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Nava and Fujitsu Begin marine and terrestrial surveys

Fujitsu Australia Limited

Sydney, September 17, 2001

Nava Networks and Fujitsu Australia announced today that they had begun both the marine and terrestrial surveys for the 9,000km Nava-1, high capacity network.

The marine survey covers the shallow waters of the South China Sea and Java Sea between Singapore and Jakarta, then through the Sunda Straits and on into the deep waters of the Indian Ocean for the link to Perth. The terrestrial survey will further refine the route initially identified in the desktop study and determine the final alignment of the route between Perth, Adelaide and Melbourne.

Nava Networks' Director of Networks, Mr Brett Worrall, said that he was pleased the marine and terrestrial surveys were underway. "Beginning final surveys in a cable system project is always an important milestone. Nava-1 is making significant progress in a difficult environment for new projects of this type," he said.

Mr Worrall said that the surveys were an essential stage in the system development to ensure that the final route selected offered the Nava-1 infrastructure the best possible protection.

"Nava and Fujitsu are employing the most advanced survey techniques, to ensure the protection afforded to the system through burial and cable selection is carefully planned, such that during subsequent installation, maximum security is ensured along the systems entire length, especially in waters where human activity is a risk."

Fujitsu Australia's Executive Director of Telecommunications, Mr John Kranenburg, said that Nava-1 was the largest single project that Fujitsu Australia has undertaken.

"This project is significant due to the current downturn in the telecommunications industry and will generate significant employment and additional contract positions throughout remote and regional Australia," he said.

"The start of the surveys and the final route selection mark the beginning of the terrestrial project for the Fujitsu Australia team. Having now received Nava's authorisation to proceed, we are confident that we can bring the project to the expected RFS date of Q1 2003," Mr Kranenburg added.

Mr Worrall indicated that this work tracked the progress made by Nava toward concluding its financial and equity arrangements.

"The rate of progress has been significant and we look forward to announcing details of these arrangements over the next few weeks," he said.

About Nava Networks

Nava Networks was formed to develop and operate Nava-1, a submarine and terrestrial broadband fibre optic network that will connect the major cities in Australia to South East Asia. Nava-1 will provide state-of-the-art broadband inter-city services to carriers and service providers. Nava Networks is a wholesale carrier's carrier, providing its customers with flexible service offerings from STM-1s through to 10 gigabit optical wavelengths. The Nava-1 network will provide telecommunications companies, ISPs, B2B e-commerce providers, Web broadcasters and other bandwidth users with the capacity to meet their future needs. Nava Networks offers the benefits of speed to market, cost-effectiveness and flexibility to respond to individual customer needs. All members of the company's management team have expertise and credibility developed through their extensive experience in the telecommunications industry. Nava Networks' major shareholder is Dolphin Networks.

About Dolphin Networks

Dolphin Networks Ltd. (DN) is a Bermuda-based international developer of fibre optic networks. DN creates value by identifying, developing and executing broadband fibre network and related business plans of all kinds (last mile, metro, long haul, terrestrial, submarine). DN executes these investment opportunities through its expertise in network planning, sales and marketing, development and finance. The founding management team is comprised of industry professionals with long and proven track records in the field of international telecommunications, international project development, project finance and network operations. DN's strategy is to build regional and sub-regional routes around the world, which are underserved but can demonstrate strong demand for bandwidth. DN works with entrepreneurs to develop their business plans to the point where they attract financing by providing early stage capital and management expertise. In addition, DN works with large established carriers as a development partner, implementing development and financing activities, allowing these companies to access low cost broadband capacity while conserving scarce capital and human resources for more central parts of their business plan.

About Dolphin Communications Partners

Dolphin Communications Partners, L.P., a private investment fund located in New York City, specialises in leading private equity investments in fast growing, private communication companies, which take advantage of the globalisation, deregulation, or technological advances in the telecommunications industry. Dolphin manages the Dolphin Communications Fund, L.P. and the Dolphin Parallel Fund, L.P. Dolphin's principals are experienced private equity investors who have focused on the communications industry throughout their careers. They have substantial knowledge of a wide range of communications services sectors, including telephony, Internet, satellite, wireless, broadcasting, cable television and media content. In addition, Dolphin's industry and investment experience, coupled with its relationships with industry executives, co-investors and investment and commercial bankers, help it to provide financial and strategic advice to its portfolio companies.

Dolphin's principals have invested $US300 million to finance 40 communications companies generating realised and unrealised returns of over $US700 million, a 58% IRR. They have also led investment groups in the creation of five public companies. Dolphin Communications recently completed the initial closing on its second fund, a $US500 million telecommunications equity fund. Additionally, the portfolio companies have raised over $US6 billion in capital while the principals were involved with the companies, including privately placed equity, public equity, high yield debt and bank debt. Dolphin's current portfolio investments include: Epoch Networks, Pangea, Terago, Wired Business, Velocom, CAVU, Norigen Communications Group, Inter Digital Networks, Giganet and Western Integrated Networks. Dolphin acted as lead investor for Pangea's successful development of a northern European combined terrestrial and undersea fibre optic network.
For more information, please see: www.dolphinfund.com

About Fujitsu Australia Limited

Fujitsu is one of the world's leading e-services organisations. Fujitsu technology solutions, from servers to e-Business applications, are powering the new Internet economy. In Australia and New Zealand Fujitsu is helping corporate and government customers to design, build and operate solutions which offer competitive advantage in the Internet world, from state-of-the-art infrastructure through to complex e-Business solutions. Our portfolio of IT services includes consulting, systems integration, prime contracting and a full range of professional services. Fujitsu Australia Limited is a wholly owned subsidiary of Fujitsu Limited of Japan.
For more information, please see: www.fujitsu.com.au

About Fujitsu Limited

Fujitsu is a leading provider of Internet-focused information technology solutions for the global marketplace. Its pace-setting technologies, best-in-class computing and telecommunications platforms, and worldwide corps of systems and services experts make it uniquely positioned to unleash the infinite possibilities of the Internet to help its customers succeed. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5.48 trillion yen for the fiscal year ended March 31, 2001.
For more information, please see: www.fujitsu.com

Gillian Lamrock

Phone: Phone: (02) 9776 4799
E-mail: E-mail: gillian.lamrock@fujitsu.com.au
Company:Fujitsu Australia Limited

Date: 17 September, 2001
City: Sydney
Company: Fujitsu Australia Limited