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This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

KeyTech Limited Announces Opening of Exchange Offer

Hamilton, Bermuda: 30 September 2002 - KeyTech Limited is pleased to announce that the Exchange Offer to acquire all 73/4% Redeemable Notes of Bermuda Telephone Company Limited (a wholly owned subsidiary of KeyTech Limited) in exchange for 8% Cumulative Redeemable Convertible Preferred Shares of KeyTech on the basis of three Preferred Shares for every two BTC 73/4% Notes opened today, September 30th. An Information Memorandum has been sent by mail to all registered holders of the BTC 73/4% Notes.

LOM Capital has been appointed as Corporate Finance Advisor and Listing Sponsor and can be contacted by BTC Noteholders for further details on this exchange offering at (441) 292-9271 or by email at KeyTechOffer@lom.bm.

The Bermuda Stock Exchange has approved the listing of the 8% Cumulative Redeemable Convertible Preferred Shares of KeyTech, and the KeyTech Common Shares that can be issued on exercise of the conversion right attached to the Preferred Shares.