Orascom Inv Regulatory News (OIH)

PRESS RELEASE

FOR IMMEDIATE RELEASE

18 March 2011

Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.Omega Insurance Holdings Limited("Omega" or the "Company")Statement Re Press CommentThe Directors of Omega have noted the recent press comment in relation to approaches to Omega. The Company confirms that since its announcement of 10 January 2011 it has received further approaches that may lead to an offer for the Company. The Directors will review these approaches in the context of the best interests of the business, the shareholders and staff.Discussions with the parties concerned are at an early stage and there is no certainty that an offer will be forthcoming, nor as to the terms of any such offer.A further announcement will be made when appropriate. -ENDS-

ContactsJohn O'MalleyKinmontTel: +44 (0)20 7087 9100 Ian SoanesCenkosTel: +44 (0)20 7397 8900 David Haggie / Juliet TilleyHaggie FinancialTel: +44 (0)20 7417 8989

Notes to EditorsOmega is incorporated and its registered office is in Bermuda. Accordingly, Omega is not subject to the provisions of The City Code on Takeovers and Mergers (the "Code"). However, the Company's Bye-laws adopt certain of the provisions of the Code including provisions dealing with compulsory takeover offers and shareholder treatment along the lines of the general principles as set out in the Code, which are to be administered at the discretion of the Board.