Africa ONE President Named to Ex-Im Bank's Sub-Saharan Advisory Committee

WASHINGTON April 23, 2001 -- Africa ONE President, Patricia A. Bagnell has joined the sub-Saharan Africa Advisory Committee of the United States Export-Import Bank (The Ex-Im Bank). "I am delighted to be able to serve on this committee to assist the Ex-Im Bank in promoting US exports to Africa and boost the US-Africa economic relationship," said Ms. Bagnell, upon her appointment. The sub-Saharan Advisory Committee provides expert guidance to the Ex-Im board in developing policies that will further strengthen Ex-Im Bank support of US exports to Africa. Ms. Bagnell is one of ten members, drawn from senior corporate management of companies doing business in Africa, as well as Ambassadorial representatives from the African diplomatic corps.

At the first meeting of the 2001 Advisory Committee, Ms. Bagnell said she would encourage the Bank to consider the sale of US-supplied broadband capacity as an important American export to Africa that would open a huge telecommunications market to US companies. "Africa has the largest untapped telecommunications market in the world," she said, "I believe there is an enormous opportunity throughout the continent for American companies.

Africa ONE, a private company, will build, own and operate a 32,000 kilometer undersea fiber optic telecommunications cable system around the entire continent. With landing points in about two dozen coastal cities in Africa, the Middle East and Europe, this cable will, for the first time, link African nations to each other and to the rest of the world.

Ms. Bagnell has over twenty years of experience in the international telecommunications sector. She has long been committed to providing Africa with the broadband capacity it needs to take full advantage of the Internet and new telecommunications services.

To read the full text of Ms. Bagnell's presentation on African telecommunications, please visit our web site at www.africaone.com .