6th Feb 2007 07:00
Avanti Screenmedia Group PLC06 February 2007 Embargoed until 7am 6 February 2007 Avanti Screenmedia Group plc ("Avanti" or the "Company") Avanti Sells HYLAS Capacity Avanti Broadband Limited, part of Avanti Screenmedia Group plc (AIM: ASG.L), ispleased to announce that it has signed a framework contract with FastnetBroadband Holdings Limited ("Fastnet"), the Irish communications group, tosupply bandwidth and services over a period of 5 years. The contract has a minimum value of £900,000 but the forecasts in the frameworkcontract anticipate that the value will increase to £4,800,000. Avanti will supply wholesale managed broadband services to Fastnet, who willtake responsibility for marketing, sales and billing. Services will be providedinitially from Avanti's existing rented satellite capacity but the contractperiod takes in the launch of Avanti's HYLAS satellite onto which all serviceswill be transferred. This is a significant agreement for Avanti as it furtherunderlines the value of its growing satellite operations and, in particular, itsplans for HYLAS. David Williams, CEO of Avanti said, "This is precisely the kind of contract weneed to ensure the long term success of our HYLAS satellite project. It furtherdemonstrates the increasing market demand for satellite communications servicesdriven by cost reductions and technology improvements." Dan O'Neill, Chairman of Fastnet said, "I am delighted to be strengthening ourrelationship with Avanti. After a year of working successfully together alreadyI am confident in their ability to deliver services to our key markets in the UK, Ireland and continental Europe." Avanti announced on 13 December 2006 that it is proposing to demerge itsNetworks business. Avanti Broadband Limited will form part of the demergedNetworks business, which will be called Avanti Communications Group plc. Enquiries: Avanti Screenmedia Group plc 020 7749 1600David Williams, Chief Executive Smithfield 020 7360 4900Tania Wild Notes To Editors About Fastnet Fastnet Broadband Holdings Ltd is a licensed communications services providerbased in London, England and Dublin, Ireland. About Avanti Avanti Screenmedia Group plc operates in two quite different divisions: Networksand Media. The Company is in the process of demerging its Networks business. Through its Networks division, Avanti is the only UK domiciled broadcastsatellite operator with its first satellite, HYLAS, funded and underconstruction for launch in 2008. In August 2005 Avanti was awarded by Ofcom the right to use the geo-stationaryorbital position at 33.5degreesW with 3.6Ghz of radio spectrum to operatesatellites. Avanti will use this to provide wholesale satellite services inEurope. Avanti is the clear market leader in digital outdoor advertising, building anddeploying plasma screen networks in retail and leisure environments foradvertising, product promotion and customer entertainment. Avanti listed on AIM, a market operated by the London Stock Exchange, on 9thJuly 2004, at an issue price of 130.0p. Avanti is included in the FTSE Mediasector and has a RIC code of ASG.L. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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