FIJI TV ACQUIRES COMMUNICATIONS PACIFIC

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SUVA, Fiji (Fiji Times, Oct. 5) - Fiji Television Ltd. has acquired 100 percent of shares in Communications Pacific Ltd (Compac) from Fijian Holdings Ltd.

Compac's core business is in sales and services of radio, television and communications products, with transmission towers located around the country.

Fiji TV's chief executive officer, Mesake Nawari, said acquiring the business fits well with Fiji TV's vision of being the best communications business for Pacific communities.

"Compac is valuable to a communications company like Fiji TV," Nawari said. "It will enhance our current operations by opening up more opportunities in the broadcast communications business. The plan is for Compac to focus on offering broadcast engineering and related services in Fiji and the Pacific region."

FHL's chief executive officer, Jaoji Koroi, said FHL acquired Compac in 2000 as a strategic investment into the information and communications technology sector.

"The decision to divest Compac now is based on a strategic review of its operations and financial results over the last five years and FHL's current investment position in the ICT sector," said Koroi.

October 6, 2006

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