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Summary Financial Statement
Statutory information

Auditors’ statement to the members of British Telecommunications plc
We have examined the summary financial statement.

Respective responsibilities of directors and auditors
The directors are responsible for preparing the summarised annual report. Our responsibility is to report to you our opinion on the consistency of the summary financial statement within the BT shareholder annual review with the annual financial statements and directors’ report and its compliance with the relevant requirements of Section 251 of the United Kingdom Companies Act 1985 and the regulations made thereunder. We also read the other information contained in the summarised annual report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summary financial statement.

Basis of opinion
We conducted our work in accordance with “The auditors’ statement on the summary financial statement” issued by the Auditing Practices Board.

In our opinion the summary financial statement is consistent with the full annual financial statements and the directors’ report of British Telecommunications plc for the year ended 31 March 2001 and complies with the applicable requirements of Section 251 of the Companies Act 1985, and the regulations made thereunder.

Chartered Accountants and Registered Auditors
22 May 2001

(a) The maintenance and integrity of the British Telecommunications plc website is the responsibility of the directors; the work carried out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the summary financial statement since they were initially presented on the website.

(b) Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.


The auditors’ report on the full annual accounts for the year ended 31 March 2001 is unqualified and does not contain any statement concerning accounting records or failure to obtain necessary information and explanations.

This summary financial statement was approved by the Board on 22 May 2001 and was signed on its behalf by:

Sir Christopher Bland Chairman
Sir Peter Bonfield CBE Chief Executive
Philip Hampton Group Finance Director

Important note
This summary financial statement does not contain sufficient information to allow as full an understanding of the results of the group and state of affairs of the company or the group as would be provided by the full annual report. Shareholders who would like more detailed information may obtain a copy of the full annual report for 2001 and/or future years, free of charge, by completing and returning the request card that accompanies this annual review.
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