Telstra Acquires UK NetworkTelstra Acquires UK Network

LONDON -- Telstra Europe Limited (Telstra), a wholly owned subsidiary of Telstra Corporation, Australia's leading communications company, and Powergen Retail Limited (Powergen) today announced that Telstra will buy Powergen's UK telecommunications network (formerly called "Hurricaneseye").

Under the agreements, Telstra will become the owner responsible for the ongoing operation of the telecommunications network. Powergen will continue to own, service, bill and support its customers on a 'business-as-usual' basis. Existing Powergen telecoms customers will not be impacted as a result of this deal.

Ownership of the network will allow Telstra to enhance the services offered to its existing corporate and reseller customers and provides it with a platform to further expand its existing portfolio of voice and mobility solutions and international data services.

David Thorn, Regional Director, Telstra Europe, said that whilst the operation of the network and infrastructure to support Powergen's customers is an important and valuable asset for Telstra, owning and operating it is business as usual for the company. David said: "Telstra's core focus in the UK is servicing and supporting the telecoms needs of large companies which we've been doing for a number of years."

Paul Golby, Chief Executive, Powergen UK, said: "This is great news for Powergen as it enables us to focus on our core energy business while continuing to provide an excellent, highly-competitive telecoms service. This is reassuring news for all Powergen home and business telecoms customers."

Telstra Corp.