 19, 1998 4:51 PM