TEL AVIV, ISRAEL--(Marketwired - Oct. 23, 2014) - Athlone Investments Limited ("Athlone") (TASE:ATLN)(ATLN:IT) is pleased to announce that it has secured the services of Edwin Thompson as Group Chief Operating Officer.

Edwin was previously the head of the MTN Groups Enterprise Technology and Infrastructure division where he was responsible for critical Internet related infrastructure including data centres. His role which took him into various of the MTN Group's African operations provides him with ideal experience for the Pan African ambitions of Athlone.

Edwin has a long pedigree of building IP infrastructure starting out with Pipex SA - one of the original ISP's in South Africa following a formative career in digital networks. After numerous acquisitions Pipex eventually became Verizon SA, one of SA's largest ISP's.

He also has extensive legal and regulatory experience which he gained while the technical director of UUNET (which acquired Verizon) and has also operated across a number of African countries providing him with the perfect resume for tackling the Athlone strategy of Pan African expansion.

Edwin has built major data centres including one of SA's largest while at Verizon which was then acquired by MTN to form what become known as MTN Business. Edwin is highly skilled and qualified and he joins an experienced team of African telecom executives who collectively promise to realize their unique and demanding ambitions for delivering broadband and digital services to millions of Africans.

About Athlone

Athlone's subsidiary Vaninga & Investimentos Limitada is a Mozambican telecommunications operator licensed to provide a full range of fixed and wireless services nationally. It will focus on the provision of carrier neutral data centre services which are in very short supply in Mozambique and in Sub Saharan Africa generally. The company will launch services in Maputo in the early new year and have already received expressions of interest for the full capacity of rack space available.

In addition to traditional data centre services such as hosting and co-location, Vaninga plans to provide, a range of Cloud based services such as Platform as a Service and Infrastructure as a Service, virtual servers, secure storage and media streaming. Its customers include banks, telecommunications operators, Government, SME's and Consumers.

Cautionary Note Regarding Forward-looking Information

This press release contains "forward-looking information" within the meaning of applicable Israeli securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's business model. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; and other risks of the industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information:

Ross Macdonald

Gordon Edwards