NEW YORK | DUBLIN | November 21, 2011 – Sea Fibre Networks Limited, trading as CeltixConnect, which is developing Europe’s most advanced sub-sea telecommunications network, recently completed a $15 million two-tranche financing with Investec Project and Infrastructure Finance and with CC Equity LLC.

Investec Project and Infrastructure Finance, (“Investec”), part of Investec Bank plc. recently completed a new senior debt facility for Sea Fibre Networks Ltd. The $7.5 million loan, for which Investec was the sole mandated lead arranger (MLA), will finance Europe’s most advanced sub-sea telecommunications network in a project which will link Ireland and the UK by fibre-optic cable.

Additional equity was provided by CC Equity LLC (“CC Equity”), a US-based private equity investment group which has extensive investment and operating expertise in the communications sector.

Running between Anglesey, Wales and Dublin, Ireland, the sub-sea cable will be the first laid within Europe in eleven years. The new cable will more than double the total existing capacity between Ireland and the UK, and reduce the length of the existing sub-sea cables by over 100 kilometres, increasing data speed.

Torsten Thiele, Head of Telecoms Project Finance, Investec said, “We are delighted to have been able to provide this debt facility to Sea Fibre Networks in this pure project finance telecoms deal. In arranging financing, we brought our experience from other sub-sea telecoms deals that we have worked on, including in Africa.”

Stephen Martin, Managing Partner of CC Equity said, “We are very pleased to bring our equity capital and our communications industry experience to support the successful growth and development of Sea Fibre Networks. We also appreciated the role Redwood Capital played as investment banking advisor to the company to help ensure that the two-tranche financing was successfully completed.”

Diane Hodnett, Chief Executive Officer, Sea Fibre Networks comments, “Having Investec and CC Equity as partners in this $15 million funding round has been instrumental in our ability to commission the first European sub-sea cable laid in eleven years. This balanced combination of debt and equity provides a stable foundation for the company and the expertise from our funding partners will support the execution of this cable and our future plans for transforming subsea networks.”

Redwood Capital acted as financial advisor to Sea Fibre Networks Ltd. (trading as CeltixConnect) in connection with the $15 million debt and equity financing.

About Investec

Investec Capital Markets is a division of Investec Bank plc. Investec Bank plc is authorised and regulated by the Financial Services Authority. Investec Project & Infrastructure Finance arranges, structures and underwrites and advises on project and acquisition financing across the capital structure in the public and private sector. Investec specialises in PFI and PPP as well as the power and telecoms sectors globally working out of offices in the UK, South Africa, Australia and North America.

For more information, please visit www.investec.co.uk/projectfinance.

Investec is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia as well as certain other countries. The group was established in 1974 and currently has approximately 7,000 permanent employees.

About CC Equity

CC Equity is a US-based private equity investment group which has extensive investment and operating expertise in the communications sector. CC Equity provides private equity capital to communications companies across the United States and Europe.

About Sea Fibre Networks

CeltixConnect is owned and operated by Sea Fibre Networks Limited, a privately held Irish Company, founded by an experienced team of executives with a track record of owning and operating sub-sea and terrestrial telecoms networks. CeltixConnect's unique business model offers the opportunity to lease or buy dedicated sub-sea dark fibre or lease dedicated high capacity managed services. All CeltixConnect products will be supported by industry leading Service Level Agreements (SLAs) and a programme of active management of the sub-sea cable.

For more information, please visit www.celtixconnect.com.