News

Exercise Option: Planet Telecoms (S) Pte Ltd

Further to the announcement dated 14 July 2005 (copy attached), TeleChoice International Limited ("TeleChoice") wishes to announce that it has exercised its option to acquire an additional 150,000 shares in Planet Telecoms (S) Pte Ltd ("Planet") from Planet's founder, Kan Cheong Hoong ("Founder") for a cash consideration of $840,000.

The transaction is targetted for completion on 10 March 2006. Currently, TeleChoice holds 200,000 Planet shares (comprising 40% of Planet's paid-up capital), with the remaining 300,000 Planet shares (comprising 60% of Planet's paid-up capital) held by the Founder.

Upon completion, TeleChoice will hold 350,000 Planet shares (comprising 70% of Planet's paid-up capital), and the Founder will hold the remaining 150,000 Planet shares (comprising 30% of Planet's paid-up capital).

None of the directors or substantial shareholders of TeleChoice have any interest, direct or indirect, in the transaction, which is not material with regard to TeleChoice's overall operations and financial position.

Attachments

1. PR14072005a.pdf (Size: 66,176 bytes)