ETM Elitel Telecom

RNS No 2975t
ETAM PLC
5th January 1998
   
                                   
  Not for release or distribution in or into the United States of America,
                         Canada, Australia or Japan
                                      
                Etam Developpement SCA ("Etam Developpement")
 Recommended final* cash offer (the "Offer") for Etam Public Limited Company
                                  ("Etam")

                Closure of the Share Alternative to the Offer

Etam Developpement announces the closure,  as of 3.00pm on 5 January 1998, of
the  Share  Alternative to the recommended final* cash offer for  Etam.   The
cash offer will remain open for acceptances until further notice.

Etam  shareholders who have not yet accepted the Offer should despatch  their
Form of Acceptance as soon as possible.

Enquiries

Schroders        -  Alan Jacobs                   0171 658 6000
                 -  Marc Vincent                  00 331 44 20 65 65
                                                  
Credit Agricole  -  Jean-Marie Soubrier           00 331 41 89 26 62
Indosuez
                 -  Nick Bryan                    0171 971 4313

*The  Offer is final and will not be increased, save in the event  of  a
competitive situation (as determined by the Panel) arising or otherwise  with
the consent of the Panel.

Schroders and Credit Agricole Indosuez, which are regulated in the UK by  The
Securities  and Futures Authority Limited, are acting for Etam  Developpement
and  no one else in connection with the Offer and will not be responsible  to
anyone  other than Etam Developpement for providing the protections  afforded
to customers of Schroders or Credit Agricole Indosuez or for providing advice
in relation to the Offer.

END

OFFNFKFSEDAPEFN

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