Atlantic Tele-Network Announces International Traffic Figures for Third Quarter 1998.

ST. THOMAS, U.S. Virgin Islands--(BUSINESS WIRE)--Oct. 9, 1998--Atlantic Tele-Network, Inc. (AMEX:ANK), released today international traffic figures for its subsidiary, the Guyana Telephone and Telegraph Company Limited ("GT&T") for the third quarter of 1998.

Inbound international traffic, which carries the greatest profit margins for GT&T, increased approximately 12% in the nine months ended September 30, 1998 over the first nine months of 1997, while audiotext traffic, which has a lesser profit margin, declined approximately 43%, reflecting a continuation of the decline initially experienced in the fourth quarter of 1997. In anticipation of the decline in audiotext traffic, on December 31, 1997, GT&T had filed for a substantial increase in local, long distance and outbound international rates. The interim rate changes, effective February 1, 1998, increased outband international rates by approximately 40%. This increase has resulted in a 34% decline in outband traffic and is partly responsible for the increase in inbound traffic for the third quarter. GT&T expects audiotext revenues to continue to decline for the foreseeable future.

Atlantic Tele-Network, Inc. is a telecommunications company with headquarters in St. Thomas, U.S. Virgin Islands. It's principal subsidiary, Guyana Telephone and Telegraph Company Limited, is the national telephone service provider in the Republic of Guyana for all local, long-distance and international service. ATN also owns 30% of Bermuda Digital Communications Ltd., which when operational will be the sole cellular and PCS competitor to Bermuda Telephone Company, and has a 75% interest in Digicom S.A., which provides dispatch radio, mobile telecommunications and paging services in Haiti.

This release contains forward-looking statements within the meaning of the federal securities laws, including estimates of the revenues to be derived from GT&T's rates and statements of management's expectations and beliefs. Actual results could differ materially from these statements as a result of many factors, including matters discussed in the Company's Form 10K annual report for the fiscal year ended December 31, 1997 which is on file with the Securities and Exchange Commission.

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                      ATLANTIC TELE-NETWORK, INC.
                    Selected Operations Statistics
    For the Three and Nine Months Ended September 30, 1997 and 1998
                (In Thousands, Except Access Line Data)


Guyana Telephone
 & Telegraph Co., Ltd.
                               As of      As of      As of      As of
                              9/30/97    3/31/98    6/30/98    9/30/98

Access lines
 at end of period              53,087     56,323     57,522     58,800


International Long-Distance Traffic:

                     For The                                 For The
                      Nine                                    Nine
                     Months                                  Months
                      Ended     For the Three Months Ended    Ended
                     9/30/97     3/31/98  6/30/98  9/30/98   9/30/98

International
 Minutes of Traffic:

   Inbound            32,750     11,517   12,371   12,837     36,725
   Audiotext          78,147     15,848   14,884   13,466     44,198

      Total inbound  110,897     27,365   27,255   26,303     80,923

   Outbound           18,848      4,092    4,078    4,181     12,351

      Total          129,745     31,457   31,333   30,484     93,274

International Minutes
 of Traffic Mix:

   Inbound             25.2%      36.6%    39.5%    42.1%      39.4%
   Audiotext           60.2%      50.4%    47.5%    44.2%      47.4%
   Outbound            14.6%      13.0%    13.0%    13.7%      13.2%

      Total           100.0%     100.0%   100.0%   100.0%     100.0%