CMA Approves STC’s Capital Hike

RIYADH, 20 February 2006 — The Saudi Capital Market Authority (CMA) approved yesterday the request of the Saudi Telecom Co. (STC) to increase its capital by issuing one bonus share for every three outstanding shares. After the approval, STC’s capital will increase from SR15 billion ($4 billion) to SR20 billion ($5.3 billion). The capital hike will increase the number of STC’s shares from 300 million to 400 million shares.