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re: sounds like a vna voicenet clone SYDNEY 5 October, 2004
In a move to accelerate its international business expansion and broaden its shareholder base, SkyNetGlobal Limited (ASX:SKG) announced today that it plans to raise up to A$25 million (GBP10 million) through private placements to institutional and other investors and to dual-list on AIM, a market operated by the London Stock Exchange plc.

Subject amongst other things to shareholder approval in Australia, SkyNetGlobal expects to complete the dual-listing in December 2004, when shares of SkyNetGlobal would begin trading on AIM, a globally respected market designed primarily for emerging or smaller companies including those with an international profile or international ambitions.

"AIM is the premier international market for small and medium sized growth companies that have a proven business model, a solid track record and sound management," says James Egan, managing director for ACCP Securities, which is conditionally underwriting 40 percent (A$10 million) of the new offering. "SkyNetGlobal is a perfect fit for AIM - and vice versa. But the real winners should be SkyNetGlobal shareholders. Our research shows convincingly that an AIM listing provides significant buoyancy to the underlying ASX-traded securities. As corporate advisors and underwriters, that gives us additional confidence about guaranteeing a large portion of this placement."

Since November 2003, at least four ASX-traded companies have successfully achieved a dual listing on AIM. These include three mining companies and a media firm. A study by ACCP Securities Pty Ltd of Sydney shows that as of September 2004 these four Australian companies enjoyed an average share price gain of 43 percent since listing on AIM. Of these, two have witnessed share price increases in excess of 65 percent.

The benefits of an AIM listing can be considerable, Egan says, especially for companies that might otherwise be under investors' radar. As AIM is operated by the London Stock Exchange and is located in a global financial hub that is home to hundreds of institutional investors. Accordingly, membership can confer credibility and cachet. Many of these institutional investors invest in AIM companies.

For aggressive, acquisition-minded companies such as SkyNetGlobal, a listing on AIM provides a tradable stock that is recognised and respected worldwide. "Because it attracts global institutional investors, AIM should add liquidity and stability to the SkyNetGlobal share price," says Egan.

"For us, an AIM listing represents a new corporate currency," says Jonathan Soon, CEO of SkyNetGlobal. "Among other things, it allows us to make timely, strategic acquisitions in overseas markets where our ASX-traded stock might not be as welcome or might be unfairly discounted. By contrast, all things being equal, an AIM-traded security in overseas markets will fetch a premium over an ASX-traded stock, which means our cost of expansion will be lower, whether we grow organically or grow by acquisition."

The proceeds of SkyNetGlobal's dual listing on AIM will be used for working capital to expand its successful W Home lifestyle product suite, which includes residential broadband Internet access via its patent-pending MDU (Multi-Dwelling Units) powerline broadband technology, as well as home automation and home security solutions.

W Home differs from other residential broadband service providers in several ways. While other providers focus on the so-called "last mile" connectivity, usually with ADSL or cable modem technologies, W Home focuses on the last 50 meters using powerline to connect households within a residential building, in a way that the company believes is technologically novel and competitively sustainable.

Having proven its business model in Australia; W Home is looking internationally to capitalise on a booming opportunity for residential broadband services in MDUs. An independent market research firm, reports that there are 670 million MDU households worldwide with only 1 million of them connected to broadband and predicts that by 2008, there will be 90 million MDU broadband subscribers.

A commissioned study by Frost & Sullivan, an international market research firm, concluded that the W Home business model should enjoy similar success outside of Australia. This is particularly true, Frost & Sullivan said, in the emerging markets of East and South East Asia where broadband penetration is spotty and service is uneven. This is even true of the more mature markets in Europe, where the convenience of powerline connectivity represents a significant value upgrade to consumers.

"W Home is ready for international expansion, whether through direct investment, joint ventures or franchising," says Soon. "We have established the systems and processes in Australia that aim to deliver a consistently predictable return, and we believe that in markets where the competitive landscape is similar to Australia's we can replicate these financial metrics and achieve a favorable return."

Since it was founded in 1995, AIM has attracted more than 1,300 companies who have raised collectively more than £11 billion. There are currently more than 80 international companies listed on AIM.

SkyNetGlobal will hold its Annual General Meeting on 5 November 2004, when shareholders will vote whether to approve the capital raising and AIM listing.

ABOUT SKYNETGLOBAL
Listed on the Australian Stock Exchange (ASX: SKG) and headquartered in Sydney, SkyNetGlobal is a leading innovator of wireless broadband solutions specialising in 802.11 wireless (WiFi) & Home Plug powerline technologies. SkyNetGlobal's solutions include a global remote access service called "Connector" providing internet connectivity to 15,000 wireless hotspots worldwide, and W Home, a smart home system designed to deliver efficiency, convenience and cost savings for apartment dwellers, offering broadband and home automation products. For more information please visit our website at www.skynetglobal.com

ABOUT ACCP
ACCP has been established since 1989 and has provided a broad range of Investment Banking, Corporate Advisory and Management Consulting services to clients in varying industries and countries. Over the last 18 months, for example, ACCP have advised on over 20 corporate advisory transactions. ACCP has offices in Hong Kong, Singapore and Shanghai and has an excellent track record in capital raisings and investment banking services. These transactions have included mergers, acquisitions and divestments, private placements of debt and equity and the acquisition and licensing of technology related businesses. For more information please visit our website at www.accpgroup.com

ABOUT FROST & SULLIVAN
Frost & Sullivan was founded in 1961 in New York City with a specific mission: Publish world-class market consulting information and intelligence on emerging high-technology and industrial markets. Frost & Sullivan employs over 800 consultants, market analysts, corporate trainers, account managers and customer support staff globally. They work together in providing growth consulting and corporate training solutions to clients in more than 50 countries around the world. For more information please visit our website at www.frost.com

COMPANY ANNOUNCEMENT
All enquiries:
Jonathan Soon, CEO (02) 8251 3888
[email protected]

This release is directed only at persons outside the United Kingdom, persons having professional experience in matters relating to investments or high net worth persons to whom article 49 Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 applies. Any investment or investment activity to which this release relates is available to and will be engaged in only with such persons. In the United Kingdom, persons who do not have professional experience in matters relating to investments or who are not such high net worth persons should not rely on this release and must not act on this release.