Orascom Inv Regulatory News (OIH)

Orascom Telecom Media and Technology Holding S.A.E.

Established pursuant to the provisions of Law 95/1992

Head Office: twenty Sixth floor, Nile City Towers, South Tower,

2005 A Croniche El Nile, Ramlet Beaulac, 11221, Cairo, Egypt

Authorized Capital: EGP 22 Billion

Issued Capital:

EGP: 2,203,190,060.40

(Fully paid)

Number of Issued Shares:

5,245,690,620

Summary of Board of Directors Resolutions

No: (6) of 2016

November 15, 2016

On Tuesday 15 November 2016, at 2:30pm, the Board of Directors of the company convened under the chairmanship of Mr. Youssef Fayez Shoukry Moawad - Executive Board Member for Financial and Administrative Affairs, upon the invitation of Eng. Naguib Onsy Naguib Sawiris - Executive Chairman and Managing Director, the meeting was attended by the members of the board members, namely:

· Mr. Youssef Fayez Shoukry Moawad - Executive Board Member for Financial and Administrative Affairs in his own capacity and on behalf Eng. Naguib Onsy Naguib Sawiris - Executive Chairman and Managing Director;

· Mr. Ayman Mohamed El Tayeb Soliman - Non-Executive Expert Board Member in his own capacity and on behalf of H.E. Ambassador/ Mohamed Ibrahim Mahmoud Shaker Mohamed - Non-Executive Board Member;

· Dr. Sameh Youssef El Torgoman - Non-Executive Expert Board Member in his own capacity and on behalf Eng. Khaled Galal Guirgis Bichara - Non-Executive Board Member;

· Mr. Ashraf Abdel Tawab abdel Razak Salman - Non-Executive Expert Board Member.

Mss. Mennat Allah Medhat Mohamed was appointed as Secretary of the meeting.

Eng. Tamer Mokhtar El Mahdi - Deputy CEO of the company and Mr. Wael Adel - Finance Senior Director of the company attended the meeting.

Having reviewed and deliberated on the agenda, the Board of Directors has resolved the following:

Fist resolution: The Board of Directors unanimously approved the Audit Committee's report on the standalone and consolidated financial statements for the financial period starting at 1/1/2016 and ending at 30/9/2016, which were prepared in accordance with the Egyptian and International accounting standards.

Second resolution: The Board of Directors unanimously approved the report of the company's Auditor on the standalone and consolidated financial statements for the financial period starting at 1/1/2016 and ending at 30/9/2016, which were prepared in accordance with the Egyptian and International accounting standards.

Third Resolution: The Board of Directors unanimously ratified the Board of Directors' report on the standalone and consolidated financial statements for the financial period starting at 1/1/2016 and ending at 30/9/2016, which were prepared in accordance with the Egyptian and International accounting standards as well as the outcome of the business for such period.

Fourth resolution: The Board of Directors unanimously ratified the standalone and consolidated financial statements for the financial period starting at 1/1/2016 and ending at 30/9/2016, which were prepared in accordance with the Egyptian and international accounting standards as well as the outcome of the business for such period.

Fifth resolution: The Board of Directors unanimously approved the sale of a number of shares owned by Orascom Telecom Media and Technology Holding S.A.E. representing a percentage that is not below 5% and does not exceed 10% of the shares owned by Orascom Telecom Media and Technology Holding S.A.E. and the delegation of Eng. Naguib Onsi Naguib Sawiris, Executive Chairman and Managing Director Mr. Youssef Fayez Shoukry Mouawad, Executive Board Member for Financial and Administrative Affairs, jointly or severally, to undertake all necessary actions and sign all agreements and documents that may be required for, related to or resulting from the consummating the sale, and to sign, on the Company's behalf, all documents, contracts, applications, notices, forms, and orders before any governmental authority or otherwise, including but not limited to, the Egyptian Exchange, the Egyptian Financial Supervisory Authority, the Public Notary and the banks, that may be required to execute and consummate the purchase of the shares and to delegate others in all or part of the above.

The Board of Directors delegated Mr. Oussama Daniel Nassif, Mr. Ibrahim Aly Ibrahim, Mr. Ashraf Zaki El Ibrachy, Mostafa Mohamed Gaber Mohamed El Shafei, Hatem Hasan Tolba Mohamed and Mostafa Saeed Ali Mohamed (advocates), to jointly or severally, take all the required procedures to ratify the minutes of this meeting at the Egyptian Financial Supervisory Authority, receive it and annotate all the afore-mentioned in the company's commercial register.

The meeting ended at 3:00 pm.

Head of Investor Relation

Marwan Mohamed Hussein