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COLT Telecom Group plc announces Sanction of Scheme of Arrangement by the High Court

COLT Telecom Group plc (the 'Company')

Sanction of Scheme of Arrangement by the High Court

The Company announces that the High Court today (4 April 2006) approved thecancellation of Warrants and issue of new Ordinary Shares comprised within theproposed scheme of arrangement under section 425 of the Companies Act 1985 (the'Scheme'). The Scheme was unanimously approved by the Company's Warrantholderson 27 March 2006. Accordingly, the Scheme will become effective upon an officecopy of the Order of the Court sanctioning the Scheme being delivered to theRegistrar of Companies for England and Wales for registration which is expectedto take place later today.

Applications will be made to the UK Listing Authority for the Ordinary Sharesissued on cancellation of the Warrants to be admitted to the Official List andto the London Stock Exchange for the Ordinary Shares to be admitted to tradingon the London Stock Exchange's market for listed securities. It is expected thatAdmission will become effective and dealings in the Ordinary Shares issued onthe cancellation of the Warrants will commence at 8.00 a.m. on 10 April 2006.

Capitalised terms used in this announcement shall have the same meanings as setout in the Scheme document dated 10 March 2006.

For further information please call Gill Maclean at COLT on 020 7863 5314.

This information is provided by RNS The company news service from the London Stock Exchange

SOURCE:  Colt Telecom Group PLC

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