Colt buys back £2 million bonds

New York, June 19 - Colt Telecom Group plc said it bought back a further £2 million of its bonds at a cost of £1 million.

The repurchase, carried out through Colt Telecom Finance Ltd., continues a series of purchases of its debt. Most recently, Colt said on June 10 it had bought back £18 million of its bonds.

And Colt said it may buy additional bonds in the future.

The most recent repurchases were:

--$1.0 million accreted principal amount of its $314 million 12% senior discount notes due December 2006, bringing total repurchases to $61.8 million, and

--€3.0 million accreted principal amount of €320 million 7.625% senior notes due December 2009, bringing total repurchases to €50.3 million.

Although no further bonds were bought in the latest transactions, Colt has so far bought back:

--£3.0 million face amount of its £50 million 10.125% senior notes due November 2007,

--€5.0 million face amount of its €76.7 million 8.875% senior notes due November 2007,

--€47.0 million face amount of its €306.8 million 7.625% senior notes due July 2008,

--€16.8 million accreted principal amount of its €306.8 million 2% senior convertible notes due August 2005,

--€84.8 million accreted principal amount of its €295 million 2% senior convertible notes due March 2006,

--€73.0 million accreted principal amount of its €368 million 2% senior convertible notes due December 2006, and

--€92.4 million accreted principal amount of its €402.5 million 2% senior convertible notes due April 2007.

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