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Cable & Wireless, the global telecommunications group, today (3 April 2003) announced that it will provide a Managed Private Line between Moscow and London for leading independent Russian investment bank, Renaissance Capital. The deal is worth approximately US$300,000 over three years.

“Placing this contract with Cable & Wireless allows us to get on with the business of successfully looking after our international clientele, in the knowledge that this part of our infrastructure is managed by experts,” said Alexey Emelyanov, CIO, Renaissance Capital.

“Our company has extensive experience in organising and supporting communication networks for international corporations, and we are glad to offer our expertise to Renaissance Capital who want a reliable, efficient and fast connection,” commented David Waterhouse, vice-president, Northern Europe and Benelux, Cable & Wireless.

Cable & Wireless and Renaissance Capital are exploring opportunities for further cooperation.

- Ends -

Notes to Editors

About Cable & Wireless’ Managed Private Line Services

Cable & Wireless Managed Private Line allows direct, dedicated, secure and cost-effective point-to-point communications for business applications, allowing constant traffic streams between locations for data, voice or video traffic.

Cable & Wireless Managed Private Line is available throughout Europe, North America and the Far East and includes end-to-end management by Cable & Wireless. This one supplier approach ensures consistent installation, billing and fault management processes. Cable & Wireless maximise the efficient use of the Private Line by managing the bandwidth allocation, splitting it between data, voice and video according to customer requirements.


About Cable & Wireless

Cable & Wireless is a major global telecommunications business with revenue of over £5.9 billion (US$8.6 billion) in the year to 31 March 2002 and customers in 80 countries. It consists of two core and complementary divisions: Cable & Wireless Regional and Cable & Wireless Global. Cable & Wireless Regional offers a full range of telecommunications services in 33 countries around the world, with major businesses in the Caribbean, Panama, the Middle East and Macau. Cable & Wireless Global provides IP (internet protocol), voice and data services and managed solutions for business customers. It has developed advanced IP networks and value-added services in the US, Europe and the Asia-Pacific region in support of this strategy. Building on its strong national businesses in the UK and Japan, Cable & Wireless Global will focus on serving primarily multinational companies (both enterprises and service providers) in the US, UK, continental Europe and Japan/Asia. For more information about Cable & Wireless, go to http://www.cw.com

About Renaissance Capital

Renaissance Capital (www.rencap.com) is the leading independent investment bank operating in the Russian financial market, serving both domestic and international clients. Since its founding in 1995, the company has raised over US$6 billion for Russian companies that is more than any over financial institution, and completed a number of high profile deals.

Renaissance Capital was the joint arranger of Gazprom’s RUB5 bln bond issue, the largest rouble denominated issue to date in Russian Federation (2002); the sole financial advisor to Saint Springs, a domestic bottled water company, on its purchase by Nestle Waters Group (2002); the sole arranger of a financial consortium that purchased a 34% stake of Novolipetsk Metallurgic Plant (NLMK) (2002); the sole financial advisor to Kuban GSM during the sale of a controlling stake to MTS in transaction valued at US$71.4 million (2002); the sole placement agent of 1.44% of GAZPROM ADRs (2001); the exclusive financial advisor in the merger of three telecommunication companies into Petersburg Telephone Network (2001); the sole financial advisor in the consolidation of YUKOS’ subsidiaries (2001); the co-lead manager in the initial public offering and placement of the Mobile TeleSystems (MTS) Level 3 ADR on the NYSE (2000); and, the financial adviser to NLMK on the sale of its ‘STINOL’ refrigerator plant to Merloni Elettrodomestici (2000).

Renaissance Capital Limited, a member of the Renaissance Capital group, has become the first Russia-focused investment institution to become a member of the London Stock Exchange (LSE). Renaissance Capital Limited is also the first Russia-focused UK investment firm to be authorised by the Financial Services Authority (FSA) of the United Kingdom as a ‘Category A’ firm. Renaissance Capital has fully licensed brokers in the US (RenCap Securities), UK (Renaissance Capital Limited), and Russia (ZAO Renaissance Capital).

For more information, please contact:

Jennifer Goulding

Brodeur Worldwide (for Cable & Wireless)

Tel: +44 (0)20 7298 7075

Email: hvalder@uk.brodeur.com


Henny Valder

Brodeur Worldwide (for Cable & Wireless)

Tel: +44 (0)20 7298 7075

Email: hvalder@uk.brodeur.com

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