Conference Call

The move comes after the government announced yesterday it was renegotiating SLT
quote s management contract with Nippon Telegraph & Telephone Corp. (NTT) of Japan.

rnrnldblquote The announcement is part of a plan to restructure SLT,
dblquote Chairman Thilanga Sumathipala said.

rnSLT loses its monopoly on local and international calls in August, and Sumathipala says, ldblquote with the current monopolistic situation, we feel SLT is not ready to take on the challenge of the future
dblquote .

rnThe restructuring plan would be based on the recommendations made by the Telecom regulator under its national telecom policy.

rnrnldblquote Once things are in place we will be more focused to look out for a partner,
dblquote he said.

rnSLT is 35 percent owned and managed by NTT, while the government owns 61.5 percent and employees hold the remainder.

rnNTT
quote s contract lapses in August, when SLT loses its monopoly on international gateway.

rnSumathipala said that the government may look at extend