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25 July 2005.

EGYPT-TERROR ATTACK IN SHAM AL-SHEIK. NO IFU PROJECTS DIRECTLY AFFECTED

IFU has been involved in 2 hotel projects in Egypt:

In 1992, IFU extended a loan of DKK 7.4m to Hotel Marina in Sham Al-Sheik. The Danish partner was Helnan International. IFU’s engagement ended in 2000, when the loan was repaid.

Since 2000 IFU has been a co-investor in a hotel project in Al Quseir together with SAS Hotels. IFU has invested DKK 21.5m in share capital and extended a loan of DKK 22.3m. The hotel is expected to become operational at the end of this year.

None of IFU’s projects were directly affected by the bombings.