Sasktel Furthers Investment in Navigata

Sasktel Furthers Investment in Navigata

March 15, 2004 - SaskTel today announced it will invest up to $9 million, with a contingency of $6 million, in Navigata, its wholly owned subsidiary, to fund Navigata’s capital requirements and allow the company to continue to grow in the face of intense competition and rapid change within the telecommunications industry. “Navigata is core to SaskTel’s business and is a strategic component in SaskTel’s overall business plan,” said Dan Baldwin, Senior Vice-President, Business Development. “Navigata allows SaskTel to geographically expand its core telecommunications market and serve its Saskatchewan based business customers with locations in other provinces.” Navigata provides a full range of products including data networking, high-speed Internet, hosting services, data center co-location, managed security solutions, long distance and local phone services to customers located in British Columbia, Alberta, Ontario, and Quebec. “Navigata has seen significant revenue growth during 2003, and it is anticipated that it will be net income positive in 2004,” said Baldwin. “In addition, due to the synergies that have been achieved with Navigata, there has been about $10 million in cost savings to SaskTel.

About Navigata Communications Ltd

Navigata offers a full range of communications products, including data networking, high-speed Internet, hosting services, data center co-location, managed security solutions, long distance and local phone services. The company has offices in British Columbia, Alberta, Ontario and Quebec. Navigata is a member of the SaskTel group of companies, the leading full service communications provider in Saskatchewan.

About SaskTel

SaskTel is the leading full service communications company in Saskatchewan, offering complete wireline, wireless, Internet and e-business solutions over a state-of-the-art, digital network. SaskTel maintains investments in companies that provide a variety of products and services. Visit SaskTel at www.sasktel.com