several sell side advisory mandates with an aggregate value of over LE 1.1 billion. The firm's backlog of fixed income products of LE 500 million represents three forthcoming debt issues. Telecommunications and information technology (IT) represent areas of rapid growth in developing markets. As sole financial advisor to Vodafone and AirTouch in the creation of Misrfone, Egypt's second GSM network, EFG-Hermes handled the LE1.8 billion licensing agreement and oversaw the country's largest-ever loan syndication transaction, worth LE2.4 billion. In addition, having identified a need for IT specifically suited to the Arab market, we initiated the pooling of three of Egypt'slargest IT firms under a new entity, Tritech (later Raya), a major force in software development, systems integration and hardware distribution.EFG-Hermes concluded its first Jordanian deal in July 1998, as sole placement agent for the sale of shares worth US$26 million in Pella, owner of Jordanian GSM network Fastlink. Soon after, against stiff international competition, the firm was chosen as sole financial advisor in the Jordan Cement privatization issue. According to London's "Financial Times", the resulting US$100 million purchase by Lafargewas "a triumph for Egypt's efforts to export its privatization expertise."Looking also at Africa, we advised a leading Yemeni group on its US$35.7 million acquisition of a controlling stake in National Tobacco Enterprises, Ethiopia's monopoly producer. That agreement was signed in January 1999. As economies continue to expand, EFG-Hermes should be well positioned to capitalize on regional development2) Securities BrokerageEFG-Hermes' two distribution arms--Financial Brokerage Group (FBG) and Hermes Securities Brokerage (HSB)--are clear leaders in the Egyptian capital market. Facing competition from over 110 local and international firms, the combined firms have consistently maintained the highest market share. Indeed, in 1998, EFG...
