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

EQS Group-Ad-hoc: 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. 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, Lu?tica 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: [phone] Tel: [phone] Mob: [phone] Email: [e-mail] Contact for Media Relations: Philippe Blangey Partner Dynamics Group AG Tel: [phone] Email: [e-mail]   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'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'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 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 End of ad hoc announcement

Language:	English
Company:	Orascom Development Holding AG
	Gotthardstraße 12
	6460 Altdorf
	Switzerland
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.orascomdh.com
ISIN:	CH0038285679
Valor:	A0NJ37
Listed:	SIX Swiss Exchange
EQS News ID:	1062013

End of Announcement	EQS Group News Service

1062013  03-Jun-2020 CET/CEST