Result of Equity Issue

British Telecommunications PLC 18 June 2001 NR 0135 British Telecommunications public limited company ('BT') 18 June 2001 Rights Issue. As previously announced on 17 June 2001, BT received valid acceptances in respect of 1,768,695,260 new BT Shares representing 89.5% of the total number of new BT shares being offered under its 3 for 10 rights issue at 300p (the 'Rights Issue'). The 206,884,792 new BT Shares for which valid acceptances were not received have been sold by way of an international strike price tender at a price of 430p per BT Share, and $60.4236 per BT ADS (based on an exchange rate of £1 = $1.4052). The net proceeds of the sale of these shares, after deduction of the rights issue price of 300p per new BT Share and all relevant costs, will be sent to shareholders who have not taken up their entitlements, pro-rata to their lapsed provisional allotments, by 2 July 2001. Amounts of less than 300p per holding, or $5.00 in the case of ADS holdings, will not be so paid but will be aggregated and retained for the benefit of BT. Commenting on the completion of the Rights Issue, Sir Christopher Bland, Chairman of BT, said: 'I am delighted by the level of support that we have received from our shareholders. This, together with the successful disposal programme we have put in place, will enable us to deliver to shareholders the benefits of structural change. I am particularly grateful to Peter Bonfield and Philip Hampton for their efforts in presenting the BT case to shareholders in the UK, US and Continental Europe.' Contacts BT Robin Pauley Telephone: +44 20 7356 6535 Tim Johns Telephone: +44 20 7356 5365 Cazenove & Co. Ltd. Telephone: +44 20 7588 2828 David Mayhew Edmund Byers Merrill Lynch International Telephone: +44 20 7628 1000 Rupert Hume-Kendall Rupert Evenett This announcement, which has been issued by, and is the sole responsibility of, British Telecommunications public limited company ('BT'), has been approved by Cazenove & Co. Ltd and Merrill Lynch International, each of which is regulated in the UK by The Securities and Futures Authority, solely for the purposes of Section 57 of the Financial Services Act 1986. Each of Cazenove & Co. Ltd and Merrill Lynch International is acting for BT and no one else in connection with the Rights Issue and the International Tender and will not be responsible to anyone other than BT for providing the protections afforded to customers of Cazenove & Co. Ltd and Merrill Lynch International respectively or for providing advice in relation to the Rights Issue or the International Tender. This announcement does not constitute, or form part of, an offer or any solicitation of an offer, for securities.

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