Eircom

ERC IRELAND FINANCE LIMITED

This press release includes forward-looking statements.  These forward-looking statements include statements regarding the intentions, beliefs or current expectations of ERC Ireland Finance Limited and its subsidiaries, including ERC Ireland Holdings Limited and eircom Limited (together “eircom”, which term may also refer to only specific members of the group where the context so permits) concerning , among other things, eircom’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which eircom operates, or matters that are not historical facts.  By their nature, forward-looking statements involve risks and uncertainties, including, without limitation, the risks and uncertainties set forth in eircom’s other periodic reports, because they relate to events and depend on circumstances that may or may not occur in the future. eircom cautions you that forward-looking statements are not guarantees of future performance and that the actual results of operations, financial condition and liquidity and the development of the industry in which eircom operates may differ materially from those made in or suggested by the forward-looking statements contained in this release.  In addition, even if eircom’s results of operations, financial condition and liquidity and the development of the industry in which eircom operates are consistent with the forward-looking statements contained in this release, those results or developments may not be indicative of results or developments in future periods.  eircom does not assume any obligation to review or confirm analyst expectations or estimates. Additionally, eircom does not assume any obligation to comment on, update or revise the statements included herein or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this release. eircom does not (by issuing this press release or otherwise) assume any obligation to issue any further or other press releases, announcements or trading updates at any future time whether relating to matters referred to in this press release or otherwise.

The Senior Notes have not been registered under US Securities Act of 1933, as amended (the “US Securities Act”), or any state securities laws, and were offered and sold only outside the United States pursuant to Regulation S under the US Securities Act and to “qualified institutional buyers” in the United States in reliance on Rule 144A under the US Securities Act.

Statement for Public Release

ERC Ireland Finance received notice yesterday that ERC Ireland Holdings Limited’s senior lenders have exercised their rights to suspend payments by ERC Ireland Holdings and its subsidiaries of amounts that fund FRN coupon payments, including the payment scheduled for 15 February 2012.

The payment suspension does not impact on the continued operation of the Group’s business. All eircom and Meteor services and payments to suppliers continue as normal.

The eircom Group continues to work closely with its senior lenders on the balance sheet remediation process to provide a sustainable capital structure for the Group.