Orascom Development Holding AG — Board/Management Information 2013

Apr 22, 2013

News Details

Ad-hoc | 22 April 2013 07:00

Orascom Development Holding AG: Change in the Executive Management of Orascom Development

Orascom Development Holding AG / Key word(s): Change of Personnel

22.04.2013 07:00

Release of an ad hoc announcement pursuant to Art. 53 KR

Dear Madam/Sir,

Change in the Executive Management of Orascom Development

Altdorf/Cairo, 22 April 2013 - The current Chief Operating Officer (COO) of
Orascom Development Holding AG (Orascom Development), Raymond Cron, decided
to leave the group by end of June 2013 to take over new professional
challenges in another company.

Raymond Cron joined Orascom Development in 2008. He held the position as
Head European Operations until 2011. In this capacity he was responsible
for the projects in Andermatt, Montenegro and in the United Kingdom. At the
beginning of 2012 and in the course of the reorganization of the Executive
Management, Raymond Cron became COO.

Orascom Development regrets Raymond Cron's decision and thanks him for his
big commitment in favor of the Group. Orascom Development wishes him all
the best for his future.

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 nine
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro,
United Kingdom and Romania). The Group currently operates six destinations;
three in Egypt El Gouna, Taba Heights and Haram City, The Cove in United
Arab Emirates and Jebel Sifah and Salalah Beach in Oman. 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 Investor Relations
Till Leisner +41 41 874 88 07
Sara El Gawahergy +2 01 205 20 52 18
ir@orascomdh.com

Media Contact
Philippe Blangey
Swiss Media Office
Tel: +41 43 268 32 35
Email: media@orascomdh.com

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materially from those expressed or implied in the forward looking
statements (or from past results). Factors such as (i) general economic
conditions and competitive factors, particularly in our key markets; (ii)
performance of financial markets; (iii) levels of interest rates and
currency exchange rates; and (vii) changes in laws and regulations and in
the policies of regulators may have a direct bearing on Orascom Development
Holding AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that
interim results are not necessarily indicative of the full-year results.
Persons requiring advice should consult an independent adviser.

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Language: English
Company: Orascom Development Holding AG
Gotthardstraße 12
6460 Altdorf
Switzerland
Phone: +41 41 874 17 17
Fax: +41 41 874 17 07
E-mail: ir@orascomdh.com
Internet: www.orascomdh.com
ISIN: CH0038285679
Swiss Security Number: A0NJ37
Listed: SIX

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