Foreign investors have the highest share of revenues in the telecom markets of Jordan, Sudan, Tunisia, Morocco and Algeria. The Arab Advisors Group analyzed the ownership structure and revenues of all fixed PSTN line and cellular operators in sixteen Arab countries. The analysis aimed at examining the "actual" level of privatization and state ownership in each country measured by the proportionate share of each operator of total market revenues. The analysis also revealed that the Palestinian market is the most privatized market. The Arab Advisors Group has analyzed the ownership structure and revenues of all fixed line and cellular operators in the region. This was intended to shed a light on the actual level of privatization and state ownership in each country measured by the proportionate share of total revenues for the first nine months of 2008. A new report, “Privatization Levels in Arab Fixed and Cellular Operators” was released to the Arab Advisors Group’s Telecoms Strategic Research Service subscribers on January 19, 2009. This report can be purchased from the Arab Advisors Group for only US$ 1,250. The 34-pages report, which has 21 detailed exhibits, provides a detailed analysis of the ownership structures and revenues and the level of privatization by revenues of all the cellular and main fixed operators in the countries covered. Please contact the Arab Advisors Group to get a copy of the reports Table of Contents. Any investment in this report will count towards an annual Strategic Research Service subscription should the service be acquired within three months from purchasing the report. An investment in the report can also count towards attending Arab Advisors’ Sixth annual Media and Telecoms Convergence Conference on June 1 & 2 2009 at the Four Seasons in Amman. More information on the conference can be viewed on http://www.arabadvisors.com/Convergence/schedule.htm “Lebanon and Libya have the least privatized telecom markets, with 100% government share (ownership) of PSTN and cellular telecom revenues. The public sector in Kuwait had the highest share of the PSTN and cellular revenues amongst all examined public sectors. In terms of local private sector revenue share, Palestine and Kuwait had the highest shares. Finally, in terms of foreign ownership proportionate share of revenues, Jordan had the highest share of 75% of proportionate PSTN and cellular revenues, followed by Sudan, Tunisia, Morocco and Algeria.” Ms. Hadeel Sakkijha, Arab Advisors Sr. Analyst commented. The Arab Advisors Group’s team of analysts in the region has produced over 1,330 reports on the Arab World’s communications, media and financial markets. The reports can be purchased individually or received through an annual subscription to Arab Advisors Group’s (www.arabadvisors.com) Strategic Research Services (Media and Telecom). To date, Arab Advisors Group has served over 500 global and regional companies by providing reliable research analysis and forecasts of Arab communications markets to these clients. Some of our clients can be viewed on http://www.arabadvisors.com/clients.htm -END-

1. Privatization levels in Arab Cellular
and Fixed Markets
Arab Advisors Group
Strategic Research Service - Communications
January 2009
Analyst: Hadeel Sakkijha
Arab Advisors Group
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Fax. 962.6.5828809
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Strategic Research Service to be used exclusively by its employees.

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3. Table of Contents
Section I: Executive Summary..................................................................... 2
Section II: Level of Privatization and Competition by Country…………………..4
The Algerian telecom market.................................................................... 5
Proportionate revenue by ownership type..................................................... 5
Ownership ............................................................................................... 5
The Bahraini telecom market.................................................................... 7
Proportionate revenue by ownership type..................................................... 7
Ownership ............................................................................................... 7
The Egyptian telecom market ................................................................... 8
Proportionate revenue by ownership type..................................................... 8
Ownership ............................................................................................... 8
The Jordanian telecom market ............................................................... 10
Proportionate revenue by ownership type....................................................10
Ownership ..............................................................................................10
The Kuwaiti telecom market ................................................................... 12
Proportionate revenue by ownership type....................................................12
Ownership ..............................................................................................12
The Lebanese telecom market ................................................................ 13
Proportionate revenue by ownership type....................................................13
Ownership ..............................................................................................13
The Moroccan telecom market ................................................................ 15
Proportionate revenue by ownership type....................................................15
Ownership ..............................................................................................15
The Omani telecom market..................................................................... 17
Proportionate revenue by ownership type....................................................17
Ownership ..............................................................................................17
The Palestinian telecom market.............................................................. 19
Proportionate revenue by ownership type....................................................19
Ownership ..............................................................................................19
The Qatari telecom market ..................................................................... 20
Proportionate revenue by ownership type....................................................20
Ownership ..............................................................................................20
The Saudi Arabian telecom market ......................................................... 21
Proportionate revenue by ownership type....................................................21
Ownership ..............................................................................................21
The Sudanese telecom market ................................................................ 23
Proportionate revenue by ownership type....................................................23
Ownership ..............................................................................................23

4. The Syrian telecom market ..................................................................... 25
Proportionate revenue by ownership type....................................................25
Ownership ..............................................................................................25
The Tunisian telecom market.................................................................. 26
Proportionate revenue by ownership type....................................................26
Ownership ..............................................................................................26
The UAE telecom market ........................................................................ 27
Proportionate revenue by ownership type....................................................27
Ownership ..............................................................................................27
The Yemeni telecom market ................................................................... 28
Proportionate revenue by ownership type....................................................28
Ownership ..............................................................................................28

5. List of Exhibits
Exhibit 1: Rankings by proportionate share of total fixed and cellular
revenues based on Q3 2008 revenues...................................................... 2
Exhibit 2: Algeria’s sector ownership and revenues distribution .................... 5
Exhibit 3: Bahrain’s sector ownership and revenues distribution ................... 7
Exhibit 4: Egypt’s sector ownership and revenues distribution ...................... 8
Exhibit 5: Jordan’s sector ownership and revenues distribution .................. 10
Exhibit 6: Xpress ownership structure (November 2008) ............................ 11
Exhibit 7: Kuwait’s sector ownership and revenues distribution .................. 12
Exhibit 8: Lebanon’s sector ownership and revenues distribution ................ 13
Exhibit 9: Morocco’s sector ownership and revenues distribution ................ 15
Exhibit 10: Oman’s sector ownership and revenues distribution .................. 17
Exhibit 11: Palestine’s sector ownership and revenues distribution ............. 19
Exhibit 12: Qatar’s sector ownership and revenues distribution .................. 20
Exhibit 13: Saudi Arabia’s sector ownership and revenues distribution........ 21
Exhibit 14: Sudan’s sector ownership and revenues distribution ................. 23
Exhibit 15: Syria’s sector ownership and revenues distribution ................... 25
Exhibit 16: Tunisia’s sector ownership and revenues distribution ................ 26
Exhibit 17: UAE’s sector ownership and revenues distribution ..................... 27
Exhibit 18: Yemen’s sector ownership and revenues distribution................. 28
Exhibit 19: Yemen Mobile ownership structure (November 2008) ............... 29
Exhibit 20: Sabafon’s ownership structure (November 2008) ...................... 29
Exhibit 21: HitsUnitel’s shareholders (November 2008) .............................. 30