SOURCE: Orascom Construction Industries

December 11, 2007 06:25 ET

Orascom Construction Industries announces OCI Sorouh Real Estate LOI

Cairo--(Marketwire - December 11, 2007) -

                                                         NEWS RELEASE

OCI Receives Letter of Intent for US$ 41 million

Cairo, Egypt - 11 December 2007:  Orascom Construction Industries ("OCI")
announced today that it has received a letter of intent from Sorouh Real Estate,
Abu Dhabi's leading real estate company, for the award of a contract valued at
US$ 41 million for the execution of infrastructure and landscaping works on the
new Saraya Development real estate project in Abu Dhabi.

The contract is part of an initial phase of awards on this new US$ 1 billion
mixed use real estate development project encompassing the construction of 30
towers with views of the Gulf. (For additional information visit

For additional information CONTACT:

OCI Investor Relations Department:

Hassan H. Badrawi

Omar Darwazah

Ahmed Sultan

Tel:  +202 2461 1039/1036/0727/0914
Fax: +202 2461 9409

Brunswick Group LLP +44 20 7404 5959

For additional information on OCI:

Orascom Construction Industries (OCI)
Nile City Towers - South Tower
2005A Corniche El Nil, Cairo, Egypt
OCI stock symbols: OCIC.CA / ORCI EY / OCICqL / ORSD

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