1、Annual report and Form 20-FBritish Telecommunications plc is a public limited company registered in England,which has listings on the London,New York and Tokyo stock exchanges.This is the annual report for the year ended 31 March 2000.It complies with UK regulations and is the annual reporton Form 2
2、0-F for the Securities and Exchange Commission to meet US regulations.This annual report has been sent only to shareholders who have elected to receive a copy.A separate annual reviewand summary financial statement for the year ended 31 March 2000 has been issued to all shareholders.BThas set itself
3、 an ambitious vision:to be the most successful worldwidecommunications group.To achieve this,we intend to build shareholdervalue by:Iseizing the many opportunities open to us in the global marketIbuilding our current business,focusing on high-growth areasIoperating to the highest standards of integr
4、ityIfulfilling our responsibilities to the communities in which we operate.We aim to do this by:Imoving rapidly to enable our customers to make the most of the unprecedentedopportunities which arise as communications technologies converge and the markets inwhich we operate are transformedIreshaping
5、the company so that an increasing proportion of our revenues comes fromnew-wave activities internet,multimedia,mobility,data and solutionsIexpanding our current interests in growth markets around the worldIcontinuing to work with local partners outside the UK,and increasing our equityinvestments as
6、opportunities ariseIdeveloping and growing our business in the UK,with a new organisational structure thatshould enable greater management focusIstructuring the group to allow separate listings of parts of the business when this is judgedto be in our shareholders best long-term interests.02 Annual r