GFINET, INC. CHOOSES METROMEDIA FIBER NETWORK FOR OUTSOURCED INTERNET INFRASTRUCTURE MANAGED SERVICES.

GFInet, Inc., the hybrid voice and online brokerage service, has selected Metromedia Fiber Network (MFN) (Nasdaq: MFNX) Internet Solutions for outsourced Internet infrastructure managed services. The company has entered into a multi-year agreement to utilize MFN's Site Operations Platform (SOP) - a comprehensive managed services solution for companies that demand a reliable, scalable, secure Internet site infrastructure for mission-critical applications with a 100 percent up-time Service Level Agreement (SLA) at a fixed monthly fee.

GFInet selected MFN's SOP to support its online trading and information systems, including the recently launched GFInet FX Option trading system. GFInet is a global broker for wholesale financial, energy and commodity markets, and offers voice and online brokerage services which are integrated with real-time and historical market data, market commentary and analytics. Due to the potential volatility of the global markets that GFInet serves, one second of downtime can translate into missed profit opportunities, or even worse, significant losses for online traders. MFN's SOP provides GFInet with a reliable, secure and scalable site, enabling the company to handle the large fluctuations in site traffic brought on by ever-changing market conditions. MFN also offers a 100 percent SLA, which demonstrates MFN's commitment to providing GFInet's customers with uninterrupted access to content and services.

In addition to providing one of the most comprehensive solutions, another advantage for GFInet is MFN's flexible approach to managed services. MFN's SOP meets the needs of companies looking for a complete outsourced solution - hardware, software, co-location, bandwidth and services. However, for companies like GFInet that have already invested in building their own Internet infrastructure, the SOP can be tailored to include their existing hardware while still offering a service with a 100 percent SLA.

"Because our customers rely on us for their FX option trades, it is critical that our site is secure, keeps pace with the fluctuating market and has capacity to handle high volume 24 hours a day, seven days a week," said Russ Lewis, executive vice president and chief information officer of GFInet, Inc. "We chose MFN because they are industry experts. Its SOP meets all of our critical site requirements - reliability, security, scalability and performance." Mr. Lewis also stated that a key factor in the decision to outsource with MFN was that MFN could incorporate GFInet's existing infrastructure into its SOP. "This is significant because it capitalizes on GFInet's investment in hardware."

"GFInet, like other successful financial services companies, understands that a solid, scalable, secure Internet site infrastructure is crucial when it comes to serving the financial community," said Mark Spagnolo, president of MFN Internet Solutions. "Traders, especially those who depend heavily on real-time and historical market data, expect their online brokerage service to be reliable and high performing 24x7. We are pleased to help GFInet meet its customers' expectations."

Metromedia Fiber Network, Inc., the leader in deployment of global optical IP infrastructure within key metropolitan areas domestically and internationally, is revolutionizing the fiber-optic industry. By offering virtually unlimited, unmetered metro-area communications capacity at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold.

MFN's optical network enables its customers to implement the latest data, video, Internet and multimedia applications. Through its subsidiaries AboveNet Communications, Inc., the architect of the Internet Service Exchange (ISX), PAIX.net, Inc., the first and leading neutral Internet exchange, and SiteSmith, a leader in delivering comprehensive Internet infrastructure managed services, MFN is a leading provider of Internet connectivity, co-location and managed services solutions for high-bandwidth and business-critical applications. The Company offers a world-class network that provides co-location services and Internet connectivity for content providers, ISPs and application service providers. Its global optical Internet uses open peering and "best exit" technology to deliver fast, scalable and reliable connections to the Internet, and improves the Internet experience for end-users.