LambdaNet Communications GmbH Secures EUR 64 Million Credit Facility

New Facility and Equity Fully Funds Company's Business Plan

Hannover, Germany 1.10.2002 (ots/PROTEXT) - LambdaNetCommunications GmbH today announced that it has completed a EUR64 million credit facility contract with its house banks andKfW. Additionally, LNG Holdings SA, the parent company ofLambdaNet Communications GmbH (LNC), will provide EUR 15 millionof equity to LambdaNet in connection with the facility. Thisfinancing plan fully funds the company's business plan, whichincludes marketing the LambdaNet network and advanced IPservices to carriers in Austria, the Czech Republic and Denmark.The credit facility amounts to EUR 64 million, which makesavailable an additional EUR 14 million on top of the existingcredit line. Financing was organized by KfW and LNCDeutschland's house banks in Germany, HypoVereinsbank andDresdner Bank.

"We are very pleased that KfW, Hypovereinsbank and DresdnerBank have reinforced their support for LambdaNet's businesspotential," said Bernie Smedley, Chairman and CEO of LNGHoldings, SA. In less than three years, LambdaNet has beenranked among the top three networks in Europe. Revenues havedoubled year-over- year and the stable customer base continues togrow. The positive financial results, fully-built andoperational network, and dedicated customer service are a creditto this company's hard work and discipline during these troubledeconomic times.

"Thanks to the cost-effective approach of LNC Deutschland, wewere able to show a positive EBITDA result right from thebeginning. This goal, combined with the focus on the wholesalesegment, has proven to be a valid strategy," confirmed JoachimPiroth, Managing Director and CFO at LambdaNet Deutschland.

About LNG Holdings SA LNG Holdings SA has its headquarters inLuxembourg. The company - through its subsidiaries - employsaround 250 people in Europe, with the majority of employees inGermany, France and Spain.

About LambdaNet Group Connecting key European data centersand 104 cities in 10 countries, LambdaNet's 22,000-kilometerfiber and IP network is one of the most powerful and closelywoven networks in Europe, servicing more than 180 customers. ItsEuropean customer base is stable, serving a broad range oftelecommunications operators (telcos, voice/access, mobile, ISP,ASP and CATV) including Vodafone D2, Cable & Wirelss and Telia.Additionally, LambdaNet operates Metropolitan Area Networks(MANs) in eight European centers of business - Paris, London,Amsterdam, Madrid, Vienna, Frankfurt, Dusseldorf and Hamburg. LambdaNet Group offers traditional transport services(wavelength, bandwidth and collocation services) and delivershigher value services that include advanced IP transport (IPTransit, Virtual Private Networks).

For more information, please visit www.lambdanet.net.ots Original Text Service: Internet: http://www.presseportal.de

CONTACTS Katharina Siebert +49 (0) 511 8488-1120

katharina.siebert@lambdanet.net

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