Schedule 1, Part 2

Items required to be separately listed in financial statements required under requirement 5(1) or requirement 6(1):

Statement of Financial Position

| | 2007
($'000) | 2006
($'000) |
|-------------------------|----------------|----------------|
| 1 Current assets | | |
| (a) Cash and bank balances | 21 | 36 |
| (b) Short-term investments | 0 | 0 |
| (c) Inventories | 90 | 137 |
| (d) Accounts receivable | 594 | 608 |
| (e) Other current assets not listed in (a) to (d) | 0 | 0 |
| (f) Total current assets (sum of (a) to (e)) | 705 | 781 |

| 2 Fixed assets | | |
| (a) System fixed assets | 22,930 | 23,263 |
| (b) Consumer billing and information system assets | 0 | 0 |
| (c) Motor Vehicles | 23 | 18 |
| (d) Office equipment | 39 | 42 |
| (e) Land and buildings | 1,248 | 1,252 |
| (f) Capital works under construction | 18 | 0 |
| (g) Other fixed assets not listed in (a) to (f) | 0 | 0 |
| (h) Total fixed assets (sum of (a) to (g)) | 24,258 | 24,575 |

| 3 Other tangible assets not listed above | 0 | 0 |
| 4 Total tangible assets (1(f)+2(h)+3) | 24,963 | 25,356 |

| 5 Intangible assets | | |
| (a) Goodwill | 0 | 0 |
| (b) Other intangibles not listed in (a) | 0 | 0 |
| (c) Total Intangible assets (sum of (a) and (b)) | 0 | 0 |

| 6 Total assets (4+5(c)) | 24,963 | 25,356 |

| 7 Current liabilities | | |
| (a) Bank overdraft | 0 | 0 |
| (b) Short-term borrowings | 0 | 0 |
| (c) Payables and accruals | 735 | 531 |
| (d) Provision for dividends payable | 0 | 0 |
| (e) Provision for income tax | (121) | (70) |
| (f) Other current liabilities not listed in (e) to (e) | 0 | 0 |
| (g) Total current liabilities (sum of (a) to (f)) | 614 | 461 |

| 8 Non-current liabilities | | |
| (a) Payables and accruals | 0 | 0 |
| (b) Borrowings | 3,470 | 3,500 |
| (c) Deferred tax | (11) | (11) |
| (d) Other non-current liabilities not listed in (a) to (c) | 0 | 0 |
| (e) Total non-current liabilities (sum of (a) to (d)) | 3,459 | 3,489 |

| 9 Equity | | |
| (a) Shareholders' equity | | |
| (i) Share capital | 1 | 1 |
| (ii) Retained earnings | (384) | 132 |
| (iii) Reserves | 21,273 | 21,273 |
| (iv) Total Shareholders' equity (sum of (i) to (iii)) | 20,890 | 21,406 |
| (b) Minority interests in subsidiaries | 0 | 0 |
| (c) Total equity (sum of (a) and (b)) | 20,890 | 21,406 |
| (d) Capital notes | 0 | 0 |
| (e) Total capital funds (sum of (c) and (d)) | 20,890 | 21,406 |

| 10 Total equity and liabilities (7(g)+8(e)+9(e)) | 24,963 | 25,356 |

Statement of Financial Performance

| | 2007
($'000) | 2006
($'000) |
|-------------------------|----------------|----------------|
| 11 Operating revenue | | |
| (a) Revenue from line / access charges | 7,402 | 7,657 |
| (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 | 41 | 28 |
| (d) AC loss-rental rebates | 225 | 281 |
| (e) Other revenue not listed in (a) to (d) | 33 | 120 |
| (f) Total operating revenue (sum of (a) to (e)) | 7,701 | 7,487 |