CABLE & WIRELESS COMMUNICATIONS PLC

("CWC" or the "Group" or the "Company")

19 December 2014

PUBLICATION OF PROSPECTUS

CWC announced on 6 November 2014 that it had agreed terms to purchase 100 per cent. of the equity of Columbus International Inc, a leading privately-owned fibre-based telecommunications and technology services provider operating in the Caribbean, Central America and the Andean region, for USD1.85bn (the "Acquisition").

A prospectus in connection with the Acquisition (the "Prospectus") has today been made available at www.cwc.com.

The Prospectus relates to the admission to the premium listing segment of the Official List and to trading on the London Stock Exchange of 1,557,529,605 Consideration Shares of USD 0.05 in CWC. The Consideration Shares will be issued and allotted to the Principal Vendors on completion of the Acquisition.

The Prospectus has been approved by the UK Listing Authority. A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

Capitalised terms used in this announcement have the meanings given to them in the Prospectus.

This announcement is for information purposes only and not a prospectus. Investors should not subscribe for or purchase any securities referred to in this announcement. This announcement does not constitute an invitation or offer to sell or exchange or the solicitation of an invitation or offer to buy or exchange any securities. None of the securities referred to in this announcement shall be sold, issued, exchanged or transferred in any jurisdiction in contravention of applicable law.

Overseas shareholders may be affected by the laws of other jurisdictions in relation to the publication of the Prospectus or the distribution of this announcement. Persons into whose possession this announcement comes should inform themselves about and observe any applicable restrictions and legal, exchange control or regulatory requirements in relation to the publication of the Prospectus or the distribution of this announcement. Any failure to comply with such restrictions or requirements may constitute  a violation of the securities laws of any such jurisdiction.

This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States or any other jurisdiction where such release, publication or distribution would be unlawful. This announcement does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction where such offer or sale would be unlawful.  The securities of CWC, including the Consideration Shares, have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered, sold, resold or otherwise transferred, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Security Act and in compliance with any applicable securities law of any state or other jurisdiction of the United States.  There will be no public offer of the Consideration Shares in the United States.

For further information please contact:

Cable & Wireless Communications Plc

Kunal Patel                            +44 (0) 20 7315 4083
Mike Gittins                            +44 (0) 20 7315 4184

Evercore (Sponsor)

Bernard Taylor                       +44 (0) 20 7653 6000
Julian Oakley                         +44 (0) 20 7653 6000