The incident took place early this morning in Sphinx square, Agouza district in Giza, some 20 km southwest of central Cairo.
The two cops were guarding branches of two foreign banks in the area when the militants struck, killing one of the policemen on the spot and severely injuring another one before fleeing on their motorcycle.
The injured policeman died en route to a nearby hospital later, a security source said.
The militant attacks targeting police and military increased after the ouster of Islamist ex-president Mohamed Morsi last year. Over 500 security personnel have been reportedly killed since then.
The military has launched security campaigns in different areas and arrested suspects and demolished terrorist bases.
