Avanti Communications

Placing, New Satellite

£70m to be raised at 430p / share

Proceeds to help finance 3rd Satellite; to redomicile assets; to help pay down expensive loans

Company also plans to eventually move to LSE main market

Positive developments given management track record on financing

Poised for lift off

Launch date with a Soyuz vehicle has been confirmed for September this year and is good news for investors who have been patient; many of the factors leading to the delay have not been in management‟s control.

At the interim results in February this year, management commented that following the announcement of HYLAS 2 they had received a number of unsolicited calls enquiring about capacity sales. These have turned into commercial deals and Avanti has entered into contracts with three parties, including Hughes.

Premier League

Equity and debt finance secured for second Ka Band satellite

A transformational deal that triples capacity, covers new geographic markets and endorses Ka Band strategy

Fair value per share now seen in range of 830p to 1100p, materially above current levels despite strong  performance

HYLAS 2

Equity placing and debt facilities to fund proposed second satellite

£86m raised at £4 / share, subject to General meeting

£194m debt provided or guaranteed by US and French export credit agencies at favourable rate

Progress justifies strong share move

Profit reported against expectations

HYLAS satellite on track for launch

Recent takeover of Wildblue in USA validates strategic value of Ka bandwidth

HYLAS alone valued at 525p / share, still well above current levels