Press Release

Altdorf/Cairo, 19 September 2011

Orascom Development Holding AG (Orascom Development) announces that its first hotel in the Sultanate of Oman has been opened last weekend. The Sifawy Boutique Hotel in Jebel Sifah offers 55 rooms and suites and aims to become one of the best 4 star hotels in Oman in terms of quality and service. Jebel Sifah is one of three destinations in Oman currently under development by Orascom Development and its local partners. It is planned to develop Jebel Sifah into a leisure destination covering an area of more 6.2 million square meters and offering five 4 and 5 star hotels, shopping complexes, restaurants, a marina and a golf course. Jebel Sifah and the Sifawy Boutique Hotel are located just 45 km away from Muscat and 65 km from the international airport. The distinctive appeal of Jebel Sifah as a destination lies in it being a beckoning getaway with close proximity to the capital city, accessible in less than an hour’s drive. Jebel Sifah is a scenic destination fringed by sandy white beaches and turquoise waters of the Arabian Sea with a backdrop of the majestic Hajjar mountain range.

About the Group
Orascom Development Holding AG (Orascom Development) is a leading developer of fully integrated towns that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development’s diversified portfolio of projects is spread over nine jurisdictions, with primary focus on touristic towns and recently affordable housing.

Orascom Touristic Establishments (OTE) was established in 1989 setting the first step in building the Group’s track record in the development of integrated towns. After some name changes and reorganization, the main business was held under Orascom Hotels & Development (OHD). Since the settlement of the public exchange offer by Orascom Development for OHD, Orascom Development became the new parent of OHD. Orascom Development has a dual listing, with a primary listing on the main board of the SIX Swiss Exchange (ISIN: CH0038285679) and a secondary listing on the EGX Egyptian Exchange (ISIN: EGG676K1D011). In December 2009, the Group modified its secondary listing on the EGX. While the Group’s shares had previously been trading on both the SIX and the EGX in Swiss Francs, Orascom Development at that time procured the issuance and listing of Egyptian Depositary Receipts (EDRs; each EDR representing 1/20 of the Group’s share) which are currently trading on the EGX in Egyptian pounds. The objective of this modification is to improve trading and liquidity on the EGX.

Today, Orascom Development operates in nine jurisdictions (Egypt, Jordan, UAE, Oman, Switzerland, Morocco, United Kingdom, Montenegro and Romania) and is continuously seeking development opportunities in untapped yet attractive locations all over the world. The Group has four existing projects: El Gouna, the flagship project, a fully-fledged town on the Red Sea coast (Egypt). Taba Heights, on the Sinai Peninsula (Egypt), is the Group’s second tourism destination following El Gouna’s business model. The Cove (Ras Al Khaimah, UAE) is the Group’s first development experience outside Egypt. Haram City, an integrated town dedicated to affordable housing in Egypt, catering for the mass population.

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

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Orascom Development Holding AG Swiss Media Office

Philippe Blangey

Tel: +41 41 874 17 11

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