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    SHARE AND ADS PRICESa  
  Pence per       US$ per
       ordinary share       ADS  
 
 
 
High   Low   High   Low
    pence   pence   $   $  

 
Years ended 31 March
                 
2002
  420.71   215.75   67.19   30.60  
2003
  286.25   141.00   41.95   23.16  
2004
  206.75   162.00   34.97   25.65  
2005
  216.25   169.25   40.93   30.34  
2006
  235.00   196.50   41.71   35.34  

 
Year ended 31 March 2005
                 
1 April – 30 June 2004
  198.50   169.25   36.60   30.34  
1 July – 30 September 2004
  197.50   177.50   36.80   32.66  
1 October – 31 December 2004
  206.00   180.50   40.07   32.61  
1 January – 31 March 2005
  216.25   196.50   40.93   37.71  

 
Year ended 31 March 2006
                 
1 April – 30 June 2005
  230.00   196.50   41.71   36.83  
1 July – 30 September 2005
  235.00   215.50   41.59   39.01  
1 October – 31 December 2005
  224.75   202.50   39.56   35.34  
1 January – 31 March 2006
  234.50   203.75   41.04   35.96  

 
Month
                 
November 2005
  216.75   203.50   37.69   35.34  
December 2005
  224.75   212.00   39.29   37.05  
January 2006
  223.25   203.75   39.67   35.96  
February 2006
  214.50   204.15   37.54   36.23  
March 2006
  234.50   208.00   41.04   36.75  
April 2006
  221.25   211.00   40.03   37.08  
1 May to 12 May 2006
  220.50   210.50   41.28   39.87  

 
a
The pre-19 November 2001 prices shown have been adjusted for the rights issue and demerger that occurred in the 2002 financial year.
   
The prices are the highest and lowest closing middle market prices for BT ordinary shares, as derived from the Daily Official List of the London Stock Exchange and the highest and lowest closing sales prices of ADSs, as reported on the New York Stock Exchange composite tape.
     Fluctuations in the exchange rate between the pound sterling and the US dollar affect the dollar equivalent of the pound sterling price of the company’s ordinary shares on the London Stock Exchange and, as a result, are likely to affect the market price of the ADSs on the New York Stock Exchange.
 
 
 
 

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