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Exhibit 12
RSL Communications Ltd
Ratio of Earnings to Fixed Charges
(unaudited in thousands of dollars)
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<CAPTION>
1995 1996 1997 1998 1999 Mar-00 Mar-99
---- ---- ---- ---- ---- ------ ------
<S> <C> <C> <C> <C> <C> <C> <C>
Net Loss................... (9,402) (38,240) (100,199) (219,224) (358,227) (85,243) (56,964)
Add: Income Taxes........ 0 395 401 1,334 3,341 169 0
Loss in Equity
Interest of
Unconsolidated
Subsidiaries...... 0 0 0 3,276 4,718 1,927 224
Extraordinary Item.. 0 0 0 20,800
Minority Interest... 0 180 (210) (6,079) 11,365 (3,332) (1,431)
------------ ----------- ------------ ----------- ------------ ----------- ------------
Adjusted Net Loss.......... (9,402) (37,665) (100,008) (199,893) (338,803) (86,479) (58,171)
Total fixed charges,
primarily interest...... 194 11,359 41,417 75,704 135,410 39,233 29,682
------------ ----------- ------------ ----------- ------------ ----------- ------------
Ratio of Earnings to Fixed N/A N/A N/A N/A N/A N/A N/A
Charges and Preferred
Dividends...............
Deficiency................. (9,402) (37,665) (100,008) (199,893) (338,803) (86,479) (58,171)
------------ ----------- ------------ ----------- ------------ ----------- ------------
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