Orascom Development Holding AG

DGAP-Adhoc: Orascom Development Holding AG: Orascom Development appoints new Country CEO of Oman and Head of Destination Management Egypt

Orascom Development Holding AG  / Key word(s): Restructure of Company

11.06.2013 17:45

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

Orascom Development appoints new Country CEO of Oman and Head of
Destination Management Egypt

Effective immediately Hamza Selim, currently Chief Destination Management
Officer, has been appointed as new CEO of Muriya, Orascom Development's
subsidiary in Oman. The assignment underlines the Group's intention to
expand its operations in Oman in the next couple of years. As a result of
the change, Mr. Selim resigns from the Executive Management of Orascom
Development. Moreover Amin Serag, since eight years with the Group, has
been appointed Head of Destination Management Egypt to strengthen the local
management team.

Altdorf/Cairo, 11 June 2013 ( the current Chief Destination Management
Officer of Orascom Development Holding AG (Orascom Development), Hamza
Selim, has been appointed CEO of Muriya, the Group's subsidiary in the
Sultanate of Oman.

Hamza Selim joined Orascom Development in 2005. In his most recent position
as Segment Head Destination Management he was responsible for the daily
business of the Group's operating towns in Egypt and Oman. Mr. Selim was a
former member of the Board of Directors of Muriya, the joint venture
between Orascom Development (70% stake) and Omran (30% stake), a
government-owned company that develops several tourism destinations in
Oman.

In his new position Mr. Selim will be in charge for the country
organization in Oman which includes the operating towns Jebel Sifah and
Salalah Beach as well as other development projects. As a result of his
appointment, Mr. Selim will resign from the Executive Management team of
Orascom Development.

Additionally, Amin Serag was appointed Head of Destination Management Egypt
which includes among others the towns El Gouna on the Red Sea and Taba
Heights on the Sinai Peninsula.
Mr. Serag remains head of Orascom Development and Management, a
wholly-owned subsidiary of Orascom Development that offers development and
management expertise for third-parties in addition to managing Makadi, one
of the Group's destinations located near Hurghada.

Amin Serag has 18 years of experience in the fields of Real Estate,
Construction, Maintenance, and Property Management and held several
executive positions in well-established and multi-national companies before
joining Orascom Development eight years ago.

 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.

Investor and Media Contact
Till Leisner
Head of Group Controlling & Investor Relations
Tel: +41 41 874 88 07
Email: ir@orascomdh.com or media@orascomdh.com


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Holding AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
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Persons requiring advice should consult an independent adviser.


11.06.2013 News transmitted by EQS Group AG.
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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

End of Announcement                             EquityStory News-Service

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