LambdaNet Gets €64M Credit

HANNOVER, Germany -- LambdaNet Communications GmbH --which operates one of Europe's most powerful and closely woven fiber opticnetworks -- today announced that it has completed a EUR 64 million creditfacility contract. Additionally, LNG Holdings SA, the parent company ofLambdaNet Communications GmbH (LNC), will provide EUR 15 million of equity toLambdaNet in connection with the facility. The combined facility and equityfully funds the company's business plan, which includes marketing thecompany's extensive network and advanced IP services to carriers in theAmericas as well as Austria, the Czech Republic and Denmark.The credit facility amounts to EUR 64 million, which makes available anadditional EUR 14 million on top of the existing credit line. Several leadingGerman financial institutions -- including KfW and LambdaNet's banks,HypoVereinsbank and Dresdner Bank -- organized the financing."We are very pleased that KfW, Hypovereinsbank and Dresdner Bank havereinforced their support for LambdaNet's business potential," said BernieSmedley, Chairman and CEO of LNG Holdings, SA. "In less than three years,LambdaNet has been ranked among the top three networks in Europe. Revenueshave doubled year-over-year and our stable customer base continues to grow.The positive financial results, fully built and operational network, anddedicated customer service are a credit to the company's hard work anddiscipline during these troubled economic times."LambdaNet Communications GmbH