STWS HITS FIRST QUARTER OF OPERATING PROFIT

FOR IMMEDIATE RELEASE: 21st February 2002

STWS HITS FIRST QUARTER OF OPERATING PROFIT

STWS, the low-cost voice and data service provider for the African market, today confirmed that it has completed its first quarter of profitable trading.

Incorporated in 1998 with first services going live in South Africa in 1999, STWS currently delivers a range of retail services through its Storm brand to some 3500 businesses in South Africa - around 2% of South Africa's business market. Whilst the services are primarily aimed at reducing a business's phone, fax and internet access charges, they also include web and data hosting and SMS related solutions. In addition to the retail activity, STWS also operates a wholesale division selling minutes in and out of 12 African countries.

Tim Parsonson, a director of STWS, commented:
"Through a combination of acquisition, innovative product mix, focused selling and timely presence in a market going through the early stages of deregulation, we have been able to establish ourselves as a leading independent player in the South Africa market. The goal now is to steadily expand our wholesale and retail footprint across the African continent in line with the opportunities provided by deregulation."

With monthly revenues having increased fivefold during 2001, STWS currently employs 95 staff in offices in Cape Town, Johannesburg, Durban, Port Elizabeth and London (England).

About STWS
Founded in 1998, STWS is a low-cost voice and data service provider for the African market. With access into 12 African countries, the company is at the forefront of the telecom deregulation process on the African continent.

Through its retail brand, Storm, STWS is a leading independent provider of voice and data services to businesses in South Africa currently delivering phone, fax, internet access and related data services to 3500 businesses in the country. With its IP infrastructure and expertise, the company is well positioned to offer converged voice and data services over one network to the business market once deregulation permits.

Further information:
   Pamela Shabi (gth media)   +44 207 467 0607
   Tim Parsonson (STWS)      +27 11 202 3000