South Asia will continue to be home to some of the fastest growing wireless markets in the world. We continue to believe that the fastest growing wireless market in the world from 2007 - 2010 by subscribers will be India. We have revised our forecast for subscriber growth in the India market to 128.8% over the forecast period (previously 102.8%).

The number of subscribers will increase from our projected 230.3 million in 2007 to 526.8 million in 2010. India will replace the United States as the second largest wireless market in the world after China sometime in 2008.

- South Asia will also continue to be home to some of the lowest wireless service charges in the world. We are now expecting Pakistan to have the lowest ARPU levels in the world (previously it was Bangladesh). Operator-wide ARPU levels in Pakistan are expected to reach US$ 3.41 in 2007 and fall to US$ 3.09 in 2010, a decline of -11.5% over the forecast period. In 2010, we are forecasting that Instaphone in Pakistan will have the lowest ARPU in the world of only US$ 2.00 per month.

- South Asia will also see the fastest growing operator (by subscribers) in the world. Our model is forecasting that Warid in Bangladesh will see the highest level of subscriber growth among the 213 operators in our coverage list. Subscriber levels will rise by a whopping 551% between 2007 and 2010 for this operator.