2002 £m	2001 £m
Contracts placed for capital expenditure not provided in the accounts	740	1,231
Operating lease payments payable within one year of the balance sheet date were in respect of leases expiring:
Within one year	13	7
Between one and five years	11	32
After five years	314	110
Total payable within one year	338	149

Future minimum operating lease payments for the group at 31 March 2002 were as follows:	2002 £m
Payable in the year ending 31 March:
2003	338
2004	342
2005	346
2006	352
2007	355
Thereafter	9,923
Total future minimum operating lease payments	11,656

Operating lease commitments were mainly in respect of leases of land and buildings.

At 31 March 2002, other than disclosed below there were no contingent liabilities or guarantees other than those arising in the ordinary course of the group's business and on these no material losses are anticipated. The group has insurance cover to certain limits for major risks on property and major claims in connection with legal liabilities arising in the course of its operations. Otherwise, the group generally carries its own risks.

The group has provided guarantees relating to certain leases entered into by O2 UK Limited prior to its demerger with mmO2 on 19 November 2001, amounting to US$91 million (£64 million) as at 31 March 2002. mmO2 plc has given BT a counterindemnity for these guarantees.

The company does not believe there are any pending legal proceedings which would have a material adverse effect on the financial position or results of operations of the group.

Subsequent events
On 1 April 2002, the Concert global joint venture was unwound with the businesses, customer accounts and networks being returned to the two parent companies, with BT and AT&T each taking ownership of substantially those parts of Concert originally contributed by them. Some 2,300 people have joined BT on completion. The working capital and other liabilities of Concert on completion were divided equally between BT and AT&T, with the exception that BT receives an additional US$400 million reflecting the allocation of the businesses. Of this, US$50 million was received before 31 March 2002. US$161 million has subsequently been received and the balance is expected to be received in Autumn 2002.

On completion BT ceased to have any interest in AT&T Canada, and was released from its future expenditure commitment associated with AT&T Canada.

The profit and loss account reflects a charge of £253 million for the estimated Concert unwind costs.