Prestige Telecom completes $20 million acquisition of Radian and concurrent financings

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Prestige Telecom Inc.

December 2008

On December 15, 2008, Prestige Telecom Inc. of Montreal, Quebec, announced that it had completed its previously announced acquisition of all of the outstanding shares of Radian Communication Services (Canada) Limited, as well as certain United States assets of an affiliate of Radian.

Pursuant to the acquisition, the aggregate purchase price for Radian was $20,234,000, plus assumed debt of $611,000, subject to adjustments.

Prestige is a leading provider of network engineering, materials furnishing, installation and support services (commonly referred to as EF&I services) required to construct, operate and maintain wireline, wireless and cable television networks. Prestige assists telecommunications original equipment manufacturers and service providers to engineer, install and upgrade their infrastructures to support enhanced voice, high speed data and video services.

Prestige was advised in this acquisition and the financings by a team from Fasken Martineau led by Peter Villani and that included, among others, Frédéric Boucher, Jean Michel Lapierre, Natasa Karambatsos and Rebecca McLeod (corporate/securities); Félix Gutierrez, Katherine Hébert-Vachon and Francis Trifiro (banking); Claude Jodoin (tax); and Anthony Baldanza (competition).