APPENDIX TO SPONSORING ORGANIZATION’s PROPOSAL

C Vs FOR TELNIC DIRECTORS AND SENIOR MANAGEMENT

CHRISTOPHER KEMBALL

CHAIRMAN, TELNIC LIMITED

Christopher Kemball, 53, is an experienced senior executive, with a background in Corporate Finance and Capital Markets. In recent years his capital markets experience has been focussed particularly on telecommunications and related sectors.

From 1992 to 1999 he worked for Baring Bros, later ING Barings in several capacities. From 1994 to 1997 he was Global Head of Emerging Markets for Corporate Finance. After ING acquired Barings in 1997 he became Regional Head of Corporate Finance for EMEA in the combined firm, responsible for 500 staff in 11 international offices. Finally, in 1999 he became a member of the European Management Committee in ING Barings Limited, with responsibility for major client relationships and transactions in the region. In this role he he was rsponsible for teams carrying out major transactions in Poland, and capital raisings in the cellular telephone sector in Russia, Romania and Slovakia.

From 1986 to 1992 he was Managing Director and Partner in Dillon Read & Co Inc initially based in New York, and subsequently Co-Head of Europe, based in London. In this role he was responsible for developing the successful joint venture in London between Dillon read and Societe Generale de Belgique. He conceived and executed the firm’s strategy in corporate finance, European equity research and brokerage, and asset management, particularly development capital. He acquired extensive experience in the development capital sphere, raising 5 private equity funds in UK, France and Spain, the largest of which raised £200 mn. In 1992. The partners of Dillon Read bought the business from the owners, Travelers Insurance Company of the US. At that time Barings bought a 40% equity stake, conditional on Dillon Read transferring its European operations to Barings. This resulted in Mr Kemball transferring with the business to the Barings organization.

From 1975 to 1986 Mr Kemball was Director, Corporate Finance for Kleinwort Benson Limited. From 1984 to 1986 he was based in New York, focusing on US/UK mergers and capital raising. Prior to 1984 he was based in the UK corporate finance department in London, where he worked on a wide range of UK IPOs, equity capital issues, and mergers and acquisitions for publicly quoted companies. This included work on a number of UK privatisations of government owned corporations, requiring close liaison with the UK Treasury and other government departments.

From 1968 to 1975, Mr Kemball served in the British Army, achieving the rank of Acting Major. He served in Germany, and saw active service in Northern Ireland and the Sultanate of Oman. He was awarded the MBE (Gallantry) and the Sultan’s Distinguished Service Medal for Gallantry.

At the end of 1999 Mr Kemball left ING Barings at his own request to pursue a Non-Executive and advisory career. He is currently a Non-Executive at BPT Plc, The Davis Services Group Plc, and Control Risks Group Limited.

Mr Kemball has a degree in law from Cambridge University.

FABIEN CHALANDON

NON-EXECUTIVE DIRECTOR, TELNIC LIMITED

Fabien Chalandon , 47, is a French national, and is a senior banker for CHART in Europe. He has extensive experience in corporate finance, and from 1992 until recently was a private banker to one of the wealthiest families in France, running their investment company and their personal finances. He has been involved in the Telnic project since the end of 1999, as acting-Chief Executive Officer, and has been responsible for structuring the initial fund-raising to launch the project.

Mr Chalandon started his business career with Lazard Freres et Cie in Paris (1977), where he was active in the field of corporate finance in France, as well as business developments in Brazil. He remained with Lazards until 1983, with a one-year interruption, in 1979, when he was Commercial Attache at the French Embassy in Brazil.

Between 1883 and 1986, Mr Chalandon ran his own advisory firm, based in London, specialising n the oil-refining and distribution sectors. From 1986 to 1988, Mr Chalandon was a main board director of Parafrance, a French media group, where he carried out a restructuring.

From 1988 to 1992 Mr Chalandon was a senior corporate finance executive with the US investment bank Dillon Read, based in its London office, and focussed on extending its French business activities in mergers and acquisitions, private equity investment, and debt financing.

Mr Chalandon has extensive business experience in Europe, Brazil, Venezuela, India the Far East, and USA in mergers and acquisitions, private equity, wealth management, and in operating companies in France. Mr Chalandon sits on the boards of four private equity funds, Hibernia Capital Partners in Ireland, Access Capital Partners, Three Cities Research Europe, and Banexi Ventures II in France, is a co-gerant of the Paris based oil-exploration company Madison/CHART Energy and a board member of Sogeres, the third largest catering group in France, and of Teraillon Ltd., a world leader in scales.

Mr Chalandon is an occasional writer on political topics in several major French daily newspapers, is a graduate of HEC and a Chevalier de la Legion d’Honneur, the top French honour granted to him for his contribution to french financial and political affairs, at the personal request of the French President, Mr J Chirac.

RAYMOND F PIERCE

CHIEF EXECUTIVE OFFICER, TELNIC.

