Orascom Development Holding AG — Regulatory Filings 2012

Sep 30, 2012

News Details

Ad-hoc | 30 September 2012 07:00

Orascom Development Holding AG: Reopening of Taba Heights Marina to boost tourism on the Sinai Peninsula

Orascom Development Holding AG / Key word(s): Miscellaneous

30.09.2012 07:00

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

Press Release

Reopening of Taba Heights Marina to boost tourism on the Sinai Peninsula

Egypt's Prime Minister Dr. Hisham Qandil and Orascom Development's chairman
Samih O. Sawiris yesterday successfully reopened the marina of Taba
Heights, an Orascom Development destination located on the Sinai Peninsula
featuring six hotels with 2,365 rooms. The marina, a revitalising element
for Taba Heights, allows guests to visit Jordan and the ancient city of
Petra, one of the most popular tourist attractions in the region.

Altdorf/Cairo, 30 September 2012 - Orascom Development Holding AG (Orascom
Development) yesterday celebrated the successful reopening of Taba Heights
Marina, after its temporary closing during the political events in the
Middle East and North Africa in 2011. The ceremony was attended by top
Egyptian government officials including Dr. Hisham Qandil (Prime Minister),
Hisham Zaazou (Minister of Tourism), Khaled Foda (Governor of South Sinai),
and Dr. Mohamed Rashad El-Meteiny (Minister of Transport), as well as
Orascom Development representatives including Chairman Samih O. Sawiris and
Hamza Selim (Chief Destination Management Officer).

Taba Heights Marina is part of Taba Heights, Orascom Development's second
self-sufficient resort town, located on the Sinai Peninsula. Spanning an
area of 4.3 million sqm, Taba Heights features six operating hotels with
2,365 rooms. The marina was granted an International Tourist Marina license
in 2005, and is the first legitimate port of entry in the region.
Currently, sea trips across the Gulf allow guests an opportunity to visit
Jordan (30 minutes travel time) and the ancient city of Petra, a UNESCO
world heritage and one of the most popular tourist attractions in Jordan.

Hesham Zaazou, Egypt's recently appointed Minister of Tourism, stated that
'Taba Heights Marina is essential in revitalizing tourism between Egypt and
Jordan, accounting for a total of 350,000 tourist arrivals to Egypt
annually. Reopening it actively demonstrates the effective collaboration
between various ministries towards the collective goal of supporting the
recovery of tourism.' He added that the marina's reopening is testimony of
the region's safety and security, an essential prerequisite for the
recovery of tourism. 'Taba Heights Marina is an economic lifeline for
thousands of Egyptians living in Sinai, and its reopening contributes
substantially to their livelihood and prosperity; a definitive government
priority,' he commented further. The Minister highlighted that the marina
will have a great added value for the planned joint Arab tourism marketing
efforts and will benefit tourism flow from Asia and the USA in the long
run.

Samih O. Sawiris commented that 'Orascom Development is proud to be a
partner supporting tourism in Egypt, especially in the region of the Sinai
Peninsula which not only has immense symbolic national value but tremendous
income generating potential.' He further added that 'the government's
tremendous support to successfully reopen Taba Heights Marina demonstrates
the collective commitment to support tourism in Egypt'.

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Information and Explaination of the Issuer to this News:

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), with primary focus on touristic destinations
and budget housing. 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.

Investor Relations Contacts
Till Leisner
Head of Group Controlling & Investor Relations
Tel: +41 41 874 88 07
Email: Email: ir@orascomdh.com

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

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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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