RNS Number:7301K
Colt Telecom Group PLC
06 May 2003


06 May 2003

                    COLT ANNOUNCES #38 MILLION BOND BUYBACK


COLT Telecom Group plc (COLT), a leading European provider of business
communication services, said today that it had purchased a further #38 Million
of COLT bonds for a cash outlay of #26 Million.

The purchases were undertaken by COLT Telecom Finance Limited as set out below.
COLT Telecom Finance Limited has no intention to sell the notes it has purchased
and arrangements may be made in due course to cancel such notes.


COLT may purchase additional bonds in the future.


The following bonds have been purchased.


$25.0 Million accreted principal amount of our $314 Million 12% Senior Discount
Notes due December 2006;

Euro1.9 Million accreted principal amount of our Euro306.8 Million 2% Senior
Convertible Notes due August 2005;

Euro7.7 Million accreted principal amount of our Euro295 Million 2% Senior Convertible
Notes due March 2006;

Euro4.8 Million accreted principal amount of our Euro368 Million 2% Senior Convertible
Notes due December 2006; and

Euro17.4 Million accreted principal amount of our Euro402.5 Million 2% Senior
Convertible Notes due April 2007.


In aggregate COLT has now purchased:


$108.9 Million accreted principal amount of our $314 Million 12% Senior Discount
Notes due December 2006;

#11.8 Million face amount of our #50 Million 10.125% Senior Notes due November
2007;

Euro12.8 Million face amount of our Euro76.7 Million 8.875% Senior Notes due November
2007;

Euro56.4 Million face amount of our Euro306.8 Million 7.625% Senior Notes due July
2008;

Euro57.8 Million face amount of our Euro320 Million 7.625% Senior Notes due December
2009;

Euro18.6 Million accreted principal amount of our Euro306.8 Million 2% Senior
Convertible Notes due August 2005;

Euro101.4 Million accreted principal amount of our Euro295 Million 2% Senior
Convertible Notes due March 2006;

Euro96.0 Million accreted principal amount of our Euro368 Million 2% Senior
Convertible Notes due December 2006; and

Euro119.4 Million accreted principal amount of our Euro402.5 Million 2% Senior
Convertible Notes due April 2007.


For further information contact:


John Doherty

Director Investor Relations

email: jdoherty@colt-telecom.com

tel: +44 20 7390 3681



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