Statement of Financial Position Disclosure (Schedule 1, Part 2)

| para | | 2003
$ | 2002
$ |
|-----|-----------------------------------------------------------|------------|------------|
| 1 | Current assets | | |
| (a) | Cash and bank balances: | 14 | 24 |
| (b) | Short-term investments: | 1,120 | 750 |
| (c) | Inventories: | 101 | 102 |
| (d) | Accounts receivable: | 716 | 542 |
| (e) | Other current assets not listed in (a) to (d): | 0 | 0 |
| (f) | Total current assets | 1,951 | 1,418 |

| 2 | Fixed assets | | |
| (a) | System fixed assets: | 13,343 | 13,510 |
| (b) | Consumer billing and information system assets: | 0 | 0 |
| (c) | Motor Vehicles | 22 | 9 |
| (d) | Office equipment | 33 | 41 |
| (e) | Land and buildings: | 873 | 876 |
| (f) | Capital works under construction: | 107 | 53 |
| (g) | Other fixed assets not listed in (a) to (f): | 0 | 0 |
| (h) | Total fixed assets | 14,378 | 14,489 |

| 3 | Other tangible assets not listed above | 0 | 0 |
| 4 | Total tangible assets | 16,329 | 15,907 |

| 5 | Intangible assets | | |
| (a) | Goodwill: | 0 | 0 |
| (b) | Other intangibles not listed in (a) above: | 0 | 0 |
| (c) | Total intangible assets | 0 | 0 |

| 6 | Total assets | 16,329 | 15,907 |

| 7 | Current liabilities | | |
| (a) | Bank overdraft: | 0 | 0 |
| (b) | Short-term borrowings: | 0 | 0 |
| (c) | Payables and accruals: | 544 | 365 |
| (d) | Provision for dividends payable: | 0 | 0 |
| (e) | Provision for income tax: | (138) | (66) |
| (f) | Other current liabilities not listed in (a) to (c) above: | 20 | 24 |
| (g) | Total current liabilities | 426 | 323 |

| 8 | Non-current liabilities | | |
| (a) | Payables and accruals: | 0 | 0 |
| (b) | Borrowings: | 1,000 | 1,000 |
| (c) | Deferred tax: | 300 | 158 |
| (d) | Other non-current liabilities not listed in (a) to (c) above: | 0 | 0 |
| (e) | Total non-current liabilities | 1,300 | 1,158 |

| 9 | Equity | | |
| (a) | Shareholders’ equity: | | |
| (i) | Share capital | 1 | 1 |
| (ii)| Retained earnings: | 2,092 | 1,915 |
| (iii)| Reserves: | 12,510 | 12,510 |
| (iv)| Total Shareholders’ equity | 14,603 | 14,426 |
| (b) | Minority interests in subsidiaries: | 0 | 0 |
| (c) | Total equity | 14,603 | 14,426 |
| (d) | Capital notes: | 0 | 0 |
| (e) | Total capital funds | 14,603 | 14,426 |

| 10 | Total equity and liabilities | 16,329 | 15,907 |

Operating Revenue (Schedule 1, Part 2)

| para | | 2003
$ | 2002
$ |
|-----|---------------------------------------------------------------|------------|------------|
| 11 | Operating revenue | | |
| (a) | Revenue from line/access charges: | 6,610 | 6,784 |
| (b) | Revenue from "Other" business for services carried out by | | |
| the line business (transfer payment): | 0 | 0 |
| (c) | Interest on cash, bank balances and short term investments: | 87 | 78 |
| (d) | AC loss-rental rebates: | 176 | 413 |
| (e) | Other revenue not listed in (a) to (d): | 34 | 151 |
| (f) | Total operating revenue | 6,907 | 7,426 |