BT Adopts IFRS for Financials

European companies continue to perform:

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BT Group plc (‘BT’) will be adopting International Financial Reporting Standards (IFRS) as the basis of accounting for the year ending 31 March 2006. As part of the transition to IFRS, BT is presenting today its latest view of the pro-forma financial effect of adopting IFRS for the year ended 31 March 2004.

BT will continue to report under UK Generally Accepted Accounting Principles (UK GAAP) for the year ended 31 March 2005 and will subsequently present financial information in accordance with IFRS.

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