RIYADH, 10 October 2005 — The Tunisian government announced the intention to privatize the telecom sector by offering 35 percent for strategic partner. The Saudi Telecom Company (STC) along with 14 other telecom companies sent their intentions to the Tunisian government to acquire the stocks. On Oct. 7, the Tunisian government announced a list of companies qualified to acquire the stocks, which includes STC. After the announcement, STC will continue the economic feasibility study for this opportunity. STC is still searching for other outside investment opportunities.