TELSTRA GROUP LIMITED — Capital/Financing Update 2002

Dec 2, 2002

$\mathcal{L}{\text{max}}$ and $\mathcal{L}{\text{max}}$ . The set of $\mathcal{L}_{\text{max}}$

$\sim$

To:	COMPANY ANNOUNCEMENT			From:	Jonathan Soon
Fax:	1300 300 021				Pages: Two (2) including this cover page
Phone:			Date:	3/12/2002
Re:		Update on wireless network sale to Telstra CC:
$\square$ Urgent		$\Box$ For Review	□ Please Comment		$\square$ Please Reply	□ Please Recycle
		Please see attachment.
Yours Sincerely,
Jonathan Soon

SkyNetGlobal Limited ABN 99 089 227 887
Suite 16, 123 Liverpool Street
Sydney, NSW 2000, Australia
Phone: (+612) 8251 3800 Facsimile: (+612) 8251 3809 www.skynetglobal.com

$\Delta \sim 10^4$

$\bar{\beta}$

MEDIA RELEASE

Contact: Peter White. Peter C White and Associates. 02 9247 7757 or 0416 041 390 Tuesday, 3 December 2002

Update on wireless network sale to Telstra

Rydges Hotels Access Contract with Telstra signed

SkyNetGlobal has previously announced to ASX that it has entered into 2 agreements with Telstra Corporation Limited as follows:

• $\mathbf{1}$ a Purchase Agreement whereby Telstra has agreed to purchase SkyNetGlobal's public access wireless LAN infrastructure; and
• $2.$ a Roaming Agreement whereby SkyNetGlobal's customers will be provided with internet access via the wireless LANs owned and operated by Telstra and vice versa.

As previously advised, those arrangements are subject to necessary approvals including approval by SkyNetGlobal's shareholders (which has occurred) as well as the formal novation to Telstra of third party Access Contracts.

SkyNetGlobal has today settled the sale of assets located at or used in connection with the provision of services at Rydges Hotel sites in Australia and New Zealand for \$425,000 plus GST.

SkyNetGlobal expects to make further announcements in December 2002 as it progresses to completion of Access Contracts with other third parties.

• The end -

ABOUT SKYNETGLOBAL

SkyNetGlobal is a leading provider of remote communications services to corporations, government and business travellers. Headquartered in Sydney and listed on the Australian Stock Exchange, SkyNetGlobal delivers secured remote access to corporate networks across multiple technologies through one single service virtually from anywhere in Australia and globally. With SkyNetGlobal, your remote users, offices and travelling executives will have broadband, wireless and dial up access to corporate network applications, email and the Internet away from the office. Whether you are at home, in a hotel, restaurant, and café or at an airport, remote access will never be easier, faster and cheaper.