Orascom Development Holding AG — M&A Activity 2009

Mar 15, 2009

News Details

Ad-hoc | 15 March 2009 20:36

Orascom Development Holding AG:

Orascom Development Holding AG / Contract

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Press Release

Orascom Development Holding AG (OD Holding):
Orascom Development & Management, one of OD Holding's subsidiaries, signs a
development management agreement with Nasr City Housing

Altdorf/Cairo, 15 March 2009 - OD Holding announces that a development
management agreement was signed between Orascom Development & Management
(ODM) and Nasr City Housing, an Egyptian listed real estate development
company with total land bank of 10.13 million square meters. ODM will
manage and develop approximately 3.78 million square meters of commercial
and residential units in 'Al Nasr Gardens', a project owned by Nasr City
Housing.

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Information and Explaination of the Issuer to this News:

About the Group
Established in 1989, Orascom Hotels and Development S.A.E. ('OHD') today is
a leading integrated town developer in Egypt and the Middle East with over
18 years of experience. OHD is a developer of fully integrated towns that
include hotels, private villas and apartments, leisure facilities such as
golf courses and marinas as well the supporting infrastructure. It has
secured or is in the course of securing large land banks in untapped yet
attractive locations with development potential in Egypt, Morocco, Oman,
the United Arab Emirates and Switzerland. The high quality portfolio
combined with a proven business model is expected to result in long-term
growth opportunities. Currently, OHD operates two successful flagship
towns, El Gouna and Taba Heights (both in Egypt), has secured, subject to
certain conditions, or is about to secure, land banks of approximately 127
million square meters and has a workforce of approximately 14,000 staff.
Since the settlement of the exchange and tender offer by OD Holding for
OHD, OD Holding is the new parent of OHD. OD Holding has a dual listing,
with a primary listing on the main board of the SIX Swiss Exchange
(Switzerland) and a secondary listing on the EGX (Egypt Stock Exchange).
The company's shares are fully fungible (with the same ISIN code) and can
be traded on both stock exchanges in Swiss Francs.

Orascom Development Holding AG
Mamdouh Abdel Wahab
Director Investor Relations
Tel: +41 79 846 55 60
+20 12 315 32 00
Email: ir@orascomdh.com

Swiss Media Office
Philippe Blangey
Tel: +41 41 874 17 11
Email: media@orascomdh.com

15.03.2009 Financial News transmitted by DGAP

Language: English
Issuer: Orascom Development Holding AG
Gotthardstraße 12
6460 Altdorf
Schweiz
Phone: +41 41 874 17 11
Fax: +41 41 874 17 12
E-mail: ir@orascomdh.com
Internet: www.orascomdh.com
ISIN: CH0038285679
WKN: A0NJ37
Listed: Foreign Exchange(s) SWX

End of News DGAP News-Service

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