ATN Moves to NASDAQ National Market; Trading under ``ATNI'' Expected to Commence on May 23, 2006.

SALEM, Mass. -- Atlantic Tele-Network, Inc. ("ATN") (AMEX:ANK) today announced that NASDAQ has approved the listing of ATN's common stock on the NASDAQ National Market. ATN expects to complete its listing transfer from the American Stock Exchange to the NASDAQ National Market and commence trading under the symbol "ATNI" on the NASDAQ National Market on May 23, 2006.

"We have made the decision to move to the NASDAQ National Market because of our belief that it will provide our stockholders with better liquidity and market pricing, and that it will be a better fit for the Company at this stage in its development," said Michael T. Prior, President and Chief Executive Officer of ATN. "We have had a long relationship with the American Stock Exchange and appreciate all that they have done over the years to assist us and our stockholders."

About Atlantic Tele-Network

Atlantic Tele-Network, Inc. is a telecommunications company with corporate offices in Salem, Massachusetts and St. Thomas, U.S. Virgin Islands. Its principal subsidiaries include: Guyana Telephone and Telegraph Company, Limited, which is the national telephone service provider in the Cooperative Republic of Guyana for all local, long-distance and international service, as well as the largest cellular service provider; Commnet Wireless, LLC, which provides voice and data wireless roaming services for U.S. and International carriers in rural areas throughout the United States; SoVerNet, Inc., which provides wireline voice and data services to businesses and homes across Vermont; and Choice Communications, LLC, which provides wireless television and wireless broadband services, as well as dial-up internet services in the United States Virgin Islands. ATN also owns 44% of Bermuda Digital Communications Ltd., which, under the Cellular One name, is the largest provider of cellular voice and data services in Bermuda.

Cautionary Language Concerning Forward-Looking Statements. This news release contains forward-looking statements relating to, among other matters, the timing of ATN's listing transfer to, and the perceived benefits of listing on, the NASDAQ National Market. These forward-looking statements are based on estimates, projections, beliefs, and assumptions and are not guarantees of future events or results. Actual future events and results could differ materially from these statements as a result of many factors, including those set forth under Item 1A "Risk Factors" of ATN's Annual Report on Form 10-K for the year ended December 31, 2005, which is on file with the SEC. ATN undertakes no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors that may affect such forward-looking statements.