AboveNet and Fibertech Networks Enter Into Network Pact; AboveNet Extends Network Footprint To Connect Stamford, CT and White Plains, NY.

NEW YORK & ROCHESTER, N.Y. -- AboveNet, Inc. a premier metro network access provider for businesses, today announced it has extended its network by connecting its metropolitan New York City footprint to locations in Connecticut through a five-year agreement with Fibertech Networks, LLC, a leader in building and operating fiber optic networks within mid-size U.S. cities.

AboveNet will utilize dark fiber strands from Fibertech on a connection between Stamford, Connecticut, and White Plains, New York. This agreement will enable AboveNet to provide an enhanced level of network diversity and further bolster its 2004 growth initiative of expanding its base of enterprise clients.

"AboveNet is a valuable telecommunications alternative for enterprise customers looking for a secure, high-speed, high-capacity network environment," said John Jacquay, Senior Vice President Sales and Marketing. "This agreement with Fibertech expands on the route choices we can provide to customers with connectivity needs into the Connecticut region."

By leasing strands of dark fiber from Fibertech, AboveNet gains the unlimited capacity associated with it to support its new bandwidth intensive services such as metro Ethernet, coarse wave division multiplexing (CWDM) and higher-end dense wave division multiplexing (DWDM). It also provides complete control of network facilities for it to provide the security and reliability necessary to support its customer's business critical communications and data applications.

"We are very pleased that AboveNet, one of the pioneers in offering metro fiber optic based services, has chosen Fibertech to support its growth efforts," said Fibertech Vice President of Sales and Marketing Michael Hurley. "This agreement is a strong endorsement for Fibertech's business plan to serve as the leading alternative provider of local metro transport infrastructure in mid-size cities throughout the Northeast."

In the United States, AboveNet owns and operates extensive metro networks in 12 major U.S. markets including New York, Boston, Philadelphia, Washington D.C., Northern Virginia, San Francisco, Los Angeles, Chicago, Atlanta, Dallas, Houston, and Seattle. AboveNet also owns and operates an extensive metro network in London, U.K.

Fibertech has local metro networks operational in 16 mid-size cities including Providence, Rhode Island; Pittsburgh, Pennsylvania; Buffalo, Syracuse, Rochester, Binghamton, and Albany, New York; Indianapolis, Indiana; Columbus, Ohio; Hartford, Bridgeport and New Haven, Connecticut; and Worcester and Springfield, Massachusetts. Additions in 2004 include Stamford, Connecticut, and Wilmington, Delaware.

In addition to its direct enterprise business, Fibertech's diverse route, "open-access" networks allow for numerous communications and Internet providers to offer facilities-based services. Its networks connect strategic routes, passing key corporate centers, major switching hubs and other high data aggregation points throughout the city's central business district and suburban areas.

About AboveNet, Inc.

AboveNet, Inc. is a leading provider of integrated access services to leading edge enterprises. AboveNet builds and operates an office-to-office, 100-percent optical network enabling customers to create an efficient, cost-effective network that breaks economic and performance barriers imposed in the last mile by complex legacy telecom infrastructures. With one of the most extensive metropolitan optical networks in the world, data centers throughout the US and Europe, top quality managed services and a high-performance IP network, AboveNet is able to offer the most flexible and complete information exchange solutions in the industry.

About Fibertech Networks

Headquartered in Rochester, N.Y., Fibertech Networks is a leader in building and operating fiber optic networks throughout mid-size cities in the Eastern and Central regions of the United States. The company has built metro-area networks strategically connecting local Telco central offices, carrier hotels, data centers, office parks and other high traffic locations. Fibertech recently placed fifth on the 2004 Rochester Top 100 list, which ranks privately held companies based on three years of revenue growth.

Founded in 2000 and privately held, Fibertech investors are led by Nautic Partners of Providence, R.I., and Banc of America Capital Investors of Charlotte, N.C. Further information about the company can be found at www.fibertech.com.