Project Milestones

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Project Milestones..

EASSy Project Achievements
  Detailed Feasibility Study (DFS) completed
: DFS confirmed outcomes of the Preliminary Feasibility Study
      - EASSy is commercially viable
      - System Configuration Defined

Access and Investment Participation
   : Open, non-discriminatory Access policy adopted by EASSy
      - Access limited only by national regulatory rules
      - Has led to entry by even recently licensed entities.
      - Proactive and Extensive marketing effort by EASSy to bring all         legible parties on board

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Project Milestones | Global Connectivity | Onward Connectivity

Activity	Time Frame
Sign MOU	Q4 2003
Detailed Feasibility Study	Q2 2004
Agree on Configurations	Q1 2005
Data Gathering Meeting	Q2 2005
Issue invitation to tender	Q3 2005
Selection of Supplier	Q2 2006
Construction & Maintenance Agreement Signature	Q3 2006/Q1 2007
Supply Contract Signature	9th March 2007
Construction & Maintenance Agreement Effectiveness	8th March 2008
Financial Closure	20th March 2008
Cable Construction Completion – System Ready for Commercial Service (RfCS)	Q2 2010

Capacity pricing - most competitive compared to other cable systems
       - Sustainable, Cost effective
       - Not loaded with profit margins – pricing is Affordable, Cost          Based
       - Most parties investing in cable not as a primary business, but to          reduce their operational costs

Data Gathering Meeting (DGM) held
       : Substantial investment interest shown by legible entities from          within and outside Africa
       : Investment interests adequate for funding of the cable          expressed

Investment Rules and Principles developed and integrated into the shareholders agreement (C&MA)
       : Minimum investment levels set for Landing Point Parties - can be          aggregated
       : Progressive Investment and Pricing Scheme - PIPS to attract          investment
       : PIPS does not disadvantage smaller investors

Procurement Process / Supply Contract
     : Tender Issued and Evaluation completed
      : Tenderer selected, contract negotiations almost completed         (minor outstanding issues)

Discussions with Developmental Financial Institutions on going in regard to funding and structure (e.g. World Bank/IFC, European Investment Bank) - aimed at
     : Ensuring full and timely financing by all promoters of the project
      : SPV created and registered : WIOCC (Western Indian Ocean         Cable Company)

Finalization of EASSy Construction and Maintenance Agreement (C&MA) document and signed by 23 Parties
     : Defines amongst other elements:
      - Co–ownership, Rights and         Obligations
      - Project Structure – a         commercially orientated vehicle /         Hybrid Structure : Consortium         and SPV.