Jan 26 (Reuters) - Algeria's main Islamist militant group has changed its name to al Qaeda after gaining the approval of Osama bin Laden, according to a statement posted on the Internet on Friday.

Here are some key facts on the group, which said it would now call itself Al Qaeda Organisation in the Islamic Maghreb:

* The Salafist Group for Preaching and Combat or GSPC, as it is known by its French acronym, aims to establish an Islamic state within Algeria and target Westerners.

* Founded in 1998, it eclipsed the Armed Islamic Group (GIA) in Algeria and is currently thought to be the most effective remaining armed group in Algeria. In October 2003, the group offered its support to the al Qaeda network.

* Its leader is currently Abdelmalek Droudkel, also known as Abu Mus'ab Abd el-Wadoud, who opposes President Abdelaziz Bouteflika's amnesty offer.

* The group's strength is believed to be around 500. Its claims of some 5,000 guerrillas are seen as an exaggeration. Its weaponry includes AK-47s, AK-57s, explosives and land mines.

* The group is thought to be financed through criminal activities, including smuggling of items such as vehicles, cigarettes, drugs and arms.

* The group conducted several attacks in Algeria late last year, including the bombing of a bus carrying foreign oil workers on Dec. 10. The attack was the first attack Algeria has seen against Westerners in years and two people were killed.

Sources: Reuters, Jane's World Insurgency and Terrorism, FAS - Federation of American Scientists, Global Security.

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