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The 500 pound banknote is expected to be issued by the Arab Republic of Egypt at some point in the near future. The Egyptian government's plans for introducing notes denominated at 200 and 500 pounds were first announced by the Al-Ahram and Al-Akhbar newspapers in December 2006. The 200 pound note was issued on May 7, 2007, but the 500 pound banknote, which the government initially planned to enter circulation on June 23 of the same year, has yet to be issued.