Atlantic Tele-Network, Inc. Announces Acquisition of Antilles Wireless Cable TV Company.

Business Editors

ST. THOMAS, U.S. Virgin Islands--(BUSINESS WIRE)--April 4, 2000

Atlantic Tele-Network, Inc. (AMEX:ANK) announced today it had acquired Antilles Wireless Cable TV Company, the sole wireless distributor of television programming in the U.S. Virgin Islands.

Cornelius B. Prior, Jr., the Chairman and Chief Executive Officer of ATN, stated: "Antilles Wireless' T.V. operations and its MMDS and LMDS licenses for the U.S. Virgin Islands are a natural fit with the internet access business of VIAccess which we recently acquired and are operating through our subsidiary, Wireless World, LLC. (see www.viaccess.net). This acquisition continues our program of expanding ATN's telecommunications related operations throughout the Caribbean."

Gordon Ackley, CEO of Wireless World, said: "We are looking forward to using the MMDS spectrum for a new two-way high speed internet service completely independent of the local phone company (Vitelco). The new "third pipe into the home" service eliminates the need for a phone line and provides two-way broadband internet access capable of delivering voice-over-IP (VOIP), data, video, security and interactive control of machinery and equipment beyond simple automation."

Antilles Wireless was owned principally by Mr. Prior. For the acquisition, ATN issued 242,424 shares of ATN common stock and paid $1.5 million. The terms of the acquisition, which approximated Mr. Prior's cost, were fixed and approved by the independent directors on ATN's board in December 1999 after reviewing an independent appraisal of Antilles Wireless made by Corporate Valuation Advisors, Inc. The stock issued will be held in pledge until at least March 2003 as security for certain obligations of Mr. Prior under the acquisition agreement.

Atlantic Tele-Network, Inc. is a telecommunications company with headquarters in St. Thomas, U.S. Virgin Islands. Its principal subsidiary, Guyana Telephone and Telegraph Company, Limited, is the national telephone service provider in the Cooperative Republic of Guyana for all local, long-distance and international service. ATN also owns an 80% interest in Digicom S.A., which provides dispatch radio, wireless data network and paging services in Haiti, and owns 30% of Bermuda Digital Communications Ltd., which operates under the name "Cellular One" and is the sole cellular and PSC competitor to the Bermuda Telephone Company.