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Indonesia Welcome Qtel Move on Indosat: More Arab Companies Awaited

DOHA, Qatar -- Qatar Telecom QSC (“Qtel”), one of the Middle East’s fast-growing telecommunications companies, and Singapore Technologies Telemedia Pte Ltd (“ST Telemedia”), a leading information-communications company with operations in the Asia-Pacific, the Americas and Europe, today announced that their jointly held subsidiary, Asia Mobile Holding Pte. Ltd. (“AMH”), will sell its 40.8% interest in PT Indosat Tbk (“Indosat”) to Qtel.

Under the terms of the Agreements dated 6 June 2008, Qtel has agreed to pay S$2.4 billion (US$1.8 billion) in cash to acquire AMH’s total interest in Indosat.

His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Qtel’s Group Chairman, said, “We are very delighted to increase our strategic stake in Indosat. The transaction demonstrates Qtel’s commitment to Indonesia and its rapidly developing infrastructure. With this transaction, the Group will service nearly 44 million customers in 16 countries. We look forward to working with the management and employees of Indosat and applaud them for their excellent record.”