Cable and Wireless Communications : Acquisition - Update

20 November 2014

CABLE & WIRELESS COMMUNICATIONS PLC

("CWC" or the "Company")

Acquisition of Columbus International Inc - Update

CWC announced on 6 November 2014 that it had agreed terms to purchase 100 per cent. of the equity of Columbus International Inc, a leading privately-owned fibre-based telecommunications and technology services provider operating in the Caribbean, Central America and the Andean region, for USD1.85bn (the "Acquisition ").

On 19 November 2014, the Company announced the publication and posting of a shareholder circular containing further details of the Acquisition (the "Circular ").

The Company further announced, earlier today, the results of the consent solicitation undertaken with the holders of Sable International Finance Limited's bonds with respect to the Acquisition.  Pursuant to that consent solicitation, the holders of Sable International Finance Limited's bonds have given the requisite consents in respect of the Acquisition.

Accordingly, the Scheme, as set out in the formal notice of meeting for the Court Meeting included in the Circular, will not be implemented.  No business will therefore be undertaken at the Court Meeting, which will be opened and immediately adjourned.

Shareholders are advised that the relevant resolutions to approve the Acquisition are those numbered one to six (inclusive) in the notice of general meeting contained in the Circular (the "Notice of General Meeting ").   Resolutions seven and eight contained in the Notice of General Meeting will not be put to shareholders and there is therefore no need for shareholders to vote on resolutions seven and eight or to complete the form of proxy in relation to the Court Meeting (the proxy form coloured blue).

The Court Meeting will be opened and adjourned at 10.00 a.m., and the General Meeting will commence at 10.05 a.m., on Friday 5 December 2014.

If you have any queries in relation the Court Meeting or the General Meeting, please call the shareholder helpline on +44 (0)871 384 2104 from the UK or +44 121 415 7052 from outside the UK between 8.30 a.m. (London time) and 5.30 p.m. (London time) Monday to Friday (excluding UK bank or public holidays). Calls will be charged at 8p per minute plus network extras. Calls to +44 121 415 7052 from outside the UK are chargeable at applicable international rates.

Capitalised terms used in this announcement have the meanings given to them in the Circular.

For further information please contact:

Cable & Wireless Communications Plc

Kunal Patel                   +44 (0) 20 7315 4083

Mike Gittins                  +44 (0) 20 7315 4184

Evercore (Sponsor)

Bernard Taylor               +44 (0) 20 7653 6000
Julian Oakley                +44 (0) 20 7653 6000

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