Press Release

Orascom Development Holding (ODH) filed with the Egyptian Stock Exchange (EGX) to offer 10-15% of its Egyptian subsidiary, Orascom Hotels and Development (OHD).

ODH's Board of Directors approved the offering of 10 to 15% of its Egyptian subsidiary, Orascom Hotels and Development (OHD) at a total equity value of EGP 3.37 billion (approximately USD 470 million or CHF 455 million), to reactivate its trading on the Egyptian Stock Exchange (EGX) and comply with its listing rules and regulations. The 10-15% will be sold at a consideration of EGP 15.20 (approximately USD 2.12, CHF 2.06) per share.

This offering comes as part of the Group's monetization efforts, the proceeds of which shall be re-injected into OHD to support its ongoing operations and deleverage its balance sheet.

The Group has mandated CI Capital and Beltone investment banks as joint lead arrangers and book runners on this transaction. The necessary documentation and pricing has been filed with the EGX and is awaiting final approval.

About Orascom Development Holding AG

Orascom Development is a leading developer of fully integrated destinations that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development's diversified portfolio of destinations is spread over eight jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with a primary focus on touristic destinations. The Group currently operates seven destinations; three in Egypt El Gouna, Taba Heights and Makadi, The Cove in United Arab Emirates, Jebel Sifah and Salalah Beach in Oman and Andermatt in Switzerland. Orascom Development has a dual listing, with a primary listing on the SIX Swiss Exchange and a secondary listing on the EGX Egyptian Exchange.


Contact for Investors:
Sara El Gawahergy
Director of Investor Relations
Tel: +20 224 61 89 61
Tel: +41 418 74 17 11
Email: ir@orascomdh.com


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Contact:
Contact Investor Relations
Sara El Gawahergy +2 01 205 20 52 18
ir@orascomdh.com

Contact Media Relations
media@orascomdh.com