Qtel Reports Q1Qtel Reports Q1

QATAR -- Qatar Telecom QSC (“Qtel” or “The Qtel Group” or “The Group”) (Ticker: QTEL.QA) today announced sound financial results for the period ending 31 March 2009, as the company’s diversified growth strategy continued to provide it with a strong basis for returns during a challenging economic period.

In the first Quarter of 2009, Qtel achieved consolidated group revenue of QAR 5.6 billion (Q1 2008: QAR 3.5 billion), growth of 58 percent. The Group’s net profit attributable to shareholders for the same period reached QAR 604.4 million, registering 15 percent year-on-year growth. The Group’s consolidated customers stood at 55.9 million.

A range of factors enabled the company to deliver these results, including management focus on profitable growth; the defensive positioning of the telecommunications sector; ongoing development in key markets such as Qatar, Iraq and Indonesia; and the Qtel Group’s strategic balance across a range of markets and product areas.

Announcing the results, His Excellency Sheikh Abdullah Bin Saud Al-Thani, Chairman, Qtel, commented: “The Qtel Group continues to deliver positive results for its customers and shareholders, driven by our Group’s record of investment in key growth areas as well as prudent and responsible management, and enabled by our solid connection with our customers. Taking into account the changing economic climate, we have consolidated our position in established markets and sought to uncover new efficiencies in order to enhance continuing profit growth.”

Qatar Telecom QSC (Qtel)