euNetworks Closes its Acquisition of LambdaNet Communications Deutschland AG

London, UNITED KINGDOM – 31 May 2011 – euNetworks GmbH, a subsidiary of euNetworks Group Limited, announced today that it has closed its previously announced transaction to purchase LambdaNet Communications Deutschland AG.

Combined, euNetworks and LambdaNet will manage fibre based connectivity to 37 cities in 9 countries. This longhaul connectivity combined with the fibre based metropolitan networks in operation today, supports the growing high-bandwidth needs of its customers.

The combined people, network reach, depth and capability brings greater scale opportunities for euNetworks. The cash flow will enable further deployment of custom fibre-based network solutions across Western Europe in line with demand.

“We are moving forward with our integration plans, working quickly to deliver network synergies from combining the LambdaNet business with euNetworks,” said Brady Rafuse, Chief Executive Officer of euNetworks. “With added on-net reach and an expanded product portfolio, customers will benefit from deeper and richer solutions from euNetworks. I am excited for the opportunity ahead.”

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