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CLEAR Chairman Announces Resignation

CLEAR's Chairman John Ede announced his retirement today after nine years at the company's helm.

Mr Ede has advised the Board of Directors and the 100 percent shareholder, BT, of his intention to retire from the Board, and as Chairman, with effect from 30 September 1999.

"The company now has one shareholder, therefore the role of an independent Chairman for four 25 percent shareholders is no longer required," Mr Ede said. "CLEAR is in very good hands with BT. With such a strong shareholder and some excellent online products and services on the way, CLEAR has a very bright future.

"I am proud to have been associated with CLEAR over these formative years. The early achievements, bringing with them as they did enormous benefits to toll and other telephone service users, were remarkable. From the day CLEAR started it provided a genuine alternative to the inadequate and highly priced monopoly then available.

"It has been a privilege to have worked with some remarkable people and many milestones have been recorded. The culture of CLEAR, which has been very special, is a consequence of the dedication and innovation of our loyal staff.

"I have watched CLEAR grow from the small toll company that it was to an enterprise that now provides an extensive range of products to the entire business market.

"I am happy to hand over the baton and wish CLEAR and BT every success."

Chief Executive Tim Cullinane says Mr Ede has made a significant contribution to the organisation over the past nine years.

"John was our inaugural Chairman and he has guided us through challenging and rewarding times to a new era, one in which we will excel as an online services provider. CLEAR has benefited tremendously from John's experience and knowledge of corporate governance. We wish him well in his retirement from CLEAR."

ENDS

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