MCT Corp. Announces Bid for Iraq Mobile Telecom Networks

Alexandria, VA – MCT Corp., an Alexandria, Virginia based company announces the submission of its bid for a license to operate a GSM cellular telephone network in Iraq. MCT is leading an American/Iraq consortium in its bid for this license to develop advanced communications solutions that meet the needs of the Iraqi people as rapidly as possible.

MCT has founded and developed many mobile telephone ventures in Central Asia and other countries including most recently, Afghanistan. Since 1991, MCT has participated in the development of 29 international ventures serving populations of over 130 million. MCT's management has been successfully involved in mobile telecommunications since the beginning of the cellular industry in the United States in 1982 and developed, through Charisma Communications, mobile systems in eleven of the ninety largest cities in the U.S.

MCT's American partner in the American/Iraqi consortium is New Bridge Strategies, LLC, a unique company that was created specifically with the aim of evaluating and assisting with business opportunities in the Middle East following conclusion of the U.S.-led war in Iraq. New Bridge Strategies brings the unique skills and experience to provide leadership to the consortium in the United States and on the ground in Iraq. The principals of New Bridge have long standing relationships in the region.

The Iraqi consortium members are led by the Al-Bunnia family who are a leading commercial group in Iraq with over 80 years experience in Iraq developing and owning industries and commercial enterprises employing vast workforces. The Al-Bunnia Group is experienced in managing complex relationships with Iraq civil authorities at all levels. Their infrastructure operation, which is the largest civil contracting business in Iraq, is presently undertaking large civil construction projects for the rebuilding of the country. Other Iraqi consortium members include prominent families and individuals from diverse backgrounds and business interests in all of the country.

Public Warehousing Company of Kuwait (PWC) is a financial and logistics partner of the consortium. PWC is a public company on the Kuwait Stock Exchange and brings access to international capital markets as well as the most sophisticated worldwide logistics services available in the Middle East.

MCT's bid for the mobile license in Iraq, if successful, will bring necessary communications services to the people quickly and provide means for the redevelopment of the infrastructure in the nation. The consortium will operate in Iraq as Babylon Telecommunications Company (Babtel) and through MCT's relationships will provide roaming services for cell phone users both coming in and going out of Iraq with up to 130 cell phone service providers throughout the world.


This press release may include forward-looking statements that involve risk and uncertainty. Although MCT believes its expectations reflected in such forward-looking statements are based on reasonable assumptions, no assurance can be given that such projections will be fulfilled. Any such forward-looking statement must be considered along with knowledge that actual events or results may vary materially from such predictions due to, among other things, political, economic or legal changes in the markets in which MCT or PWC does business, competitive developments or risks inherent in the company's business plan.

Contact:
MCT Group, Inc.
Aric Holsinger
Email: aholsinger@mctcorp.net
Tel: 703 683-8726