RNS Number:8029K
Project Telecom PLC
7 May 2003

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     Project Telecom PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     Stanlife Nominees Ltd (UK)

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.

     Stanlife Nominees Ltd (UK)

5)   Number of shares/amount of stock acquired.



6)   ( N/A %) of issued Class

7)   Number of shares/amount of stock disposed

     1,503,442

8)   ( 0.68 %) of issued Class

9)   Class of security

     Ordinary

10)  Date of transaction

     25.4.03 to 30.4.03

11)  Date company informed

     1.5.03

12)  Total holding following this notification

     6,228,440
               
13)  Total percentage holding of issued class following this notification

     2.81

14)  Any additional information

     Anthony Dearden
     01636 602639

15)  Name of contact and telephone number for queries

     Anthony Dearden
     Company Secretary

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

     Date of Notification 7 May 2003...................


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

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