Dubai, UAE, 27^th June 2004

Emirates Telecommunications Company (Etisalat) today announced the launch of its e-powerhouse one-stop shop e-Company – formed from the merger of its key online business units. This major initiative will leverage customer value and continue the ongoing process of streamlining the region’s dominant communications provider to meet the greater challenges of a more competitive era. It puts in place a single point of contact for all of Etisalat’s e-solutions by merging Emirates Internet and Multimedia (EIM) and Comtrust. As the region’s governments and enterprises step further into the digital economy with several e-government and e-business initiatives to be launched, Etisalat    is    strengthening    its

Ahmed Abdulkareem Julfar, General Manager e-Company; Mohamed Omran, Etisalat's acting President and Chief Executive; Obaid Saeed Bin Mesh'har, Senior Executive Vice President and General Manager, Dubai region and A. Hashim, Senior Business Development & Sales at the launch of e-Company.

position and taking the lead by creating the e-Company. The move is central to the strategy initiated by Etisalat Chairman Dr Mohammed Khalfan bin Kharbash to put the customer at the heart of the business. A big step is being taken in this direction with the e-Company committed to offering new advanced e-solutions and data services to customers as diverse as consumers, businesses and governments throughout the region. Greater focus on enterprise customers will be one of the key strategies.

Mohamed Omran, Etisalat’s Acting President and Chief Executive Officer, said: “The role of Etisalat as a leading communications company is to empower our customers to reap the benefits of the digital economy in the UAE and across the region. “By combining the capabilities of EIM and Comtrust, and leveraging on the tremendous potential that we have in our people, we will be able to deliver optimum value to our customers. Our heritage combined with our vision is driving the development of the digital economy, in the UAE and across the region. This has played a crucial role in creating this opportunity.” The merger of these two units will allow our customers to have a single point of contact for all of their e-solutions’ requirements. The e-Company will be given its autonomy, agility and flexibility in order to better meet business needs and compete in the Region.

Ahmed Abdulkareem Julfar, who has been appointed as the e-Company’s General Manager, said: “By creating a single unit, we are ideally positioned to maximize the efficiency of our operations, to exploit new opportunities that arise in the market, and to provide the highest standards of response to our customers’ requirements. Etisalat’s vision is to position the e-Company as the customer’s first choice in e-services in the region.” The e-Company has the facilities to provide a complete portfolio of Internet offerings, value added services, Information Communication Technology consultancy and project management. The total offerings of Etisalat Data Center will be offered by the new e-powerhouse.

The launch of e-Company will also allow Etisalat to build on the existing partner relationships of Comtrust, and develop a wider and stronger partner network to help maximize its sales coverage, address the comprehensive ICT needs and reach in markets around the region. Many of e-Company’s solutions will be marketed through partners as part of wider solutions or infrastructure deals. This initiative is in the final stages of working out the structure and business model of the new entity.