LambdaNet secures EUR64m credit facility

7 October 2002 -- LambdaNet Communications - which operates a 22,000km fibre and IP network in Europe - has secured a EUR64m credit facility.

7 October 2002 -- LambdaNet Communications - which was founded in April 1999 and operates a 22,000km fibre and IP network reaching 62 cities in 10 countries in Europe - has secured a EUR64m credit facility, organised by investment bank KfW and LambdaNet's banks, Hypovereinsbank and Dresdner Bank.

Also, LambdaNet Communications' Luxembourg-based parent company LNG Holdings SA will provide EUR15m of equity in connection with the credit facility.

LambdaNet recently announced plans to market its services to carriers in the US, Canada and Latin America.

LambdaNet says that its revenues have doubled year-over-year and the stable customer base continues to grow.

www.lambdanet.net

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