Holding(s) in Company

RNS Number:8902B
Project Telecom PLC
1 October 2002

                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

PROJECT TELECOM PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

FIDELITY INTERNATIONAL LIMITED (FIL)

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

NON-BENEFICIAL INTEREST

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

FIDELITY INTERNATIONAL LIMITED (FIL) REGISTERED AS CHASE NOMINEES LTD

5)   Number of shares/amount of stock acquired.

4,437,865

6)   (2.00%) of issued Class

7)   Number of shares/amount of stock disposed

8)   ( N/A %) of issued Class

9)   Class of security

ORDINARY

10)  Date of transaction

24.9.02

11)  Date company informed

25.9.02

12)  Total holding following this notification

15,807,793
               
13)  Total percentage holding of issued class following this notification

7.13

14)  Any additional information



15)  Name of contact and telephone number for queries

ANTONY DEARDEN     01636 602638

16)  Name and signature of authorised company official responsible for 
     making this notification

     Date of Notification 1 OCTOBER 2002.................





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