Page 33

the price is indeed extremely favorable and is regarded as a special concession to AUC by the South Tahrir Agricultural Company and the Egyptian government. On reflection, we believe that it would be unwise to approach the government at this time for a further donation, given the opinion of government officials that they have already been very generous to AUC vis-a-vis the DDC, and the strong perception that the funding of the $50,000,000 trust fund has been another generous recognition of the importance of AUC. We believe that to push for further concessions at this time and for this purpose might have a counterproductive effect. All evidence indicates that the purchase of this land would be an exceedingly good investment for the university. If the DDC continues to be a viable part of the university its future will be protected. If a decision is ever made to discontinue the center, the land would remain as a valuable investment that could be sold for considerable profit at the end of the five year period. We have requested official confirmation that the offer is still valid. However, governmental committee action is required that may or may not be completed prior to the February meeting of the Board. Assuming that the October offer will hold we again make the following recommendation: RESOLUTION; The Board of Trustees of the American University in Cairo approves the purchase of 500 feddan at South Tahrir for use by the Desert Development Center, at a price not to exceed LE 870,000. The source of funds will be the Renewals and Replacement Plant Fund