British Telecommunications in $750 Million Offering

May 1, 2008

Cleary Gottlieb served as underwriters’ counsel for British Telecommunications plc’s offering under its shelf registration statement of $250 million, 5.15% Senior Notes due 2013 and $500 million, 5.95% Senior Notes due 2018. The offering was a reopening of two tranches of senior notes BT had previously issued on Dec. 12, 2007. The Joint Lead Managers for the offering were Barclays Capital, Citi, Deutsche Bank Securities, HSBC and RBS Greenwich Capital.