Global Telecom Operator @IPbell Receives Investment by Three Leading Icelandic Organizations: Siminn-Iceland Telecom, FBA - the Icelandic Investment Bank and Opin kerfi.

Business Editors/Hi-Tech Writers

WASHINGTON--(BUSINESS WIRE)--March 8, 2000

@IPbell, a new global telecommunications operator, has sold a 20 percent stake to three Icelandic companies, Siminn-Iceland Telecom, FBA - The Icelandic Investment Bank and Opin kerfi. Other shareholders in @IPbell include UK investment firm Skye Capital, and a group of founding shareholders. In addition, stockholders of IP telephony equipment company Science Dynamics Corporation (OTCBB: SIDY) will, in the coming months, be given the opportunity to invest in @IPbell prior to @IPbell's planned initial public offering in the U.S.

@IPbell, headquartered in the Washington, DC metropolitan area, is building a global network of Internet Protocol (IP) nodes. @IPbell will provide the backbone equipment; marketing and worldwide presence enabling individual in-country operators to offer corporate users with international communications requirements access to a state-of-the-art network. On @IPbell's network, multi-media traffic, including voice, video, fax, data and integrated traffic will be transported simultaneously. The network is designed initially to deliver voice-based services to 50 sites around the world and scale up to 1,000 sites within two years. All sites will be connected back to one of three initial main hubs in New York, Los Angeles or London.

Among @IPbell's strategic partners are Cisco Systems, Hewlett-Packard, Oracle and Science Dynamics Corporation. Cisco and Hewlett-Packard will provide equipment financing. It is planned that the company will be listed on the NASDAQ stock market within 12 months. The Icelandic investors appoint two of seven members of the board.

About @IPbell

@IPbell is a global telecommunications operator that will simultaneously transport multimedia traffic, including voice, video, fax, data and integrated traffic across a worldwide network of IP nodes. @IPbell will provide the backbone equipment, marketing and a worldwide presence enabling individual in-country operators to offer their customers access to a state-of-the-art network. Strategic partners and vendors include GTE/BBN, Cisco Systems, Science Dynamics Corporation, Oracle, Hewlett-Packard, Simplified Telesys, Belle Systems and Jyra Research.

About Siminn - Iceland Telecom

Siminn - Iceland Telecom Ltd. Is Iceland's leading telecommunications operator and has built an extensive and highly developed telecom network in Iceland, as well as securing good international connections via submarine cables and satellite. Siminn, with over 1,300 employees, makes use of all the latest innovations in the world of telecommunications and information technology to provide its customers with fast, convenient and reliable communications around the world. Please visit at www.siminn.is.

About Opin kerfi

Opin kerfi is a progressive Icelandic information technology company. Opin kerfi offers total solutions in computer matters for Icelandic companies and organizations in cooperation with selected software firms. In addition, Opin kerfi serves a number of authorized dealers throughout the country, supplying computer equipment and peripheral products from well-known manufacturers such as Hewlett-Packard, Cisco Systems and Oracle while also being an investor in Iceland's information technology sector. Please visit Opin kerfi at www.hp.is.

About FBA

FBA - The Icelandic Investment Bank focuses on financial services to medium to large corporations, institutional investors and high net-worth individuals. FBA is a leading corporate bank in Iceland and through specialized services, the bank's employees are creating value-added solutions for its customers. The bank is also expanding outside of Iceland in its fields of expertise. Please visit FBA at www.fba.is.

Except for the historical information contained herein, this news release contains forward looking statements that involve risks and uncertainties, including the impact of the competitive products and pricing and general economic conditions as they affect the Company's customers. Actual results and developments may therefore differ materially from those described in this release.