Columbus Communications reels in New World Network, adds to recent LAC acquisitions

April 5, 2005 Bridgetown, Barbados and Miami, FL -- Columbus Communications, a Barbados corporation that holds controlling interest in a number of telecommunications providers in the Caribbean region, has signed a letter of intent to purchase New World Network, a provider of high-speed clear channel and IP services in the region, and the principal owner of the Americas Region Caribbean Optical-ring System (ARCOS).

The purchase is subject to the completion of definitive acquisition agreements by Columbus and the shareholders of New World Network, and to the receipt of applicable regulatory approvals. The parties expect the transaction to close during the summer of 2005.

"Through the purchase of New World Network, Columbus will substantially enhance its presence in the Caribbean and Latin America region, and obtain access to advanced telecommunications capabilities and bandwidth to augment the services provided by other companies in which Columbus is the controlling shareholder," comments Brendan Paddick, CEO of Columbus.

"We will continue to support our existing customers during the transition period, and we believe that we will be better equipped to meet their needs over the long term as a result of this combination," adds David Martin, president of New World Network USA.

In the last three months, Columbus has also acquired a controlling stake in Cable Bahamas, a provider of cable television and broadband services in the Bahamas. Cable Bahamas' wholly-owned subsidiary, Caribbean Crossings, operates submarine fiber-optic cable systems linking the Bahamas and the United States. Also, in February 2005, Columbus acquired Merit Communications, a data provider in Jamaica. Further, Columbus-controlled FibraLink Jamaica was recently awarded an exclusive license to build and operate a submarine fiber-optic cable network connecting Jamaica to the United States.

"We intend to interconnect the ARCOS cable system with those of Caribbean Crossings and FibraLink, providing additional geographic reach and redundancy to our service offerings for both New World's and Columbus' wholesale partners and end-user customers," continues Paddick.