KeyTech Limited has announced that the Exchange Offer to acquire all 73/4 percent Redeemable Notes of Bermuda Telephone Company Limited (a wholly owned subsidiary of KeyTech Limited) in exchange for 8 percent Cumulative Redeemable Convertible Preferred Shares of KeyTech on the basis of three Preferred Shares for every two BTC 73/4 percent Notes opened on Monday.

An Information Memorandum has been sent by mail to all registered holders of the BTC 73/4 percent Notes.

LOM Capital has been appointed as Corporate Finance Advisor and Listing Sponsor and can be contacted by BTC Noteholders for further details on this exchange offering at (441) 292-9271 or by e-mail at KeyTechOfferlom.bm.

The Bermuda Stock Exchange has approved the listing of the 8 percent Cumulative Redeemable Convertible Preferred Shares of KeyTech, and the KeyTech Common Shares that can be issued on exercise of the conversion right attached to the Preferred Shares.