1、Annual Reportand Form 20-F2002BT Group Annual Report and Form 20-F 20021BT is one of Europes leading providers of telecommunicationsservices.Its principal activities include local,national andinternational telecommunications services,higher-valuebroadband and internet products and services,and ITsol
2、utions.In the UK,BT serves over 21 million corporate andresidential customers with more than 28 million exchange lines,as well as providing network services to other licensed operators.BT Group plc is a public limited company registered in England and Wales,with listings on the London and New York s
3、tock exchanges.This is the annual report for the year ended 31 March 2002.It complies with UK regulations and is the annual report on Form 20-Ffor the Securities and Exchange Commission to meet US regulations.This annual report has been sent to shareholders who have elected to receive a copy.A separ
4、ate annual review and summaryfinancial statement for the year ended 31 March 2002 has been issued to all shareholders.In this annual report,references to“BT Group”,“BT”,“the group”,“the company”,“we”or“our”are to BT Group plc(which includes thecontinuing activities of British Telecommunications plc)
5、and its subsidiaries,or any of them as the context may require.References to the“financial year”are to the year ended 31 March of each year,e.g.the“2002 financial year”refers to the yearended 31 March 2002.Unless otherwise stated,all non-financial statistics are at 31 March 2002.Please see cautionar
6、y statement regarding forward-looking statements on page 140.ContentsFinancial headlines3Chairmans message4Chief Executives statement6Business review8Our commitment to society24Five-year financial summary26Financial review28Board of directors and Operating Committee48Report of the directors50Corpora