Orascom investment in Pakistan to exceed US $ 2.5 billion

Karachi: May 14, 2008 – The Chairman of Orascom Telecom Holding S.A.E. (“Orascom Telecom”), Naguib Sawiris called upon the President and Prime Minister of Pakistan recently to reaffirm the company’s ongoing business and investment commitment to Pakistan, particularly in the telecommunications sector. The group’s future investment plans and participation in other developmental sectors, like the Cement industry and Banking, was also discussed. Orascom Telecom is a leading mobile telecommunications company with various international operations, and is the parent company of Mobilink, Pakistan’s leader in cellular communication services with more than 30 million customers.

The development of the telecommunications sector in Pakistan has benefited considerably due to the contributions made by Orascom Telecom and the pioneering role played by Mobilink. The company has successfully led this booming industry through aggressive investment and expansion of coverage with more than 6,500 cell-sites, over 200,000 retail outlets, over 6,500 KMs of redundant fiber optic and coverage in more than 7,000 cities, towns and villages. The recent launch of Linkdotnet is another example of providing innovative and affordable solutions for home and business requirements across the country and bringing the wireless revolution to Pakistan.

Naguib Sawiris, said, “We have invested heavily, in excess of US$2.5 billion in infrastructure, network expansion, customer services and are confident in the conducive business environment in Pakistan which warrants additional investment. Due to the investor friendly policies adopted by the government we are envisaging sustainable growth and plan to continue our financial commitment in 2008, to meet the growing needs of our customers in Pakistan. Mobilink has lived up to its promise of reshaping communication in Pakistan and we are proud to have contributed towards this. Moreover, I am confident that the economic reforms planned for the future will provide an enabling environment for future investment and further strengthen the strong relationship that exists between our two great nations”