RNS Number:6133R
Offshore Telecom PLC
03 November 2003



FOR IMMEDIATE RELEASE                                            3 November 2003

                              Offshore Telecom Plc

                              ISSUE OF NEW SHARES

Offshore Telecom Plc ("Offshore Telecom") has issued 21,095,123 new ordinary
shares to certain advisors to Offshore Telecom in settlement of amounts due to
them in relation to the withdrawal from the original satellite communications
activities.

Application has been made to admit the new shares to trading on AIM.


                                      Ends



For further information please contact:

Michael Frank, Chairman                                        Tel: 07802-787624
Ian Smith, Chief Operating Officer                             Tel: 07811-327054

Steve Liebmann, Bankside Consultants          Tel : 07802-888159 / 020-7444-4163


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