PJT Project Telecom

RNS Number:7977S
Project Telecom PLC
20 October 2000

Project Telecom plc - 20 October 2000

Cazenove & Co. announces that on 19 October 2000 it exercised the
over-allotment option (the "Over-Allotment Option") in respect of 7,500,000
ordinary shares of 0.25 pence each in the capital of Project Telecom plc (the
"Company") referred to in the listing particulars dated 15 September 2000
relating, amongst other things, to the offering of shares in the Company, and
that the stabilisation period has now ended.

Accordingly, Cazenove & Co. has ceased to be interested in such 7,500,000
ordinary shares comprised in the relevant share capital of the Company for the
purpose of Part VI of the Companies Act 1985 and, accordingly, no longer has a
notifiable interest in that share capital.

Pursuant to the Over-Allotment Option, the following directors, their
immediate families and persons connected with the directors, have sold
ordinary shares in the Company:

Director Number of Number of Percentage of

ordinary ordinary issued ordinary

shares sold shares retained share capital retained


T Radford 2,783,033 58,510,822 26.89

R Cunningham 1,486,787 30,845,428 14.18

P Radford 206,351 4,404,076 2.02

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