AboveNet Peering Tops 250 as Connection to Europe Comes On-line; AboveNet Takes Open Peering Policy to Europe.

SAN JOSE, Calif.--(BUSINESS WIRE)--April 26, 1999--

AboveNet Communications Inc. the architect of a global one-hop network that brings together high-bandwidth content sites and Internet Service Providers (ISPs) in centralized co-location facilities, today announced the redundant STM1 fiber optic cable purchased from Global Crossing Ltd. connecting AboveNet's Internet Service Exchange(TM) (ISX(TM)) in Tysons Corner, VA and Europe is now operational.

The new connection provides a link between the London Internet Exchange (LINX) and AboveNet's East Coast ISX facility via a router in New York City, where the company is planning to develop an ISX facility to establish an East Coast campus. AboveNet now can count some of the leading European ISPs as peering partners with the connection at LINX. As of March 31, 1999 the total number of AboveNet's Global peering partners is now over 250 and extends the reach of AboveNet's Network into Europe.

The London Internet Exchange is the largest exchange point in Europe for Internet traffic, and includes UK ISPs as well as European ISPs as members. European and International ISPs can now peer with AboveNet directly at LINX and gain access to AboveNet's high speed, low latency network. This connection is an important step in the extension of the AboveNet Global One Hop Network(TM) to the regional European Internet Service Exchange facilities, giving them direct access to AboveNet's high performance network.

Over the past five weeks, AboveNet has announced their first three strategic joint ventures to develop regional ISX facilities in Austria, Germany and the UK. These facilities are being designed to deliver to local communities a fast, reliable and scalable Internet solution for business-critical and high bandwidth Internet applications. These facilities are expected to bring content providers and ISPs together to deliver superior connectivity for local access and a direct link into AboveNet's network.

"With our redundant STM1 line into LINX now operational, and with peering relationships with leading UK and European ISPs we can offer connectivity services to customers seeking high performance Internet connections," said Bill Dobbie, Managing Director of AboveNet UK Ltd. "This connection and our presence at LINX enables the fast and efficient exchange of traffic between the AboveNet Global One Hop Network and European networks."

"This is an important step in closing the gap between the US and European Internet and in furthering our global strategy to the UK and into Europe. As LINX is an important exchange point in Europe, we are now in a position to deliver superior connectivity to important European networks and content to our global customer base, and vice versa," said Dave Rand, Chief Technology Officer of AboveNet. "This is the beginning of our European expansion to extend our network globally, in order to deliver the high performance that emerging Internet applications, such as e-commerce, Voice over IP, and streaming media, demand."

About AboveNet Communications Inc.

AboveNet Communications, Inc. is a leading provider of Internet connectivity and co-location solutions for high bandwidth and business-critical Internet applications. AboveNet is the architect of the Internet Service Exchange (ISX) -- a world class network that provides co-location services and Internet connectivity for Content Providers and ISPs. The AboveNet Global One-Hop Network is designed to deliver fast, scalable and reliable connections to the Internet and improve the Internet experience for end-users. With its Tier 1 status and ISO 9002 certification, AboveNet is seeking to serve the global community of the Internet. For more information on AboveNet and its service offerings visit the company's Web site at www.above.net or 800/475-2733.

Note to Editors: AboveNet, Internet Service Exchange, ISX and AboveNet Global One-Hop Network are trademarks of AboveNet Communications, Inc. All other company or brand names may be trademarks of the respective companies with which they are associated.

The statements contained in this press release that are not purely historical are forward looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the company's expectations, beliefs, hopes, intention or strategies regarding the future. Factors that could cause or contribute to such differences include risks related to the Company's services, including network scalability and Internet connectivity, the ability to develop, establish and operate planned ISX facilities, including European ISX facilities, the ability to maintain and increase peering relationships, intense competition, and other factors and risks discussed in the company's registration statement on form S-1, filed with the Securities and Exchange Commission on April 7, 1999 and other reports filed from time to time with the Securities Exchange Commission.