Investor Update

TalkTalk Group has today completed the disposals of its PXC and Consumer divisions to BT Group.

The transactions were effected by way of pre-pack administrations. The administrators of the relevant TalkTalk group companies are funded to ensure continuity of services and a smooth transition of the operating businesses to BT Group.

James Smith, TalkTalk Group chief executive, said: “The transactions announced today provide long-term strength, investment capacity and certainty for our two operating businesses. They also provide stability for colleagues, customers, suppliers and partners. We look forward to working with BT Group to deliver future success.”

A spokesperson for Ares Management added: “As a longstanding capital provider and partner to TalkTalk Group, Ares is supportive of today's transactions, which we believe provide stability to the business and secures continuity of service for Talk Talk's millions of customers, including critical service providers and vulnerable persons.”

ENDS

Andrea Jakes, Jonny Marston and Richard Fleming, Joint Administrators of TalkTalk Telecom Group Limited (in administration) and certain of its subsidiaries* (“TTGL”, the “Company”)

The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the company and without personal liability.

*subsidiaries include TalkTalk Communications Ltd, Virtual1 Ltd, Virtual1 Communications Ltd, TalkTalk Group Ltd, TalkTalk Telecom Ltd, TalkTalk Brands Limited and Origin Communications Ltd