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    Second Decision

Price Cap Plan 2008

The Fair Trading Commission has issued its Decision on the new Price Cap Plan 2008 (PCP2008) which will govern how the rates for the regulated telecommunications services of Cable & Wireless (Barbados) Limited will be determined.  This Decision will take effect from August 1, 2008 to March 31, 2012.

The Commission has made several determinations including that for Residential Access where there will be a rate freeze from August 1, 2008 until December 31, 2009. This means that prices for residential line rental will continue to be billed at the August 2007 rate. From January 1, 2010 the Company will be allowed once in any twelve month period to adjust rates in line with inflation up to a maximum of 4.5%.

Residential International Direct Dialing (IDD) and other International telephone services will not be subject to the price cap index.  However the Company will not be allowed to increase prices for these services beyond their levels at October 22, 2007

Copies of the Second Decision and the accompanying Compliance Rules which provide full details of the Price Cap Plan 2008 may be obtained from the office of the Fair Trading Commission, Good Hope, Green Hill, St. Michael between the hours of 9:00 a.m. and 4:00 p.m. Mondays through Fridays. The Decision and Rules can also be obtained from the Commission’s website at http://www.ftc.gov.bb.

Dated this 25th day of June, 2008

Peggy Griffith

Chief Executive Officer

Fair Trading Commission

Telephone: 424-0260

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