yup, definitely that egypt feel.
it definitely has that mysterious feel of egypt to it. I dunno what the entry is for, but if it's for some movie-type thing, I think you should get rid of the drum/bass. That gives it a more modern feel, pulling away from the egyptian/seductive feel.
I think that around 01:56, the feel you were aiming for is kind of lost, and it transitions into something closer to dance.
@02:30, I like this melody a lot! but I'm not sure if it really contributes to the egyptian feel. it still redeems the mysterious feel, but the egyptian part is lost.
I think basically after 02:00, you start to lose the feeling you were aiming for. I think continuing the use of the instrument @ 01:00 would be good (pipe organ?).
Either way, very envious of you ability to write "egyptian" songs :)