Nawras Board recommends first dividend of 50% of net profit

Omani Qatari Telecommunications Company, Nawras, announces that following a meeting of the Nawras Board on 23 February 2011, the Directors have decided to recommend to shareholders a dividend payment of Bzs 38 per share, representing 50% of net profit for the year 2010. The dividend payment is subject to approval of shareholders at the AGM on 26 March 2011.

The dividend is based on a full year's net profit for 2010 , following the successful IPO of 40% of the company's shares on the Muscat Securities Market in November 2010.

The Board of Directors also approved the audited financial statements for the year ended 2010 which will be published shortly.