Mar. 8--Qatar Telecom Q.S.C. ("Qtel" or "the Qtel Group" or "the Group") (EPIC: QTEL.QA), is pleased to announce strong Group financial results for the twelve months ended 31 December 2008 and the achievement of the Group's highest ever annual net profit.

Announcing the results Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of the Qtel Group commented: "The Qtel Group showed consistently strong performance throughout 2008. During the year our Group delivered a significant increase in consolidated revenue and continuing, strong annual profit growth. This growth means that today we are reporting our highest ever net profit figure: a significant achievement. Furthermore, operational progress made in Q4 -- particularly in core markets such as Qatar, Oman and Kuwait -- ensured that today's full year results are some of the best in our Group's history."

"This has been an important year in the Qtel Group's development, one in which we began to deliver the full benefits of our international positioning to customers, shareholders and the wider communities we serve. We have continued to expand our global footprint, with further acquisitions and strategic partnerships in our target geographies of the Middle East and North Africa, the Subcontinent and Southeast Asia. In particular, our acquisition of a significant stake in Indosat has positioned us for growth in one of the world's most populous markets. Today, we can proudly state that the Qtel Group's presence stretches across 17 different countries serving 57.5 million customers."

2008 marks yet another transformational year for the Qtel Group. During the year, aided by our acquisition of Indosat, Indonesia's second largest telecommunications company, as well as ongoing international development efforts the Group's presence increased to encompass 17 different countries. Each country where we have operations has a unique set of consumers, each with their own needs and ever-changing patterns of communication. The Group's management teams' priority is to understand those needs and patterns and to ensure that the Group's services and network capabilities move with them. As a result of this focus on innovation and 'share-of-value,' consolidated Group revenue this year increased 93 percent to QAR 20.3 billion (FY07: QAR 10.5 billion).

As the Group's footprint has evolved this year, so has the Group's revenue mix. Following the consolidation of Indosat's performance into the Group's results, Qatar, Indonesia, Kuwait, Iraq and Algeria now represent the Group's five largest markets by revenue, contributing 27, 21, 15, 14 and 9 percent to Group revenue respectively.

Profitability has grown strongly this year. At the end of 2008, consolidated Group EBITDA stood at QAR 9.8 billion: 90 percent higher than at the end of 2007 (FY07: QAR 5.2 billion). Net profit attributable to shareholders also increased during 2008, closing the year 36 percent higher than in 2007 to stand at QAR 2.3 billion (FY07: QAR 1.7 billion): the Group's highest ever annual net profit performance.

RESULTS OF MAJOR OPERATIONS Today, the Qtel Group serves 57.5 million customers and has a presence in 17 different countries. Each of the Group's operations has continued to make good progress during the year, as outlined below:

The Group's operations in its home nation of Qatar continue to perform solidly, with the active customer base closing the year at 1.9 million.