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: (4) of 2016

10 August 2016

On Wednesday 10 August 2016, at 2:00pm, the Board of Directors of the company convened under the chairmanship of Mr. Naguib Onsy Naguib Sawiris - Executive Chairman and Managing Director, upon his invitation, the meeting was attended by the members of the board, namely:

· Eng. Naguib Onsy Naguib Sawiris - Executive Chairman and Managing Director;

· Mr. Youssef Fayez Shoukry Mouawad, Executive Board Member for Financial and Administrative Affairs in his own capacity and on behalf of H.E. Ambassador Mohamed Ibrahim Mahmoud Shaker Mohamed - Non executive Board Member;

· Eng. Khaled Galal Girgis Bishara - Non executive Board Member in his own capacity and on behalf of Mr. Iskandar Shalaby Naguib Rizk Shalaby - Non-Executive Board Member;

· Eng. Akil Bashir - Non-Executive Deputy Chairman in his own capacity and on behalf of Mr. Ayman Mohamed El Tayeb Soliman - Expert Board Member;

· Dr. Sameh Youssef El Torgoman - Non-Executive Expert Board Member;

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

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

Mr. Wael Adel - Finance Senior Director of the company also attended the meeting.

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

First 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 31/3/2016, 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 31/3/2016, 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 31/3/2016, 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 31/3/2016, 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 ratified the annual disclosure form for the correctional procedures to rectify the financial standards of the company for companies that its financial standards have decreased for two consecutive years.

Sixth resolution: The Board of Directors unanimously approved appointing Mr. Mohamed Naguib Ibrahim Afifi El Mallah as the Internal Audit Manager of the company and the monetary compensation for such position.

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, undertake all the required procedures to ratify the minutes of this meeting at the Egyptian Financial Supervisory Authority and receive it.

The meeting ended at 2:30 pm.

Head of Investor Relation

Marwan Mohamed Hussein