Company Owns and Operates One of Europe's Most Dense, Pervasive Networks - Providing Quality Alternative to KPN/Qwest Sales Executive Appointed to Lead U.S. Sales and Marketing Efforts

LamdaNet Group, a subsidiary of LNG Holdings SA, today announced plans to market its extensive network reach, broadband capacity and carrier services experience to U.S. telecommunications companies. The company will target U.S. carriers that either have gaps in their own European coverage or do not have a European network - yet have multi-national customers with operations in Europe.

LambdaNet Group operates one of the most dense, pervasive fiber optic networks in Europe (22,000 km) with a footprint that extends to 104 cities in 10 countries, servicing more than 170 telecommunications customers. The LambdaNet network is fully operational in Germany (23 cities), France (17 cities) and Spain (56 cities) with several connections to major cities such as London, Brussels, Amsterdam, Lisbon and Copenhagen and Vienna. Prague will soon be integrated into the network.

The LambdaNet network is ranked among the top 3 networks in Europe with dense footprints especially in Germany, France and Spain. Its European customer base is stable, serving a broad range of telecommunications operators (telcos, voice/access, mobile, ISP, ASP and CATV) including Vodaphone D2, Cable & Wireless and Telia. In recent days, LambdaNet has acquired more than 20 KPN/Qwest customers who were facing possible network loss as a result of that company's bankruptcy filing. LambdaNet - known for superior customer service - was able to implement many network replacement connections within a few minutes and entire networks in a few days.

"We are singularly focused on becoming the leading carrier services operations in Europe and around the globe," said Bernie Smedley, Chairman and CEO of LNG Holdings SA. "We have assembled a compelling set of advantages over our competitors: an extensive, fully built-out fiber optic network; revenues that have doubled year-over-year; strong backing from our bankers, suppliers, and vendors; and an experienced management team." U.S. Presence

Alex Keiserman has been appointed Vice President of Sales and Marketing for the Americas. Keiserman brings experience and understanding of the US and European marketplace having held senior positions with Storm Telecommunications, Extant (currently Dynegy) and MCI WorldCom. He is responsible for all sales outreach efforts and for extending the Lambdanet brand to the U.S., Canadian and Latin American markets.

"I'm very pleased to be leading sales and marketing efforts for LambdNet Group in the Americas" said Alex Keiserman. "In less than three years, LambdaNet has emerged as a leading brand and supplier of network-level communications services in Europe. For telecommunications carriers, ISPs and other network providers seeking technical excellence, affordability, and customer-focused service, LambdaNet will become the European partner of choice." Added Smedley, "Establishing a presence in one of the world's most important telecom markets is a pivotal step in our overall strategic plan to build a premier company and brand. Through disciplined capital deployment, prudent cost-cutting measures and a cautious view of the marketplace, we have been able to weather the volatile environment currently gripping the industry. With the addition of Alex to our team, we look forward to establishing long-standing relationships with North and Latin American carriers seeking a reputable partner with an extensive network footprint in the European market." About LNG Holdings SA

LNG Holdings SA has its headquarters in Luxembourg. The company - including its Hannover-based LambdaNet Group - employs more than 250 people in Europe, with the majority of employees in Germany, France and Spain. About the LambdaNet Network

Connecting key European data centers and 104 cities in 10 countries, LambdaNet's 22,000-kilometer fiber and IP network is one of th emost powerful and closely woven networks in Europe, servicing more than 170 customers. Additionally, LambdaNet operates Metropolitan Area Networks (MANs) in eight European centers of business, including Paris, London, Amsterdam, Madrid, Vienna, Frankfurt, Dusseldorf and Hamburg.

The LambdaNet Group had positive financial results in 2000 and also in 2001, despite mid-year start-up operations in France and Spain and the current market conditions.

LambdaNet Group offers traditional transport services (wavelength, bandwidth and collocation services) and delivers higher value services that include advanced IP transport (IP Transit, Virtual Private Networks). ots Original Text Service: LambdaNet Group Internet: CONTACTS U.S.: Marianne Steiner: 518 537 5592 EUROPE: Katharina Siebert +49 511 84 88 1120

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