Apparently these results are not as high as some hoped but the...

Apparently these results are not as high as some hoped but the growth is there and investing is all about upside. The stock is incredibly cheap at less than 3c.

QUADTEL LIMITED 2002-07-30 ASX-SIGNAL-G

HOMEX - Brisbane

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Quadtel Ltd (ASX: QTL) announces record 4th quarter sales reaching $5.9 million. This result represents a 62% increase on 3rd quarter results and a 97% increase in sales for the same period last year.
The company expects to close the financial year with $18.5 million revenues (compared to $8.5 million last year), exceeding the original target of $16 million. The retail focused division of the business (better known as Marketing Results) has generated 75% of this revenue, representing a 17% increase in its activities since last
year. The impressive results are the outcome of the healthy business model in place and the impressive product offering available.

Major achievements for the past quarter include:

* Signing an exclusive Broadband supply contract with OzEmail. The deal will support OzEmail, Australia's second largest ISP with over 600,000 subscribers, as they launch OzEdsl. The contract is to supply ADSL modems and associated logistics and support services and is anticipated to be worth in excess of $2 million to Quadtel in the initial 12-month period.

* Securing a preferred supplier agreement to supply ADSL modems to iPrimus, Australia's third largest ISP with over 385,000 customers. iPrimus is also the country's third largest provider of xDSL services. This agreement is expected to add over $1.5 million in
revenue to QTL for the coming financial year given existing supply run rates.

* Attaining an agreement with world market leader Motorola to supply cable modems and product support services to subscribers of Australia's largest cable Internet providers. Under the agreement, Quadtel will supply replacement product required by cable Internet
customers where they are outside warranty timelines. The agreement now means Quadtel will supply product for all broadband users, whether they be cable modem or DSL subscribers.

* Quadtel's voluntary de-listing from Canadian Ventures Exchange which in-effect shifted all Canadian shareholders to the ASX listing. This step was carried out to cut costs and enable cost-effective time management for all involved.

"Needless-to-say, these are very pleasing results which we can all be very proud of. They demonstrate the rewards of a healthy business model, persistence and budgeting; and now that the foundations have
been laid, I am confident that Quadtel will continue to grow and surpass all expectations for many more years to come," commented David Ramsay, Chairman of the Board and Interim CEO at Quadtel.

For Further information contact:
Billy Cina,
P R & COMMUNICATONS MANAGER
David Ramsay
CHAIRMAN OF THE BOARD & INTERIM CEO