The Fundamental Rights Application filed by a law-maker against the sale of shares of SLT by NTT Communications Corporation of Japan to Global Telecommunications Holdings NV (GTH), was concluded on 10.3.2008. The Stay Order was vacated and the parties were permitted to proceed with the sale of shares subject to the following:

The Fundamental Rights Application filed by a law-maker against the sale of shares of SLT by NTT Communications Corporation of Japan to Global Telecommunications Holdings NV (GTH), was concluded on 10.3.2008. The Stay Order was vacated and the parties were permitted to proceed with the sale of shares subject to the following:

(1) GOSL should not be party to the sale and the proposed shareholders agreement between the prospective investor and the GOSL should not be proceeded with.

(2) The Shareholders Agreement currently in force to terminate with the sale of the shares by NTT Com in its entirety, to Global Telecommunications Holdings NY.

(3) If, in the event a fresh management agreement is contemplated, it should be concluded with transparency and proper external disclosures.

If, in the event a fresh management agreement is contemplated, it should be concluded with transparency and proper external disclosures. -- Shoji Takahashi - Chief Executive Officer