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SingTel Australia completes acquisition of Optus
23 Oct 2001

Singapore Telecommunications Limited's ("SingTel's") wholly-owned subsidiary, SingTel Australia Investment Ltd ("SingTel Australia"), has now completed the compulsory acquisition of all of the outstanding ordinary shares in Cable & Wireless Optus Limited ("Optus") that were not acquired by SingTel Australia in its takeover offer for Optus shares.

SingTel Australia now holds 100 per cent of the ordinary shares in Optus.

As a result of the issue of SingTel shares under the takeover offer for Optus shares and on completion of the compulsory acquisition of Optus shares, SingTel now has total issued share capital of 17,825,826,694 ordinary shares.

SingTel will announce its results for the six months ended 30 September 2001 on 8 November 2001, after the end of morning trading on the Singapore Exchange. The announcement is expected to be made between 12.30 pm and 1.00 pm, Singapore time (between 3.30 pm and 4.00 pm, Sydney time). The half year results of Optus for the current financial year will also be released simultaneously.

For further information, please phone:
Foo Kim Leng
Senior Corporate Communications Manager
Singapore Telecommunications
Tel: +65 8382011
E-mail: kimleng@singtel.com

Stephen Woodhill
Public Affairs
Optus
Tel: +61 2 9342 7850
E-mail: stephen.woodhill@optus.com.au