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Disappointing Second Half Forecast For Cabletalk

Attention Business Editors
For Immediate release
March 30. 2005

Disappointing Second Half Forecast For Cabletalk

Cabletalk has advised that it expects the period October/March to finish well short of earlier indicated company objectives of EBITDA growth from continuing operations.

Directors said that the significant investment in additional resources, together with spend on equipment and vehicles, had not been matched by revenue growth in the period. Costs associated with expanded skilled technician capability including fleet operating costs will have lifted over 50% in the October/March period.

Earlier investment than originally envisaged in positioning for growth in the security services business would not be reflected in earnings until the first quarter of financial 06/07. It was evident however that this investment would deliver higher levels of growth than originally estimated.

The Company noted the following –
- Security services company Fort Lock had lifted its installation and service capability above earlier levels and was in discussion with several parties to extend the security services capability across the Group’s national branch network

- The Group had recently been awarded a significant three year service contract from Vodafone for National network field maintenance services.

- Subsidiary company Astute Ltd was midway through its contracted period to TelstraClear for network installation and service delivery.

ENDS

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