Carrier1 and AOL Extend Their Agreement to Cover Germany.

Business Editors

ZURICH--(BUSINESS WIRE)--Nov. 27, 2000

Continuing to build upon its position as one of Europe's top providers of outsourcing solutions for large users of communication services, Carrier1 International S.A. (Neuer Markt: CJN; NASDAQ: CONE) announced that it has been awarded an expansion of its dialup access services agreement with America Online, Inc, the world's leading provider of interactive services. The agreement will expand Carrier1's work with AOL into the German market, and follows an initial contract signed in September to provide AOL with dialup access services in the United Kingdom.

In making the announcement, Stig Johansson, Carrier1's president and CEO, said that the company was very pleased with its commercial relationship with AOL and expected to become a major provider for AOL in the U.K and Germany. "AOL's decision to outsource its telecom infrastructure requirements to Carrier1 confirms our reliability and quality of services, and is proof that more and more operators, content providers, ISPs and large corporate customers believe that Carrier1 is the best outsourcing partner for pan-European telecom services and solutions," added Johansson.

Carrier has a proven track record to design, build and operate complex network solutions based on its significant infrastructure assets as well as its comprehensive portfolio of value added applications. "Large communication users like AOL trust us to run significant mission-critical components on our communications infrastructure that in turn provides service to millions of end users,"said Johansson.

About Carrier1

Carrier1 International S.A. is a leading European provider of end-to-end Internet, voice, bandwidth, data centre, and access solutions to large users of communication services. Carrier1 provides its clients with carrier-grade transport and network solutions as well as end-user ready value added services. Carrier1 customers brand and market these solutions and services to their respective end-users.

The Carrier1 pan-European inter-city fibre network connects 12 countries and currently spans over approximately 11,000 route kilometres connecting points-of-presence in over 20 European cities. Carrier1 is operational in all 12 countries and has secured all the necessary interconnects and operational licenses that allow it to provide network solutions and end-user ready value added services. Carrier1 is also constructing 7 city ring fiber networks and plans to build/acquire at least another 13 city ring fibre networks. Through its investment in the joint venture Digiplex, Carrier1 has space available for service in Digiplex' Frankfurt and Oslo data centre facilities. Digiplex is building a further 6 full-service data centre facilities and plans to build at least another 12 data centre facilities.

Forward Looking Statements: The information contained in this press release contains "forward-looking statements" within the meaning of the U.S. Federal Securities Laws. These statements include: Carrier1's expectation of the success and scope of its services to AOL and it becoming a major provider for AOL in the UK and Germany; the statements relating to the continued reliability and quality of our services; the believe of users of communication services that Carrier1 is the best outsouricng partner for communication services; and the statement relating to the trust of large communication users in Carrier1 to run their mission-critical components on our infrastructure.

These statements are based on the current expectations of the management of Carrier 1 International S.A., and performance is subject to risks, uncertainties and other factors that could cause actual results to differ materially from these statements. Such risks include, but are not limited to, adverse regulatory, technological or competitive developments, decline in demand for the company's services or products, inability to timely develop and introduce new technologies, products and services, pressure on pricing resulting from competition, unforeseen construction delays, and failure to receive on a timely basis necessary permits or other governmental approvals, and failure to obtain any necessary financing if management's business plan assumptions are not met, and failure of third parties with whom the Company has contracted including for the supply or maintenance of infrastructure components. For a more detailed discussion of these risks, uncertainties and other factors affecting the company, please refer to the company's prospectus and 10-K,10-Q and 8-K reports filed with the U.S. Securities and Exchange Commission, including its 10-K for the year ended 31 December 1999 and its 10-Qs for the 3-month period ended 31 March 2000, 30 June 2000 and 30 September 2000.