2020

03.06.2020 – Orascom Development Holding AG

Orascom Development Holding AG: Orascom Development signs it's third School Development Agreement in O West, continuing to deliver on its land monetization strategy and securing a total of c. CHF 32.2 million of cash inflows from these agreements to date

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
Orascom Development Holding AG: Orascom Development signs it's third School
Development Agreement in O West, continuing to deliver on its land
monetization strategy and securing a total of c. CHF 32.2 million of cash
inflows from these agreements to date

03-Jun-2020 / 18:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Orascom Development signs it's third School Development Agreement in O West,
continuing to deliver on its land monetization strategy and securing a total
of c. CHF 32.2 million of cash inflows from these agreements to date.

Altdorf, 3 June 2020 - Orascom Development Holding (ODH) continues to
deliver on its accelerated land bank monetization plan and signs its third
School Development Agreement with Nermine Ismail School (NIS) to develop two
K-12 international school in O West, Egypt.

Under the agreement, NIS will develop two new schools and "Advanced
Education for the Establishment Management & Ownership of Educational
Facilities" will take over the management and oversight of the schools,
which are expected to open their doors by September 2022, a year before the
delivery of the first real estate units in O West. The two schools will
accommodate up to 1,500 students each, with high quality education.

NIS was established in 1999. It owns and operates nine schools around Egypt
offering multiple education tracks, including British, American, and French
curriculums, and serves more than 9,000 students supported by more than
2,300 staff members.

The educational zone transactions that we managed to successfully conclude
in O West resulted in securing a total of c. CHF 32.2 million of cash
inflows to ODH. The rapid execution of land monetization will help the Group
to unlock its hidden land bank value to the market and will provide
additional cash for speeding up the development of its destinations.

About Orascom Development Holding (ODH):

Orascom Development Holding (ODH) 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
seven jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro and
United Kingdom), with primary focus on touristic destinations. The Group
currently operates nine destinations: four in Egypt (El Gouna, Taba Heights,
Fayoum and Makadi Heights), The Cove in the United Arab Emirates, Jebel
Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro and Andermatt in
Switzerland. The shares of ODH are listed on the SIX Swiss Exchange. ODH
also launched O West, the latest addition to its portfolio and its first
project in Cairo, Egypt, located in the 6th of October City.

Contact for Investors:
Sara El Gawahergy
Head of Investor Relations & Strategic Projects Management
Tel: +202 246 18961
Tel: +41 418 74 17 11
Mob: +41 79 156 78 49
Email: ir@orascomdh.com

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch

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Undue reliance should not be placed on such statements because, by their
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Development Holding'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
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(vii) changes in laws and regulations and in the policies of regulators may
have a direct bearing on Orascom Development Holding's results of operations
and on whether Orascom Development Holding will achieve its targets. Orascom
Development Holding undertakes no obligation to publicly update or revise
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Persons requiring advice should consult an independent adviser


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