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Palestinian Telecommunications clarification about the published news in newspapers

2012-09-26

Based on Palestine Capital Market Authority’s request for Palestine Telecommunications to confirm or deny the reported news in local newspapers regarding signing an agreement with the Turkish company “PANTEL” and the CEO’s announcement about not affecting the year’s dividends distributions following the drop in profits. PALTEL clarified that the signed agreement is a cooperative one that aims to provide the company with extra capacity in order to offer better internet services to consumers and to get rid of the Israeli domination on the quality. PALTEL cleared out that this agreement will not affect the financial and operating performance, therefore will not affect the share’s price. As for the CEO’s announcement, PALTEL highlighted that distributions not to be affected is the board of directors and the company’s status, but doesn’t relate to any official decision because the final resolution of dividends’ proportions is taken at the end of the year and after financial results revision.