STC Not Using Equity Method in Arcil Group Investment

01/01/2014 Tadawul

Further to the announcement by Saudi Telecom Company dated December 31, 2013 regarding the signing of the amendment to the BGSM shareholders agreement with BGSM and the other shareholders of BGSM about Aircel Group (a subsidiary of BGSM), the STC would like to clarify that it will not account for the investment in the Aircel Group using equity method going forward and the results of STC will not be impacted by the results of Aircel group in the future.

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