Early Redemption

RNS Number:2571S
Colt Telecom Group PLC
19 November 2003

19 November 2003

                       COLT ANNOUNCES EARLY REDEMPTION OF
                     U.S. DOLLAR 12% SENIOR DISCOUNT NOTES

COLT Telecom Group plc (COLT) announced today that it has given notice of the
redemption of all of the outstanding U.S. Dollar 12% Senior Discount Notes due
2006. The redemption will be at the principal amount of the Notes plus accrued
interest and will be funded out of COLT's cash and liquid resources. The
aggregate amount payable will be approximately #122 million. The redemption will
take place on 22 December 2003.

COLT's Chief Financial Officer, Marina Wyatt said:

"COLT is financially strong with #934 million of cash and liquid resources as at
30 September 2003 and we expect to be free cash flow positive on a sustainable
basis during 2005. By redeeming the Notes early we will save approximately #30
million in net interest over the next three years."

About COLT

COLT Telecom Group plc is a leading pan-European provider of business
communications services. COLT has over 17,000 network services and data centre
solutions customers. The company owns an integrated 20,000 kilometre network
that directly connects 32 major cities in 13 countries augmented with a further
41 points of presence across Europe and 11 Data Solution Centres. COLT supplies
customers across the full spectrum of industry, service and government sectors
with unrivalled end-to-end network security, reliability and service.

COLT Telecom Group plc is listed on the London Stock Exchange (CTM.L) and NASDAQ
(COLT). Information about COLT and its products and services can be found on the
web at www.colt.net


Contact
John Doherty, Director Corporate Communications
Gill Maclean, Head of Corporate Communications
Tel: [phone]


WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE
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LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON OUR CURRENT BELIEFS AND
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ACCURATE BECAUSE OF KNOWN CONTINGENCIES OR BECAUSE OF CHANGED CIRCUMSTANCES.
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STATEMENTS.


                      This information is provided by RNS
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