Euro Bond Issue

British Telecommunications PLC
22 January 2001





22 January, 2001

  BT CONFIRMS SUCCESSFUL COMPLETION OF E9.7 BILLION EQUIVILANT MULTI-TRANCHE
                                  BOND ISSUE

BT today confirmed that it had successfully offered a total of E9.7 billion
equivalent in six tranches of euro and Sterling-denominated bonds with the
following terms:

Size         Notes          Maturity       Coupon          Issue/reoffer price

Euro 1bn     Floating rate  February 2003  Euribor + 62.5         99.667
Euro 1.75bn  Fixed rate     February 2004      5.625%             99.764
Euro 3bn     Fixed rate     February 2006      6.125%             99.736
Euro 2.25bn  Fixed rate     February 2011      6.875%             99.367
£400m        Fixed rate     December 2006      7.125%             99.363
£700m        Fixed rate     December 2016       7.5%              99.113



The proceeds from the offering will be used to reduce short term borrowings.

The issue was lead-managed by Barclays Capital, Deutsche Bank and HSBC,
following an extensive roadshow in Europe which covered 8 European countries.
Over the past 2 months BT has raised approximately E20 equivalent from the
debt capital markets.

British Telecommunications plc is one of the world's leading global provider
of communications services. The company's main activities include the
provision of fixed line services, mobile telephony, internet services and
international directories services.


                                    -ends-




Copies of the prospectus are available from BT:



John Brougham

BT Centre

81 Newgate Street

London EC1A 7AJ

Telephone:     + 44 20 7356 4909

Facsimile:      + 44 20 7356 6375


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