RNS Number:0167D
EuroTelecom Communications Inc
2 May 2001


               EuroTelecom Communications, Inc (the "Company")

                     Re: Special Investigative Committee


The Company announces that at a meeting of the Board of Directors of the
Company held today, Wednesday 2nd May 2001, it was agreed that the Board would
appoint a Special Investigative Committee to investigate the reasons
surrounding the collapse of the Company's operations and to investigate
officers, directors and advisers of the Company who may have breached duties
owed to the Company.

The Committee shall be constituted by Christopher Akers and Graham Ford with
Christopher Akers also acting as Chairman.


2 May 2001
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