TOKYO, JAPAN – NTT Communications Corporation (NTT Com) announced today that the company has executed the sale of 635,076,318 shares of Sri Lanka Telecom PLC (SLT) common stock to Global Telecommunications Holdings N.V. (GTH), a wholly-owned subsidiary of Usaha Tegas Sdn Bhd (UT), a Malaysia-based investment holding company. The transaction, executed today, is valued at 299 million US dollars(29.8 billion yen*)]. The shares represent approximately 35.19% of SLT's total outstanding common stock. As a result of the sale, NTT Com no longer retains any SLT common stock, and will post a special profit of approximately 3.3 billion yen from the sale of the SLT stake.

*US$1 = 99.84 yen (As of April 1, 2008)

Please see the attachment for details about SLT, UT, and GTH.

About NTT Communications
NTT Communications Corporation (NTT Com) provides information and communications technology (ICT) solutions worldwide with dedicated professionals stationed in 21 countries. Renowned as an IPv6 technology pioneer and managed service expert, NTT Com offers diverse high-quality IP, Web-based, and managed network solutions combining network management, security, ubiquitous, Web portals/engines, and global services. Its world-class Tier 1 Internet backbone and secure closed networks with over 98,000 MPLS ports, combined with the networks of partner companies around the world, connect more than 200 countries. The company earned non-consolidated revenues exceeding one trillion yen (about US$10 billion) in fiscal 2006 ended March 31, 2007. NTT Com started as a long-distance phone company in 1999 after the reorganization of the NTT Group, and is the wholly-owned subsidiary of NTT, one of the world's largest telecommunications companies. NTT is listed on the Japan, London and New York stock exchanges. Please visit www.ntt.com.