This is one of those shares that one should seriously consider a stake in. OST has transformed itself in recent months and has a massive potential. Its market cap is small and has recently made two acquisitions, Matrix Network Solutions which is profitable and a 50% stake in Norwood Adam which is expected to be profitable in 2004. OST is in its infancy and is very bullish about its prospects particuarly through Matrix, which is in a major growth area for telecoms. With a market cap around 7m its could well prove to be very rewarding.
Have a look at www.matrix.co.uk

OST further anounced duing December the acquisition of Intrinsic Networks for a consideration of up to 2m part cash part shares.

" Established in September 2002 by Peter Drinkwater and Andy Mills, Intrinsic Networks represents the next generation of Network Security Integrator, providing integrated high performance solutions to large corporate enterpise 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 has formed strategic parnerships with a select group of US security manufacturers including NetScreen, Fortinet, Sanctum, CipherTrust, Bluecoat and Cerberian.

Intrinsic are already making a profit, but will have to meet targets to receive the full consideration.

January 2004 sees Daniel Stewart and Company Plc as nominated adviser and broker.
www.danielstewart.co.uk

DATES OF IMPORTANT ANNOUNCEMENTS.
3rd July 2003. To focus on Matrix IT ops
2nd October 2003 Order signed with XchangePoint.
10th November 2003 Acquistion of Norwood Adam.
12th December 2003 Acquisition of Intrinsic Networks.
14th January 2004 Appointment of Daniel Stewart as Nominated Adviser & Broker

broker just released a buy recommendation as this undervalued and says that it should be at least 0.0185 and that is putting it conservativly

mm short of stock just had to mm buys of 1mill and500k
will double in the next couple of days!!!

FOR IMMEDIATE RELEASE 19 January 2004


Offshore Telecom Plc
to be renamed
Matrix Communications Group plc

RESULTS FOR THE YEAR ENDED 31 OCTOBER 2003


Offshore Telecom Plc, the supplier of high performance IT network solutions to
the public and private sectors in the UK, has announced its unaudited results
for the year ended 31 October 2003.


Key points:

* Business transformed into rapidly growing, profitable supplier of high
performance IT network solutions.

* Name of group to be changed to Matrix Communications Group plc,
subject to shareholders' consent.

* Ongoing Matrix business achieved an operating profit of 176,000 on
revenue of 1.3m since becoming part of the group on 29 April 2003.

* The original satcom business incurred an operating loss of 401,000 on
turnover of 328,000 and has been closed.

* Total group turnover was 1.7m (2002: 260,000). After one-off
charges, the loss before tax was 428,000 (2002: loss of 665,000) and the
loss per share was 0.06p (2002: loss of 0.29p).

* Net cash at 31 October 2003 was 161,000 (2002: 3,000).

* Since the year end, the business has been expanded by the acquisition
of a 50% interest in Norwood Adams Technical Services and the acquisition of
Intrinsic Networks.


On outlook, Michael Frank, Chairman, stated :

'The Matrix group is building a rapidly growing, profitable integrator of IT
networks. The recent acquisition of Intrinsic Networks takes us into IT
security systems - one of the fastest growing segments of the network market -
and our interest in Norwood Adam Technical Services secures our ability to
support our customers.


'Order intake in the current year has started strongly and we are in advanced
negotiations and trials on a number of substantial new business opportunities.
The group now has a clear sense of purpose and direction and expects to deliver
good results in the future.'

San Jose, CA, Dec. 18, 2003 Foundry Networks Inc. (Nasdaq: FDRY) has signed a contract lasting up to five years with BBC Technology, provider of products and services to both the BBC and other global media-driven organizations, to purchase and install Foundry Networks networking solutions, including Internet routers, Layer 2/3 and Layer 4-7 switch technology and associated services.

Through the contract, Foundry Networks networking technology will assist with the BBCs migration to tape-less television and radio program production, based on the use of Internet Protocol (IP) networking.

John Varney, the BBCs Chief Technology Officer, said, I believe the next five to ten years will be an immensely exciting period for the BBC. The broadcast industry is on the verge of a network-enabled transformation; a revolution that will radically change the program making process, and bring with it new opportunities for collaborative working and creativity.

Digitized audio and video program content will be transferred using IP networks, a shift away from a reliance on traditional point-to-point broadcast networks. Converged IP-based backbone networks will also help to improve the efficiency and creativity of program creation staff by offering greater freedom in accessing editing capabilities and archival material.

The contract was signed in July 2003, with a contract effective date starting back in April 2003 a framework agreement lasting up to five years. The agreement covers all Foundry Networks switch and Internet routing products installed over time throughout the BBCs various sites.

Bobby Johnson, Foundry Networks president and CEO, says, We think our switching expertise and seven years of proven performance with more than 6,200 customers worldwide will help our latest broadcasting customer meet its specific challenges of low latency, high performance and reliability.


About Foundry Networks
Foundry Networks, Inc. (Nasdaq: FDRY) is a leading provider of high-performance enterprise and service provider switching, routing and Web traffic management solutions including Layer 2/3 LAN switches, Layer 3 Backbone switches, Layer 4 - 7 Web switches and Metro Routers. Foundry's 6,200 customers include the world's premier ISPs, Metro service providers, and enterprises including e-commerce sites, universities, entertainment, health and wellness, government, financial, and manufacturing companies. For more information about the company and its products, call 1.888.TURBOLAN or visit www.foundrynetworks.com.

Foundry Networks, IronPoint, IronView, JetCore , FastIron and the Iron family of marks are trademarks of Foundry Networks, Inc. All other trademarks are the sole property of their respective holder

It's on the front page of the report re the BBC contract:-
* "Matrix provides complete network, security and storage solutions, from consultancy and design to implementation supported by maintenance revenues. The primary sales driver is from acting as a value added reseller (VAR) for Foundry Networks Inc (FDRY.US).

* "The current client list is impressive and includes Guardian Media, Honda and the BBC together with a growing number of local authority contracts........This is testament to the quality of operation and management at Matrix."

Folks

What kind of level do you think this will reach?

G12

hi golf

the brokers posted a report on tues to say this was way undervalue,they estimate it to be a min 1.95 and that was a conservative figure,i beleive it to be about 3-4p on good news which i beleive we will see soon as the full year report says they have substantial orders in the pipeline

mistermagoo
imho, dyor

p.s. this company is in profit and has no debt!!!!!!!!!!!!!

any comment on this comapny?