RIYADH, Saudi Arabia -- After its success in acquiring a major stake in 'Liberiacel', a leading mobile phone operator in Liberia and west Africa, HITS Telecom will expand its mobile phone and integrated services in a number of African countries through acquiring and obtaining new licenses to work within the African continent through its new company 'HITS Africa' with an investment estimated to be USD1 billion.

The alliance includes HITS Africa and many other international companies with vast expertise, and international presence, to work as a regional operator able succeed through utilization the experience of these companies in developing of distinctive marketing systems development and providing of added value and advanced services that meet the market demands in these areas.

HiTs Africa will be the first African converged player, operating across borders in more than 8 countries by 2012, HiTs offering will be mobile voice services, 3G, data provision, international gateway and fixed telephone, through convergence approaching the telecom industry is moving into a disruption phase that will make telecom services faster, cheaper and more innovative to include new and ever going applications.

The new alliance comprises of Huawei Co., the leading net work company around the world. Also include Devoe Team, a French company specialized in providing of technical solutions to develop specialized programs for project management, the Singaporean MCM for Projects Management will provide all relevant market studies and networks through exploiting of its vast experience in surveying and studies of equipment needs for the implementation of projects, in addition to Squire Sanders, the legal telecom consultant.

In its plan, the company aims, within the coming five years, to reach about 4 - 6 million subscribers in the African continent, as it is nearly getting three telecommunication licenses in three other African countries, including, the Democratic Republic of the Congo and Tanzania.

HITS Telecom is one of the GCC fastest growing companies, in the telecommunication sector. Through its leadership of several regional important alliances, it managed to acquire many mobile phone and information technology licenses in the GCC region. The company, as well, managed in view of its experience and extensive international relations, to adopt a pioneering experience in this field through its affiliates to provide many technical solutions in this field. HITS owns Qanawat and Four Run companies, which work with the tow major mobile operators in Saudi Arabia.

Whilst Qanawat is considered as the major distributor of Mobily, the second mobile phone operator in Saudi Arabia, Four Run in the field of business is marketing of communications equipment of several international brands, provide lot of technical solutions to support mobile phone services. HiTs Telecom was the leading company in launching of pay via mobile phone service through (Q Pay) company.

The expansion plan for the company in neighboring Arab countries and to work in Egypt and Yemen markets came after having acquired Unitel company, the 3rd GSM licensee in Yemen, and to lead a Gulf/Arabian alliance of more than 13 investors to support its plan to enter the Egyptian market.

The company headed toward the African continent after the feasibility of investment becomes attractive in these markets. After conducting intensive studies of the African market HiTS developed an investment and operational model in emerging and mature markets, the results proved that the growth is still in its beginning compared with other nearby markets, and there are many important factors and indications of vast growth in penetration rates in the near future.

HiTs Model is consistent with several major international banks and investment houses reports, where "Morgan Stanley" report assured that a 20% penetration ratio in the mobile phones in the region of a population of 900 million will ensure an opportunity for wide jump in number of this service users. While reports of ANG and Credit Suisse banks reports focused on the strong growth, which may exceed the growth rates of many mobile phone operators in developed countries, the bank expected strong investment returns, in addition to increasing growth led by increasing number users expected, and in addition to a large number of African countries joining the WTO agreements, which will contribute to creating a profitable a comfortable investment climate.

Dr. Mohammed Bahabri, Board Member of HITS assured that "HITS" has completed the procedures of buying the major stake of "Liberacel", one of the 2nd mobile phone operators in Liberia. Under the deal, the new company would be renamed "HITS Liberia", more funds will be invested to increase in the company's capital which is considered the fastest mobile phone companies in Liberia. HITS also will contribute in the management of the Liberian company in order to bring HiTs methods into the company business.

He further said that "Liberacel" is known to have the latest network in the Liberian market in addition to many added value services; and the only company providing the widest geographical coverage of the country. The company began its work early in the year 2006 to provide many added value services for the Liberian market.

He emphasized that acquiring the "Liberiacel' stake comes within the company's plan to invest in the telecommunications sector in the emerging markets of the African continent. It is planned to increase the company's share by the end of the year to become 75% of the total company stakes.

The new company HITS Africa will provide most advanced network to the African market, which includes many of added value driven services, and it will work in the African continent through innovative regional entities, and with clear objectives to raise the technical level of the new licenses.

HiTs Telecom