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OpenNet is selected to be Singapore’s Next Generation National Broadband Network Company

OpenNet to provide Singapore´s Open Access fibre grid Singapore

26 September 2008 – OpenNet (Axia NetMedia Corporation 30%, Singapore Telecommunications Limited 30%, Singapore Press Holdings Limited 25% and SP Telecommunications Pte Ltd 15%) is pleased to announce that its proposal to provide passive fibre grid services for Singapore´s Next Generation National Broadband Network (NGNBN) has been selected by the Infocomm Development Authority of Singapore (IDA).

OpenNet will complete the contracting process with the IDA as planned within the next seven months and expects that the Singapore-wide fibre grid will be completed by June 2012. This fibre grid will be made available at very compelling prices to all parties qualified by the IDA, on equal terms. When completed, OpenNet will provide Singapore an open, better and faster fibre-to-the-home network.

OpenNet will offer wholesale prices of $15 per-month-per-residential end-user and $50 per-month-per-non-residential end-user, which will allow IDA-qualified parties to offer new services and choice at affordable prices for end customers. OpenNet will progressively roll out the network beginning in 2009, achieving 60% roll out by December 31 2010, and 95% by June 30 2012. OpenNet will utilize existing underground ducts from SingTel and apply proven, stringent construction standards for the fibre roll out, thus minimizing traffic disruption and inconvenience to the public.

During the construction and commissioning phase, OpenNet estimates its costs to be in the order of S$1 billion. OpenNet expects to spend S$1 billion to S$2 billion over the 25-year license period for access to infrastructure. Spending in this respect is based on the adoption of OpenNet´s services by its customers. OpenNet is eligible for up to $750 million of Government financial support. OpenNet forecasts its shareholder investment requirements to be in the range of S$120 million to S$160 million, which will be required during the construction and commissioning phase. Shareholder investment is primarily dependent on the speed and quantity of the market take-up of OpenNet´s services.

Mr. Art Price, Chairman and CEO, Axia NetMedia, said: “OpenNet´s approach is future proof with no compromises from either the technology or business structure perspectives. OpenNet´s solution under the oversight of the IDA is the right cornerstone to enable Singapore to lead in the evolving digital/knowledge economy.”

Mr. Allen Lew, SingTel’s CEO Singapore, said: "We are pleased that OpenNet’s proposal, which exceeds the requirements of the iN2015 blueprint in areas like design and timeline, has been recognised and accepted by IDA. The compelling proposal is a result of the strengths of each consortium partner, such as SingTel’s extensive high-quality network of ducts, technical expertise and our considerable experience in deploying fibre in Singapore."

Mr. Alan Chan, CEO, SPH, said: "OpenNet´s proposal will help realize Singapore´s vision of being a next generation city. The NGNBN paves the way for an advanced broadband infrastructure, supporting seamless connectivity which will boost Singapore´s competitiveness and attractiveness as a global business and infocomm hub. At the same time, Singapore will experience faster and better broadband access than ever before to harness the full power of the internet. SPH is indeed privileged and excited to be a member of the team that will deliver part of Singapore’s visionary iN2015 project."

Mr. Ong Boon Hwee, Director, SPT, said: “We are delighted OpenNet´s proposal to build the passive infrastructure for the Next Generation National Broadband Network has been selected. Together, the consortium members have a vast range of proven skills and experience to ensure the efficient execution of this major project. We look forward to this opportunity to help realise IDA´s vision of making Singapore a global infocomm hub.”

The OpenNet consortium is composed of Axia NetMedia Corporation (30%), Singapore Telecommunications Limited (30%), Singapore Press Holdings Limited (25%) and SP Telecommunications Pte Ltd (15%).

Axia NetMedia Corporation provides Real Broadband™ IP services and solutions through planning, designing and operating no-conflict Open Access Next Generation Networks. Canada-based Axia NetMedia has vast experience planning, designing and operating truly open access next generation networks in Canada and Europe. Their business model drives healthy competition in the market to bring consumers choice and new offerings at affordable prices. Axia trades on the Toronto Stock Exchange under the symbol “AXX”. For more information, please visit its website at www.axia.com.

SingTel is Asia´s leading communications group providing a portfolio of services including voice and data services over fixed, wireless and Internet platforms. It has a network of 37 offices in 19 countries and territories throughout Asia Pacific, Europe and the United States. Together with its regional partners, SingTel is Asia´s largest multi-market mobile operator, serving more than 198 million mobile customers in eight markets. For more information, please visit www.singtel.com.

Main board-listed Singapore Press Holdings Ltd (SPH) is the leading media company in Singapore, delivering news and information through print, Internet and broadcasting platforms. It publishes 14 newspapers in four languages and over 100 magazine titles in Singapore and the region. Every day, some 3 million individuals, comprising more than 80 percent of people above 15 years old, read one of SPH´s news publications. SPH´s internet editions of its major newspapers enjoy over 150 million page views with 9 million unique visitors each month. Other new media initiatives include SPHAsiaOne, ST701, STOMP and ST RazorTV. SPH has also invested in telcos, broadcasting, outdoor advertising and properties. For more information, please visit www.sph.com.sg.

SP Telecommunications Pte Ltd, a member of Singapore Power Group, provides telecom infrastructure services. It has a Facilities Based Operator (FBO) licence from IDA. The company leverages on Singapore Power´s extensive expertise and experience in managing and developing infrastructural assets. For more information, please visit www.singaporepower.com.sg

Media Contacts:

Dawn Tinling
Vice President, Investor Relations and Communications
Axia NetMedia Corporation
Tel: +1 403-538-4074
Mobile: +1 403-463-0091
Fax: 403-538-4011
Email: dawn.tinling@axia.com

Chia Boon Chong
Deputy Director, Corporate Communications
Singapore Telecommunications Limited
Tel: +65 6838 2022
Mobile: +65 9678 3716
Fax: +65 6733 1350
Email: boonchong@singtel.com

Chin Soo Fang
Head, Corporate Communications Division
Singapore Press Holdings
Tel: +65 6319 1216
Mobile: +65 9688 6209
Fax: +65 6319 8150
Email: soofang@sph.com.sg

Ida Lim
Head, Corporate Communications
SP PowerGrid Ltd
Tel: +65 6823 8097
Mobile: +65 9106 3782
Fax: +65 6820 2608
Email: idalim@singaporepower.com.sg