RNS Number:8311K
Project Telecom PLC
08 May 2003


Project Telecom acquires IMS Telecom Limited


THURSDAY, 8 May 2003 - Project Telecom plc, the UK's leading virtual network
operator focused on the business market, has acquired Leeds-based IMS Telecom
Limited for a cash consideration of #2.25 million financed from existing
resources.


IMS Telecom is a fixed and mobile telecommunications service provider to the
business market in the North of England. Turnover for the 9 months ended 31
October 2002 was approximately #10 million.


The acquisition of IMS Telecom is in line with Project Telecom's strategy of
expanding its corporate customer base and extending its geographic reach through
organic growth and selected acquisitions.

-ENDS-



For further information contact:


Tim Radford - Chief Executive
Project Telecom plc
Mobile: 07831 642911


Simon Bloomfield
Bankside Consultants
Tel: 020 7444 4177
Mobile: 07771 758517







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

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