re: Penny dreadful soon?, page-4

re: Penny dreadful soon? Dear Laurra,

'tis my problem - I only have half a brain.

Anyway:

ADVANTAGE TELECOMMUNICATIONS LIMITED 2002-10-07 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Q1 REVENUES

Advantage Telecommunications Limited (AdvanTel) (ASX: ATC) today
announced Q1 revenue for the first quarter of US$2.3m. Q1 revenues
were up approximately 70% on the previous quarter, exceeding annual
revenues for the previous financial year by approximately 12%.

Mark Stewart, Chief Executive Officer, AdvanTel said, "We are
delighted to post another quarter of strong revenue growth despite a
rare undersea earthquake that effected many international telecoms
networks in the Asia region during late August and deferred some
increase in revenue to the next Quarter".

He continued, "Quarter 2 will see continued strong revenue growth as
the value of the new customer connections deliver increasingly large
traffic volumes onto the AdvanTel network. AdvanTel expects to become
EBITDA positive during this Quarter 2".

QUARTER 1 CUSTOMER UPTAKE AND CONNECTIONS

AdvanTel signed up an additional 23 customers taking the company
order book to a total of 78 customers.

Mark Stewart said, "AdvanTel is witnessing increasingly strong growth
in order uptake as awareness of the Company's Eurasian proposition
spreads. We are inundated with interested potential customers but we
are only contracting those customers that fit our credit criteria and
present real value to our business. We will not allow customer demand
to compromise this approach".

AdvanTels revenues were achieved with an associated bad debt to
revenue ratio of just 0.11% for the last 12 months.

AdvanTel also significantly reduced its order back log connecting an
additional 34 new customers taking the total of customer connections
to 62. Many connections were made at the latter part of the quarter
following the successful commissioning of AdvanTel's new London
switch in August. The full revenue value of these connections should
be realized in Quarter 2. Revenue for the last day in September was
US$44,000.

FNT UPDATE

The company will be pleased to advise shareholders on the progress of
the FNT transaction shortly.

Notes to Editors:

For further information please contact:

Mark Stewart
CHIEF EXECUTIVE OFFICER
Advantage Telecommunications Limited
[email protected]
0011 44 207 464 4430