Qtel closes Qatar's largest revolving credit facility advised by QNB

Notes and media contacts

Enquiries:
Qtel: Adel Al Mutawa, Group Head of Communications
phone: +974 440 0838
About Qtel

Qatar Telecom (Qtel) is the exclusive telecommunications provider in Qatar. Its principal activities include local and international fixed telephone, mobile, Internet, data and cable television services.

Qtel is committed to growing its presence in the Middle East and internationally. Since 2005, Qtel's subsidiary Nawras has captured more than 500,000 new customers (over 31% of the Omani mobile market). In November 2006, Qtel acquired a strategic 38% equity stake with AT&T in NavLink, a leading provider of Managed Data Services to businesses in the Middle East. In January 2007, Qtel further extended its international presence through the acquisition of an approximate 25% equity stake in ST Telemedia's Asia Mobile Holdings Pte. Ltd. ("AMH"). ST Telemedia are major stakeholders in StarHub in Singapore and PT Indosat in Indonesia.

In March 2007, Qtel acquired a 51% controlling stake in Kuwait based National Mobile Telecommunications Company KSC - Wataniya Telecom. Wataniya has operations in Kuwait, Algeria, Tunisia, Saudi Arabia, the Maldives and Iraq. A licence to operate in Palestine has also been awarded.

During 2006, the Qtel Group achieved revenues of QR 4.42 bn (2005 - QR2.98 bn), an increase of 48.2% over the corresponding period in 2005. In achieving these results, the Group also grew its combined mobile customer base in Qatar and Oman to 1,491,700, which is an increase of 55.3% over the customer base of 2005. Furthermore, Qtel was the prestige partner of, and official telecommunications provider to, the 15th Asian Games Doha 2006, where it implemented the most advanced technologies in the region.

Qtel is a winner of the 2006 GCC Economic Award, and is listed on the Doha Securities Market and on other stock exchanges in the GCC.

This press release has been issued by Qtel GROUP COMMUNICATIONS-Department. For further information please contact: Tel: 4400838 / 4400201 - Fax: 4830866