Marconi Becomes Telent

Remaining Marconi business offically becomes telent plc; shares will trade in London under the ticker TLNT

January 24, 2006

1 Min Read

LONDON -- Marconi Corporation plc (London: MONI) is pleased to announce that, with all relevant conditions precedent having been satisfied, Master Closing and Completion of the disposal of its telecommunications equipment and international services businesses to Ericsson has occurred.

The Company is pleased to announce that it will change its name to telent plc during the course of today, 24 January 2006. From 25 January 2006 telent plc's ordinary shares will trade in London under the ticker TLNT.

As set out in the circular to shareholders dated 25 November 2005 (the "Circular"), Master Closing constitutes closing of the transfer of the relevant businesses of the Company to Ericsson in Italy, Germany, the United Kingdom, the United States and the majority of the other jurisdictions. The remainder of the closings in the other jurisdictions will take place over the coming months.

As detailed in the Circular, the Return of Cash and related Share Consolidation are expected to take place in the first quarter of 2006. The exact timing of the Return of Cash and related Share Consolidation will be notified by an announcement on RNS. That announcement will also set out the record date for the entitlement to the Return of Cash and the Share Consolidation and give the date on which dealings in the shares (ex-dividend and post share consolidation) are expected to commence.

telent plc (London: TLNT)

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