04-08-2008

Qatar Telecom (Qtel) Q.S.C. announces the delay of disclosure of its half-yearly financial results ending 30 June 2008 until no later than 15 September 2008. This delay is due to extra time needed to consolidate the financial results of PT Indosat, which was acquired by Qtel in June 2008.

Qtel further announces that this delay is necessary and it believes it is in the best interests of the shareholders so that the reported audited consolidated financial statements include the results of PT Indosat as a key and significant portion of its most recent strategic acquisitions.  Indosat is Indonesia’s second telecoms operator with a base that reached 27 million subscribers as of 31 March 2008. Indonesia has the fourth largest population in the world. This Indosat acquisition is in line with Qtel’s vision to become one of the top twenty telecommunications companies in the world by the year 2020.

In this sense, Qtel has approached the Qatar Financial Markets Authority (QFMA) and has reached a settlement with the authority under specific terms with regard to the delay of disclosure of its half-yearly financial results.

Qtel has further obtained approval from The Abu Dhabi Securities and Commodities Authority to disclose its half-yearly financial results by 15 September 2008.

Qtel is very committed to take all necessary measures to ensure full compliance with the financial disclosure rules and regulations set by the regulatory authorities and stock exchanges where it has public listing.

This statement was prepared and published upon a request of QFMA and as part of the terms of the settlement agreed on with QFMA.