Smart Telecom Wins 3G Mobile Licence

Europe Ireland : Smart Telecom is delighted that the Irish telecommunications regulator, ComReg, announced yesterday afternoon that Smart Telecom is to be offered the fourth and ast Irish 3G mobile licence, after the conclusion of a competitive tender process in which Smart emerged as the first ranked applicant. The statement from ComReg highlighted the speed of Smart's proposed network roll out and the coverage it will provide at key milestones.

The directors of Smart believe that voice and broadband services across fixed and mobile networks are moving towards convergence and that it is in the Company's interest to be positioned to exploit these market opportunities as they arise. Smart recently announced a fundraising of £30m to enable it to roll out its fixed line broadband services utilising next generation IP technologies.

Following the offer from ComReg of Ireland's remaining 3G licence, Smart now has access to next generation mobile technology and will be the first operator in the Irish market capable of offering converged next generation broadband and mobile telecommunications services.

The Company therefore intends to accept the offer of the 3G Mobile Licence. As set out in the recent circular to shareholders, the bid was submitted in association with Huawei Technologies and in contemplation of partnerships with other interested parties. Smart indicated in its bid its willingness to engage in partnerships with other operators interested in accessing the Irish market, which is recognised as a very attractive market.

The purpose of these intended partnerships is to ensure that adequate financing and other resources are in place for the development of a mobile business without deflecting the Company from its existing strategy and without placing undue strain on the resources of Smart following the recent fundraising. The directors do not believe that significant existing management resources will be deployed in the development of the 3G mobile business or that any material part of the funds recently raised will be utilised in its development. Over the coming days the Company will be finalising the financing of its bid and its operating partners.

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