Telecom Egypt announces new acting CEO

Cairo, 13 August 2012: Telecom Egypt (TE) (Ticker: ETEL.CA; TEEG.LN), today announced the appointment of Mr. Elnawawy as the new acting Chief Executive Officer (CEO) & Managing Director, effective immediately. Alongside his new role, Mr. Elnawawy will continue to perform the responsibilities of his original position as the SVP & Chief Strategy Officer.‪ ‪Mr. Elnawawy has over 20 years' experience in the telecommunications industry, having joined the Telecom Egypt Group in 2001. From April 2009 Mr. Elnawawy has been the company's Chief Strategy Officer and prior to this was the Chairman and Managing Director of TE Data, SAE.‪Commenting on the appointment, Mr. Akil Beshir, Chairman of Telecom Egypt, said:"Through this continued period of change, it is important that TE has a strong and experienced leader to grasp the opportunity which exists. Through his hard work, drive and continued commitment to TE, Mr. Elnawawy has proven his ability to inspire and motivate a winning team."‪Mr. Elnawawy new acting CEO and Managing Director of Telecom Egypt, commented:"With the support of TE's strong and focused management team, I look forward to working to deliver against our strategic objectives, notably leading state-of-the-art broadband services in Egypt, continuing to capitalise on our network and geographic position at home and overseas as well as enabling and stimulating the growing consumer demand for mobile services." ‪Separately, following the approval of the company's OGM held Thursday 9 August, 2012, Telecom Egypt has announced the re-election of Mr. Akil Beshir as the Chairmain of the Board, for a new term of the upcoming three years commencing from August 12, 2012.

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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 7.6 million subscribers as at 30 June 2012.

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.