1st Dec 2008 07:00
Date: Monday 1 December 2008
On behalf of: Avanti Communications Group plc ("Avanti" or "the Company")
Embargoed until: 0700hrs
Avanti Communications Group plc§ Contract Win
Avanti Communications Group plc (AIM: AVN), the broadband satellite operator, announces that it has signed a new VNO contract with Starsat, a service provider in Albania. Starsat previously signed a wholesale contract, and is now making a separate commitment to capacity (interim and HYLAS) in order to provide mission critical communications services to a financial services company. This phase of the contract is worth £138k over three years.
David Williams, Chief Executive of Avanti, said;
"I am pleased that we are able to grow our relationship with customers like Starsat by helping them to win more business and it is a good sign that our service providers are winning corporate data networks business with our products in addition to consumer broadband. The demand for satellite broadband services around Europe is strong and growing fast in the private sector. But added to that, the spending now being undertaken by the EU on rural broadband roll-outs makes us feel increasingly recession proof. We expect strong further contract win news flow soon."
Enquiries to:
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Avanti Communications Group plc |
www.avantiplc.com |
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David Williams |
020 7749 1600 |
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Redleaf Communications Ltd |
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|
Emma Kane/ Samantha Robbins/ Paul Dulieu |
020 7566 6700 |
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Cenkos Securities |
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Ivonne Cantu / Julian Morse |
020 7678 8000 |
Notes to Editors:
Avanti Communications Group plc is the only licensed Fixed Satellite Services operator headquartered in the UK (and one of only eight such groups operating in Europe);
Avanti sell satellite broadband services to wholesale customers targeting consumer, enterprise and institutional markets.
Avanti's first satellite, called Hylas is under construction and due for launch in 2009; the company plans further satellite projects.
Avanti, which has more than 10 years' experience in the satellite industry, currently provides satellite broadband services to customers in Europe using leased satellite capacity which it will transfer to Hylas on launch.
No further funding is required for the Hylas project following successful completion of a long term debt facility in July 2007.
The European Commission has set aside funding for rural broadband projects in 79 regions across Europe with a total value of €1.8 billion over the next five years.
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