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Investcom LLC (INVT)

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Thursday 27 April, 2006

Investcom LLC

CLOSURE OF TRANSACTION

Investcom LLC
27 April 2006


     INVESTCOM FINALISES INCREASED OWNERSHIP OF YEMEN AND SUDAN OPERATIONS


Dubai, 27th April 2006 - Investcom LLC, the international mobile
telecommunications company, today announced that it has finalised the terms of
its increased ownership in its Yemen and Sudan subsidiaries.


In September 2005, Investcom entered into a deed of exchange with Al Bashair
Telecom, agreeing to acquire an additional 40% stake in Spacetel Yemen.  The
transaction takes Investcom's overall stake to 82.8% and will result in Spacetel
Yemen now being fully consolidated in Investcom's financial results as of 1st
April 2006.


Investcom also agreed to acquire an additional 30% interest in Bashair Telecom
Co., its Sudanese operations.  This transaction takes Investcom's total stake to
85%.


Following the two acquisitions described above, Investcom's total share capital
is now 1,435,257,519, the equivalent of 287,051,504 GDSs.


Commenting on the closing of these deals, Azmi Mikati, Chief Executive Officer,
said:


'Yemen and Sudan are very important markets for Investcom and both have shown
solid growth to date and continue to contribute positively to our company's
success.


'In 2005, we saw total subscribers in Yemen almost double.  After just five
months of operations in Sudan in December 2005, we have reached gross operating
revenues of more than US$20 million with a market share of 12%.


'We have benefited immensely from relationships with local partners, gaining
valuable local insights into new operating markets and look forward to continued
progress in the future.'


In these transactions, Citigroup acted as a financial advisor to Investcom and
Al Bashair Telecom was advised by Rothschild.


                                   -- Ends --


For more information please contact:

Investcom

Elie Bardawil on            +377 97 77 60 85 or on [email protected]



Capital MS&L

Claire Maloney on           +44 20 7307 5341 or on [email protected]


Citigroup

Jeremy Hughes on            +44 20 7986 5607 or +44 7747 603 117 or on

[email protected]


About Investcom

Investcom LLC (www.investcomllc.com) is an international provider of mobile
telecommunications services with operations in nine countries in the Middle
East, Africa and Europe.  The company operates GSM networks, mostly under the
AreebaTM brand, in Syria, Ghana, Yemen, Benin, Liberia, Cyprus, Guinea-Bissau,
Guinea and Sudan. As of December 2005, Investcom provided services to 4.9
million mobile subscribers.  Investcom has also recently been awarded a GSM
license to build and operate a mobile network in Afghanistan, expanding its
operations to ten countries and boosting its combined population under license
to approx. 147 million.


The company also provides international carrier services, principally through
its operations in Monaco, fixed telephony services in the United Kingdom and
telecommunications engineering and consulting services.



                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                    

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