Works Under Way in MENA Submarine Cable System

Cairo, May 29^th, 2012

Khaled Bichara, CEO of Orascom Telecom Media and Technology Holding SAE (OTMT) stated that works are under way in MENA Cables Submarine cable project, as all marine construction works have been completed and the landing stations and network operating centre (NOC) are now fully operational.

The telecom company obtained most of the official approvals to lay the terrestrial section of the submarine cable System, which will extend  across Egypt territory. OTMT is seeking to acquire the remaining necessary Permits to complete the Submarine Cable System and start operation soon, as previously announced on several occasions.

Bichara refuted news about halting the construction works, adding that work is in progress in cooperation with world-renowned expert companies in the field, to ensure that the project is carried out according to the highest technical specifications and in compliance with global operating standards.

MENA cable extends over 8800 km linking Italy, Saudi Arabia, Oman and India, passing through Egypt. The cable infrastructure, together with the existing cables, covers current and future international communications requirements between Egypt, the Arab World & India and Europe, reducing the cost of these services for the Egyptian user, and further providing alternative paths to circumvent internet outages.

Investments in the project to-date are valued at $350 million, and are expected to increase to $450 million during the coming five years.

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About Orascom Telecom Media and Technology
OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Pakistan, Lebanon and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, media and technology and cable businesses. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The media and technology division consists of OT Ventures/Intouch Communications Service and the OT Ventures Internet portals and other ventures in Egypt, including LINK Development, ARPU+ and LINKonLINE. The cable business focuses on the management of cable networks.

OTMT is traded on the Egyptian Stock Exchange under the symbol (OTMT.CA, OTMT EY).

© Press Release 2012