Orascom Development Holding AG — M&A Activity 2009

Mar 5, 2009

News Details

Ad-hoc | 5 March 2009 17:35

Orascom Development Holding AG:

Orascom Development Holding AG / Letter of Intent

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 signs a Memorandum of Understanding with Housing Development
Administration of Turkey (TOKI) to develop affordable housing communities
in Turkey

Altdorf/Cairo 5 March 2009 - Orascom Development Holding AG (OD Holding)
announces that a memorandum of understanding was signed with Housing
Development Administration of Turkey (TOKI) to tackle the budget housing
sector in Turkey.

Under the auspices of his Excellency Turkish Prime Minister Recep Tayyip
Erdogan, the president of Housing Development Administration (TOKİ),
Erdogan Bayraktar, and OD Holding's Chairman & CEO Samih Sawiris, signed a
memorandum of understanding with the objective of developing affordable
housing communities across Turkey.

TOKI is the sole public entity responsible for providing affordable housing
for the low and middle-income groups in Turkey through innovative financial
mechanisms, granting individual and mass housing credits, developing and
or/ partnering with others to carry out applications for housing,
infrastructure and social facilities, building, promoting and supporting
construction of housing units, and fulfilling duties and obligations by
laws and other legislation.

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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.

For further information, please contact:
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

05.03.2009 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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