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The
company does not believe there are any pending legal
proceedings which would have a material adverse effect
on the financial position or operations of the group.
Proceedings
have been initiated in Italy against 21 defendants,
including a former BT employee, in connection with the
Italian UMTS auction. Blu, in which BT held a minority
interest, participated in that auction process. The
first hearing has been scheduled for 11 July 2003, in
Rome. If the proceedings are successful, BT could be
held liable, with others, for any damages. The company
has concluded that it is not appropriate to make a provision
in respect of any such potential claim.
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