TNW Teleset Net

RNS Number:2105T
Teleset Networks PLC
19 March 2007

Press Announcement


FOR IMMEDIATE RELEASE                                              19 March 2007



                              Teleset Networks PLC
                          ("Teleset" or "the Company")

              US$10 million (c. #5.2 million) new equity placing

Teleset, a leading alternative fixed-line telecom network operator in Kazan,
Republic of Tatarstan, Russia, announces  that Templeton Strategic Emerging
Markets Fund II ("TSEMF"), which is managed by Templeton Asset Management Ltd 
("TAML"), has been issued 24,390,244 new Teleset ordinary shares via a placing,
at a price of US$0.41 (approximately 21  pence) each, to raise a total of US$10
million before expenses.

The proceeds of the placing will be used to accelerate implementation of the
Company's strategy to grow both  organically and through acquisition.

Yiannis Demetriou, Chief Executive Officer of Teleset, said:

"We are delighted to welcome a blue-chip investor like TSEMF as a Teleset
shareholder.  The investment TSEMF has made  in the company is a vote of
confidence in the excellent prospects of the Russian telecom market and our
strategy for  future growth."

Mark Mobius, Executive Chairman of TAML, said:

"Teleset is a leading player in an attractive regional telecom market. Its
strong management team gives it a significant competitive edge over its peers
and we believe the company is well positioned to take advantage of the regional
growth opportunities including broadband services."

The placing follows the passing of the resolutions at an Extraordinary General
Meeting of shareholders on 6 March 2006,  for the disapplication of pre-emption
rights to allow the issue of up to 30 million new ordinary shares.

Following the placing, arranged by Metropol (UK) Limited, TSEMF holds 19.19 per
cent of Teleset's enlarged issued share  capital.

The new shares will be admitted to trading on AIM on Friday, 23 March 2007.






CONTACT

Teleset Networks                                                 +357 22 450 790
Yiannis Demetriou

Templeton Strategic Emerging Markets Fund
Mark Mobius                                                        +65 6241 0777
Yuri Mashintsev                                                  +7 495 935 7060

Corporate Synergy (Nomad)                                       +44 20 7448 4400
Shane Gallwey / Rhod Cruwys
                                                                           
Metropol (UK) Limited (Company broker)                          +44 20 7439 6880
Alexander Selegenev                                                                      

Bankside Consultants (Financial PR adviser)                     +44 20 7367 8888                  
Simon Bloomfield 


About Teleset


Teleset is the leading alternative fixed-line telecom operator in Kazan, the
capital of the Republic of Tatarstan, Russian Federation, where the business has
been operating since 1996. Teleset owns an all-digital local network with
current switching capacity of 130,000 lines. Its recent US$17 million
acquisition of TNPKO improved its coverage of Kazan and increased its market
share in Kazan to 27 per cent for voice traffic and 29 per cent of data traffic.


The Company's strategy is to become Kazan's leading telecom operator and to
expand into other cities in Tatarstan and elsewhere in the Russian Federation,
both organically and through carefully selected acquisitions.


About TSEMF & TAML


TSEMF is a Limited Duration Company incorporated in the Cayman Islands and
available only to institutions and sophisticated investors. TSEMF makes
strategic investments throughout emerging markets.


TSEMF is managed by Templeton Asset Management Ltd ("TAML"), which has 12
offices located throughout the global emerging markets. TAML's offices in
Central and Eastern Europe include Moscow, Warsaw, Istanbul and Vienna. TAML's
emerging markets investment team is headed by Dr. J. Mark Mobius, who has over
30 years of emerging markets investment experience. His team manages over
US$33.0 billion in assets as of 31 January 2007. TAML is a subsidiary of New
York Stock Exchange listed Franklin Resources, Inc. (NYSE: BEN), a global
investment management organization operating as Franklin Templeton Investments.
Franklin Templeton Investments provides global and domestic investment
management solutions managed by its Franklin, Templeton, Mutual Series and
Fiduciary Trust management teams. The San Mateo, California-based company has 60
years of investment experience and approximately US$561 billion in assets under
management as of 31 January 2007.

END



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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