Background Specific reading disorder (dyslexia) is common in primary school students. Data on prevalence rates in Egypt are needed along with better screening tools to guide future research. We aimed to estimate the frequency of dyslexia in a sample of fourth and fifth graders. Method A cross‐sectional study was conducted in Eastern Cairo through multistage random selection of students from three governmental primary schools. A total of 586 students were recruited. Only 567 students fulfilled the inclusion criteria; they were subjected to screening by Goodenough Draw‐a‐Man test for intellectual quotient (IQ), the Reading Disability Test of Nasra Gilgil (RDT) to identify dyslexic children, Wechsler Children Intelligence Scale for thorough detection of IQ, and the Kiddie Schedule for Affective Disorders and Schizophrenia (K‐SADS‐PL) to detect psychiatric comorbidity. Results The frequency of occurrence of specific reading disorder (dyslexia) was 11.3% among the studied sample of Egyptian primary school students. The gender ratio was nearly 1.3:1 boys to girls. Comorbidity with other psychiatric disorders was found in 57.8% of the sample. Attention deficit hyperactivity disorder (ADHD) was present in 33%, generalized anxiety disorder in 21.6%, and major depressive disorder in 16.2% of patients. Conclusion Dyslexia was prevalent in fourth and fifth graders. A meaningful presence of ADHD, anxiety, and depressed mood was detected in students. There is a need for better screening and awareness for early intervention and service provision. The cross‐sectional design, lack of collateral information, and records precluded inference of casualty. The lack of rural comparator and samples from other governorates limit generalization of results.