OrascomTelecom Hldgs - OTH Announces $1.6bn Tender

RNS Number:5420S
Orascom Telecom Holdings S.A.E
17 April 2008

Orascom Telecom announces US$1.6 billion
tender offer for its own shares

Cairo, April 17th, 2008: Orascom Telecom Holding S.A.E. ("OTH") announced today
the commencement of a cash tender offer pursuant to which it offers to purchase
up to 106 million of its ordinary shares (including ordinary shares represented
by global depositary shares ("GDSs")) at a purchase price of EGP83 per ordinary
share (i.e. approximately US$76.5 per GDS at the current EGP/US$ rate of 5.425)
for a total of EGP8,798 million (approximately US$1,622 million). The tender
offer is being made pursuant to a Purchase Offer announced by CASE on April 17,
2008, and in the case of the GDSs, as supplemented by the Supplemental
Information Document dated April 17, 2008, which together set forth the complete
terms of the tender offer.

The tender offer is currently scheduled to expire at 17:00, New York City time,
on Wednesday May 14, 2008, unless the tender offer is extended. Should the
number of shares (including shares represented by GDSs), that are validly
tendered and not withdrawn, exceed the maximum number of shares under the offer,
the tendered shares (including Ordinary Shares represented by GDSs) will be
purchased by Orascom Telecom on a pro rata, or proportional, basis according to
the number of securities tendered by the tendering Holders.

The International Tender Agent and Information Agent for the tender offer is The
Bank of New York. Copies of the Supplemental Information Document can be
obtained from the Information Agent.

This press release is not an offer to purchase, a solicitation of an offer to
purchase, or a solicitation of an offer to sell securities. The offer and
solicitation are only made pursuant to the Purchase Offer and the Supplemental
Information Document, dated April 17, 2008 (as each may be amended from time to
time).

Aldo Mareuse, Group CFO of OTH commented: "As previously announced OTH financial
policy is to optimise its capital structure by maintaining an adequate leverage
ratio (Net Debt/EBITDA of around 2.0x) and to maximise return to shareholders
while ensuring good cash flow stability for debt holders. This significant buy
back through a tender offer reflects this policy and also demonstrates OTH
management confidence in its business prospects and the strength of OTH cash
flows. We believe this transaction will be accretive from 2009 onwards from an
Earnings Per Share perspective."

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About Orascom Telecom

Orascom Telecom is a leading international telecommunications company operating
GSM networks in six high growth markets in the Middle East, Africa and South
Asia, having a total population under license of approximately 430 million with
an average mobile telephony penetration of approximately 40% as at December 31st
2007. Orascom Telecom operates GSM networks in Algeria ("OTA"), Pakistan
("Mobilink"), Egypt ("Mobinil"), Tunisia ("Tunisiana"), Bangladesh
("Banglalink"), Zimbabwe ("Telecel Zimbabwe"), and has acquired in early 2008 a
license to operate mobile services in North Korea. Orascom Telecom had reached
over 70 million subscribers as at December 2007.

Orascom Telecom is traded on the Cairo & Alexandria Stock Exchange under the
symbol (ORTE.CA, ORAT EY), and on the London Stock Exchange its GDR is traded
under the symbol (ORTEq.L, OTLD LI).

For further information:

Orascom Telecom Holding S.A.E

Investor Relations

Investor Relations Dept.: OTInvestorrelations@otelecom.com

Visit our website: www.orascomtelecom.com

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