Maiden Earnings Positive Month

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    SWIFTEL LIMITED 2002-05-20 ASX-SIGNAL-G

    HOMEX - Perth

    _______________________________________________

    The board of Swiftel Limited is pleased to announce that it has
    recorded three consecutive months of record sales and the company
    achieved it's maiden positive Earnings before Interest, Tax,
    Depreciation and Amortisation (EBITDA) for the month of April 2002.

    The result follows increases in the signing upof corporate clients.
    A total of 82 customers have been signed utilising Swiftel's
    products and services on the Perth CBD ring.

    The four months to 30 April 2002 saw Swiftel's sales grow
    significantly with total contracts signed to date exceeding $3.9
    million.

    This result means that the Company became EBITDA positive within the
    first 15 months of the Swiftel Network being commissioned.

    Swiftel is currently deploying their Points of Presence (PoP) with
    Connect (a subsidiary of AAPT) to provide links connecting Perth,
    Sydney, Melbourne and Brisbane, and will offer new services such as
    Virtual Private Networks and Data Storage to its existing customer
    base and corporate business in the Eastern States.

    Swiftel CEO, Chris Gale, said "now that we have proved our business
    model to be commercially sound, we are committed to continued sales
    growth and achieving sustainable income by further increasing our
    client base and product offering".

    C Gale
    CHIEF EXECUTIVE OFFICER

 
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