Egypt Trust Fund



                                 THE EGYPT TRUST

                        Soci�t� Anonyme d'Investissement

             Registered Office: 11, rue Aldringen, L-1118 Luxembourg

                           R.C.S. Luxembourg B 55 584

                             Notice to shareholders

                            Luxembourg, October 2007

As you know shareholders have the right to tender their shares for redemption on
a quarterly basis subject to a 5% redemption fee.

The established procedures require that a notice of redemption must be presented
to the Fund's TA Agent (European Fund Administration S.A.) at least 30 days
prior to the close of the quarter. The following cut-off will be applicable for
the forthcoming tender offers in the year 2007:

Before, November 28, 5 p.m. Luxembourg time for the redemption of end December
2007

Results of the Tender Offer as per September 28, 2007

The Fund offered to redeem as of end of September 2007 10% per cent (247 415
shares) of its 2 474 415 outstanding shares. The Fund hereby announces that
valid redemption requests representing 14 200 shares were received before the
fixed deadline.

Shareholders who wish to redeem additional shares will need to apply again for
redemption according to the procedures described here above.

Tender Price

The price per share payable to shareholders who have validly tendered their

Shares for redemption (net of redemption fees) is USD 35,29 and was paid under
value October 12, 2007.

Hicham LAKHMISSI
European Fund Administration
Register and transfer agency
Tel:00352-48-48-80-368
Fax:00352-48-65-61-8002
E-mail: hlakhmissi@efa.lu


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