Media Contact:
Mike Mansour
Tel: ++961-1-799996 ext. 113
mmansour@fiberlinknetworks.net

Beirut, Lebanon - October 23rd 2000. FIBERLINK Networks, Regional ISP enters the Lebanese ISP Market through the acquisition of PSINet (Lebanon).

FIBERLINK Networks, a subsidiary of Fiberlink Communications International, Inc. enters the Lebanese ISP Market through the acquisition of PSINet Lebanon (formerly a subsidiary of PSINet Inc. NASDAQ: PSIX), a leading Internet Service Provider in Lebanon. In connection with the above, PSINet Lebanon’s name will change to FIBERLINK Networks.

FIBERLINK Networks will endeavor to become a major Regional ISP in the Middle East and North Africa (MENA) Region. Its first acquisition in Lebanon is only the first of many acquisitions and partnerships to penetrate the region. This move gives Fiberlink a strong, stable, talented and aggressive management team, which will serve as the launching pad for further expansion into the rapidly growing MENA region.

"PSINet Lebanon moved within 10 months to rank as the # 2 Corporate ISP in Lebanon", said Imad Tarabay, former Vice President of PSINet MENA " current Chairman & CEO of FIBERLINK Networks. "The participation of Fiberlink Communications International and other off-shore Venture Capitalists will certainly enhance our work in Lebanon and the region". "We maintain strong ties with PSINet, making use of PSINet’s IP expertise, Global Hosting Centers, Global Fiber Network. This will give us a competitive edge over our local & regional competitors", said Tarabay.

"FIBERLINK Networks has been enriched with an additional capital injection of 1 Billion LP, reaching a total of 2 Billion LP. This capital increase shall be used to fuel the near-term growth, creating a new SBU that will offer innovative IP solutions, increasing the international bandwidth, hiring and training new employees, etc." said Raed Rayes, General Manager of Fiberlink.

"FIBERLINK will be offering new products and services that meet the country’s immediate and future telecommunication needs, keeping the same high QoS our customers have been long used to. We will achieve that through our fiber optic frame relay network topology linking Lebanon to North America" said Mike Mansour, Marketing Manager of Fiberlink. "Also, we will continue to sell PSINet’s high-end products to the Lebanese market."

Headquarter in Beirut; Fiberlink Networks serves both Corporate and Consumer markets in Lebanon. Fiberlink Communications International Inc., Venture Capitalists and senior management investors own Fiberlink Networks. Fiberlink offers a wide variety of corporate oriented Internet solutions, including dedicated and shared access, dialup, Intranet, VPN, e-commerce, multimedia, streaming, etc. Additional information about FIBERLINK Networks is available on www.fiberlinknetworks.net or by e-mail at info@fiberlinknetworks.net or by calling ++961-1-799996.