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.