Metromedia Fiber Network Acquires M.I.B.H. Inc.; Deployment of Global Optical IP Network Accelerates, Providing Scaleable Multi-Gigabit Internet Connectivity

Business Wire, Jan 19, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 19, 2000

Metromedia Fiber Network, Inc. (NASDAQ: MFNX), the leader in deployment of optical networking and Internet infrastructure within key metropolitan areas worldwide, has acquired M.I.B.H. Inc., a network outsourcing provider offering full-service management of business Internet connectivity solutions, for approximately $51 million in cash and Metromedia Fiber Network Class A Common Stock. The acquisition will enable Metromedia Fiber Network to accelerate the timeline for design and deployment of its global optical IP network. Under the terms of the agreement, MIBH will become a wholly-owned subsidiary of Metromedia Fiber Network. All of MIBH's professional employees, including its President, Paul Vixie, and its Chief Technology Officer, Stephen Stuart, will join Metromedia Fiber Network.

"The acquisition of MIBH, and the addition of Paul Vixie and Stephen Stuart to the management team, coupled with our acquisition last year of AboveNet Communications, has given Metromedia Fiber Network industry-leading IP expertise," said Nick Tanzi, President of Metromedia Fiber Network. "We have accelerated deployment of the industry's first end-to-end global optical IP network to meet the growing demand for high-capacity bandwidth for mission-critical and broadband applications. This fully optical network will allow us, for example, to deliver business content in real time from an office in New York to one in San Jose and another in London, or to deliver content-rich multimedia to millions of users simultaneously around the world."

Mr. Vixie will become the Senior Vice President for Network Services for Metromedia Fiber Network and AboveNet and Chief Technology Officer for PAIX, a subsidiary of Metromedia Fiber Network. He is one of the founders of Internet Software Consortium (ISC) and is known for ISC's work with BIND, the Domain Name Server (DNS) software that is at the core of the Internet and has been in use since its inception. Mr. Vixie is a founder of PAIX and has served as its consulting chief technology officer since PAIX's acquisition by AboveNet and Metromedia Fiber Network in 1999. Mr. Vixie will report directly to Dave Rand, Metromedia Fiber Network's Chief Technology Officer.

Mr. Stuart will become the Vice President of Internet Architecture for Metromedia Fiber Network and AboveNet. He spent over 12 years as a researcher for Digital Equipment Corporation where he was a founder of PAIX with Mr. Vixie. Mr. Stuart has been actively involved in many of the technologies and organizations that have become integral to the Internet, including IPv6, wireless networking, multicasting and NANOG (North American Network Operators Group). Mr. Stuart will report directly to Mr. Vixie.

The employees of MIBH are recognized as experts in the field of IP networking. Several members of the MIBH team have more than twenty years of experience building networks, and most of the staff has been involved in the design and deployment of the Internet for more than 10 years. MIBH staff members have also aided in the development of some of the leading networks in use today, including those of Sprint, UUNET and Verio. Additional members of the MIBH staff who will be joining AboveNet include Tom Patterson, Joseph Malcolm, Andrew Partan, Brett Watson, David Hankins, Brad Horak and Hank Kilmer.

"Joining MFN will allow us to participate in the creation of one of the most exciting networks of the future," Mr. Vixie said. "AboveNet already has a reputation for delivering the best network performance and reliability on the Internet. We are privileged to be a part of this team and look forward to the challenge of designing and deploying the first global, end-to-end optical IP network."

About Metromedia Fiber Network

Metromedia Fiber Network, the leading provider of optical networking and Internet infrastructure, is revolutionizing the fiber optic industry. By offering virtually unlimited, unmetered bandwidth at a fixed cost within key metropolitan areas, the Company is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Metromedia Fiber Network is extending metropolitan optical networking infrastructure to the end user in strategic top-tier markets, enabling its customers to implement the latest data, video, Internet and multimedia applications. In addition to its current expansion in 51 cities in North America, Metromedia Fiber Network is establishing an international presence with planned fiber optic network builds in 16 cities throughout Europe.

Together with its subsidiaries, AboveNet Communications, Inc., a leading provider of co-location and Internet connectivity solutions, and PAIX.net, Inc., the leading neutral Internet Exchange, Metromedia Fiber Network is unleashing the full potential of the Internet. The combined company facilitates the explosive growth of e-commerce and advanced Internet applications by delivering secure, reliable and scalable optical networks and IP services to Internet content and service providers, carriers and enterprise users worldwide. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.