Mobile Telecommunications Company (MTC) was founded in 1983 to offer mobile telephony services in Kuwait and is currently one of the leading mobile operators in the Middle East with over 3.4 mn customers across the region in Kuwait, Bahrain, Jordan, Iraq and Lebanon.

MTC expanded its geographic base by acquiring Celtel, which is a leading African operation spread across 13 countries with 5.2 mn subscribers, on March 29, 2005. MTC is currently known as MTC-Vodafone in Kuwait and Bahrain, Fastlink in Jordan, MTC Atheer in Iraq, MTC Touch in Lebanon and Celtel in Africa (13 countries).

The firm has the following subsidiaries: Etisalat Plus Company (100%), E-Communication Company (100%), MTC Lebanon (100%), Jordan Mobile Telephone Services (via Pella Investment Company, 96.52%), MTC Vodafone Bahrain (60%) and Atheer Telecommunications (30%).

Individuals	N/A
Institutions	N/A
Floating	N/A
Government	26%

Director	Aabd el Mohsen Ibrahim Al Fares
Chairman	Ahmad Mohammad Al Nasar
Managing Director	Ahmad Mohammad Al Nasar
Vice Chairman	Assaad Ahmed Al Banouan
Director	Fahed Khaled Al Zamami
Director	Jamal Ahmad Al Khandari
Director	Meshaal Mohammad Al Hammad
General Manager	Saad Hamad Al Barrak
Director	Sheikh Ahmad Salem Al Ali Al Sabah

	2004	2003	2002
Total Assets	649,681	587,172	349,593
Shareholder's Equity	389,366	336,291	284,166
NIAT	120,241	102,212	75,042
Dividends	82,874	73,995	N/A

	2004	2003	2002
Assets Growth	10.65%	67.96%	8.47%
Earning Growth	17.64%	36.21%	-5.68%
ROaA	19.44%	21.82%	22.34%
ROaE	33.14%	32.95%	27.39%
No. Of Shares	517,963,522	493,298,592	493,298,592
EPS	0.23	0.21	0.15
EPS Growth	17.64%	36.21%	-5.68%
Payout Ratio	68.923	72.393	N/A

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

The information is this section is provided by SHUAA Capital PSC. The information contained in this section is not intended to be an offer, a recommendation, or a solicitation to buy or sell securities or investment products.

The information and opinions contained in this section have been compiled from, or arrived at in good faith, from sources believed to be reliable but no guarantee or warranty is made by SHUAA Capital or AME Info as to the accuracy or completeness of the information contained herein.

All opinions expressed herein are subject to change without notice.

Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC.

© SHUAA Capital PSC. All rights reserved.