AboveNet Opens Access to Its Optical Network in All Major Markets

POP to POP Fiber Connectivity Gives Carriers New Path to Bypass Local Loop AboveNet CWDM services NOW available Globally

NEW YORK, October 7, 2004 – AboveNet, Inc., a premier metro network access provider for businesses, launched a major new initiative to enable telecom carriers to have immediate nationwide access to its optical infrastructure. As a result, any telecom carrier will have a significant new option that enables them to bypass the local loop and provide an array of advanced services.

AboveNet’s Open Optics Initiative will extend its network via lit fiber links to major enterprises and buildings in each of its major markets, creating direct connectivity to top carrier hotels, data centers, and high-traffic POPS in North America. These links will be available for readily accessible interfaces, such as Fast Ethernet, DS3 and OC-n, to enable carriers to quickly add services for their customers that will be delivered by AboveNet. As a result, carriers can instantly extend the reach of their networks at a fraction of the price of using the ILECs’ local loops.

“One of the biggest issues for carriers is extending the reach of their infrastructure to reach enterprise customers and deliver their services in key metro areas,” said Bill LaPerch, president and chief executive officer of AboveNet . “By leveraging AboveNet’s metro network, they can quickly expand their reach, drive revenue, and grow the services they offer in virtually all of the major metros. Until now, the market has been held back by uncertainty around unbundled network elements (UNE), which has left carriers with very limited choices. Now, AboveNet is providing a cost-effective alternative to using Bell facilities at tariff rates.”

AboveNet’s open network approach provides carriers with key benefits that include:

• Immediate access to key markets through on-network buildings and target customers with AboveNet’s IP backbone and private wavelength services.
• Services flexibility to deliver a range of offerings, including OC-n , DS3, Fast Ethernet, Gig-Ethernet.
• Optimized execution to groom network traffic and accommodate any enterprise need.

About AboveNet, Inc.
AboveNet, Inc. is a premier metro network access provider for 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 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.

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 the Company including the most recently filed Forms S-3, 10-K, 10-Q and 8-K-.