SOURCE: Orascom Construction Inds, S.A.E.

May 05, 2010 08:31 ET

OCI Confirms Board Approval of Plan to Issue Bond

Cairo--(Marketwire - May 5, 2010) -

                                   Cairo, Egypt / 5 May, 2010 15:30 PM

OCI Confirms Board Approval of Plan to Issue Bond

Orascom Construction Industries (OCI) confirmed today that its Board of
Directors has approved a plan to issue a bond valued at up to EGP 1.65
billion. The proceeds are expected to be used to finance general
corporate purposes including, but not limited to, capital expenditures,
potential acquisitions and balance sheet restructuring. The bond will
be structured to have a bullet repayment with a five year maturity
starting from the close of subscription. 

The final decision on the bond issuance is subject to shareholders'
approval during the upcoming Extraordinary General Meeting (EGM) and to
customary regulatory requirements. Further information will be made
available in due course. 

For additional information contact:

                             For additional information on OCI:
OCI Investor Relations

Omar Darwazah                
Email:                       OCI stock symbols: OCIC.CA / ORCI EY /  OCICqL / ORSD

Erika Wakid                  Orascom Construction Industries (OCI)
Email:                       Nile City Towers - South Tower    2005A Corniche El Nil
                             Cairo, Egypt
Hassan Badrawi

Tel: +202 2461 1036/0727/0917
Fax: +202 2461 9409

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