CAIRO, EGYPT--(Marketwire - September 20, 2010) -

OCI Announces EGM Results and Approves Bond with a Rating of AA- by
Middle East Rating Investor Service (MERIS)

Orascom Construction Industries (OCI) announced today that all four
Extraordinary General Meeting resolutions have been approved by its
shareholders. OCI also announced that MERIS (Middle East Rating and
Investor Service) has assigned a National Scale Rating (NSR) of "AA-"
grade with a "Stable" outlook for both the newly approved bond and the
Company. An "AA" grade represents "Very Strong Creditworthiness" and
the  signs imply relative status within the category.

Resolution 1

Approved the issuance of a two-tranche bond in Egyptian pounds valued
at EGP 1.6 billion, divided into 16.5 million coupons with a nominal
value of EGP 100 each.

Resolution 2

Approved the PSN for the public and private placements of the Company's
fourth bond issuance.

Resolution 3

Approved the delegation of the Board of Directors-or their delegated
proxy-to finalize the certification of the PSN's for the bond's public
and private placements.

Resolution 4

Approved the amending of Articles 21 and 26 of the Company's Memorandum
of Association in accordance with regulatory changes.

OCI's fourth issued bond will have a maturity of five years and a fixed
interest rate of 11.75% to be paid semiannually. 90% of the bond will
be issued in the first tranche and will be offered in private placement
with the same terms and conditions as the public placement. The
remaining 10% will be offered to the public in the second tranche. The
proceeds from the approved bond will be used to finance general
corporate purposes, including, but not limited to, capital
expenditures, potential acquisitions and balance sheet restructuring.

MERIS believes that OCI's well-established position in both of its core
businesses of Engineering Procurement and Construction (EPC) and
nitrogen-based fertilizer production warrants the assigned rating.
MERIS further justifies the grade by highlighting OCI's operating
profitability and continued diversification of its business activities,
which have been driven by an experienced management with a moderate
appetite for risk.

Furthermore, MERIS believes that the bond's impact will be credit
neutral, largely due to OCI's well-structured debt maturity schedule
and strong financial metrics.

About Orascom Construction Industries

OCI is one of Egypt's largest corporations with projects and
investments across Europe, the Middle East and North Africa. The
company directly employs more than 86,000 people and has generated US$
3.8 billion in revenues and US$ 795 million in EBITDA for 2009. OCI
currently has two core business activities. The OCI Construction Group
is a leading construction contractor active in emerging markets with a
backlog of US$ 6.5 billion as at 31 March 2010. It primarily focuses on
infrastructure projects in Europe, the Middle East and Africa in
addition to industrial and high-end commercial projects. The OCI
Fertilizer Group is a strategic owner and operator of nitrogen
fertilizer plants in Egypt and Algeria with an international
distribution platform spanning Latin America, the United States, Europe
and Africa.

OCI recently announced a joint venture with Morgan Stanley to invest in
infrastructure assets in the Middle East and Africa. The proposed joint
venture is positioned to capitalize on Morgan Stanley Infrastructure's
investing expertise and its global reach as well OCI's local and
regional awareness of infrastructure needs.

For additional information contact:

OCI Investor Relations Department: For additional information on OCI:
Omar Darwazah              OCI stock symbols: OCIC.CA / ORCI
                                   EY /OCICqL / ORSD
Erika Wakid    Orascom Construction Industries(OCI)
                                   Nile City Towers - South Tower
Hassan Badrawi                     2005A Corniche El Nil
Director                           Cairo, Egypt

Tel:  2461 1036/0727/0914
Fax:  2461 9409

                    This information is provided by RNS
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