14 August 2008    

Different Experience Set Required to Take ERC through its Second Decade Cairo, August 14, 2008 10:00 hrs Cairo time (08:00 hrs GMT) Egyptian Resorts Company (EGX: EGTS.CA), Egypt’s largest master developer of Mega Resort Communities summarized today the management restructuring that took place over the first two quarters of the year. Mr. Richard Turner took over the Chief Executive Officer role from Dr. Engineer Hussein Abu Seida, who led ERC through its impressive growth over the last decade. Mr. Turner is a 20‐year veteran of the largest and most comprehensive resort developments in 27 countries, developing and managing fully‐integrated developments for private, public, and institutional investors. Mr. Turner has been a key advisor to the former Prime Minister of Singapore on real estate in developing markets and continues to advise Government Ministers for development and technology in Asia and APEC in general. Previous roles held by Mr. Turner in the industry include Chief Executive Officer – Graystone Group of Companies, Managing Director – Global Group and Unique Developments International, Managing Director – Royal Developments International, General Manager and Chief Operating Officer – The Wuthelum Group Singapore, and Executive Director – American Clubs International. Mr. Turner speaks 5 languages – English, French, Malay, Indonesian, and Mandarin. In addition, Mr. Turner was a professional athlete having competed on the ATP tour from 1985 to 1988 with 19 professional titles. Mr. Aaron Jeanneret has been appointed General Manager and Director of Site Operations in the Sahl Hasheesh International Resort Community. Mr. Jeanneret has delivered almost USD 1 billion worth of various residential, commercial and resort‐type developments in Australia. He holds academic degrees in Construction Management, Architecture, a Graduate in Building and Construction from the Australian Institute of Building, and is a Registered Class 1 Designer & Builder in Australia. Mr. Jeanneret held positions as Development Mana