SOURCE: Orascom Construction Industries

January 30, 2006 02:03 ET

Orascom Construction Industries Board Announces Intention to Raise Issued Capital

Cairo -- (MARKET WIRE) -- January 30, 2006 --

                                                         NEWS RELEASE


FOR IMMEDIATE RELEASE


OCI Board Announces Intention to Raise Issued Capital


OCI to announce a rights-issue based capital increase to co-finance new
investments and expansions

Cairo, Egypt - 29 January 2006: Orascom Construction Industries announced that following an Extraordinary General Meeting (EGM) convened last Wednesday to successfully approve the increase of OCI's authorized capital from EGP 2 billion to EGP 5 billion, the OCI Board of Directors has announced its intention to pursue an increase of the Company's paid-in capital by conducting a rights issue for its existing shareholders. The Company's Board will shortly announce the terms of such an offering following a final Board decision and relevant regulatory approvals. Mr. Sawiris commented "The Company is embarking on new growth-creative investment opportunities in its core business activities. A capital increase would bolster OCI's ability to finance these strategic investments."

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CONTACT: Hassan H. Badrawi
Investor Relations Director
Tel: +202 461 1039/1036
Email: hassan.badrawi@orascomci.com

Orascom Construction Industries

Orascom Construction Industries (OCI) is a leading cement producer and construction contractor active in emerging markets. As a cement producer, we own and operate cement plants in Egypt , Algeria and Turkey which have a combined annual production capacity of 14 million tons. Our new investments in Pakistan, northern Iraq, Nigeria, Algeria, the United Arab Emirates, Egypt and Spain will increase our annual production capacity to 30 million tons by 2007. As a contractor, we provide engineering procurement and construction services on industrial, commercial and infrastructure projects for private and public customers principally in the Middle East, Africa and Central Asia.


For additional information on OCI: www.orascomci.com


Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil, Cairo, Egypt
Tel: +202 461 1111, Fax: +202 461 9400,
OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD LI

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