ETM Elitel Telecom

RNS Number:1756Z
Elitel Telecom S.p.A.
28 June 2007

28 June 2007

                             Elitel Telecom S.p.A.

                                  Suspension



Elitel Telecom S.p.A. ("Elitel" or the "Company"), the independent Italian
telecommunications group, announced on 13 June 2007 that the Company was in
discussions with its creditors which were expected to result in a substantial
reduction in the Company's debt position combined with a revised repayment
schedule, these discussions have not yet been concluded.

 As a result the Company's annual accounts for the year to 31 December 2006 can
not be yet be finalised and will therefore not be published on or before 30 June
2007. Accordingly, the Company confirms that it will not be able to comply with
Rule 19 of the AIM Rules requiring an AIM Company to send its annual accounts to
shareholders not later than six months after the end of the financial year to
which they relate and as a result will be immediately suspended from AIM.

The Directors expect that an agreement will be reached with creditors shortly
and they will be able to publish their annual accounts and restore the dealing
facility in due course.

Enquiries

Elitel Telecom S.p.A                                             +39 02 441 0410
Federico d'Este

Charles Stanley Securities (Nominated Adviser)               +44 (0)20 7149 6000
Russell Cook/Freddy Crossley




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