Stepping out of home: Challenges and Successes ARAB INTERNET AND TELECOM FORUM May 31, 2004

ESSENCE OF PROFOUND INSIGHT IS SIMPLICITY ( From Good to Great: By Jim Collins) This presentation will not discuss the complexities of expansion plans with mentioning of de regularoty climates and such but will discuss the simple need for moving from a good to Great company UNITED KINGDOM 1440-06-191440-06-19

Agenda Opportunity The Challenge Sources 3X3X3 Strategy Achievements

Overview MTC founded in 1983 MTC is offering services to over 2,000,000 + customers. 1,000,000 GSM customers in Kuwait 61% market share (revenue), 53% of total market share (customers*) 1,000,000 GSM customers in Jordan75% market share (revenue), 75% of total market share (customers*) Pioneered mobile services in Middle East, Kuwait, Jordan and Bahrain 3G EDGE, MMS, and

Largest Non-Bank (second largest overall) Kuwait Stock Exchange Largest Non-Bank (second largest overall) Market capitalisation $US 7 billion in 2003 Gross Revenue 2002 $US 436 million Gross Annualised Revenue 2003 $US 835 million Projected Gross Annualized revenue 2004 $ US 1 Billion Operations: Kuwait, Jordan, Bahrain, Lebanon, Southern Iraq UNITED KINGDOM 1440-06-191440-06-19

UNITED KINGDOM 1440-06-191440-06-19

The Opportunity UNITED KINGDOM 1440-06-191440-06-19

% of Mobile Subscribers in ME and Africa Pyramid research 2003

Total Mobile revenues in MENA Region Pyramid research 2003 UNITED KINGDOM 1440-06-191440-06-19

The Challenge UNITED KINGDOM 1440-06-191440-06-19

The transformation process= the Black Box GREAT RESULTS WHAT’S INSIDE THE BLACK BOX? GOOD RESULTS The transformation process= the Black Box UNITED KINGDOM 1440-06-191440-06-19

Good-to-Great Companies: $471 $500 $400 $300 $200 $100 1970 1976 1982 1988 1994 2000 Direct Comparison Companies: $93 General Market: $56 Notes: $1 divided evenly across companies in each set, January 1, 1965. Each company held at market rate of return, until transition date. Cumulative value of each fund shown as of January 1, 2000. Dividends reinvested, adjusted for all stock splits. UNITED KINGDOM 1440-06-191440-06-19

Good is the enemy of Great UNITED KINGDOM 1440-06-191440-06-19

THE CHALLENGE OF SCALE Vodafone 133.4 million (May 2004) China Mobile 153.27 million (May 2004) China Unicom 143 million (May 2004) Orange 50 million ( May 2004) T-Mobile 87 million ( End of 2003) NTT Do Co Mo 45,926 million Verizon USA 39 Million ( 2004) AT&T Wireless (21.6 million March 2004) (Company information) UNITED KINGDOM 1440-06-191440-06-19

Borders……….Borders………….Borders……………… UNITED KINGDOM 1440-06-191440-06-19

ECONOMY IN THE SERVICE OF POLITICS RATHER THAN …… POLITICS IN THE SERVICE OF ECONOMY UNITED KINGDOM 1440-06-191440-06-19

GDPs USA $10,400,000,000,000 CHINA $5,700,000,000,000 Japan $3,550,000,000,000 Germany $2,184,000,000,000 France $1,540,000,000,000 UK $1,520,000,000,000 Arab Countries $ 531, 000,000,000 (CIA World Factbook 2003) UNITED KINGDOM 1440-06-191440-06-19

