Telecom Egypt Company-GDR : Telecom Egypt Appoints New Chief Executive Officer.

Telecom Egypt Appoints New Chief Executive Officer

Cairo, January 12, 2012: Telecom Egypt (TE ) (Tick er: ETEL.CA; TEEG.LN), today announced the appointment of Eng. Tarek Aboual am as Chi ef Executi ve Officer (CE O) and Managi ng Di rector with effect from 19 January 2012.
TE's current CEO, Eng. Mohammed Abdel Rehim Hassanei n, will step down on 18 January when he reaches the age of retirement, in line with TE's corporate policy . He assumed the role in June 2011, having served TE for 36 years in a variety of positions, initially joining as an engineer and progressing to Seni or Vice President (SVP) and Chi ef Technology Officer (CTO).

Thanking Mohammed Abdel Rehim Hassanein for his servi ce, TE' s Chairman, Eng. Akil Beshir, said:

"Over the past 36 years, Eng. Moham med has made a signi ficant and last ing impact on the success of TE, servi ng the company dili gently throughout his career. Most notably, o ver the past 6 months, Moham med has steered TE through a very chall enging and dynamic m arket while ensuri ng clients continued to recei ve the best possible service. On behal f of the Board of Di rectors , I woul d like to thank Mohammed for his loyal service and wish him all the best for his retirem ent."
Eng. Tarek Aboual am joined TE in May 2009 as Vice President, Int ernational & Wholesale and was subsequently promoted to Senior Vice President in June 2011.
Tarek has more than 1 6 years' experienc e in the t elec omm unications industry , including a signi ficant track record of accomplishments in the Middl e Eastern and E uropean m arkets, having served as a board m ember of several tel ecom com pani es. He was also invol ved in the successful l aunch of TE Data; pl aying a major role i n the conception and impl ement ation of t he com pany's business pl an and strategic decisions . During his time at TE, Tarek has grown the Int ernational and Wholesale businesses which now typically account for hal f of our total revenues.

Commenting on Tarek Aboualam's appointment, Eng. Akil Be shir said:

"The persistent pace of change withi n the Egy pti an telecommunications market, combined with the challenges thrown up by the global economic crisis, demands the highest standards of leaders hip. Through his hard work and commitment to TE, Tarek has proven his ability to lead a business and find new avenues for growth. Since joi ning TE in 2009, the B oard has been impressed by his focus and determi nation and I greatly look forward to working with Tarek on this new and exciting chapter for TE. "
A replacement for the role of Vice President, International & Wholesal e will be announced by TE in due course.

- End s - For Further Information:

Mohamed Kamal	Ahmed Labib
General Manager of Investor Relation s	General Manager of Investment
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Note s to Edito r s:

Within this statement, we may mak e forward -look ing statements regarding future events or the future performance of the Company. By their very nat ure, forward -look ing statements invol ve inherent risk s and uncertai nties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-look ing statements will not be achieved. You shoul d be aware that a number of important factors could cause actual results to differ materiall y from the plans, objectives, expectations, e stimates and intentions expressed in such forward-look ing statements. When rel ying on forward-l ook ing statements, you should carefull y consider the political, economic, social and legal envi ronm ent in which Tel ecom Egypt operates. Such f orward-l ook ing statements speak onl y as of the time of this releas e today. Accordingly, Telecom Egypt does not undertak e any obligation to update or revise any of them, whether as a result of new i nform ation, future events or otherwise other than as requi red by applicable la ws, the Listing Rules or Prospectus Rules of the United Kingdom Listing Authority, the Egyptian Fi nancial Supervisory A uthority or The E gyptian E xchange. The documents filed from time to time with these authorities may identify im portant factors that could cause actual results to differ materiall y from those contai ned in any forward -look ing statements.

Abou t Telecom Egypt

Telecom E gypt (TE), Egypt's incum bent telecomm unications operator, started its operations in 1854 with the first telegraph line in E gypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Tel ecommunication Organization (ARE NTO). The Company is the largest provider of fixed -line services in the Middle East and Africa with 8.6 million subscribers as at 30 Septem ber 2011.
TE provi des retail telecomm unication services includi ng access, local, long distance and international voice, Internet and data, and other s ervices. The company also provi des whol esale servic es includi ng bandwi dth capacity leasing to ISPs, and nati onal and i nternational interconnection services. Telecom Egypt's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has acti ve operations in Egypt and Jordan.
TE currently participates in the m obil e segment in Egypt by providi ng m obile i nterconnecti vity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egypti an mobile operators. TE's shares and GDRs (Ticker: E TEL.CA; TEEG. LN) are tra ded on the Egyptian Exchange and the London Stock Exchange.