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Celtel Zambia IPO:

About the offer:

Celtel Zambia Plc announced on 30 April 2008 that the Offer for shares in Celtel Zambia Plc had opened in Lusaka and the Prospectus had been published. The Company plans a primary listing on the Lusaka Stock Exchange.
The Zambian public, institutional investors in Zambia and selected international institutional investors can apply for shares in Celtel Zambia Plc at a price of ZMK 640 per share. Applications must be for a minimum of 700 shares and in multiples of 100 shares thereafter. The Offer will close at 17:00 on Tuesday 20 May 2008.
Zain (Mobile Telecommunications Company K.S.C.), the parent company of Celtel International B.V. (“Celtel International”) and the ultimate parent of Celtel Zambia, is offering for sale of 1,040,000,000 ordinary shares in Celtel, representing 20% of the share capital in Celtel Zambia. Celtel Zambia intends to list 100% of the share capital of the Company on the Lusaka Stock Exchange.

Timetable for Celtel Zambia Plc Share Offer:

Prospectus:

Copies of the prospectus are available during normal working hours from Monday to Friday at the offices of the sponsoring broker, Pangaea Renaissance Securities Limited, Farmers House at Central Park, Cairo Road, Lusaka. Copies of the prospectus can also be obtained from branches of Standard Chartered Bank Zambia Plc, Barclays Bank Zambia Plc, Stanbic Bank Zambia Limited, Zambia National Commercial Bank Plc and the office of the other brokers; Intermarket Securities Limited, Central Park, Cairo Road, Lusaka and Stockbrokers Zambia Limited, Design House, Cairo Road, Lusaka.

About Zain and Celtel International:

Mobile Telecommunications Company K.S.C., trading, under the name of Zain, is the fourth largest mobile telecommunications operator worldwide by geographic footprint and a leading mobile telecommunications provider in the Middle East and Africa operating in 22 countries and having more than 47.5 million customers. The company operates under the Zain brand name in Bahrain, Iraq, Jordan, Kuwait and Sudan. In Lebanon, the company operates as mtc-touch. Zain plans to commence operations in the Kingdom of Saudi Arabia in 2008. For more information visit www.zain.com.
Celtel International, a subsidiary of Zain,is a successful pan-African mobile operator offering telecommunications services and providing coverage to over 400 million people. Celtel International had more than 29 million customers as at 31 March 2008 and operates in 14 countries in Sub-Saharan Africa: Burkina Faso, Chad, Democratic Republic of Congo, Gabon, Kenya, Madagascar, Malawi, Niger, Nigeria, Republic of Congo, Sierra Leone, Tanzania, Uganda and Zambia. The company’s mobile telecommunications operations in Ghana will begin in 2008. Celtel International is committed to achieving sustainable development of telecommunications in Africa and “making life better” for its stakeholders through its products and services, corporate culture and social responsibility.
Celtel Zambia offers a full range of voice services, international roaming, pre and post paid subscriptions, SMS, GPRS/EDGE, Blackberry and mobile internet to individual, corporate and SME customers. For more information please visit www.celtel.com.

Early response to Offer from Zambian public exceeds expectations:

Celtel Zambia Plc (“Celtel Zambia” or “the Company”), Zambia’s largest mobile phone operator, is pleased to announce that it has already received an excellent response from retail investors in Zambia.
The Offer opened on Wednesday 30 April and has already been well received by the Zambian public. Early indications are showing that the response will be the largest ever seen in a Zambian offer for shares.
The Zambian public is reminded that the Offer closes at 17:00 on Tuesday 20 May 2008 and should make arrangements to get their application form into one of the receiving banks or stockbrokers as soon as possible.
Commenting on today’s announcement, David Venn, Managing Director of Celtel Zambia, said:
“We are delighted with the response we have received from the Zambian public so far. The number of applications received to date is more than at the same stage in any other share offer in Zambia. This is a true endorsement of the public’s support towards Celtel Zambia and we look forward to many more Zambians taking part”.

Cautionary:

Investors are advised to exercise caution when trading in a company’s shares and should seek professional advice of a broker or investment advisor for guidance until details of the offer are announced. Once a company’s shares are listed and begin to trade, the share price may rise and/or fall and investors may or may not receive the amount invested in any trade of the shares.

Source: Pangaea Renaissance Securities Limited
Sponsoring Broker
(Member of the Lusaka Stock Exchange
Regulated by the Securities and Exchange Commission)