Cairo March 14th, 2002, today Orascom Telecom Holding S.A.E., the leading GSM telecommunications and Internet services operator in the Middle East, Africa and the Indian sub-continent, announced that it has received on March 13, 2002 from the Ministry of Technology & Communication the official notification for the Award of the second GSM license in Tunisia. The consortium in which Orascom Telecom holds an interest of up to 35% includes a number of Tunisian businessmen and banks, Arab and International investors. With this share, the debt of the license will not be consolidated in Orascom Telecom's financials.

The consortium was chosen by the Tunisian Telecommunications Ministry after outbidding the other two contenders for the license; Telefonica Moviles of Spain and Kuwait National Mobile Telecommunications Company. The license fee of US$ 454 million offered by the consortium is to be paid in two equal installments; the first of which is payable upon the signing of the license contract.

Orascom Telecom's portion of Orascom Telecom Tunisia's (OTT) capital will be financed through a financing package being arranged by EFG Hermes which is expected to be finalized in April 2002, reaching US $200 million.

The 15 year license has favorable tax conditions and grants Orascom Telecom the right to operate its own international gateway starting from the launch of its operations while at the same time providing very favorable interconnect conditions. It also provides Orascom Telecom with a four-year exclusivity period in offering GSM services along with Tunisie Telecom. Notably, the first GSM network run since 1996 by the state-owned Tunisie Telecom is currently facing a limited capacity of 400,000 subscribers. A current waiting list of more than 300,000 people is awaiting the services of the second GSM network.

Orascom Telecom is expecting to launch commercial operations in Tunisia within six months, and is planning to cover ten major cities during its first year of service. With a population of nearly 10 million inhabitants, a per capita GDP of US$2100 which is much more favorably distributed than neighboring countries and an average yearly tourism traffic of over five million visitors, the Tunisian GSM market represents a very promising potential for Orascom Telecom.

Tunisian officials have estimated the potential for the mobile phone market in the country to be, in excess of, two million users with the majority of these users coming on-line in the first two years of liberalization. Naguib Sawiris, chairman of Orascom Telecom commented: "this award comes as a strong reassertion of our position as the leading GSM operator in the Middle East and Africa." He also added: "the Tunisian license represents a great potential for Orascom Telecom with several favorable conditions included in the agreement."

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For More information Contact:
Hatim El-Gammal
Investor Relations Director
hgammal@otelecom.com
Mob: 2012- 393 3726

Visit our web: www.orascomtelecom.com
Phone(202) 3026930
Fax: (202) 3044062

© Press Release 2005