BT Annual Report on Form 20-F has been prepared solely to meet the requirements
of US and Canadian law and regulation.
American Readers may only make use of the Report in accordance with the
Report is not intended nor should it be treated as an investment advertisement,
but instead exclusively as general background about BT.
American Readers must not rely upon the fact the fact that anything
is included in or omitted from the Report in relation to any decision
to do or refrain from doing anything (including dealing, or refraining
from dealing, in any securities) or for any other purpose.