OTMT Announces the Termination of ORABANK in DPRK

Not for distribution directly or indirectly in the United States, Canada, Australia, Italy or Japan.

Orascom Telecom Media and Technology Announces the Termination of ORABANK in DPRK

Cairo, December 3rd, 2016: Orascom Telecom Media and Technology Holding S.A.E. ("OTMT") announced today that the board of directors of ORABANK; an indirectly majority owned subsidiary of OTMT, has taken a decision in its board of directors meeting convened on November 28th to start immediately the procedures of terminating the bank and officially advising the relevant authorities. As part of the termination process, all ORABANK cash and liquid assets (short term assets and liabilities), including but not limited to loans, will be transferred to a designated subsidiary of OTMT in a manner that complies with all current OFAC sanctions and regulations noting that the Loans will be transferred until maturity and no further banking operations will be carried out beyond this stage. All management operations related to the Real estate assets in DPRK will be transferred to an OTMT designated entity.ORACAP FAR EAST LIMITED's decision to terminate any banking operations in the Democratic Peoples' Republic of Korea, comes as an "Event of Force Majeure" as a result of the OFAC sanctions enforced on DPRK becoming increasingly complex and having delved in the territory of financial sanctions. In addition, the challenges in complying with overlapping financial sanctions, and the potentially significant penalties and personal liability for breaches of regulations, have compelled the company to revert to this measure.

OTMT's associate Koryolink will continue its telecommunications operations, while complying with the OFAC sanctions.

- END -

About OTMT

OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Lebanon, Pakistan and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, Media and Technology, and Cable businesses, having recently expanded its lines of operations into the new fields of Energy, Transport & Logistics, and Telecom infrastructure. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The Cable business focuses on the management of cable networks. The new field of Energy includes its operations in the power projects in Egypt.

Press contacts:

Orascom Telecom Media and Technology: Investor Relations

2005A Nile City Towers - South Tower, 26th Floor - Corniche El Nile,

Ramlet Beaulac, Cairo, Egypt

E-mail: otmtinvestorrelations@otmt.com

Disclaimer

The distribution of this press release may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.

This press release does not, and shall not, in any circumstances constitute a public offering of shares, or global depositary shares representing such shares, in OTMT ("OTMT Securities"), nor an invitation to the public in connection with any offer. The acquisition of the OTMT Securities may be subject to specific legal or regulatory restrictions in certain jurisdictions. OTMT takes no responsibility for any violation of any such restrictions by any person.