subsidiary approach tel growing strongly

9 March 2004

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

No. of pages: 1


Dear Sir

APPROACH TELECOM EXPERIENCES STRONG 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 of long distance enhanced telephony services traffic and has experienced strong growth in its first full month of commercial operations.

In February 2004, Approach Telecom generated over 80,000 minutes of long distance enhanced telephony services traffic and has connected over 6,000 customers to date.

Stringent cost controls have ensured that Approach Telecom was able to achieve positive cash flow over the period and has collected over $100,000 in revenue since its January launch. Approach Telecom is continuing to ramp up operations which is expected to result in higher revenues.

Chief Executive, Michael Abela comments, “We are very pleased with the successful launch of this service. Demand has been strong and we will continue to balance the growth rate against costs to ensure we maintain profitability”.

Yours faithfully


Phillip MacLeod
Company Secretary