SOURCE: Orascom Construction Industries

November 07, 2005 02:01 ET

Orascom Construction Industries Launches US$ 300 million 5-year Revolver Debut Facility in the Euroloan Market

Cairo -- (MARKET WIRE) -- November 7, 2005 --

                                   NEWS RELEASE

FOR IMMEDIATE RELEASE

OCI Launches US$ 300 million 5-year Revolver Debut Facility in the Euroloan Market

OCI appoints Citigroup, BNP Paribas Le Caire, Calyon Bank Egypt, HSBC Bank Middle East Limited, National Societe Generale Bank and National Bank of Egypt (UK) Ltd as Mandated Lead Arrangers for its US$ 300 million 5-year revolver debut facility in the Euroloan market.

Cairo, Egypt - 6 November 2005: Orascom Construction Industries (OCI) announced today that it has appointed Citigroup, BNP Paribas Le Caire, Calyon Bank Egypt, HSBC Bank Middle East Limited, National Societe Generale Bank (NSGB) and National Bank of Egypt (UK) Ltd as Mandated Lead Arrangers for its US$ 300 million 5-year revolver debut facility in the Euroloan market. Citigroup has been appointed as the sole Book Runner. OCI has established a wholly owned subsidiary in the British Virgin Islands to act as its borrowing arm. The new subsidiary, OCI Finance BVI, will act as the obligor for the proposed facility. The facility will benefit from an unconditional guarantee from OCI. The revolver carries a margin of 80 bps per annum.

OCI Chief Executive Officer, Nassef Sawiris commented "We are delighted to appoint a very strong group of banks comprising our top international relationship banks as Mandated Lead Arrangers for our debut Euroloan facility. As we continue to grow our international operations, we expect to become a regular issuer in the international debt markets and look forward to working with our existing and prospective lenders."

The general syndication is expected to be launched shortly with a target closing date of November-end 2005.

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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 and Algeria which have a combined annual production capacity of 13.5 million tons. Our new investments in Pakistan, northern Iraq, Nigeria, Algeria, the United Arab Emirates and Spain will increase our annual cement production capacity to around 28 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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