CONFIRMATION OF REVISED PROPOSALS

In response to speculation in this morning's Press, Cable & Wireless Optus confirms that it has received revised proposals from interested parties as part of its ongoing Strategic Review.

Discussions with these parties are continuing. The discussions are confidential and incomplete. No formal takeover offer has been received.

Cable & Wireless Optus will make further announcements at the appropriate time.

For more information:
Stephen Woodhill
Phone: 02 9342 7850