RIYADH, 7 March 2004 — Nokia and Advanced Electronics Company (AEC) a Riyadh-based company, have signed a maintenance contract for GSM advanced networks. Under the contract AEC will test, repair and provide full logistic support for Nokia GSM networks for the Saudi Telecom Company (STC).

The contract was signed on behalf of Nokia by Pentti Karjalainen, country director of Nokia, and on behalf of other partners by Dr. Ghassan Al-Shibl, president and CEO of AEC, and Saud Al-Dowaish, STC vice president for GSM Network.

The contract will involve AEC contributions in the logistics, testing and repair of the STC GSM Network in various regions in the Kingdom.

Speaking on the occasion, Dr. Ghassan said: “This contract was awarded to AEC as a result of Nokia’s recognition of the outstanding capability that AEC possesses in products and services according to the highest international quality standards. This contract reaffirms and demonstrates our commitment and outstanding capabilities of our work force, the majority of whom are Saudis. It also reflects the clear vision of STC’s thrust to support local capability.”

On his part, Karjalainen said: “We are in the process of building a strong strategic relationship with AEC, which is a testimony to the high quality products and services and track record of success.”

He added: “By teaming with qualified local partners like AEC, Nokia can better serve the needs of our Saudi customers. This contract comes as a result of Nokia’s commitment to transfer high technology to the Kingdom of Saudi Arabia.”

Nokia, described as the world leader in mobile communications, has been the driving force behind the growth and sustainability of the broader mobility industry. It is dedicated to enhancing people’s lives and productivity by providing easy-to-use and secure products like mobile phones, and solutions for imaging, games, media, mobile network operators and businesses.

Karjalainen said Nokia networks is a leading provider of network infrastructure, service delivery platforms and related services to mobile operators and service providers. Focusing on the GSM family of technologies, the group aims at leadership in GSM, EDGE and WCDMA radio networks.

Set up in 1988, AEC has grown to be the leading electronics manufacturer in the region currently employing more than 75 percent Saudi nationals in engineering, manufacturing, and other challenging positions. AEC is involved in a number of important national telecommunications and defense projects in the Kingdom and has been certified as a quality supplier to numerous international companies.