FiberCorp closes 12 million Euro financing round

Jan. 21, 2002
January 21, 2002--Metropolitan fiber connectivity company FiberCorp has obtained an additional 12 million Euro from current shareholders, increasing the company's total funding secured since 2000 to 70 million Euro.

Metropolitan fiber connectivity company FiberCorp has obtained an additional 12 million Euro from current shareholders, increasing the company's total funding secured since 2000 to 70 million Euro.

With the build-out of its networks in the Netherlands and Belgium under the EuroFiber brand name essentially complete, FiberCorp has shifted its focus to servicing customers with its unique offer. The additional funding will allow FiberCorp to continue to pursue business opportunities and finance customer extensions to its networks. FiberCorp is one of the few players that can address the lack of fiber in metropolitan areas within the Benelux countries, claim company representatives.

The company targets telecommunications companies as well as large companies and governmental institutions. FiberCorp has established EuroFiber as a major provider of dark fiber solutions, and has previously announced that it counts major telecommunications operators among its customers.

In addition, the company has announced its new CEO, telecommunications veteran Gerald Wilczek, who joins FiberCorp. from Global One. Armand Bogaarts, who
cofounded the company in 2000 and has been its Chairman and CEO until
January 1, 2002, will take on the position of Chairman of the Board.

FiberCorp recently announced a contract with CMG, the Dutch consultancy organization specializing in IT and telecommunications, which uses a FiberCorp dark fiber connection to connect its offices in Hoofddorp and Amstelveen, the Netherlands.

LambdaNet Communications, the pan-European operator of high-speed telecommunications networks, has signed a framework agreement for the use of
FiberCorp's extensive dark fiber network in the Netherlands.

The launching customer in Belgium is Groupe S, the Social Security company that handles the payrolls of 20,000 companies in Belgium. Groupe S has ordered a dark fiber from FiberCorp to connect its offices in Brussels.

For more information about FiberCorp, headquartered in Brussels, visit the company's Web site at www.fibercorp.net.

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