Orascom Development Holding AG

DGAP-Adhoc: Orascom Development Holding AG: Changes in the Executive Management Team

Orascom Development Holding AG  / Key word(s): Change of Personnel/Change of
Personnel

27.02.2014 17:00

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

Changes in the Executive Management Team

Altdorf/Cairo, 27 February 2014 - The Board of Directors of Orascom
Development Holding AG (Orascom Development) announces that it came to a
joint decision with the CEO - Dr. Gerhard Niesslein - to end his employment
effective end of February 2014.

The founder, Chairman and former long-time CEO of Orascom Development -
Samih O. Sawiris - will take over the responsibilities of the CEO ad
interim.

The Board of Directors wishes to thank Dr. Niesslein for his contribution
over the last years and wish him all the best in his future endeavours.



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 eight
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro
and United Kingdom), with primary focus on touristic destinations and
budget housing. The Group currently operates eight destinations; four in
Egypt El Gouna, Taba Heights, Haram City and Makadi, The Cove in United
Arab Emirates , Jebel Sifah and Salalah Beach in Oman and Andermatt in
Switzerland. 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
Sara El-Gawahergy
Investor Relations Director
Tel: +0100 218 5651
Email: ir@orascomdh.com

Disclaimer & Cautionary Statement
The information contained in this e-mail, its attachment and in any link to
our website indicated herein is not for use within any country or
jurisdiction or by any persons where such use would constitute a violation
of law. If this applies to you, you are not authorized to access or use any
such information. Certain statements in this e-mail and the attached news
release may be forward-looking statements, including, but not limited to,
statements that are predications of or indicate future events, trends,
plans or objectives. Forward-looking statements include statements
regarding our targeted profit improvement, return on equity targets,
expense reductions, pricing conditions, dividend policy and underwriting
claims improvements. Undue reliance should not be placed on such statements
because, by their nature, they are subject to known and unknown risks and
uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding AG's plans and objectives to differ
materially from those expressed or implied in the forward looking
statements (or from past results). Factors such as (i) general economic
conditions and competitive factors, particularly in our key markets; (ii)
performance of financial markets; (iii) levels of interest rates and
currency exchange rates; and (vii) changes in laws and regulations and in
the policies of regulators may have a direct bearing on Orascom Development
Holding AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
undertakes no obligation to publicly update or revise any of these
forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that
interim results are not necessarily indicative of the full-year results.
Persons requiring advice should consult an independent adviser.


27.02.2014 News transmitted by EQS Schweiz AG.
The issuer is responsible for the contents of the release.

EquityStory publishes regulatory releases, media releases on the capital
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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
Valor:                  A0NJ37
Listed:                 SIX

End of Announcement                             EQS Group News-Service

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