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: (3) of 2015

June 23, 2015

On Tuesday June 23, 2015, at 2 pm, OTMT Board of Directors convened under the chairmanship of Mr. Naguib Sawiris - Executive Chairman and Managing Director. The meeting was attended by the following Board Members:

· Eng. Naguib Sawiris - Executive Chairman and Managing Director

· Mr. Youssef Fayez Shoukry Moawad - Executive Board Member for Financial and Administrative Affairs

· Mr. Iskandar Shalaby Naguib Rizk Shalaby - Non-Executive Board Member

· H.E. Ambassador Mohamed Ibrahim Mahmoud Shaker Mohamed - Non-Executive Board Member

· Eng. Akil Bashir - Non-Executive Deputy Chairman

· Mr. Khaled Galal Guirgis Bichara - Non-Executive Board Member

· Mr. Ayman Mohamed El Tayeb Soliman - Expert Board Member

· Mr. Hany Abd El Gelil El Emary - Expert Board Member

Mr. Oussama Daniel Nassif was appointed as Secretary of the meeting.

In the beginning of the meeting, the Chairman clarified that the Board meeting and the ratification of the financial statements, supposed to be held on May 15, 2015, was postponed due to the delay of the negotiations with the North Korean side to solve the problems arising out of the transfer of dividends, the currency exchange rates and the operational problems that has recently emerged to make sure that the accounting treatment is made in accordance with the relevant accounting and corporate governance rules.

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 annual financial statements for the financial period starting at 1/1/2015 and ending at 31/3/2015, 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 annual financial statements for the financial period starting at 1/1/2015 and ending at 31/3/2015, 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 annual financial statements for the financial period starting at 1/1/2015 and ending at 31/3/2015, 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 1/1/2015 and ending at; 31/3/2015, which were prepared in accordance with the Egyptian and international accounting standards as well as the outcome of the business for such period.

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 pm.

Head of Investor Relation

Marwan Mohamed Hussein