Date: 02/11/2002

A total of (9,081) individual Jordanians bought (6,233,924) shares in Jordan Telecom’s initial public offering whereas (472,682) shares went to (163) Arab nationals. Ten foreign subscribers took (27,108) shares according to statistical data issued by the Securities Depository Center (SDC) of Jordan.

The highest number of shares went to (49) Jordanian entities which acquired (16,850,007) shares while six Arab entities bought a total of (2,631,913) shares.

On the other hand, the SDC has finalized the building of the shareholders’ register of Jordan Telecom Company in accordance with the technical specifications and the information and data required by the SDC where the SDC adopted the subscription form to facilitate the transfer of the ownership of securities.

Samir Jaradat, Chief Executive Officer of the SDC, said that the results of checking and verification process exceeded the expectations as the percentage reached 98 per cent identified and authenticated subscribers out of (9,309) subscribers. This equals 99 per cent of the securities issued for public and private offering subscribed to which amounts to (26,215,634) shares. This high percentage will safeguard the ownership of securities and facilitate its trading in the future.

Jaradat also commended the effective role undertaken by the underwriter Arab Jordan Investment Bank for preparing the shareholders’ register for Jordan Telecom Company in accordance with the requirements of the SDC containing the names of the subscribers and all the information and data related to each subscriber. The SDC verified this information and data through its electronic systems especially prepared for this purpose. The SDC provided the Arab Jordan Investment Bank with the results of the verification process and the latter, accordingly, made the necessary corrections to information and data.

The execution of the transfer of securities ownership included in the public and private offering of part of the Government’s shares in the Jordan Telecom Company is considered part of the responsibilities of the SDC since the SDC is the only entity in the Kingdom authorized to transfer the ownership of securities.

The SDC transferred the ownership of securities to the subscribers in accordance with the final registers supplied to the SDC by the underwriters concurrently with the payment of the subscription revenues to the Government.

Jaradat also stated that affirmation of allocated shares have been issued for foreign subscribers as supplied in the registers delivered to the SDC by the foreign underwriter, JP Morgan, through its agents the local and foreign banks. The SDC has enabled the Jordan Telecom Company to link directly with it to complete the process of authenticating shareholders on the SDC database. This will make it easier for investors in the future to invest in the Jordan Telecom Company shares upon being listed on the Amman Stock Exchange.