SOURCE: Digicel

November 28, 2007 08:30 ET

Digicel Contributes 0.7% Growth to National GDP of Papua New Guinea

Recent Entry of Digicel Into Papua New Guinea Spurs Economic Growth

PORT MORESBY, PAPUA NEW GUINEA--(Marketwire - November 28, 2007) - Digicel, the fastest-growing mobile operator in the Pacific, today announced that it has contributed 0.7% growth to Papua New Guinea's Gross Domestic Product (GDP)(1) since launching as the second mobile operator on July 20, 2007.

In his recent 2008 budget presentation to Parliament, the Papua New Guinea (PNG) Minister for Treasury and Finance, Patrick Pruaitch, highlighted that the "significant expansion" of mobile telecommunications brought a major revision and positively impacted the country's GDP in 2007. He also added that a further 0.7% growth of GDP is expected for 2008, under the assumption competition in the mobile telecommunciation sector continues to flourish.

During the last six months, Digicel has invested about US$150 million in the country, generated 300 regular jobs and created indirect employment for about 4,000 Papua New Guineans nationwide. The company is expected to invest a total of US$340 million within the next three years.

Digicel Pacific Chairman Denis O'Brien said, "We are proud that Digicel PNG is already contributing so significantly to the economy in Papua New Guinea and proven that open competition is good for everyone. It is great news not only for our management and employees but especially for the country. Digicel has a long term commitment to Papua New Guinea and we are very optimistic about the further potential for growth."

Since Digicel's entry into the PNG market, the price of calls has decreased by as much as 60%. Digicel has extensive network coverage throughout Papua New Guinea and has introduced coverage to rural areas for the first time ever. Digicel offers a wider range of handsets at affordable prices and the most competitive rates.

To date, Digicel Pacific has launched GSM services in Samoa and Papua New Guinea, representing its continued commitment to roll out a seamless, pan-South Pacific GSM network. The Governments of Fiji, Vanuatu and several other countries in the Pacific have committed to license Digicel in the near future.

About Papua New Guinea
Location: Oceania, group of islands occupying the eastern half of the
island of New Guinea
Population: 5,670,544 (July 2006)
Language: English and Melanesian Pidgin
Economy: Agriculture and Mining

About Digicel Pacific Limited

Since its launch in the Pacific in November 2006, Digicel has become the fastest-growing mobile operator in the Pacific with current operations in Samoa and Papua New Guinea, as well as commitments from the Governments of Fiji, Vanuatu and several other countries in the Pacific. Digicel is renowned for competitive rates, unbeatable coverage, superior customer care, a wide variety of products and services, and state-of-the-art handsets.

Digicel Pacific is the proud sponsor of several national rugby teams across the Pacific including, Fiji Rugby, Digicel Fiji Sevens, Digicel Pacific Islanders Rugby Team and the Digicel Pukpuks.

Digicel Pacific is a sister company to Digicel Group in the Caribbean, which launched in 2001 and is now the largest GSM provider in the Pan Caribbean region with 5.7 million customers and employing in excess of 3500 people.

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(1) GDP is the total market value of goods and services produced by workers and capital within the country during a given period (usually one year).

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