Spacetel Syria becomes Areeba Syria

The network, formerly known as Spacetel is being re-branded following a decision by Investcom's management to unite its mobile subsidiaries under its AreebaTM brand.

Azmi Mikati, Chief Executive of Investcom, said: "Syria is growing rapidly, just as other Middle East and African markets are. There are currently 1.7 million mobile users in Syria and 45.5% of these are already Investcom customers. Our aim is to broaden this customer base and make communication accessible to everyone.

To achieve this, we believe it is important to create a powerful brand that our customers, and other stakeholders, recognise across territories. 'Spacetel' has served our customers well, but evolving into AreebaTM gives us a new impetus."

Investcom currently operates GSM networks in Syria, Yemen, Benin, Cyprus, Ghana and Guinea Bissau and will be launching in mid-2005 in Sudan. The Areeba name will be rolled out in these markets over the next 12 months. 

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About Investcom
Investcom Holding (Luxembourg) S.A. ('Investcom') is an international telecommunications company with operations in the Middle East, Africa and Europe. As of June 2004, Investcom provided services to over 1.8 million mobile subscribers. The company operates GSM networks in Benin, Cyprus, Ghana, Guinea-Bissau, Liberia, Syria and Yemen, with a combined population under license of more than 70 million. The company also provides carrier voice and data services through its operations in Monaco and the UK.

For more information, contact:
Neil Doyle / Claire Maloney, Capital MS&L on +44 (0) 20 7307 5330 or Neil.Doyle@capitalmsl.com / Claire.Maloney@capitalmsl.com