Egypt Trust Fund


RE: Top Holdings

The Egypt Trust

Top Ten Holdings And All Holdings Over 5% Of Total Net Assets As At March 31, 2007

Stock                                % of Total Net Assets
------------------------------------ --------------------------------------------------------------------
Orascom Construction Industrie       9.53%
Orascom Telecom Holding              9.41%
Egyptian Co for Mobile Com           6.56%
National Societe Generale Bank       6.46%
Egyptian Int'l Pharma Invest         6.19%
Telecom Egypt                        5.79%
Oriental Weavers                     5.65%
Alexandria Mineral Oils              5.48%
Egyptian Financial & Industrial Co   5.44%
EFG-Hermes                           5.41%



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