25-08-2008

Doha & Jakarta, Following a shareholders vote at the Indosat EGM held today in Jakarta, Sheikh Abdullah Al Thani was elected President of the Board of Commissioners of Indosat. Also elected to the Board were Qtel CEO Dr Nasser Marafih and Qtel’s partner in Indonesia, Mr. Rahmat Gobel, and an independent member, Mr. Michael Latimer. Qtel Deputy Chairman Sheikh Mohammed Bin Suhaim Al Thani is already a member of the Indosat Board of Commissioners.
 
Qtel secured effective control of the shares as the single largest shareholder following its purchase of 40.8% from Asia Mobile Holdings (“AMH”) in June. With the appointment of its nominees, Qtel now has effective control of the Indosat Board of Commissioners.
 
Qtel intends to acquire more shares in Indosat and will shortly launch a tender offer once it has received technical clarification from the relevant Indonesian authorities.
 
Sheikh Abdullah said “We are delighted and honoured to be appointed to the Indosat Board of Commissioners and we look forward to working with Indosat’s management. As part of the Qtel family, we will provide support and guidance to Indosat so the company can reach its potential as the premier telecommunications provider in Indonesia”
 
Indosat is one of Indonesia’s leading telecommunications providers. It added 7.9 million new subscribers in the first six months of 2008, or around 32 per cent growth compared to its subscriber base by the end of 2007 of 24.5 million subscribers. Total operating revenue for the year to 31 December 2007 was 16,489 million rupiahs (6,392 million QAR) and net income was 2,042 million rupiahs (960 million QAR).