announcement out, page-2

re: announcement out - strong growth Yes, Junky. The text of the announcement follows, for those interested. (Note that Approach Telecom's revenues amounted to a creditable $100,000 in its first two months of operation. But now in March, the third month of operation, total revenues amounted to $285,000. That means $185,000 of that came in March alone, which is an eye-popping increase on the preceding two months!)

7 April 2004

The Manager
Australian Stock Exchange Limited (“ASX”)
Company Announcements Office

No. of pages: 1

Dear Sir

APPROACH TELECOM CONTINUES GROWTH

The Directors of Quadrant Iridium Limited (“Quadrant” or the “Company”) are pleased to announce that the Company’s wholly owned subsidiary “Approach Telecom Australia Pty Ltd (“Approach Telecom”) has continued its successful introduction by maintaining strong growth.

Approach Telecom doubled the traffic generated in March to over 180,000 minutes, compared to February of 90,000 minutes, of long distance enhanced telephony services traffic from over 25,000 users.

Revenue collected since inception in January 2004 has now exceeded $285,000. The company has retained its focus on tight cost controls and Approach Telecom has achieved positive cash flow over the period.

Chief Executive, Michael Abela comments, “While focusing on building a professionally managed and tightly controlled operation, we have not lost sight of growth in revenue.”

Yours faithfully

Phillip MacLeod
Company Secretary