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KeyTech Acquires Interest In Two Companies

Hamilton, Bermuda: 28 December 2001€” Expanding on the Notes to its 6 Month Interim Unaudited Accounts, KeyTech today advised the Bermuda Stock Exchange (BSX) that, "In August 2001, KeyTech acquired a 23.2% interest in a Delaware corporation, LightTrade Inc., for $5 million. LightTrade Inc. is in the business of providing a network of neutral bandwidth pooling points in the USA and abroad.

If LighTrade is successful, it will consider expansion of its pooling points operations in London and other international markets, and will avail itself of KeyTech's experience in doing so.

Also in August 2001, KeyTech acquired a 25% interest in a new venture, Packet Exchange (Bermuda) Limited for $737,500. The company will provide competitive peering services to Internet Service Providers in Europe and USA, initially over leased networks. The business expects to expand into the broader provisioning of wide area data network services.

Both of these outlays are of interest to KeyTech as it expands its telecommunications horizon."