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KeyTech Announces Investment Write Off

06 March 2002

Hamilton, Bermuda: 5 March 2002€”Keytech Limited has today advised the Bermuda Stock Exchange (BSX) that €˜one of its investments, namely $5.1 million in Lightrade Limited will be written off.'

The announcement went on to note that,' Lightrade was in the business of providing neutral pooling points for bandwidth trading. Lightrade had been hard hit by the telecommunications recession, the World Trade Centre tragedy and the demise of Enron, the leading bandwidth trader. Lightrade filed for Chapter 7 bankruptcy in Delaware USA on 1st march 2002."