RNS Number:6567I
Offshore Telecom PLC
12 March 2003



FOR IMMEDIATE RELEASE                                            12th March 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 #130,000 through the placing of 37,142,858
million new Ordinary shares in Offshore Telecom at 0.35p per share.


                                      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
            The company news service from the London Stock Exchange
END
IOEQLLFFXXBXBBE