African Sky 3.5 Million Dollar Financing.

Business Editors

TORONTO--(BUSINESS WIRE)--Nov. 21, 2000

African Sky Communications Inc. (CDNX:PHN.) intends to complete a private placement of up to maximum gross proceeds of $3,500,000 at a price of $0.45 per share.

The private placement will assist in financing the Company's future equipment purchases, communications roll-out and strategic acquisitions.

The completion of the private placement is subject to regulatory approval and the filing of a formal application with the Canadian Venture Exchange within 14 calendar days of this press release to maintain this price reservation.

African Sky Communications Inc. is a Canadian public company listed on the Canadian Venture Exchange (www.cdnx.ca) trading under the symbol 'PHN'. The Company focuses on providing communications services throughout Eastern and Southern Africa. African Sky Communications Inc, through a joint venture has obtained the right to provide communication services in South Africa. In addition the Company has an agreement with the Common Market for Eastern and Southern Africa (COMESA) to implement and operate communication networks in its 21 member states. Currently South Africa has a teledensity (number of main telephone lines per 100 people) of less than 12 and the COMESA region has a teledensity of less than 1. The Company is utilizing wireless and satellite based communications and is delivering services such as telemedicine and distance learning specifically to the women and children in the region. Currently the Company has implemented the first phase of its network in South Africa. Recently the Company has formed a partnership with the International Development Research Centre, Canada (IDRC) to provide monitoring and evaluation services on the impact of its communication network. The IDRC (www.idrc.ca) will also source external funding for the Company's distance learning and telemedicine projects. ----------------------- Harry Corrigan Chief Executive Officer

The Canadian Venture Exchange neither approves nor disapproves of this news release.