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LARGEST KOREAN ISP TO CO-LOCATE WITH ABOVENET.

AboveNet Communications Inc. (Nasdaq:ABOV), the architect of a global one-hop network that brings together high-bandwidth content sites, ISPs, and Application Service Providers in centralized co-location facilities, has announced that Korea Telecom (NYSE:KTC), the largest telecommunications company and largest ISP in Korea, has joined AboveNet's West Coast Internet Service Exchange (ISX) in San Jose.

AboveNet will provide Korea Telecom with fault-tolerant co-location services, superior Internet connectivity, and access to AboveNet's significant bandwidth, which currently totals 10.5 Gbps -- the most bandwidth available at any co-location facility. In addition, Korea Telecom will have access to AboveNet's more than 257 private and public peering relationships with leading ISPs in the U.S. and around the world, which will extend Korea Telecom's Internet presence globally.

Korea Telecom is one of a growing number of Asia Pacific ISPs and telcos who have selected AboveNet as the ideal place to meet with U.S. ISPs, as well as with other Asia Pacific ISPs. These companies are creating an Internet hub at AboveNet for the Asia Pacific Rim region, which speeds the transit of information among the providers and carriers, reduces packet loss, and creates a more positive Internet experience for end-users.

The addition of Korea Telecom has another benefit for companies seeking to do business with Korea, now Korea's two largest ISPs, and the only two international Telco carriers in Korea, are both co-located at AboveNet's West Coast ISX. With both of these Korean ISPs, Korea Telecom and DACOM, located at AboveNet, AboveNet's ISX is the best network for reaching Korean Internet users.

"AboveNet's superior global 'one-hop' network and impressive international client list were key factors to our decision to co-locate our equipment at AboveNet," said Seon-Jo Kim, senior managing director at Korea Telecom. "In addition, we were impressed with AboveNet's sophisticated network monitoring, reporting and real-time routing tools, especially ASAP, which identifies the best route for Internet traffic and further guarantees high satisfaction for Korea Telecom customers."

"Our agreement with Korea Telecom confirms AboveNet's fast growing leadership position among the ISPs and telcos in the Asia Pacific region," said Jerry Chen, AboveNet vice president for the Asia Pacific Region. "AboveNet offers Korea Telecom superior network performance, significant bandwidth, and extensive peering relationships with the key U.S. and international ISPs and content providers. Also, AboveNet's policy of not competing with its ISP and telco customers allows them to use their own routing equipment and establish additional peering relationships, and makes AboveNet the best co-location choice for this market."

AboveNet's Growing Client List From the Asia Pacific Region

AboveNet's major Asia Pacific Rim customers include: AT&T Asia Pacific in Hong Kong; Loral Orion Asia Pacific in Singapore; Hinet, SeedNet and AUNET in Taiwan; Singapore Telecom in Singapore; Linkage On-line and HKNet in Hong Kong; KDD and Mitsubishi Electric Information Network (MIND) in Japan; DACOM and Korea Telecom in Korea; I-Phil.net and Globe Telecom in Philippines; and Netspace, Vicnet and Paradox in Australia. These companies bring more than 950Mbps of capacity into AboveNet's network.

AboveNet's Global "One-Hop" Network

AboveNet's unique network model enables it to offer the best connectivity and network performance to its clients. At each of AboveNet's ISXs, content and service providers connect to each other in a LAN environment and then directly connect to the rest of the Internet through an extensive network of more than 257 private and public peering agreements with all of the top ISPs and backbone providers worldwide.

This architecture reduces the multiple network hops information often takes to reach its final destination on the Internet, and allows AboveNet to keep the information on its network intact until it can be delivered as close as possible to its final destination. The resulting "one-hop" network is highly redundant and delivers superior network performance.

AboveNet further ensures the performance of its network by providing its clients access to its significant bandwidth, which currently totals over 10.5 Gbps-the most bandwidth available on-demand at any co-location facility. AboveNet guarantees 100% headroom on its network so that its clients will have the bandwidth they need as they grow.

About Korea Telecom Corporation

Korea Telcom (KT) is one of the world's leading telecommunications companies and a pioneer in its field. Established one hundred years ago, it is the principal telecommunications company in Korea, with 20 million subscribers and over 500 branches throughout the country.

On May 26,1999, Korea Telecom Inc. was admitted to the New York Stock Exchange following its ADRs Initial Public Offering of 90.2 million shares at $27.56 per share. The Korean government owns approximately 70% of the company, and 30% is privately held. KT revenues for 1998 in U.S. dollars exceeded $8.5 billion.

About AboveNet Communications Inc.

AboveNet Communications, Inc. is a leading provider of Internet connectivity and co-location solutions for high bandwidth and business-critical applications. AboveNet, headquartered in San Jose, is the architect of the Internet Service Exchange (ISX) -- a world class network that provides co-location services and Internet connectivity for Content Providers, ISPs, and Application Service Providers (ASPs).

The AboveNet Global One-Hop Network is designed to deliver fast, scalable and reliable connections to the Internet and improves the Internet experience for end-users. With its Tier 1 status and ISO 9002 certification, AboveNet is seeking to serve the global community of the Internet. For more information on AboveNet and its service offering call 800/475-2733 or visit the company's Web site at www.above.net.
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Comment:LARGEST KOREAN ISP TO CO-LOCATE WITH ABOVENET.
Publication:Worldwide Telecom
Geographic Code:1USA
Date:Sep 1, 1999
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