ARCHIVE 2007

Invision portfolio company AdEPT Telecom plc announces the acquisition of Telecom Direct Ltd

London - 06 December 2007

AdEPT Telecom plc announces a 3 year agreement with The CarphoneWarehouse Group ("CPW") and the £6.4 million acquisition of Telecom Direct Limited.

AdEPT Telecom plc ("AdEPT" or "the Company"), a leading independent provider of award-winning telecommunications services for landline calls, line rental and broadband is pleased to announce:

• A new three year agreement with Opal Telecom ("Opal", the B2B division of "CPW") to migrate AdEPT customers onto their 21st Century Network generating the associated cost and technological benefits; and

• A substantial acquisition of fixed line reseller Telecom Direct Limited ("Telecom Direct") which for the 12 months to March 2007 generated revenues of £13 million in the 12 months to 31 March 2007. As a result, AdEPT has become one of the UK's largest fixed line resellers.

Roger Wilson, Chairman of AdEPT said: "Today's announcement marks a step change in the size and future potential of our business. The acquisition of Telecom Direct will increase the turnover of the business by 60% and we expect the deal to be significantly earnings enhancing over the medium term. We are also delighted that the founder of Telecom Direct, Dave Stretch, is remaining with AdEPT to run the Telecom Direct division."

Dave Stretch, Director of Telecom Direct said, "I believe that the strength and experience of AdEPT will bring significant benefits to our customers and channel partners. I am looking forward to working with the AdEPT team and continuing to expand the enlarged business."

AdEPT is acquiring Telecom Direct, one of the oldest independent fixed line telecom resellers in the UK, established in 1997. The acquisition follows the Company's core strategy of acting as a consolidator of the highly fragmented fixed line business market. Telecom Direct represents a natural fit with AdEPT as it operates a very similar model and customer base and should immediately benefit from the introduction of AdEPT's automated back office systems.

Telecom Direct currently provides voice telephone services to 5,500 business customers. In the year to 31 March 2007, Telecom Direct generated revenues of £13 million and profits before tax of £0.2 million. The acquisition will therefore increase AdEPT's turnover by over 60% per annum, making the Company one of the largest fixed-line resellers in the UK.

Commenting on the acquisition, Roger Wilson, Chairman of AdEPT, said, "This is a very significant transaction as it has immediately changed the scale of the business and led to our ability to reach an agreement with CPW. We expect the deal to be significantly earnings enhancing over the medium term."