SOURCE: Digicel

Digicel

March 02, 2009 12:48 ET

Digicel Limited Announces Private Placement of Senior Notes

KINGSTON, JAMAICA--(Marketwire - March 2, 2009) - Digicel Limited today announced its intention to launch a private placement of US$435 million of senior notes due 2014. Digicel Limited is a Bermuda incorporated company owned by Mr. Denis O'Brien.

Approximately $260 million of the proceeds of the offering will be used to acquire an equity interest in Digicel Limited's sister company, Digicel Holdings (Central America) Limited (DHCAL), with the balance retained by Digicel Limited for general corporate purposes. DHCAL successfully launched operations in Honduras and Panama in November and December 2008, respectively.

The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

ABOUT DIGICEL

Since its launch in 2001, Digicel has become the largest wireless telecommunications operator in the Caribbean with more than six million customers. After seven years, Digicel is renowned for competitive rates, unbeatable coverage, superior customer care, a wide variety of products and services and state-of-the-art handsets. By offering innovative wireless services and community support, Digicel has become a leading brand in the Caribbean and has placed the region at the cutting-edge of wireless communications -- the company is also a new entrant to the Central American market.

Digicel is incorporated in Bermuda and now has operations in 31 markets world-wide. Its Caribbean and Central American markets comprise Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, British Virgin Islands, Curacao, the Cayman Islands, Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica, Martinique, Panama, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad & Tobago and Turks & Caicos. The Caribbean company also has coverage in St. Martin and St. Barths. Digicel Pacific comprises Fiji, Papua New Guinea, Samoa, Tonga and Vanuatu.

Digicel is the lead sponsor of Caribbean sports teams including the West Indies Cricket Team and Special Olympics teams and is title sponsor of the Digicel Caribbean Football Union Cup and the Copa De Naciones, the Caribbean and Central American qualifiers to the CONCACAF Gold Cup.

Visit www.digicelgroup.com for more information on Digicel.

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