This share has taken off over recent weeks. The management has transformed the company. Offshore Telecom presents an exciting opportunity. Rival BBs are very active on this share. It is time for MoneyAM BBs to join in the fun.


Offshore Telecom Plc

KEY NEW ORDER SIGNED WITH XCHANGEPOINT

Offshore Telecom Plc ("Offshore Telecom") announces that its principal operating subsidiary, Matrix Network Solutions ("Matrix") has received a letter of intent from XchangePoint Europe Ltd. ("XchangePoint") for orders which are expected to generate revenues of 500,000 over the next two years.

XchangePoint is a leading provider of metro-area internet interconnect services. It offers its customers an extensive range of services that enables them to balance their peering, transit and access requirements through a single connection on the XchangePoint platform. XchangePoint currently operates mainly in London and in Hamburg, Germany and is planning to expand its services into at least two additional major European Cities over the next two years.

At the outset, Matrix will provide outsourced network support services to assist XchangePoint in rolling out its services into mainland Europe. Matrix will also supply and install the communications networks and associated equipment for this expansion.

Ian Smith, Offshore Telecom's Chief Operating Officer, commented :

"This is the first announcement of a number of significant new contracts won by Matrix in recent months. The XchangePoint contract will contribute some revenue in the current year, but the bulk is likely to be booked in our financial years starting in November 2003 and 2004."

Richard Almeida, CEO XchangePoint added:

"XchangePoint is very pleased to be working with Matrix as a trusted business partner for network services, contributing heavily to earlier implementation of our business plans and vastly improving on the traditional supplier approach. This will accelerate the roll-out of our newly funded plan to grow XchangePoint's business into Europe"

The key is in the research...

Given that Ian Smith used to be the Sales Director of Foundry in the UK and that he is now heading up a Foundry integrator you don't think that he might have brought some of this business with him? Arguably he would still be leveraging a considerable amount of relationship and this will not last forever.

IMHO Only sustained growth will prove that ost will go anywhere.

It would be interesting to know exactly how many of the new contracts are Foundry..

charybdis. Interesting posting. News is news and I for one will welcome it with open arms. Is this the 'Foundry' you were talking about?

Foundry Networks, Inc. (NASDAQ: FDRY) is one of the world's leading next-generation networking companies. They provide end-to-end Global Ethernet and intelligent traffic-management solutions. Products include Internet routers, Layer 2/3 LAN switches, and Layer 4-7 web switches with integrated Internet traffic and content management.

Their products are performance led, wire-speed, non blocking architecture's provide an extremely scalable and capable network infrastructure. Many traditionally hardware based features have been integrated in ASIC's for hardware based delivery of data services. Currently they are the only manufacturer to offer a scalable and inexpensive IP billing solution and also have 95%+ of the 10 Gigabit Ethernet market worldwide. They also occupy the No. 1 position in the L4-7 switching market.

Foundry have more than 5000 customers worldwide, including the world's leading enterprises, Internet-based businesses, Education Establishments, Metro Area and Internet service providers and many other institutions.

Matrix Network Solutions are an integrator of Best of Breed business solutions, delivering the expertise to seamlessly evolve complex IT environments in an ever changing business landscape. Voice and data services have become the lifeblood of today's enterprise, with the ability to communicate with customers, suppliers and internally securely, key in delivering the flexibility required to operate efficiently, with a core focus on the two interrelated technology areas of:

Communications and networking infrastructure services ("Network Solutions")

Electronic commerce and security solutions

Hi all

Lets hope the wait is not too much longer.

Good luck

Hi Martin
I would expect announcements to be made in November and December. Should give the share price a good boost when they come. It is believed that we will get some news next week.

Ian Smith, Offshore Telecom's Chief Operating Officer, commented :

"This is the first announcement of a number of significant new contracts won by Matrix in recent months. The XchangePoint contract will contribute some revenue in the current year, but the bulk is likely to be booked in our financial years starting in November 2003 and 2004."

charybdis: You seem pretty knowledgeable about this industry. Do you work for Foundry?

martincoops
It will be interesting to see what will happen to the share price at 2PM. The MMs seem to move the price one way or another at this time. With steady buying today, maybe the price will be hiked higher.

Hope so as it is my only stock not in the blue.

Cheers

Martin

martin. Trust you won't have to wait too long. Looking positive. Steady buying all day. Expecting announcements this month. Remember the price was once 3.75p and that was before OST reinvented itself.

it seemed they didn`t move a lot in the last few days.

ckmtang: I agree. Not much going on today. Still does not detract from their prospects. Activity will increase as further announcements are made. Think the name will soon be changed to Matrix. Logging on to Offshore's website immediately gets you transferred to Matrix.