Ray Pierce, 54, is a seasoned senior executive, with experience at the highest level in general management, business development and marketing. He has been involved in the launch and development of three major businesses – Guardian Direct (a subsidiary of Guardian Royal Exchange (GRE) Plc), The Mortgage Corporation (a subsidiary of Salomon Inc), and American Express Financial Services. His senior management career culminated in his appointment in 1997 to the Main Board of GRE, then one of the top-100 companies on the UK Stock Exchange

From 1993 to 1999 he worked for GRE, joining the company initially to establish Guardian Direct, a direct insurance underwriter. Guardian Direct grew rapidly, and within 3 years was the third largest direct writer in the UK market for motor, home and health insurance, employing some 1000 staff in a virtual call-centre system. In 1997, Guardian Direct was named winner of the “European Call Centre of the Year” award, for outstanding customer service.

During his GRE career, Pierce was also appointed Managing Director for all UK General Insurance, in January 1997, responsible for three major business units and over 5000 staff. He was also responsible for rolling out the Guardian Direct business in other territories, specifically South Africa and Ireland. Finally, in 1997 he was appointed to the GRE Main Board, with worldwide responsibility for Marketing.

From 1992 to 1993 he was Chief Executive of Robson Rhodes, Chartered Accountants and Management Consultants. Prior to that period, from 1986 to 1991 he was a founding director of The Mortgage Corporation, a subsidiary of Salomon Inc, based in the UK. Pierce was initially Director of Marketing and Sales, and in 1990 became Chief Executive. From 1982 to 1986 he was a Vice-President with American Express with responsibilities covering the UK and Ireland. He was initially responsible for Strategic Planning and Business Development, and in 1984 became responsible for Consumer Marketing for all Amex Card, Travellers Cheques and Travel products.

Pierce has a first degree in Economics and Philosophy from the University of East Anglia, and a post-graduate qualification in Operational Research from Brunel University. He is Chairman of the Council of SPARKS (Medical Research) Charity, and a Trustee of the National Motor Museum in the UK.

He is currently Chairman of Dragons Plc, a small quoted UK company in the Health and Fitness sector, and Chairman of Homeowners Friendly Society Limited, a mutual financial organisation.

MARTIN K AUGIER

CHIEF FINANCIAL OFFICER AND DIRECTOR OF OPERATIONS

Martin Augier, 49, is an experienced finance and operational executive who has held senior positions in a number of major companies.

From 1996 to 1999 he worked for Guardian Royal Exchange (GRE) initially as the individual in charge of the integration of the RAC Insurance Service acquisition with Guardian Direct. This required the consolidation of the acquired operation, the closure of 5 different offices and the assimilation of the remainder into the Guardian Direct Operation. This created a virtual Telephone Service operation in 4 sites with over 1000 people linked.

After this he was asked to direct the Y2k project for GRE the parent company in the UK. This £50m project was swiftly brought under control and GRE suffered no mishaps on the change of Millennium. During this period he was made Executive Operations Director for GRE in the UK with a specific remit to restructure the entire operational base of the Company. In the process of this project the Company was acquired by AXA and Martin elected to accept the termination package to pursue other business ventures.

Between 1992 &1996 Martin worked as an Internal Consultant to Hill Samuel Bank a subsidiary of TSB who were going through a very difficult time. His role consisted mainly of managing the closure, sale or restructuring of a number of operating units of the Bank. Eventually after the merger of Lloyds & TSB it was decided to close the Bank.

During 1989 and 1990 Martin was the Executive Operations Director for the Household Finance Corporation which was going through a major changes and rationalisation. Martin was responsible in the time he was there for Opening a New Operating Centre for the Bank to handle all the Back Office functions previously handled in the Branches. This was a £20m project which resulted in the sustained reduction of 150 back office jobs.

Prior to this Martin spent 15 years at American Express where he started as an Internal Auditor and ended as Vice president of Operations for the UK. It was in this job that Martin gained the experience which has served him so well. He was responsible for all the customer service activities for the American Express Card Operation. He introduced the EFTPOS programme for American Express in Europe and was responsible for many innovations while he was VP of Operations and Finance Controller for the UK.

Prior to working at American Express Martin was an articled clerk at a small firm of Chartered Accountants in London, he qualified at his first attempt and one of the youngest ever to qualify as a Chartered Accountant at the age of 21.

Currently Martin is currently involved property development and 3 New Car Franchises in Sussex and also undertakes occasional consulting assignments.

CATHY BOSWORTH HORTON

DIRECTOR AND PARTNER OF SQUIRE, SANDERS & DEMPSEY

FULL DETAILS ARE INCLUDED IN THE REGISTRY OPERATOR’S PROPOSAL

ALAN PRICE

FOUNDER, AND SENIOR EXECUTIVE OF TELNIC LIMITED

Alan Price is 45, a UK national, and founding director of Telnic Limited.

Mr Price is a telecommunications and Internet expert, with extensive and in-depth knowledge and experience of the technological, business and legal issues raised in this revolutionary medium. Alan Price has a long experience in television and multimedia, this b