MTC announces revenues of USD1.356 billion (KWD 393 m)

Notes and media contacts

Key Events of the First Quarter
March 24, 2007
MTC was successful in making the highest bid for the 3rd mobile license in the Kingdom of Saudi Arabia and is looking forward to soon receiving the license from the CITC.

March 25, 2007
The Annual General Assembly meeting of shareholders approved the Board of Directors recommended 1 for 2 stock dividend and 100 fils per share cash dividend for 2006.

About MTC Group
Mobile Telecommunications Company (MTC) is the pioneer of mobile services in the Middle East and now a major player in Africa. The company was established during 1983 in Kuwait as one of the region's first mobile operators, and since the initiation of our "3x3x3" expansion strategy in 2003, we have expanded rapidly becoming the 5th largest company in the world with a footprint in 20 countries (soon 21 with the Kingdom of Saudi Arabia).

As a leading mobile and data services operator in six Middle Eastern and 14 sub-Saharan African countries with 13,000 employees, we provide a comprehensive range of mobile voice and data services to over 29.7 million active individual and business customers.

MTC operates in Kuwait and Bahrain as mtc-vodafone, in Jordan as Fastlink, in Iraq as mtc-atheer, in Lebanon as mtc-touch, in Sudan as Mobitel and in 14 sub-Saharan countries in Africa as Celtel: Burkina Faso, Chad, Democratic Republic of the Congo, Republic of the Congo, Gabon, Kenya, Malawi, Madagascar, Niger, Nigeria, Sierra Leone, Tanzania, Uganda and Zambia.

The Parent Company and its subsidiaries (the Group) provide mobile telecommunication services under licenses from Governments of the countries in which they operate; purchase, deliver, install, manage and maintain mobile telephone and paging systems; and invest surplus funds in investment securities.

The Group recorded revenues of KD 392.5 million (USD 1.356 billion) and net profit of KD 71.4 million (USD 246.6 million for the quarter ending March 31, 2007. The Kuwait Investment Authority owns 24.6% of the company's shares.

The Mobile Telecommunications Company KSC (the Parent Company) is a Kuwaiti shareholding company and its shares are traded on the Kuwait Stock Exchange. The Company's share price as at May 1, 2007 was 3.700 Fils, giving a market valuation for MTC exceeding KWD 7 billion (USD 24 billion).

The authorized, issued, and fully paid up share capital of the Parent Company as at March 31, 2007 consists of 1,895,655,826 shares of 100 Fils each.

1 USD = KD 0.28955

For media and Investor Relations enquiries contact:

Mr Ibrahim Adel
Communications and Investor Relations Director

Mr Antoine Aboukhalil
Media Relations
Corporate Communications & Relations
Mobile Telecommunications Company (MTC)
o : +961.3.792165
f : +961.3.792180

Mailing address:
MTC Touch Head Office Bldg
Charles Helou Ave
PO Box 175051
Beirut, Lebanon