New Contract - Saudi Telecom

29 Aug 2006 07:02

Billing Services Group Limited29 August 2006 Saudi Telecom Selects BSG for Financial Clearing and Settlement Services BSG expands into the Middle East with new contract win LONDON - August 29, 2006 - BSG Clearing Solutions (BSG), a subsidiary of BillingServices Group Limited (AIM:BILL), a global leader in clearing and settlement,payment and financial risk management solutions for communications serviceproviders, today announced a new contract with Saudi Telecom, the largesttelecommunications company in the Middle East region. BSG will immediately beginsupplying financial clearing and settlement services to Saudi Telecom for its 12million mobile subscribers and over 370 international roaming partners. Under the agreement, BSG will provide Saudi Telecom with financial clearing andsettlement services including data loading and checking, invoice generation anddistribution, payable invoice receipt and reconciliation, exception handling anddispute resolution, payable/receivable position handling, banking and settlementand monthly cycle reporting, as well as comprehensive online reporting toolsthat offer clear process visibility. "We are delighted that Saudi Telecom has selected BSG. The Middle East is arapidly expanding market and we look forward to developing our operations inthis new territory with such a promising customer," said Atul Devani, CEO ofBSG's wireless services. About Saudi Telecom Co. Saudi Telecom Company (STC) was established on 2 May 1998 to take over thetelecommunications operations of the Kingdom of Saudi Arabia, previously managedby the Ministry of Post, Telephone and Telegraph (MOPTT). With a network ofapproximately 3.8 million fixed lines and over 11 million mobile subscribers,and 5 Gbps IP connectivity. STC is the largest telecommunication company in theMiddle East region and is currently the sole provider of telecommunicationservices in the Kingdom of Saudi Arabia. STC is currently the sole provider forInternational Internet Connectivity to all local ISPs, and is also one of theKingdom's leading Internet Service Providers with more than 1 millionsubscribers.The company's Headquarters are located at King Abdulaziz Telecom Complex inRiyadh and its 21,000 employees operate from 13 major district offices andnumerous customer service locations throughout the Kingdom. STC is 30% publiclyowned with the remaining 70% owned by the Government.STC has invested heavily in a technologically advanced digital network. Globalaccess is provided by STC via a terrestrial fiber network that covers almost allthe Kingdom of Saudi Arabia and extends to connect to all neighboring countries;via its active participation and ownership in all Submarine Cable Systemspassing in the region; and via satellite with direct route connectivity to morethan 80 countries worldwide. Three International Switching Centers in Riyadh,Jeddah and Dammam provide direct communications to more than 230 countriesworldwide. Detailed information about STC is available on its web site atwww.stc.com.sa. About BSG Clearing SolutionsBSG Clearing Solutions is a leading global provider of clearing and settlement,payment services, and financial risk management solutions for communicationsservice providers. The company processes over 20 billion transactions annuallyfor 750 of the world's largest communications companies throughout NorthAmerica, Europe and Asia. With a ubiquitous, scalable platform and an extensiveportfolio of clearinghouse services for fixed-line, wireless, Wi-Fi, andbroadband networks, BSG monetizes network transactions by facilitating thefinancial exchange of its customers' services. BSG meets the needs of today'scomplex network interconnections and anticipates the requirements of convergingtechnologies, allowing for rapid and reliable deployment. BSG Clearing Solutionsis an operating subsidiary of Billing Services Group Limited, which is publiclytraded on the London Stock Exchange (AIM) under the ticker symbol BILL. For moreinformation, visit www.bsgclearing.com. All company or product names are trademarks and/or registered trademarks. ENDSContact:Julian Walker - Investor relationsGainsborough Communications Consultancy+44 (0)20 7190 1705jw@gainsboroughcomms.com Erin Brennan - Media relationsBlanc & Otus Public Relations+1 512 372 6653ebrennan@blancandotus.com Helen Bicknell - EMEA MarketingBSG Clearing Solutions+44 (0)20 7608 8000Helen.bicknell@bsgclearing.com This information is provided by RNS The company news service from the London Stock Exchange