Atlantic Tele-Network, Inc. Announces Subsidiary Renews Operating Agreement with MCI International

Business Wire, June 8, 2001

Business Editors

ST. THOMAS, U.S. Virgin Islands--(BUSINESS WIRE)--June 8, 2001

Atlantic Tele-Network, Inc. (AMEX:ANK), announced today that its principal subsidiary, the Guyana Telephone & Telegraph Company, Ltd. ("GT&T"), has executed a new operating agreement with MCI International, Inc. a subsidiary of Worldcom, Inc. The agreement is for an initial term of one year from date of execution and continues thereafter unless terminated by either party with at least six months advance written notice. The agreement continues the current 85 cents per minute settlement rate for traffic between the United States and Guyana until December 31, 2001 and provides that the parties will thereafter negotiate a new rate in compliance with the FCC's "Benchmark Order" or any subsequent FCC orders. The FCC's Benchmark Order is presently scheduled to reduce the rate to 23 cents per minute for U.S.-Guyana traffic on January 1, 2002.

Cornelius B. Prior, Jr., Chairman and Chief Executive Officer of Atlantic Tele-Network, Inc., said, "We are pleased at the renewal of GT&T's operating agreement with MCI International, Inc. and we continue our discussions with AT&T to reopen circuits closed by AT&T on December 31, 1999. We are also negotiating with Sprint and other international carriers to open direct circuits between GT&T and the United States. GT&T's international traffic continues to grow strongly."

Atlantic Tele-Network, Inc. is a telecommunications company with headquarters in St. Thomas, U.S. Virgin Islands. Its principal subsidiary, Guyana Telephone and Telegraph Company, Limited, is the national telephone service provider in the Cooperative Republic of Guyana for all local, long-distance and international service. ATN owns Wireless World, LLC, the largest internet service provider in the United States Virgin Islands which also provides wireless TV service using MMDS technology. ATN also owns Atlantic Tele-Center, Inc., which is currently developing a Web-enabled outsourcing call center in Guyana to provide customer support to companies serving the U.S. and other markets. ATN has an 80% interest in ATN (Haiti) S.A., which provides dispatch radio, wireless data network and paging services in Haiti and 6% of Bermuda Digital Communications Ltd., which operates under the name "Cellular One" and is the sole cellular and PCS competitor to the Bermuda Telephone Company.