Thus far ACGC has been positioning itself as a textiles holding company-

-little attention had been given to the Group's vast land bank most of which is situated in prime locations in the Nile Delta region

Earlier this year a separate department with a specialized team was setup to manage the land bank-

-on October 25th 2009 the Group's Board of Directors announced the setup of a new real estate development company-

-thus allowing ACGC to realize the untapped value of its real estate assets-

-and reposition itself as a specialized holding company banking on its expertise and legacy in the textile industry and capitalizing on the value of its prime real estate assets