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BSX Suspends Trading of KeyTech Common Shares and BTC Notes

13 September 2002

Hamilton, Bermuda: 13 September 2002 - The Bermuda Stock Exchange (BSX) has suspended trading in the Common Shares of KeyTech Limited (KeyTech) and in the 7 3/4% Notes of BTC (KeyTech's wholly owned subsidiary) this morning at the request of KeyTech. The suspension was requested in order to allow the market to absorb the import of the corporate actions approved by KeyTech's shareholders.

Earlier today KeyTech announced that its shareholders had passed the Resolution put to them at the Special General Meeting held late yesterday. The Resolution, inter alia, subdivided KeyTech's common shares four for one and created a new class of Preferred Shares which are to be offered to holders of the BTC Notes. Key Tech has indicated that an application will be made to the BSX for the listing of the Preferred Shares in due course.

The BSX anticipates lifting the suspension of trading in these securities on Tuesday, 17 September.