Enters the league of five largest mobile operators in the world

Airtel brand goes truly global with a footprint covering 1.8 billion people

Reiterates commitment to Africa and promises affordable services,
deeper coverage and superior brand experience

Thanks the Governments of 15 African countries for their
overwhelming support

New Delhi, June 8, 2010: Bharti Airtel Limited (“Bharti”) today took a giant step towards becoming a global emerging market telecom operator by completing the acquisition of Zain Group’s (“Zain”) mobile operations in 15 countries across Africa for an enterprise valuation of USD10.7 billion. With this acquisition, Airtel brand will go truly global with a footprint that covers over 1.8 billion people. Bharti will be among the five largest mobile operators in the world with operations in 18 countries across Asia and Africa and a customer base of over 180 million.

The transaction is the largest ever cross-border deal in emerging markets and will result in combined revenues of over USD 12.4 billion and EBITDA of over USD 4.7 billion, based on the last audited results. Bharti is now among the five largest mobile operators in the world.

Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti said, “We are delighted at the closure of this transformational deal for India and Bharti. We would like to express our deep gratitude and thank the governments of all the fifteen countries as well as the government of India for their overwhelming support to this landmark event. This will further strengthen the historic Indo-Africa economic & social ties and provide a big boost to South-South cooperation.

Bharti, which has been working towards its vision of expansion into Africa, is committed to contributing to the growth of telecom in the region by taking networks deep into these countries and providing affordable services that touch the common man. We also promise our customers in Africa a superior brand experience and a portfolio of innovative products & services.

We would like to welcome over 6500 talented and highly qualified professionals to the Bharti family and look forward to working with them to take these operations from strength to strength. We would like to thank the Zain team for their professionalism, which enabled us to close this transaction in a record time.”

Mr. Asaad Al-Banwan, Chairman, Zain, said “We wholeheartedly wish Bharti Airtel great success in continuing the development of telecommunications across the African continent, and we are confident that the people of Africa will welcome such a committed and reputable telecom powerhouse.”

Bharti’s acquisition of Zain’s African mobile services operations covers 15 countries with a total customer base of over 42 million. The total population base covered is over 450 million with telecom penetration of approximately 32%. The countries in which Bharti has acquired the operations are - Burkina Faso, Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda, and Zambia. Zain is the market leader in 10 of the 15 countries and second in 4 countries.

Bharti was advised on the transaction by Standard Chartered Bank as the Lead Advisor, Barclays Capital as the Joint Lead Advisor and SBI Group as the Lead Onshore Advisor. Global Investment House, Kuwait was the Regional Advisor.

Standard Chartered Bank, Barclays, SBI Group, ANZ, BNP, Bank of America Merrill Lynch, Credit Agricole CIB, DBS, HSBC, Bank of Tokyo Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation are Bharti’s financiers for the deal.

Herbert Smith LLP was International Legal Advisor to Bharti, Milbank Tweed Hadley & McCloy LLP was the Financing Arrangement Legal Advisor and AZB & Partners was the Indian Legal Advisor. Ernst & Young was the Accounting advisor.

About Bharti Airtel Limited

Bharti Airtel Limited, a group company of Bharti Enterprises, is a leading emerging markets telco with operations in 18 countries across Asia and Africa. The company has over 180 million customers across its operations.

Bharti Airtel has been ranked among the six best performing technology companies in the world by Business Week. Bharti Airtel is structured as four strategic business units - Mobile, Telemedia, Enterprise and Digital TV. The mobile business offers services in 18 countries across Asia and Africa. The Telemedia business provides broadband, IPTV and telephone services in 89 Indian cities. The Enterprise business provides end-to-end telecom solutions to corporate customers and national and international long distance services to carriers. The Digital TV business provides DTH services across India. All these services are provided under the Airtel brand (excluding Bangladesh and Africa). Airtel's international network infrastructure includes ownership of the i2i submarine cable system and consortium ownership in five global undersea cable systems, SEA-ME-WE 4, EIG, I-ME-WE, AAG and UNITY. For more information, visit www.airtel.in

For further information
Senjam Raj Sekhar - raj.senjam@bharti.in

Set to Enter Africa – one of the few remaining global high growth markets

• Bharti Airtel is set to become world’s fifth largest wireless company with operations across 18 countries • Bharti’s total customer base to be around 179 million and includes Zain Africa’s mobile operations in 15 countries with over 42 million customers • Bharti’s telecom footprint to cover 1.8 billion people across Asia and Africa – second largest among telcos

Amsterdam, March 30, 2010: Bharti Airtel Limited (“Bharti”), Asia’s leading telecommunications service provider, today announced that it has entered into a legally binding definitive agreement with Zain Group (“Zain”) to acquire Zain Africa BV based on an enterprise valuation of USD 10.7 billion.

Under the agreement, Bharti will acquire Zain’s African mobile services operations in 15 countries with a total customer base of over 42 million. Zain is the market leader in ten of these countries and ranks second in four countries. With this acquisition, Bharti Airtel will be the world’s fifth largest wireless company with operations across 18 countries. Bharti group’s global telecom footprint will expand to 21 countries along with the operations in Seychelles, Jersey, and Guernsey. The company’s network will now cover over 1.8 billion people - the second largest population coverage among Telcos globally.

Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel said, “This agreement is a landmark for global telecom industry and game changer for Bharti. More importantly, this transaction is a pioneering step towards South South cooperation and strengthening of ties between India and Africa. With this acquisition, Bharti Airtel will be transformed into a truly global telecom company with operations across 18 countries fulfilling our vision of building a world-class multinational.

Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel said, “This agreement is a landmark for global telecom industry and game changer for Bharti. More importantly, this transaction is a pioneering step towards South South cooperation and strengthening of ties between India and Africa. With this acquisition, Bharti Airtel will be transformed into a truly global telecom company with operations across 18 countries fulfilling our vision of building a world-class multinational.

We are excited at the growth opportunities in Africa, the continent of hope and opportunity. We believe that the strength of our brand and the historical Indian connect with Africa coupled with our unique business model will allow us to unlock the potential of these emerging markets. We are committed to partnering with the governments in these countries in taking affordable telecom services to the remotest geographies and bridging the digital divide. I would also like to compliment the Zain group for building world-class operations in Africa and we have enjoyed working with them on this transaction.”

Mr Mittal further added, "The extremely tight time lines and the enormity of the task posed a real challenge. Bharti was able to achieve this important milestone through much hardwork and support from SingTel and the external advisors. Appreciation is in order for all the team members involved in this transaction."

Mr. Asaad Al Banwan, Chairman, Zain Group said, “Since we acquired Celtel in 2005, we have grown substantially to become one of Africa’s leading mobile operators, and we are proud of the contribution Zain Africa has made to the development of telecommunications across the continent."

He added, “Bharti Airtel has a fantastic track record in running successful operations in the emerging markets and we are delighted that the African telecom asset that we so assiduously built is becoming part of such a committed and reputable telecom powerhouse. We wish Bharti Airtel all the very best for their future success in Africa.”

Zain Africa BV has mobile operations in the following 15 countries - Burkina Faso, Chad, Congo Brazzaville, Democratic Republic of Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda, and Zambia. The total population of these 15 countries stands at over 450 million with telecom penetration of approximately 32%.

With this acquisition Bharti’s total customer base will increase to around 179 million in 18 countries. Bharti launched mobile services in India in 1995, Sri Lanka in 2009 and acquired Warid in Bangladesh in January 2010.

Standard Chartered Bank is the Lead Advisor to Bharti on this transaction. Barclays Capital is the Joint Lead Advisor and SBI Group is the Lead Onshore Advisor. Global Investment House KSCC is the Regional Advisor to Bharti on this transaction.

About Bharti Airtel Limited Bharti Airtel Limited, a group company of Bharti Enterprises, is among Asia’s leading integrated telecom services providers with operations in India, Sri Lanka and Bangladesh. The company has an aggregate of around 137 million customers across its operations. Bharti Airtel has been ranked among the six best performing technology companies in the world by BusinessWeek.

Bharti Airtel is structured as four strategic business units - Mobile, Telemedia, Enterprise and Digital TV. The mobile business offers services in India, Sri Lanka and Bangladesh. The Telemedia business provides broadband, IPTV and telephone services in 94 Indian cities. The Enterprise business provides end-to-end telecom solutions to corporate customers and national and international long distance services to carriers. The Digital TV business provides DTH services across India. All these services are provided under the Airtel brand. Airtel’s national high-speed optic fiber network currently spans over 118,337 Rkms across India. Airtel's international network infrastructure includes ownership of the i2i submarine cable system and consortium ownership in five global undersea cable systems, SEA-ME-WE 4, EIG, I-ME-WE, AAG and UNITY. For more information, visit www.airtel.in

For further information:
Senjam Raj Sekhar – raj.senjam@bharti.in
Ashutosh Sharma – ashutosh.s@bharti.in

Further to our announcement regarding the acquisition of Zain Africa BV, we would like to report that the due diligence has been completed.

Bharti is now working with Zain towards finalizing the definitive agreements which will address all key terms and findings arising out of the due diligence.

Definitive agreements are expected to be signed soon. Upon signing, the parties will move towards obtaining any required approvals

Bharti has already secured the entire financing requirement of USD 8.3 Billion for this transaction.

New Delhi, March 21, 2010: Bharti Airtel Limited (“Bharti”) is pleased to announce that the entire financing requirement of USD 8.3 billion for the proposed acquisition of Zain’s African unit (Zain Africa BV) has been successfully tied-up. The financing was oversubscribed, with major international banks committing to underwrite the total amount.

For USD 7.5 billion of financing, our Mandated Lead Arranger (MLA) and Lead Advisor is Standard Chartered Bank, our MLA and Joint Lead Advisor is Barclays, our MLA and Lead Onshore Advisor is SBI Group and other MLAs and Co-Advisors are ANZ, BNP, Bank of America Merrill Lynch, Credit Agricole CIB, DBS, HSBC, Bank of Tokyo Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation.

In addition to the USD Financing, SBI Group have committed upto USD 1 billion equivalent INR to Bharti which would also cover any associated transaction costs. Global Investment House KSCC is serving as our Regional Financial Advisor on this transaction.

New Delhi, February 16, 2010: Further to the announcement made in connection with the proposed acquisition of Zain Group’s African assets:

The total agreed Enterprise Valuation of USD 10.7 billion is likely to result in a total payout of around USD 9.00 billion (which includes any loans payable by the operating companies to Zain Group) based on the estimated net debt of approximately USD 1.7 billion as on 31st December 2009.

It has been agreed that a sum of USD 700 million out of the total payable amount would be paid after one year from closing.

The parties have also agreed to a break-fee of USD 150 million payable by either side on terms and conditions customary to a deal of this nature and size.