BankMuscat is the first bank in the Sultanate to employ this technology

Muscat. 11 July 2007: Oman Telecommunications Company (Omantel) and BankMuscat SAOG, the nation's leading bank, signed a MultiProtocol Label Switching (MPLS) agreement at the BankMuscat head office yesterday. H.E. Saud bin Nasser al Shukaily, Chairman of Omantel, and Sheikh AbdulMalik bin Abdullah Al-Khalili, Chairman, BankMuscat represented the two organizations at the signing ceremony, which was also attended by several senior officials from both organizations.

Speaking on the occasion, H.E. Saud bin Nasser Al Shukaily, Chairman, Omantel said:

" Omantel shall provide BankMuscat with a virtual private network using the MPLS high-quality network along with the terminals and service equipment. This service will connect 105 locations at a speed of 512 Kbps, as well as connection with the Head Office and the Disaster Recovery Centre at a speed of 34 Mbps. Omantel will also be responsible for monitoring the Bank's service network real-time and proactively initiating solutions in case of an emergency or on detection of any fault in the system, with an efficiency rate of  %99.99 throughout the year as per the Service Level Agreement. The technical management center, which is located in Knowledge Oasis Muscat is operational 24 hours, and is responsible for monitoring all centers and initiating solutions in case of faults. The center is equipped with a technical emergency team that is capable of solving technical problems within a 4 hour timeframe. "

MPLS is a versatile solution with distinguished features that differentiate it from other technologies, especially when it comes to reliability, data transfer, security and preservation.

BankMuscat has always believed in harnessing the power of technology to build a differentiated brand experience. Late last year, it may be recalled, the Bank announced the signing of an agreement with TEMENOS Headquarters SA to introduce a new state-of-the-art core banking system, based on TEMENOS T24™, the World's leading integrated banking system following a 5-month search and evaluation process led by global technology consultancy firm, Gartner Consulting.

Speaking of the Bank's commitment to technology-led excellence, Sheikh AbdulMalik bin Abdullah Al-Khalili, Chairman, BankMuscat, said:

"Our agreement with Omantel marks another chapter in our quest to provide superior customer service to people across the Sultanate. We believe technology has the power to change the face of banking as we know it and we are committed to exploring every possibility to bring our customers a better and differentiated banking service based on latest cutting-edge technology. We look forward to a long and mutually rewarding relationship with Omantel."

Omantel is slated to roll out the MPLS technology solution across the Bank's branch network nationwide during the course of the year. They will then be responsible for monitoring the Bank's service network real-time and proactively initiating solutions in case of an emergency or on detection of any fault in the system.

MultiProtocol Label Switching technology will provide for the efficient designation, routing, forwarding, and switching of traffic flows through the Bank's branch network. BankMuscat is the first bank in the Sultanate to employ this state-of-the-art technology to improve the efficiency of its network.

-Ends- 

About Omantel:
Omantel in race against time with hi- quality, and hi -tech services. 

Oman Telecommunications Company Omantel is considered to be the exclusive licensed provider of fixed phone lines, the Internet and all other telecommunications services in the Sultanate of Oman. The company has been providing telecommunications services in the Sultanate since the dawn of the blessed renaissance. Omantel is fully committed to regularly and continuously develop and update the quality of its services based on the most up to date technologies and at the same time it seeks to achieve continued growth in its client's base. The continued development of Omantel services is accompanied with continued increase in the number of fixed lines and internet subscribers, reflecting the size of the growth of the Sultanates telecommunications sector in that supports the national economy in addition to its being the main mover of several other sectors. Omantel started to provide the Internet service in 1997. The number of Internet subscribers now exceeds 93000 with good growth rate as a direct result of the new services and products launched from time to time.

About BankMuscat:
With assets worth over USD 8.5 billion, BankMuscat (SAOG) is the largest Bank in Oman today with a strong presence in Corporate Banking, Consumer Banking, Investment Banking, Treasury, Private Banking, Project Finance and Asset Management. The Bank has a network of 101 branches and 238 ATMs in Oman and a representative office in Dubai (UAE). BankMuscat also has a strategic stake in Centurion Bank of Punjab, one of the largest private sector bank in India, and has a 49% stake in BankMuscat International (BMI), an independent banking entity in Bahrain that is focused on becoming a truly GCC regional bank. The Bank has also recently opened its first branch in the Kingdom of Saudi Arabia.

For more information, pl. contact:
Suha Al Raisi Assistant Manager
Corporate Communications
E-mail: suhaa@bankmuscat.com
Tel: + 968 24768595
Fax: + 968 24787768

© Press Release 2007