26.3% increase over the year 2007,Wataniya Telecom Posts KD 82.4 Million Net Profit for the year ending 2008

Wataniya Telecom (National Mobile Telecommunications Company K.S.C. - Ticker: NMTC) announces its 2008 financial results with the Company posting an EBITDA of KD 201.3 million (USD 725.4 million) for the year, representing a 26.3% increase over the year 2007 of KD 159.4 million (USD 574.4 million). Additionally, the company reports a consolidated net profit of KD 82.4 million (USD 296.9 million) for the year or 164 fils (59 cents) per share, compared to KD 80.7 million (USD 290.8 million), or 161 fils (58 cents) per share earned in 2007.

Sheikh Abdullah Bin Mohammed Bin Saud Al Thani, Chairman of Wataniya Telecom commented, "Wataniya Telecom continued to maintain strong growth through the 4th quarter 2008 across our operations, both in terms of revenue and EBITDA. Kuwait continues to thrive even with the new entrant having launched in the last quarter. Wataniya continues to expand its networks and improve the range and quality of its services in all our operations for the benefit of our customers".

23/2/2009