re: fnt update (tell lauura) Hi Yanlin,Based on the attached ASX...

re: fnt update (tell lauura) Hi Yanlin,

Based on the attached ASX announcement from a short time ago, I would argue that the FNT deal is all but dead.

------------------------------------------------------
ADVANTAGE TELECOMMUNICATIONS LIMITED 2003-01-10 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Advantage Telecommunications Limited (ASX: ATC) refers to ASX Release
dated 4 December 2002 which advised that the dispatch of
documentation to convene the Meeting of Members to consider the
acquisition of First National Telecom Limited had been delayed as a
consequence of the Company awaiting the provision and confirmation of
information by FNT and its vendor, Mr Albert Mackey.

Notwithstanding repeated requests by the Company for the provision of
this information for ATC to complete the Notice of Meeting, FNT and
the vendor Mr Albert Mackey have failed to provide the requested
information.

ATC has sought and is awaiting legal advice from its UK lawyers
relating to the actions of FNT and the Vendor.

ATC is of the view that it has a legally binding agreement to acquire
FNT on terms previously disclosed, or has a right to sue FNT and Mr
Albert Mackey for substantial damages due to their non-compliance
with their contractual obligations.

The Company anticipates providing ASX further information shortly.

For further information please contact:

Mark J Stewart John Palermo
CHIEF EXECUTIVE OFFICER CHAIRMAN
Advantage Telecommunications Ltd Advantage Telecommunications Ltd
[email protected] [email protected]
+44 207 464 4430 +61 8 9242 2621