AboveNet Optimizes and Protects Corporate Networks and Investments With Innovative Wave Services Solution

Company Leverages WDM Expertise to Offer Scalable, Reliable CWDM Package to Leading Mid-Sized Enterprises

NEW YORK, February 9, 2004 - AboveNet, Inc., the top provider of integrated access services to leading edge enterprises for premium networking power, today introduced a coarse wavelength division multiplexing (CWDM) services package. AboveNet's CWDM service provides optimal networking performance with clear economic advantages for leading mid-sized enterprises.

AboveNet's CWDM service bundles fiber with services specifically tailored to the enterprise's requirements for data, video or voice networking communications. Similar to the higher-end dense wavelength division multiplexing (DWDM) service for the global enterprise with intensive networking requirements, CWDM services provides equally reliable and efficient, yet flexible solutions, for enterprises. In addition, AboveNet's WDM services provide customers with an open platform that enables them to confidently architect a network that can be easily reconfigured to meet future needs.

"As enterprises and network managers continue to try and strike the balance between networking requirements and financial resources, AboveNet is proactively developing solutions that address immediate business needs, yet are flexible and scalable enough to support anticipated growth," said William G. LaPerch, President and Chief Operating Officer, AboveNet. "Our CWDM service is a cost-effective, robust solution that delivers premium networking power and impact for the leading mid-sized business facing such challenges."

Using CWDM, customers are able to take advantage of a more economic and efficient solution that meets their needs and allows them to deploy many of the same applications as Dense Wave customers These applications include:

• Storage Area Networks (SAN) - a secure and cost effective way to move data to a remote location for backup.
• Transparent LAN services - a cost-effective way to connect multiple LAN's in different locations without the expense associated with traditional telecom provisioning as bandwidth needs grow.
• Local Loop Bypass - AboveNet's WDM services are an alternative to traditional telecommunications services that charge on a metered basis.

AboveNet's CWDM service is a strategic complement to any business where heavy data, video or rich media files and transactions are continually shared, moved or stored within physical locations on the network, such as in financial, legal, media/entertainment, energy or pharmaceutical enterprises

About AboveNet, Inc.
AboveNet, Inc. is the leading provider of network infrastructure services that enable unconstrained information exchange within and between businesses. AboveNet builds and operates an office-to-office, 100-percent optical network enabling customers to create an efficient, cost-effective network that breaks economic and performance barriers imposed in the last mile by complex legacy telecom infrastructures. With one of the most extensive metropolitan optical network in the world, data centers throughout the US and Europe, top quality managed services and a high-performance IP network, AboveNet is able to offer the most flexible and complete information exchange solutions in the industry.

An aggressive and agile player in the industry, AboveNet provides security, performance, scalability and reliability in a wealth of interconnected services designed to facilitate information exchange. The Company's metropolitan fiber network provides the foundation for its offerings. This all optical metropolitan network, combined with AboveNet's portfolio of integrated solutions, enable enterprise customers to rise above legacy networks to create truly customized networks that enable the real-time information exchange when and how it is needed.

This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as are described from time to time in the SEC reports filed by Metromedia Fiber Network including the most recently filed Forms S-3, 10-K and 10-Q.