WARID TOTAL INVESTMENT IN PAKISTAN TO TOUCH $1.5 BN BY YEAREND

KANWAL SALEEM
May 26 - June 01, 2008

LAHORE: The total investment of Warid Telecom in Pakistan will touch $1.5 billion by the end of this year while the company will further increase its investment in the telecom sector by $1 billion by the end of 2009.

Warid Telecom Chief Executive Officer (CEO), Marwan Zawaydeh, said this while addressing a news conference in Lahore.

On the occasion, Marwan shared the company's achievements, recognitions and future plans after completing three years of successful operations in Pakistan. Warid Telecom Chief Commercial Officer Thomas Yeo also addressed on.

Marwan said the company, during its three year operation, has achieved all the targets including loyal and satisfied subscriber base and gaining the strong reputation for the best quality network by deploying latest technology in the GSM network.

"Under the leadership of our Chairman His Highness Sheikh Nahayan Mabarak Al Nahayan and guidance of Bashir A Tahir- Chief Executive Officer Abu Dhabi Group we are focusing the full power of our assets to become the best mobile phone operator and the primary choice of Pakistani subscriber, fulfilling the consumer's communication needs," he added.

He said that the company has started investing heavily to double its network capacity and coverage and plan to take over installed cell sites to more than 5,000 by the end of this year. This will enhance our existing state-of-the-art network and also result in connecting the remote areas while maintaining best network coverage, voice clarity and innovations.

Marwan Zawaydeh also unveiled the new logo of the company and said the company's new logo has a more approachable image and will strengthen the Warid identity while keeping the customers in focus and encompass the expanding reach of Warid not just in Pakistan- but also internationally.

Warid Telecom's Chief Commercial Officer (CCO), Thomas Yeo announced the re-launch of the company towards a new dimension and shared the latest innovation offered through Warid's products and services to its subscribers as part of Warid's Third Anniversary celebration.

With the re-launch, we have lined up an entire suite of innovative services and delightful experiences to welcome new users to our network as well as to ensure our existing customers continue to feel pampered, he added.

"With Warid, being a new family member of SingTel Group, we are certain that the experience sharing in product innovation and customer service excellence among the Group will enhance Warid's speed to market some of the most interesting and great value offering to our customers in Pakistan," Thomas Yeo said.

He said Warid Telecom entered into a strategic alliance with SingTel. Subsequent to this transaction, telecom giant SingTel has acquired 30 per cent equity stake in Warid Telecom for an estimated $758 million.

Warid Telecom is one of the fastest growing GSM mobile companies in Pakistan. Since its launch on May 23, 2005 Warid has more than 15 million subscribers and cover over 5,000 destinations all over Pakistan. "Warid Telecom is also providing one of the largest and continuously growing International Roaming network in over 129 countries with roaming partnerships with 200 global operators," he added.