Telecom Egypt S Regulatory News (TEEG)

22 Feb 2006 07:01

Telecom Egypt S.A.E22 February 2006 Telecom Egypt's joint venture launches commercial services in Algeria Cairo, 22nd February, 2006: Telecom Egypt (TE) (Ticker: ETEL.CA; TEEG.LN),announced today that Consortium Algerien des Telecommunications s.p.a. (CAT) ajoint venture between Telecom Egypt and Orascom Telecom Holding, launched todayfixed line services in the Algerian capital, Algiers under the brand name "Lacom". CAT's intention is to then extend coverage outside of Algiers while alsointroducing other innovative telecommunications services to the Algerian marketduring the coming years. In May 2005, CAT was awarded a 15 year renewable license to operate fixed linelocal, national and international services by the Algerian Post andTelecommunications Regulatory authority for US$ 65 million. Since then it hasembarked on deployment of state of the art network infrastructure to cater forthe delivery of Next Generation Network services for the Algerian Market. Mr. Akil Beshir, Chairman of Telecom Egypt, commented: "Algeria is an important part of Telecom Egypt's regional expansion strategy andwe believe the market there represents an exciting opportunity. Algeria's lowfixed line teledensity and fast growing economy makes it an attractive marketfor telecommunications services. Historically, the Algerian fixed line markethas been underserved and unexploited representing a potential for growth aheadof us." Mr. Emad Elazhary, Chief Executive Officer of CAT commented on the launch: "Algeria is a very promising market for fixed line services, we have veryaggressive plans to introduce new services to the market and we are confidentthat we can deliver the quality of services that all Algerians deserve". - Ends - For further information: Investor Relations Contacts Tarek Tantawy, CFA General Manager - Investor Relations, Investment & Financial Planning Telephone: +202 5788826 Fax: +202 5789314 Eman Anis Assistant Manager - Investor Relations Telephone: +202 5788787 Fax: +202 5789314 E-mail: investor.relations@telecomegypt.com.eg Notes to Editors: About Telecom Egypt Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started itsoperations in 1854 with the first telegraph line in Egypt. Then it wascorporatized in 1998 to replace the former Arab Republic of Egypt NationalTelecommunication Organization (ARENTO). The Company is the largest provider offixed-line services in the Middle East and Africa with more than 10.3 millionsubscribers as at the end of September 2005 representing a teledensity of 14.5%. TE provides retail telecommunication services including access, local, longdistance and international voice, Internet and data, and other services. Thecompany also provides wholesale services including bandwidth capacity leasing toISPs, and national and international interconnection services. Telecom Egypt'sservices also include the provision of narrowband and broadband internet accessthrough its subsidiary TE Data. TE Data has current operations in Egypt, Jordan,and Dubai and has ambitious plans in other parts of the MENA region. Telecom Egypt's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on theCairo and Alexandria Stock Exchanges and the London Stock Exchange. About Orascom Telecom Holding Orascom Telecom Holding S.A.E. ("Orascom Telecom" or "OTH") is a leadinginternational telecommunications company operating in seven emerging markets inthe Middle East, Africa and South Asia, having a total population under licenseof approximately 460 million with an average mobile telephony penetration ofapproximately 11.5%. Orascom Telecom operates GSM networks in Algeria ("Djezzy"), Pakistan ("Mobilink"), Egypt ("MobiNil"), Tunisia ("Tunisiana"), Iraq ("IraQna"), Bangladesh ("Banglalink"), and Zimbabwe ("Telecel Zimbabwe"). OrascomTelecom had approximately 30 million subscribers as of December 2005. In December of 2005, OTH acquired 19.3% of Hutchison TelecommunicationsInternational Limited, a leading global provider of telecommunication services,operating in eight emerging markets. The total population under license of thetwo groups together is approximately two billion. Orascom Telecom is traded onthe Cairo & Alexandria Stock Exchange under the symbol (ORTE.CA, ORAT EY), andon the London Stock Exchange its GDR is traded under the symbol (ORTEq.L, OTLDLI). This information is provided by RNS The company news service from the London Stock Exchange