About Offshore telecom plc
Together with our Matrix Network Solutions division, we integrate Best of Breed IT solutions to the desktop with full global connectivity via satellite between office locations, internal networks, suppliers and customers worldwide. Our emphasis is on detail, flexibility and quality of service, aiming to surpass the expectations of the most discerning and demanding of clients.

Ian Smith, Offshore Telecom's Chief Operating Officer, commented on XchangePoint contract :

"This is the first announcement of a number of significant new contracts won by Matrix in recent months. The XchangePoint contract will contribute some revenue in the current year, but the bulk is likely to be booked in our financial years starting in November 2003 and 2004."

martin. This is one of those shares that everyone should have a stake in. Wireless technology is the growth area of the industry. Just look at Vodafone in its infancy and now its a billion dollar business. OST is small fry at this stage and has massive potential. Its market cap is small, it has purchased two profitable operations and the orders are coming in. Once we get the announcement of those other significant contracts, the price will fly. Hold tight. The fun has not yet started.

Hi agwoodisse

OST going on a go slow at the moment but I expect people are waiting for the next announcment which should'nt be long.

I intend to add shortly after CWV slows down.

Cheers

Martin

More good news on wireless networks today from Datamonitor.

This from http://news.zdnet.co.uk/communications/networks/0,39020345,39118069,00.htm

"The public sector will play a leading role in driving the take-up of wireless networking over the next three years.

That's a key finding from the latest research from analyst group Datamonitor, which predicts strong growth for Europe's enterprise wireless local area network (LAN) market by 2006.

According to the report, wireless LANs will become much moreprevalent in both the education and healthcare sectors, as organisations attempt to make employees more productive and better connected."

Also this from http://www.onrec.com/content2/news.asp?ID=3253

"Revenues from deployment of WLAN in enterprise locations set to surpass $1.3 billion by 2006
24/11/2003

Wireless LANs (WLANs) deployed within enterprise locations enable laptop or PDA-carrying employees to access corporate network resources, potentially enabling significant improvements in productivity. According to a new report by independent market analysts Datamonitor (DTM.L), the prospects are healthy for vendors of WLAN equipment."

still holding..... but nothign really change? when will be rise again?

Matrix has built a one million pipeline of business across all the sectors in which it operates. Its many customers include major 'blue chip' technology companies, business operating in formula 1 motor racing, sports car manufacturing and outsource servie contracting as well as a number of public sector entities including four educational institutions and two local authorities.
This encouraging progress by matrix means that, going forward the business is now based on profitable operation with significant opportunities for growth.
It's "All about Broadband Wireless"
Telecom outfits, battered from a three-year industry downturn, are pinning their recovery hopes on wireless broadband. It's one of the sector's bright spots -- the wireless data market is growing at double-digit rates around the world
BW Online, 10/13/03, "For Telecom, Wireless Signals Hope"). Sean Maloney, general manager of the communications group at chip giant Intel (INTC), believes that the technology could shake up some business models, just as the Internet did when it first hit the mass market
From the 50% acquisition announcement re NATS:-Michael Frank, Chairman, said:
"This deal will improve the quality and depth of our offering to the market and,critically, will give us control of our support operation. We expect this to become a major contributory factor to our future growth. Meanwhile, NATS is making excellent progress in its own right and we expect it to achieve a
substantial growth in turnover and to become profitable in the year to April
2004."

just noted a little tick up. dosn't appear to be a buy, but could be a delayed buy - or mm playing with spread. either way still looking good for a short term gain . imo

not much move recently////

Morning ckmtang: Bit quiet I agree. Thought you would be interested in this posting from another BB:

cableguy00 - 1 Dec'03 - 09:28 - 222 of 229
Good Morning All,
Well, the last month of the year gets off to a fine start.
Mr Ian Smith himself (COO) was kind enough to answer my couple of questions, and let me tell you firstly that he’s a darn conscientious man as my first e-mail reply was sent to me on the weekend at 8am and just to clarify a minor point I replied back, to which he responded before 7.30am this morning. Excellent eh…
Before I post the text of my queries, Mr Smith has stated that he is happy to address correspondence from fellow shareholders but would prefer (naturally) not to be inundated.
To which end, may I offer that your queries can be passed through myself via this BB as a point of contact. Also, I’m sure everyone understands that he cannot tell us anything that may be considered to be ‘market sensitive’ which is (for the record) the case with his reply to me.
He is now also aware that we discuss OST/Matrix on ADVFN and is glad to see that they have a following in the company.
So, with that clarified, my next post contains a complete synopsis of our contact – see below.


cableguy00 - 1 Dec'03 - 09:28 - 223 of 229
Ok then, firstly I asked about "This is the first announcement of a number of significant new contracts won by Matrix in recent months.” Which was contained in the RNS of 2nd Oct 2003.
Mr Smith replied that they have a number of pending news releases as they have received verbal permission from the customers and they are now translating these to actual statements and case studies. These would be expected to be seen in the New Year.

