No ceiling for STC shares

RIYADH, 29 December 2002 — No ceiling has been set for the STC share subscription for Saudis living in the Kingdom and abroad, according to a high ranking official of the Gulf International Bank, financial consultants of the Saudi Telecom Company. The subscription mechanism allows Saudis to subscribe to any number of shares at10 or its multiples. The final share allocation will be completed within a month after the closure of subscription on Jan. 6.