CALL NET ENTERPRISES (T-CN.B $11.25)Big upside potential Message Board

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Gold/Mining/Energy : CALL NET ENTERPRISES (T-CN.B $11.25)Big upside potential

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To: Grislee bear who wrote (640)	4/4/2002 9:28:03 AM
From: Dan Hamilton	Read Replies (1) of 652

It is approved... Attention Business Editors: Call-Net announces results of Noteholder and Shareholder votes TORONTO, April 3 /CNW/ - Call-Net Enterprises Inc. (TSE: CN, CN.B) announced that, at meetings held this morning, its Noteholders and Shareholders overwhelmingly approved a proposed plan of arrangement under the Canada Business Corporations Act providing for a comprehensive recapitalization of Call-Net that will reduce the company's debt by more than $2 billion. At the Noteholders' Meeting in excess of 97% of the votes cast supported the proposed plan of arrangement. Subsequently, at the Shareholders' Meeting more than 96% of the votes cast supported the proposed plan of arrangement. Implementation of the plan of arrangement is subject to the Company receiving a final order from the Ontario Superior Court of Justice under the Canada Business Corporations Act. The Court is scheduled to hear the application for the final order on April 5, 2002. Subject to obtaining the final order from the court, the transaction is expected to close on April 10, 2002. "We are very encouraged by the strong support our recapitalization proposal received from securityholders this morning," said Bill Linton, President and Chief Executive Officer of Call-Net Enterprises. "We believe this support is a very important step in obtaining the Court's approval on Friday to proceed with the completion of the plan of arrangement on April 10." About Call-Net Enterprises Inc. Call-Net Enterprises Inc. is a leading Canadian integrated communications solutions provider of local and long distance voice services as well as data, networking solutions and online services to businesses and households primarily through its wholly-owned subsidiary Sprint Canada Inc. Call-Net, headquartered in Toronto, owns and operates an extensive national fibre network and has over 100 co-locations in nine Canadian metropolitan markets. For more information, visit the Company's web sites at www.callnet.ca and www.sprint.ca.

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