MFN trims European assets

January 24, 2003--Metromedia Fiber Network, Inc. (MFN), a provider of optical communications infrastructure, has decided to focus its European activities in the UK and Germany/Austria. In keeping with this strategy, the company's European holding company, MFN BV, has sold its operations in France and the Netherlands.

January 24, 2003--Metromedia Fiber Network Inc. (MFN), a provider of optical communications infrastructure, has decided to focus its European activities in the UK and Germany/Austria. In keeping with this strategy, the company's European holding company, MFN BV, has sold its operations in France and the Netherlands to management buy-out teams and its metropolitan fiber network in four Dutch cities to Global Voice Network Ltd.

The management teams will assume operations of the data centers and will provide service to the company's collocation and managed services customers. MFN expects customers will not see an interruption in service.

MFN, Inc. and MFN BV will maintain ownership in the company's global IP network and continue to provide IP services to the management buy-out teams for resale to their customers, as well as to the company's global customers with a presence in France and the Netherlands.

"We are looking ahead at a long-term strategy that will not only strengthen our current position, but also allow us to grow. This sale will allow customers in these data centers and on the metropolitan area networks to receive the same top-quality service they demand from the same expert staff, without any interruptions," said Tom Byrnes, president of MFN International. "Our global IP network will continue to service customers in these facilities. We are looking forward to working with the management teams and establishing a mutually beneficial relationship that will prosper well into the future."

MFN, which filed for Chapter 11 protection last May, will continue to operate its data centers in London, Frankfurt and Vienna, and its metropolitan area networks in London and Germany. These cities will form the foundation of the company's European presence.

The company also announced that it sold a single fiber conduit in portions of MFN's completed network in the Phoenix market to AGL Networks, LLC, a wholly owned subsidiary of AGL Resources Inc. MFN is the only licensed dark fiber provider in the Phoenix area.

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