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Welcome to the 1998 BT Annual Report & Accounts. This document is best read with the Adobe Acrobat Reader.

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Chairman's statement
An interview with Chief Executive, Sir Peter Bonfield
Business review
Financial review
Board of directors
Report of the directors
Auditors' report on corporate governance matters
Corporate governance
Report on directors' remuneration
Statement of directors' responsibility
Report of the auditors
Five year financial summary
Accounting policies
Consolidated financial statements
Notes to the financial statements
Subsidiary and associated undertakings
Quarterly analysis of turnover and profit
Financial statistics
Operational statistics
Regulatory statistics and information
Additional information for shareholders
Glossary

Additional information for North American users is available from the BT annual report on Form 20-F.

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Copyright British Telecommunications plc, 1998
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