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Oger Telecom Limited final results for the year ended 31st December 2006

United Arab Emirates: Wednesday, June 20 - 2007 @ 16:36

Oger Telecom reports total Group revenues for the year of $5.79bn ($6.86bn on a proforma basis1) with an operating profit of $1.346bn, a Net Income of $1.283bn and an EBITDA of $2.745bn ($2.866bn on a proforma basis1).

2006 was a consolidating year for the Group having acquired Cell C in July, Avea in September following the Türk Telekom acquisition of 40.5% stake in Avea from Telecom Italia, and Cyberia, an Internet Service Provider operating in Saudi Arabia, Jordan and Lebanon, in December 2006.

Commenting on the strong results Mohammed Hariri, Chairman of Oger Telecom, said:

“I am delighted to report these encouraging results for Oger Telecom. Last year was one of dramatic change and progress for our group whose continuing strategy is to become an even greater force in telecommunications and internet services in emerging markets.”

Dr. Paul Doany, Chief Executive Officer of Oger Telecom and Executive Chairman of Türk Telekom, added: “The strong profitability performance of the Group is a result of a year of very hard work by all involved at Oger Telecom and the staff in all our operations. As Executive Chairman of Türk Telekom I am personally very pleased with the substantial growth in ADSL subscribers, in excess of 3.6 million by mid-year for TTNet in Turkey.”

“In conclusion, 2006 was a transitional year for Oger Telecom, one that saw rapid change. This year we are concentrating on improving operating efficiency and financial performance throughout the group. Both years have imposed considerable challenges and we would like to thank all our employees who have helped provide good quality service to our existing customers and continue to attract many new ones.”

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Wednesday, June 20- 2007 @ 16:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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