RNS Number:9574I
Project Telecom PLC
19 March 2003



                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     PROJECT TELECOM PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

      FIDELITY INTERNATIONAL LIMITED (FIL)

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

      NON-BENEFICIAL INTEREST

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

      1) CHASE NOMINEES LTD.               870,800
      2) DEUTSCHEBANK                       10,900
      3) MELLON NOMINEES LTD                13,200
      4) BANK OF NEW YORK, BRUSSELS         38,228
      5) NORTHERN TRUST                     82,237

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

      1)  94,000
      2)  75,400
      3)  91,100
      4) 264,800
      5) 719,001

8)   (0.55%) of issued Class

9)   Class of security

      ORDINARY

10)  Date of transaction

      16.03.03
           
11)  Date company informed

      17.03.03

12)  Total holding following this notification

      16,721,495
               
13)  Total percentage holding of issued class following this notification

      7.55

14)  Any additional information



15)  Name of contact and telephone number for queries

      RICHARD CUNNINGHAM
      01636 602639

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification ..19 MARCH 2003.......


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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