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Clarification On The Article "Sri Lanka Mtn Networks Mulls Ipo This Year"

05 July 2004

Type

 Announcement
Subject CLARIFICATION ON THE ARTICLE "SRI LANKA MTN NETWORKS MULLS IPO THIS YEAR"

Contents :

We refer to the article of Dow Jones Newswires dated 5 July 2004 entitled “Sri Lanka MTN Networks Mulls IPO this year”, wherein it was mentioned that “Sri Lanka mobile phone operator MTN Networks Ltd. is considering an initial public offer of shares this year to fund an expansion program...".


Telekom Malaysia Berhad ("TM") wishes to clarify that its wholly owned subsidiary, MTN Networks LTD ("MTN") is well-funded to manage its expansion plan, while keeping a close watch on the financial markets. No decision has been taken on an initial public offering of its shares on the Sri Lankan bourse.

MTN operates Dialog GSM, and is the leading cellular mobile service in Sri Lanka.

Last month, the company announced that it has surpassed the 1 Million subscriber mark, or over 50% of the country's cellular mobile subscriber base. TM has to date invested some USD150 Million in the country.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TELEKOM
Date Announced 5 Jul 2004
Category General Announcement
Reference No TM-040705-65314