Moody's Raises Infonet Debt Ratings; Strength of Capital Structure and Financial Performance of the Company Are Cited

Business Wire, June 26, 2001

Business Editors & High-Tech Writers

EL SEGUNDO, Calif.--(BUSINESS WIRE)--June 26, 2001

Infonet Services Corp. (NYSE:IN) (FSE:IN) today announced that Moody's Investors Service has raised the ratings on the company's senior secured debt to Ba2 from Ba3. Moody's also raised the company's implied rating to Ba2 from Ba3 and its issuer rating to Ba3 from B2.

"We have always seen ourselves standing apart from the traditional telecom carriers," said Jose A. Collazo, Infonet's chairman, president and chief executive officer. "Given the intense focus on the financial challenges facing the telecom industry, it is important to understand that Infonet delivers value-added networking services, not basic carrier services.

"With approximately $600 million in cash at year-end March 31, 2001, we are fully funded and poised to execute our long-term strategic plan. The action by Moody's is gratifying, as it is a reaffirmation of our strong financial position by an objective third party."

The ratings upgrades, according to Moody's, were based on Infonet's financial performance, capital structure and its established customer base. Moody's also said the positive outlook reflected "a belief that Infonet will improve its margins over the intermediate term," and that the ratings outlook was positive.

About Infonet

Infonet Services Corp. is an innovative leader in providing value-added global communications services to multinational entities. Powering the enterprisewide communications initiatives of more than 2,600 multinationals, Infonet provides a comprehensive portfolio of network-based solutions including Broadband, Internet, Intranet, Multimedia, Remote Access, Local Access and Application Services (Call Center, Collaboration, Messaging and Hosting).

Infonet is a pioneer in providing multinationals with "The Intelligent Edge in Global Communications(TM)" -- a unique service based on its patent-pending tools that models and optimizes the complex relationship between applications and the global network.

Winner of the World Communication Awards 2000 for "Best Customer Care" and "Best Carrier," Infonet owns and operates The World Network(R), accessible from more than 180 countries, and provides local service support in more than 60 countries and territories.

Founded in 1970, Infonet's stock is traded on the New York and Frankfurt Stock Exchanges under the symbol "IN." Additional information about the company is available at www.infonet.com.

Safe-Harbor Statement

Infonet has made forward-looking statements in this release. These projections are based on information available to the company as of the date of this release, and Infonet undertakes no duty to update the information to take account of later events. Risk factors investors should take into account that might affect results include: strength of the market for Infonet products and services; competition; the timely transitioning of new business opportunities to Infonet's network; and the effect of currency fluctuation. Investors should refer to risk factors elaborated on in Infonet's 10-K, 10-Qs and other recent filings made with the U.S. Securities and Exchange Commission. These documents are available through the investor relations portion of Infonet's Web site at www.infonet.com.

Infonet will file its FY 2001 10-K on June 27, 2001. It will be available through www.sec.gov, which can be accessed through Infonet's investor relations site at www.infonet.com.