The Modern Group of Companies

The Modern Group of Companies is based in Cairo Egypt founded by Dr. Walid Gamaleldin in
1999 after a long history in the waterproofing industry dating back to the 1950s.

The company today is a partnership between Dr. Walid Gamaleldin and Citadel Capital, one of
the Middle East's largest private equity investment firms with assets of over $ 8.3 billion.

The Modern Group manufactures, bitumenous membranes (APP and SBS) and primers, extruded
polystyrene insulation (XPS), and spunbond (continuous filament) nonwoven polyester
geotextiles. The group was designed to be a "single source" provider for the roofing sector.

Today, Modern has three plants operating in Egypt and a fourth plant under construction in India

The three members of the group are:

Modern Waterproofing Company:

Modern Waterproofing Company is a leader in the Middle East region in the field of
manufacturing bitumenous waterproofing membranes. The company is the largest in Egypt and
one of the largest in the Middle East region with a market share of around 40% in Egypt, exporting
to over 42 countries worldwide. The company operates three production lines in its Cairo plant and
is adding a fourth line in Qatar in a new plant to be opened soon.

The current production is about 15 million square meters per year, and by end of 2015 when the
Qatari line is operational this will increase to 30 million square meters per year.
Spuntex Company for Engineering Textiles:

Spuntex is a high-technology producer of polyester (PET) nonwovens, for geotextiles and for
bituminous membrane reinforcement. Spuntex uses advanced spunbond technology (continuous
filament) resulting mats that are superior in all parameters to the traditional staple fiber-based
technology.

This technology is only available in five plants worldwide, thus placing Spuntex among a highly
exclusive group worldwide.

Spuntex products can be used as geotextiles which are used as filter fabrics, for soil
reinforcements, or for irrigation and drainage projects as well as pipe protection. Also, these
products can be used as the carrier (reinforcement) of bitumenous waterproofing membranes.

Modern Plastics Company:

Modern Plastics Company specializes in the production of extruded polystyrene (XPS) foam
insulation as well as the recycling and production of bitumen modifying polymer compounds.

Modern Plastics Co. is among a select few producers of extruded polystyrene foam in the Middle
East region. The use of XPS foam insulation increases energy savings, eliminates thermal
bridging at floor/wall junctions which reduces heat loss, and reduces the risk of condensation.

Modern Plastics utilizes highly-advanced recycling technologies previously unknown in Egypt.

The purity of its end products is very close to that of virgin materials, enabling end users to save
costs, while maintaining high quality standards of production.

The Modern Group is an innovative group that is vertically integrated and well diversified, thus
making available a wide range of high quality, high technology products to serve the
construction industry.