The Contemplated Vision The Arab World Revenue Pot Tunisia Subs: 1.9 million Revenues: US$ 0.4 billion (1) Operators: 2 Egypt Subs: 5.9 million Revenues: US$ 1.1 billion Operators: 2 Lebanon Subs: 1.1 million Revenues: US$ 0.9 billion (2) Operators: 2 Revenues: US$ 0.2 billion (3) Syria Subs: 0.9 million Operators: 2 Jordan Subs: 1.3 million Revenues: US$ 0.4 billion Operators: 2 GSM + 1 iDEN + 1 GSM license in progress Morocco Subs: 7.3 million Revenues: US$ 1.2 billion Operators: 2 MTC Present Kuwait Subs: 1.8 million Revenues: US$ 1 billion Operators: 2 Algeria Subs: 1.3 million Revenues: US$ 0.3 billion (4) Operators 3 Bahrain Subs: 0.5 million Revenues: US$ 0.2 billion Operators: 2 Revenues: US$ 4.7 billion Saudi Arabia Subs: 7.5 million Operators: 1 + I GSM license in progress United Arab Emirates Subs: 3.0 million Revenues: US$ 1.3 billion Operators: 1 + 1 GSM license in progress Oman Subs: NA Revenues: NA Operators: 1 + 1 GSM license in progress Qatar Subs: 0.4 million Revenues: US$ 0.3 billion Operators: 1 With around 33 million subscribers, the Arab world generated approximately US$ 12 billion in revenues from mobile telephony in 2003 EFG Hermes research 2003 UNITED KINGDOM 1440-06-191440-06-19

“ A PROCESS OF BUILD UP FOLLOWED BY A BREAKTHROUGH” THE TRANSFORMATION “ A PROCESS OF BUILD UP FOLLOWED BY A BREAKTHROUGH” 3 stages UNITED KINGDOM 1440-06-191440-06-19

Disciplined people UNITED KINGDOM 1440-06-191440-06-19

Disciplined Thought UNITED KINGDOM 1440-06-191440-06-19

Disciplined action UNITED KINGDOM 1440-06-191440-06-19

CONFRONT THE BRUTAL FACT LEVEL 5 LEADERSHIP TECHNOLOGY ACCELERATORS DISCIPLINED PEOPLE DISCIPLINED ACTION DISCIPLINED THOUGHT FIRST WHO… THEN WHAT CONFRONT THE BRUTAL FACT HEDGEHOG CONCEPT CULTURE OF DISCIPLINE B U I L D U P . . . B R E A K T H R O U G H ! F L Y W H E E L UNITED KINGDOM 1440-06-191440-06-19

Greatness is not a matter of Circumstance But Largely a matter of conscious choice UNITED KINGDOM 1440-06-191440-06-19

Service is an art that is totally based on HUMAN SKILLS UNITED KINGDOM 1440-06-191440-06-19

Distinction of Human Skills is the only sustainable competitive advantage UNITED KINGDOM 1440-06-191440-06-19

The Challenge is the richness of sources not the abundance of resources UNITED KINGDOM 1440-06-191440-06-19

SOURCES UNITED KINGDOM 1440-06-191440-06-19

CREATIVTY UNITED KINGDOM 1440-06-191440-06-19

RELIABILITY UNITED KINGDOM 1440-06-191440-06-19

excellence UNITED KINGDOM 1440-06-191440-06-19

create sources not collect resources The challenge is to create sources not collect resources UNITED KINGDOM 1440-06-191440-06-19

5 S UNITED KINGDOM 1440-06-191440-06-19

sources UNITED KINGDOM 1440-06-191440-06-19

service UNITED KINGDOM 1440-06-191440-06-19

systems UNITED KINGDOM 1440-06-191440-06-19

Skills UNITED KINGDOM 1440-06-191440-06-19

Super UNITED KINGDOM 1440-06-191440-06-19

Utility to Entertainment to Lifestyle UNITED KINGDOM 1440-06-191440-06-19

Our Human Resource Philosophy 5xF UNITED KINGDOM 1440-06-191440-06-19

Future UNITED KINGDOM 1440-06-191440-06-19

Freedom UNITED KINGDOM 1440-06-191440-06-19

Fortune UNITED KINGDOM 1440-06-191440-06-19

Fitness UNITED KINGDOM 1440-06-191440-06-19

Fun UNITED KINGDOM 1440-06-191440-06-19

OUR VISION 3x3x3 UNITED KINGDOM 1440-06-191440-06-19

1st Three Regional expansion UNITED KINGDOM 1440-06-191440-06-19

International 2nd Three International 1440-06-191440-06-19 UNITED KINGDOM 1440-06-191440-06-19

3rd Three Global Global UNITED KINGDOM 1440-06-191440-06-19

Sufficient amount of Funds Capability to Deliver ACHIEVEMENTS Strategic partnerships Value Added Investors Sufficient amount of Funds Capability to Deliver

THANK YOU UNITED KINGDOM 1440-06-191440-06-19