EQS-Adhoc

Orascom Development Holding AG: Khaled Bichara to become Chief Executive Officer of Orascom Development Holding (ODH), Accelero to provide advisory services, announcement of intention for capital increase

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG: Khaled Bichara to become Chief Executive
Officer of Orascom Development Holding (ODH), Accelero to provide advisory
services, announcement of intention for capital increase

30.11.2015 / 07:00
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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Press Release

Khaled Bichara to become Chief Executive Officer of Orascom Development
Holding (ODH), Accelero to provide advisory services, announcement of
intention for capital increase

Altdorf/Cairo, 30 November 2015 - The Board of Directors of Orascom
Development Holding AG (Orascom Development, ODH) has signed a six year
advisory agreement with Accelero Capital Management Company Limited
("Accelero Capital") whereby Accelero Capital will provide advisory
services to assist ODH in implementing an operational and financial
turn-around under the guidance of the Board of Directors and management of
ODH. The Board of Directors of ODH announces that it has appointed Mr.
Khaled Bichara as the new CEO effective 1 January 2016

Mr. Khaled Bichara, born 1971, is the CEO and Co-Founder of Accelero
Capital. He served as Group President and Chief Operating Officer of
VimpelCom Ltd ("VimpelCom"), Group Chief Executive Officer of Orascom
Telecom Holding S.A.E. ("OTH") as well as Chief Operating Officer of Wind
Telecomunicazioni S.p.A. ("Wind Italy"). He was also the co-founder,
Chairman and CEO of "LINKdotNET".

Mr. Samih O. Sawiris commented: "We are delighted to welcome Khaled Bichara
on board as CEO and Accelero Capital to assist the Board and the management
in ODH's turnaround journey. Accelero Capital, led by Khaled, has a
successful track record globally of strategic investments and operations.
Khaled is a proven leader who has wide experience and an excellent track
record of delivering results." Mr. Sawiris also expressed the Board's
confidence in Mr. Bichara.

"We are excited to be working closely with the creators of global touristic
landmarks to help unlock the potential value of this great Group. We are
confident that our combined experience will enable us to optimize the value
of ODH's assets" said Mr. Bichara. With the appointment of Mr. Bichara as
CEO, who will assume a non-executive role at Accelero Capital, the interim
period of Mr. Sawiris and Dr. Eskandar Tooma, interim Chief Financial
Officer, comes to an end. Mr. Sawiris will be able to focus on his role as
Chairman of the Board. The management will present to the Board candidates