PRESS RELEASES

Ovum acquires RHK Research

For immediate release, Monday, 20 June 2005: Ovum, the global analyst and consulting company, announces the acquisition of RHK Research from Ryan Hankin Kent. This acquisition is a continuation of Ovum's global growth strategy.

The acquisition of RHK Research enables the newly formed Ovum-RHK to provide its clients with a unique end-to-end view of the telecoms market. Ovum's focus on telecoms services markets and service providers is now complemented by RHK's expertise in telecoms equipment & components markets and telecoms vendors.

Service providers make up the majority of Ovum's telecoms customers. This extensive involvement with service providers will offer RHK's vendor clients a deeper understanding of service providers' strategies, needs and intentions.

Ovum will also use its expertise of the wireless market and its close relationships with mobile operators to develop new RHK advisory services focused on wireless equipment markets.

Ovum's capabilities in Europe and South-East Asia will complement RHK's strong presence in the North American and Japanese markets, providing global customers with a broader geographical expertise and more comprehensive worldwide support.

Chris Dines, CEO of Ovum, further explains the reason behind the move to acquire RHK Research:

"We are delighted to announce Ovum's acquisition of RHK Research. There is an excellent fit between Ovum and RHK in terms of brand qualities, expertise, customer base and company values. RHK analysts will work with their Ovum colleagues to strengthen our offerings and our services for our clients, across a broader range of areas. We are excited about the possibilities that this merger creates," he says.

John Soden, CEO of Ryan Hankin Kent, offers his perspective:

"Ovum is an ideal partner for RHK's Research business. Ovum provides both greater scale as well as wider breadth of geographic and topic coverage and expertise to the traditionally strong RHK analyst team. All of the senior RHK analysts are joining Ovum so high-quality service continuity is assured for clients. All existing RHK Research contracts will be honored by Ovum. The consulting part of Ryan Hankin Kent's business is not being acquired by Ovum but will continue to operate as 10th Street Advisors," he says.

Clients of Ovum and RHK will benefit from this acquisition in terms of a greater choice of information, advice and deliverables.

For more information contact:

Fash Darabi

Managing Director, Ovum Telecoms

Tel: +44 20 7551 9267

Email: fash.darabi@ovum.com

Brett Azuma

Executive Vice President

Tel: +1 617 722 4680

Email: brett.azuma@ovum.com

John Soden

CEO, Ryan Hankin Kent