is one of Europes leading providers of telecommunications
services. Its principal activities include local, national and
international telecommunications services, higher-value broadband
and internet products and services, and IT solutions. In the UK,
BT serves over 20 million business and residential customers with
more than 29 million exchange lines, as well as providing network
services to other operators.
plc is a public limited company registered in England and Wales,
with listings on the London and New York stock exchanges.
This is the annual report for the
year ended 31 March 2004. It complies with UK regulations and
is the annual report on Form 20-F for the Securities and Exchange
Commission to meet US regulations.
This annual report has been sent
to shareholders who have elected to receive a copy. A separate
annual review and summary financial statement for the year ended
31 March 2004 has been issued to all shareholders.
this annual report, references to BT Group,
BT, the group,
the company, we
or our are to BT Group plc (which includes
the continuing activities of British Telecommunications plc) and
its subsidiaries and lines of business, or any of them as the
context may require.
References to the financial
year are to the year ended 31 March of each year,
eg the 2004 financial year refers to the
year ended 31 March 2004. Unless otherwise stated, all non-financial
statistics are at 31 March 2004.
Please see cautionary
statement regarding forward-looking statements.
was incorporated in England and Wales on 30 March 2001 as Newgate
Telecommunications Limited with the registered number 4190816.
The company changed its name to BT Group plc on 11 September 2001.
Following the demerger of mmO2 in November 2001, the
continuing activities of BT were transferred to BT Group.
BT Groups registered office
address is 81 Newgate Street, London EC1A 7AJ.