08 February 2011       Download

Egyptian Resorts Company (EGX: EGTS.CA), Egypt’s largest master developer of mega resort cities, resumed normal operations on Sunday, February 6, 2011, at its Cairo headquarters in the wake of disruptions stemming from recent events in Egypt. “I am pleased to note that we have passed through the challenges of the past week intact,” noted ERC Chief Executive Officer Mohamed Kamel. “Our entire staff is safe and back at work. Moreover, we have recorded no damage to our assets nationwide, and I note that operations continued at Sahl Hasheesh, our flagship resort city on the Red Sea coast, undisturbed by civil unrest in other major urban centers. “Whatever immediate challenges businesses in Egypt may face, Egyptian Resorts Company’s management team and Board of Directors are resolute in their belief not just in the fundamentals of our business model, but in the long-term outlook for the Egyptian economy,” Kamel added. Project planning for Sawari, ERC’s flagship marina development at Sahl Hasheesh, and Phase III of Sahl Hasheesh International Resort City continue apace. “We are particularly gratified to have received such a tremendous outpouring of support from our shareholders in the past days,” noted Abu-Bakr Makhlouf, Head of Investor Relations at ERC. “We remain committed to the launch of our global awareness campaign, which began in January with initial placements in leading tourism industry publications and global magazines including National Geographic Traveler. Furthermore, our road shows and investor conferences schedule for the year remains unchanged as investors affirm their interest in ERC. Senior management looks forward to face-to-face meetings with current and prospective shareholders alike to discuss ERC’s unique business model and supremely undervalued stock despite recent events, and the long-term outlook for our industry.” —ENDS— About ERC Egyptian Resorts Company S.A.E. (EGX: EGTS.CA) is a master developer of international standard resort communities on a fully-integrated management basis. The