RNS Number:1037I
Offshore Telecom PLC
27 February 2003




FOR IMMEDIATE RELEASE                                         27th February 2003




                              OFFSHORE TELECOM PLC



                         PLACING OF NEW SHARES FOR CASH


Offshore Telecom Plc ("Offshore Telecom"), the AIM quoted provider of integrated
telecommunications services for the offshore and off-the-beaten track mobile
satellite phone markets, has raised #175,000 through the placing of 50 million
new Ordinary shares in Offshore Telecom at 0.35p per share with St. Ann's
Nominees Limited.



Together with shares already held, St. Ann's Nominees now holds a total of 57
million Ordinary shares in Offshore Telecom, representing 13.5% of the enlarged
capital.  These shares are held for the beneficial interest of Mr. Ian Smith.





                                      Ends






For further information, please contact :


David Bland, Chief Executive, Offshore Telecom Plc     Tel : +44 (0)23 8045 8262

Steve Liebmann                                          Tel : +44(0) 7802 888159




                      This information is provided by RNS
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