RNS Number:7379S
Project Telecom PLC
19 October 2000


PROJECT TELECOM PLC (THE "COMPANY")

Stabilisation

We hereby notify you pursuant to Core Rule 2.13 of the Rules of the London Stock
Exchange that we are intending to act as the stabilising manager with respect to
an offering of shares in the Company. We request you to publish a statement, in
such manner as you may determine, that stabilising transactions may be made
during the stabilisation period indicated below.

For the purpose of Rule 2.13 we hereby notify you as follows:

1)  The securities concerned are ordinary shares of nominal value 0.25 pence 
    in the Company ("Ordinary Shares"). There are no other associated           
   securities subject to stabilisation;

2)  The stabilising manager is Cazenove & Co. (contact: Edmund Byers Tel:
    020 7588 2828);

3)  Stabilising transactions may occur from 8.00 a.m. on 19 September 2000      
   until 4.30 p.m. on 19 October 2000 (inclusive) or such earlier date as may   
  be notified;

4)  The issue price of the Ordinary Shares is 70 pence per Ordinary Share,
    as announced at 7.00 a.m. on 15 September 2000;

5)  Stabilisation may occur on the London Stock Exchange.
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