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.... ~ . - • Mr. Snaith's report to the Committee. There was some discussion of leasing the Z-2 site to the University or seeking an exemption from taxation. The question of whether the dormitory to be built on that land might be able to house commercial properties was also raised. Cairo Beverages - Mr. Snaith reported that the loan installment of LE75,OOO plus related interest was settled in mid-July in accordance with the rescheduling agreement of April 1, 1983. LE225,OOO of the LE900,OOO loan has now been repaid, giving a current outstanding balance of LE675,OOO. 5. Miscellaneous: A) Fustat Project - The UEEF has informed the principals that we are not interested in joining this project at the present time. Before the Fund would consider joining this project, the principals must produce hard-copy assurances which clarify the status of land ownership and spell-out what the UEEF would receive should they become involved, with specific details about the 50 acres of land which the principals have said would be given to AUC. B) New Investment Prospects - Mr. Snaith was asked to talk with Mohammed Allam to see if he could arrange for meetings with successful business men in the area who might be able to advise the UEEF on opportunities for investment. Among the names mentioned were Mr. Higazi, Mr. Roushdi, Mr. Edward Safra (Allied Arab Banks in London), Mr. Mohammed Nosseir, and Mr. Fouad &1ltan. 6. There being no fu rther bu siness the meeting was ad jou rned . LE Investment Committee -2- November 7, 198