SOURCE: Orascom Construction Industries

May 09, 2006 11:18 ET

Orascom Construction Industries announces Dividend Declaration

Cairo -- (MARKET WIRE) -- May 9, 2006 --


                                 NEWS RELEASE



OCI to Issue Cash Dividend for 2005
     
-    Shareholders approve a EGP 2 cash dividend in the Annual General Meeting
-    OCI receives subscriptions for 99.3% of rights issue shares


Cairo, Egypt - 8 May 2006:  Orascom Construction Industries announced that
shareholders at the Annual General Meeting (AGM) held on 4 May 2006 approved the
Board of Directors' resolution to distribute a EGP 2 per ordinary share cash
dividend based on 2005 results totaling LE 404 million to shareholders, a 136%
increase over last year.  Dividend distribution will take place following
completion of all relevant regulatory approvals.  Shareholders at the meeting
also approved all the proposed resolutions including the Board of Directors'
report, the auditor's report for OCI's unconsolidated financial statements and
the unconsolidated financial statements for 2005.

The cash dividend distribution will include all the newly issued shares
resulting from the capital increase. OCI recently conducted a rights issue-based
capital increase offering a total of EGP 2.3 billion worth of new shares at the
price of EGP 201 per share. A total of 11.42 million shares representing 99.3%
of offered shares were subscribed by the close of subscription. Regulatory
approvals are currently underway to register the new shares. The proceeds of the
rights issue will finance new investments in core businesses in several key
emerging markets including Egypt, Algeria and Turkey. OCI Chief Executive
Officer, Nassef Sawiris commented "we are pleased with the subscription results
which reflect our shareholders' confidence in the Company's growth story and
investment strategy."

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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, Turkey and Spain which have a
combined annual production capacity of 17 million tons.  Our new investments in
Egypt, Pakistan, northern Iraq, Turkey, Nigeria, Algeria, and the United Arab
Emirates 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. OCI
also invests in natural gas-based industries and infrastructure concessions.

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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