Yell closure

British Telecommunications PLC 25 June 2001 June 25, 2001 BT ANNOUNCES CLOSURE OF THE SALE OF YELL BT today announced the closure of the sale of Yell Group ('Yell'), its international directories business, to a newly formed company jointly owned by Apax Partners and Hicks, Muse, Tate & Furst following Hart Scott Rodino clearance in the US. The consideration comprises £2.04 billion in cash and £100 million in interest bearing vendor loan notes and will be used by BT to reduce debt. ------------- Inquiries about this news release should be made to the BT Group Newsroom on its 24-hour number: 020 7356 5369. From outside the UK, dial +44 20 7356 5369. All BT group news releases can be accessed at our website: http://www.groupbt.com/mediacentre Yell: Richard Duggleby +44 (0) 118 950 6206 Jon Salmon +44 (0) 118 950 6656 Main press office +44 (0) 118 950 6999

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