Proposed Resolutions for OGM

te announces proposed resolutions for OGM

Proposed dividend distribution of EGP 1.0 per share

Cairo, March 12 2014: Telecom Egypt (te) (Ticker: ETEL.CA; TEEG.LN) has announced that its Board of Directors held a meeting on 11th March 2013 to approve the proposed resolutions for consideration at the next Ordinary General Assembly.

During the meeting, the Board of Directors approved the following:

· The Standalone and Consolidated financial statements and auditors report for the financial year ended 31st December 2013, prepared in accordance to the Egyptian accounting standards, to be presented at the next Ordinary General Assembly.

· The Audit Committee report for the fourth quarter ended 31st December 2013.

· The Board of Directors' report on company activities for the period ended 31st December 2013, to be presented at the Ordinary General Assembly.

· The invitation for an Ordinary General Assembly meeting, to be held on 31st March 2013.

The resolutions approved for proposal at the next Ordinary General Assembly, include:

· A dividend distribution of EGP 1.0 per share, for the financial year ended 31st December 2013.

· The appointment of an auditor and proposed annual fees for the financial year started 1st January 2014 and ending 31st December 2014.

· A statement detailing the donations disbursed during the financial year ended 31st December 2013, and a recommendation to authorize the Board of Directors to make donations during the financial year ending 31st December 2014.

· The attendance and transportation allowance for the Board of Directors for the financial year ending 31st December 2014.

· A mandate authorizing the Board of Directors to take all necessary actions on the sale of owned and unused land plots not relevant to the company's current or future activities, only if other integrated investment opportunities are made available.

Ends

For further information:

Mohamed Kamal

General Manager for Investor Relations

Tel: +202 3131 5219

Fax: +202 3131 6115

Notes to Editors:

Within this statement, we may make forward-looking statements regarding future events or the future performance of the Company. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should be aware that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. When relying on forward-looking statements, you should carefully consider the political, economic, social and legal environment in which Telecom Egypt operates. Such forward-looking statements speak only as of the time of this release today. Accordingly, Telecom Egypt does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise other than as required by applicable laws, the Listing Rules or Prospectus Rules of the United Kingdom Listing Authority, the Egyptian Financial Supervisory Authority or The Egyptian Exchange. The documents filed from time to time with these authorities may identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.

About Telecom Egypt

Telecom Egypt (TE), Egypt's incumbent telecommunications operator, started its operations in 1854 with the first telegraph line in Egypt. Then it was corporatized in 1998 to replace the former Arab Republic of Egypt National Telecommunication Organization(ARENTO).

The Company is the largest provider of fixed-line services in the Middle East and Africa with 6.8 million subscribers as at 30 September 2013.

TE provides retail telecommunication services including access, local, long distance and international voice, Internet and data, and other services. The company also provides wholesale services including bandwidth capacity leasing to ISPs, and national and international interconnection services. Telecom Egypt's services also include the provision of narrowband and broadband internet access through its subsidiary TE Data. TE Data has active operations in Egypt and Jordan.

TE currently participates in the mobile segment in Egypt by providing mobile interconnectivity through its current, increased 44.95% holding in Vodafone Egypt, one of the three existing Egyptian mobile operators. TE's shares and GDRs (Ticker: ETEL.CA; TEEG.LN) are traded on the Egyptian Exchange and the London Stock Exchange.