Orascom Development Holding AG

DGAP-Adhoc: Orascom Development Holding AG: Reorganisation of the Executive Management Team

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

10.03.2014 07:00

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

Reorganisation of the Executive Management Team

Altdorf/Cairo, 10 March 2014 - The Board of Directors of Orascom
Development Holding AG (Orascom Development) announces changes in the
Executive Management. As a result of this change, Mr. Mahmoud Zuaiter will
move to become Managing Director of Jordan Projects for Tourism Development
(JPTD); the company responsible for developing Tala Bay project in Jordan.
JPTD is a listed company on the Amman Stock Exchange in which the Group
holds an important minority shareholding stake of 15.64%.  As a result of
this new assignment, Mr. Zuaiter will step down from the Group's Executive
Management to fully focus on his new role. This change will be effective as
of March 1st 2014.

A key focus of his new role is to take JPTD to the next level in terms of
it developments, institutionalizing and streamlining the business processes
of its portfolio and leading its disciplined expansion. The Board of
Orascom Development Holding and JPTD are highly confident that Mahmoud will
add a lot of value in his new role given his vast experience and knowhow of
the organization and its business model.

Mahmoud Zuaiter; has been  since 2004 and has since held several strategic
roles. He was the CFO of the Hotels Segment, Group CFO (leading the listing
on the SIX in 2008)  and recently the CEO of International Hotel Holding
(formerly Orascom Hotel Holding). Tala Bay was the Group's first regional
roll-out of its model outside Egypt. The integrated tourism destination is
being built upon a man-made lagoon and is one of the largest tourism
destinations in the country covering an area of approximately 2.7 million

Abdelhamid Abouyoussef, managing partner of the recently established joint
venture Orascom Hotels Management, will take over the responsibilities of
Mr. Zuaiter and will become a member of the Group's Executive Management.

 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

Investor Relations Contacts
Sara El-Gawahergy
Investor Relations Director
Tel: +0100 218 5651
Email: ir@orascomdh.com

Contact Media Relations

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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.

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Language:               English
Company:                Orascom Development Holding AG
                        Gotthardstraße 12
                        6460 Altdorf
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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