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Procter & Gamble Celebrates its 20th Year of Success in Egypt and Lays Down $100 Million Fresh Investments

Cairo in 8 June 2006: Celebrating a monumental accomplishment over the past two decades on the lands of monuments, P&G mother company earmarked $100mn boosting its blossoming investments in Egypt.

For this purpose, Charles Lee, John Smith, and Margret Witman have been chosen by P&G international to participate in the 20th anniversary of P&G Egypt and to present the company $100mn new investment acknowledging its success along the years and how its performance has been up to their expectations. This boosting was announced during the celebrating ceremony held by P&G Egypt at the Pyramids versant. “It was in the year 1986 that we made our first beginnings in Egypt. We started small,” says Charles Lee, P&G Board Member, “…but we knew that Egypt is important for us. We also realized the many challenges ahead of us; little did we know that the future had so much in store for us.”

The three Board Members were received generously by His Excellency Dr. Ahmed Nazief, the Prime Minister of Egypt, acknowledging P&G history of investments and societal contribution as a corporate citizen and encouraging a whole bright promising future yet to come.

P&G business in Egypt has grown tremendously along the past few years starting with a pretty small capital of L.E12mn; the company’s investment has soared over L.E1.2bn. As production lines increased and diversified, Egypt positioned itself and with the aid of its 99% sheer Egyptian employees as a renowned exporting country. “It all began with 50 talented employees and today we are proud to have expanded our workforce to 800 very qualified and talented Egyptian, men and women,” Mohamed Samir, P&G General Manager stated. “Such rising trends have only motivated us to introduce our quality products and expand more and more in the products range.” Today, P&G Egypt produces 11 products out of the 300 product range of P&G international. “P&G Egypt has reserved a place among the top ten exporting companies … we are exporting our products to more than 34 countries in Africa, Asia and Europe.”

Allocating $100mn in support of the cycle on investment of P&G Egypt over the upcoming few years, only reflects the USA-based company in the Egyptian administration and employees. “Our team of 700 fine Egyptian men and women are an inspiration to others. A lot of the great innovation in P&G around the world originates in Egypt,” Lee added.

Even more, the gesture mirrors root confidence in a favorable investment milieu surrounding Egypt nowadays with a firm paced economic reform. “The commitment to economic reforms that Prime Minister Nazif’s government is promoting is courageous and inspiring.”