ETE Euro.Telecom

RNS Number:7426G
European Telecom PLC
11 July 2001


FOR IMMEDIATE RELEASE

11 July 2001
EUROPEAN TELECOM PLC ("ET" or the "Group")
DISPOSAL OF ET VOICE LIMITED COMPLETED, MANAGEMENT CHANGES

Disposal of ET Voice Limited completed


On 28 June 2001, the Board of ET announced it had entered into a conditional
agreement to divest its 80% interest in ET Voice Limited to Domain Dynamics
(Holdings) Limited ("Domain"), (the "Agreement").

The Agreement was conditional, inter alia, on Domain completing a fundraising
of #501,372.  All conditions have been satisfied and the Agreement has now
been completed.  ET has not participated in Domain's fundraising and its
resulting shareholding in the enlarged share capital of Domain is 6.4%.

Management changes

Don Gunn, the Group Finance Director, has indicated his desire to leave the
Group and it is anticipated that Don will leave at the end of July.  The Board
is grateful to Don for his contribution over the last 12 months, particularly
his involvement in reaching the agreement in principle with the Royal Bank of
Scotland to provide banking and debt facilities to ET for the next 12 months.

The Board is very pleased to announce the appointment of Mark Shuttleworth as
Group Finance Director.  Mark, who will join ET on Monday 16 July 2001, was
previously Finance Director of Ora Telecom Limited, a leading mobile phone
accessory manufacturer, where he worked extensively with mobile phone
operators including Orange, BT Cellnet and Vodafone.  Prior to this, he was
Finance and Operations Director for Europe, Middle East and Africa with the US
Group, Sensormatic Electronics Corporation.  Further details of his background
and experience are set out at the end of this release.

David McKinney, Group Managing Director of ET, commenting on the appointment
of Mark Shuttleworth, said:

"With the departure of Don Gunn, the Board and I recognise the need to appoint
a Group Finance Director with the experience of successfully taking a company
into profitability, through the generation of significant margin improvements
and the continued implementation of operating efficiencies.

Mark has a proven track record and brings strong financial reporting and
management controls, along with experience of dealing with financiers and
shareholders.  He is also well placed to assist in the rebuilding of ET into a
profitable group, focussing on supplying value added fulfilment services for
the telecoms and converging industries"


For further information please contact:
European Telecom Plc
David McKinney, Group Managing Director
Tel: +44 (0) 1753 808013/4
Flagship Consulting
Andy Berry/Ben Steele
Tel: +44 (0) 20 7299 1500


Notes to Editors:

Mark Shuttleworth (38) has spent the last eight years in the mobile phone
accessories and electronic products industry. Mark joins European Telecom from
Ora Telecom Limited, ("Ora Telecom"), a leading mobile phone accessory
manufacturer, where he worked extensively with mobile phone operators
including Orange, BT Cellnet and Vodafone. Mark played a leading role at Ora
Telecom in achieving objectives set by the venture capitalist shareholder to
stabilise the business and give solid foundation for growth within a targeted
timeframe.

Prior to his period with Ora Telecom, Mark was the Finance and Operations
Director for Europe, Middle East and Africa with Sensormatic Electronics
Corporation ("Sensormatic").  Sensormatic are a global manufacturing and
distribution company specialising in electronic security, quoted on the New
York Stock Exchange.  Mark played a leading role with Sensormatic in
facilitating the divestment of  non core businesses through trade sales,
management buy outs and asset sales and rebuilding the core business into a
focused, cohesive business unit which had the capability to grow rapidly in
terms of revenue and profitability.

Prior to his period with Sensormatic, Mark worked with PricewaterhouseCoopers
as a Senior Manager in Corporate Restructuring, where he led various strategic
acquisition reviews, viability studies and receiverships on behalf of
shareholders and lending institutions.  Mark was also involved in disposing of
numerous companies after appropriate restructuring of the operating cost base.

Mark completed a BSc (Hons) Accountancy and Computing (2:1) at De Montfort
University and is also an ACA.

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