Celtel Nigeria Announces Board Changes

· As Imaseka, Alai move on

Lagos, Nigeria : February 4, 2008: The management of Celtel Nigeria has announced the departure of Messrs Henry Imaseka and Tito Alai from the Board of the Company.

Their resignation was announced at a meeting of the Board held in Lagos today (Monday, February 4, 2008).

According to the Chairman of Celtel Nigeria , Mr. Gamaliel Onosode, “Mr. Imaseka has been very closely involved at the highest level with the beginnings of our operations as a Company.

“He not only placed his intellectual capacity and professional knowledge and material resources at the disposal of the Company but also worked extremely hard with his colleagues to get our business to where it is today”, Onosode stated.

The Chairman expressed the “deepest appreciation” of the Board and the Company as a whole to Mr. Imaseka for his contribution, adding that the former Director would remain a “great supporter” of the Company.

Mr. Tito Alai, who was formerly the Chief Commercial Officer of Celtel International, joined the Board of Celtel Nigeria following the acquisition of 65% of Vee Networks Limited by Celtel International.

Following the acquisition of Celtel International by the Zain Group (formerly MTC Group), Mr. Alai was appointed Chief Commercial of the Zain Group, which has necessitated his relinquishing his membership of the Nigerian Board.

In a related development, the Management of Celtel Nigeria has also announced the departure of Mr. Boye Olusanya from the Company effective 1st February 2008.

According to the CEO of Celtel Nigeria , Mr. Bayo Ligali, “Mr. Olusanya was a pioneer employee of the Company and was instrumental to the growth and progress made since the inception of Econet Wireless Nigeria Limited, which evolved into the Celtel Nigeria of today.

During his seven-year stint at the Company, Olusanya, at different times, served in the capacity of Chief Customer Care and Billing Operations Officer, Acting Chief Executive Officer and Deputy Chief Executive Officer.

Until his exit, he was spearheading the establishment of the Company’s Data Services business.

Mr. Ligali expressed management’s appreciation to Olusanya for his contributions to the business adding that “Boye will remain an integral part of this Company’s history and will continue to be linked to the growth of Telecommunications in Nigeria ”.

Olusanya holds a Bachelor of Science degree in Civil Engineering, with an M. Sc in Environmental Civil Engineering from Liverpool University and another M. Sc in Computer Science from Manchester University .

He has over fifteen years work experience and was one of the pioneer staff of what is today known as Celtel Nigeria at inception in February 2001.