9 June 2012    

* * Translation of the Arabic-language Original * *

Disclosure Notice

Dear Sir,

Citadel Capital (CCAP.CA on the Egyptian Exchange) disclosed today that lenders have signed amended documentation reaffirming that a US$ 2.6 billion debt package is fully in place to finance the design, construction, and operation of ERC’s US$ 3.7 billion greenfield petroleum refining upgrade project in Mostorod Area the Greater Cairo Area.

Lenders, including leading global export credit agencies and development finance institutions, gathered on 7 June 2012 in Cairo in the presence of Egyptian Prime Minister Kamal El-Ganzouri to discuss the latest developments regarding both the project as a whole and the debt facility in particular; the latter stands as a very important step toward financial close.

Citadel Capital would like to confirm that this disclosure is intended only to ensure the market is possessed of the most up-to-date information regarding the project’s current status and does not represent an announcement of the anticipated financial close on ERC. The achievement of financial close will be disclosed in a separate disclosure notice.