Cairo, Egypt – 15 October 2008 As one of the leading real estate developers in Egypt, with presence in the Saudi real estate market, Palm Hills Developments (PHD) took part in the 1st Real Estate Investment World Summit in Riyadh, Saudi Arabia, as a platinum sponsor.

With land acquisitions in Saudi Arabia totaling 6.7 million sq meters - 3 million sq meters in Jeddah and 3.7 million sq meters in Riyadh, the summit brought together more than 800 leading investors, bankers, and executives from the top Islamic banks and private equity firms and banks. The Company’s participation was also effective in demonstrating PHD’s strong presence in Saudi Arabia and the region as well as its commitment in doing its part to educate and generate awareness for the local real estate industry amongst foreign and regional investors and institutions.

PHD was on the Real Estate panel discussion, in addition to conducting a presentation on the topic of “Sustainable initiatives in Real Estate Projects.”

The panel discussion and presentation were carried out by PHD’s Vice President of Strategic Planning and Business Development, Ashraf Ghazaly, who discussed the Company’s self-financing model and in-house construction division, amongst other things. He was accompanied by Eng. Mohamed El Garhy, PHD’s Vice President of Operations in 6th of October City and now, Saudi Arabia.

The meetings and talks that took place between the Company’s two VP’s and key institutions and investors in the regional market allowed for a reassuring dialogue of understanding and provided the ideal platform for investors, financial institutions and developers to discover investment opportunities and discuss important issues and developments in the sector.