Next I asked about the name being changed.
Mr Smith said that this was likely to happen at or about the same time as the release of the audited accounts and the AGM.

Now this is the best bit –
My last question was actually – “Finally, approximately when is it intended to release your end-of-year audited accounts for trading up to 31st Oct 2003 or is this more likely to be in April 2004 as last year's were in the same month.”
Mr Smith replied that they were pushing very hard to achieve this before the end of the year – 31 Dec 2003.
My personal opinion on this is that it would indeed be a big achievement to get their accounts tied up and released by then as the full year ended on 31 October and this would be only TWO months but I, for one, am happy if it’s a bit longer.

All in all, it appears to me that they’re working very hard. Furthermore they’re also looking forward to providing to shareholders increased communication of the company’s activity and appreciate our interest.

So there ye go – hope y’all have a good week
Kind Regards
Cableguy00

RNS Number:1797T
Offshore Telecom PLC
12 December 2003


FOR IMMEDIATE RELEASE 12 December 2003


Offshore Telecom Plc

ACQUISITION OF INTRINSIC NETWORKS FOR UP TO #2M
and
BOARD APPOINTMENT


Offshore Telecom Plc ("Offshore Telecom"), the supplier of high performance IT
network solutions to the public and private sectors in the UK through its
principal operating subsidiary, Matrix Network Solutions Limited ("Matrix"), has
acquired Intrinsic Networks Limited ("Intrinsic") for a consideration of up to
#2 million.

Established in September 2002 by Peter Drinkwater and Andy Mills, Intrinsic
Networks represents the next generation of Network Security Integrator,
providing integrated high performance networks security and application security
solutions to large corporate enterprise customers, mobile service providers,
financial service providers and various public sector organisations. Intrinsic
Networks has already built a significant 'blue chip' customer base, which
includes Vodafone and Yorkshire Water, amongst others.

Intrinsic Networks provides customers with a range of integrated network and
application security solutions, planning, consultancy, project management and
support services. Additionally, Intrinsic Networks has formed strategic
partnerships with a select group of US security manufacturers including
NetScreen, Fortinet, Sanctum, CipherTrust, BlueCoat and Cerberian.

Intrinsic Networks continues to be innovative in its dynamic approach to
providing leading edge security solutions.

Although historic audited financial information is not yet available, management
accounts for the period from commencement of trading until 30 November 2003 show
revenue of #761,000 and a profit before tax of #118,000. Net assets being
acquired are #174,000, including cash of #141,000. These results are drawn up
on accounting policies consistent with those of Offshore Telecom.

Offshore Telecom has paid an initial consideration of #600,000 of which #300,000
was paid in cash and #300,000 in new ordinary shares in Offshore Telecom
(37,500,000 shares at 0.8p). Subject to the achievement of agreed performance
targets, a further payment of #300,000 in cash and #300,000 in shares may be
made after 29 February 2004 and a final payment of #800,000 may be made in
shares after 31 October 2004. For each of the further payments the new shares
will be issued at 0.8p per share. In order for the vendors to receive the full
earn-out consideration, Intrinsic will need to achieve revenues of #1.8 million
and operating profits of #400,000 for the period from 1 December 2003 to 31
October 2004. The vendors have agreed to retain any Offshore Telecom shares
received as initial and earn-out consideration for at least one year from
receipt.


Peter Drinkwater (aged 39) has joined the board of Offshore Telecom following
completion of the acquisition. Peter has considerable experience within the IT
security systems market, having held senior sales and marketing positions with
NetScreen Technologies, Network Associates, 3 Com (UK), Bay Networks and Cray
Communications.


Michael Frank, Chairman, said :

"Intrinsic Networks complements Matrix's existing IT network sales and support
activities and takes the group more deeply into the arena of IT security - one
of the fastest growing segments of the market. A key benefit of the deal is the
excellent opportunity for cross-selling between the customer bases of both
Matrix and Intrinsic.

"This acquisition is in keeping with the group's strategy to build a high
performance integrator of leading edge technologies.

"We are now well on our way to building a rapidly growing and profitable IT
network and security business."


For further information please contact:

Michael Frank, Chairman Tel: 07802-787624
Ian Smith, Chief Operating Officer Tel: 07811-327054

Steve Liebmann, Bankside Consultants Tel : 07802-888159 / 020-7444-4163



Additional information relating to Peter James Drinkwater :

Current directorship : Intrinsic Network Solutions Ltd.

Former directorships within the last five years : none

No further disclosures are required in accordance with Schedule 2 (f) of the AIM
Rules.



This information is provided by RNS
The company news service from the London Stock Exchange
END