BLG Belgravia Tel.

RNS Number:3889R
Belgravia Telecom Ltd
19 September 2005



                    BELGRAVIA TELECOM LIMITED ("BELGRAVIA")

                           MEDPRI LIMITED ("MEDPRI")

                           POSSIBLE REVERSE TAKEOVER

Belgravia, a telecoms investment company whose shares are listed on the
Alternative Investment Market of the London Stock Exchange ("AIM") announces
that it has entered into Heads of Agreement with Medpri and Medical Monitors
Limited ("MML"), a company listed on the Australian Stock Exchange, whereby
Belgravia is proposing to acquire the entire issued share capital of Medpri
along with certain intellectual property and other property ("IP"), currently
licensed to Mepri, owned by MML and which has been conditionally acquired by
Medpri, by the issue of 61,425,000 ordinary shares in Belgravia credited as
fully paid.

If the transaction proceeds, it will be deemed to be a reverse takeover under
the AIM Rules and accordingly the quotation for Belgravia's shares on AIM has
been temporarily suspended.

The transaction will be subject inter alia to the shares of Belgravia being
readmitted to AIM and to the approval of Belgravia and MML shareholders.

It is intended that MML will distribute the shares in Belgravia it receives in
consideration for the IP and in respect of its shareholding in Medpri to
individual MML shareholders pro-rata to their existing holding save that MML may
retain up to 9.9% of its shareholding as an investment.

Medpri is a holding company with an 85.6% owned US based subsidiary (iCardia
Healthcare Corporation) providing advanced cardiovascular monitoring technology
and services for the non-hospitalised patient, a market estimated to be worth in
excess of US$1billion. Its current principal products and services enable
clinical grade monitoring and diagnosis of abnormal heartbeat including
arrhythmia, atrial fibrillation and aberrant heartbeat and the monitoring of
blood pressure.

Medpri has already contracted significant sales in the US cardiac monitoring
sector. iCardia delivers  ECG cardiac monitoring services using its 'single use'
monitoring technology, suPERTM, operating a national physician support center in
Lake Forest, Illinois, USA.

Medpri, through iCardia, holds an exclusive licence for the US in respect of
software and distribution relating to the IP owned by MML. Further, Medpri
directly holds a similar exclusive licence for Europe in respect of the relevant
software and distribution rights.

For further information, please contact:

James Butterfield                      Dr Mike Hudson                         Jeremy Carey/John West
Belgravia Telecom Limited              Medpri Limited                         Tavistock Communications
Tel: +44(0) 1534 840 888               Tel: +44(0)78 123 456 301              Tel: +44(0) 207 920 3150


Notes to Editors

Diseases of the heart are well known to be the leading cause of death in the
developed world with 4.1 million deaths. In the US, 480,000 persons die every
year, accounting for 40% of all deaths, and there are some 14 million Americans
living with a history of heart disease. Of those, 4 million have been diagnosed
with arrhythmia, or irregular heartbeat which may be a precursor to sudden
cardiac death if not controlled. The global arrhythmia management device market
is growing rapidly, as the world's population ages and cost-effective diagnosis
and management of heart rhythm disorders grows in importance.






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