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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About euNetworks

euNetworks is a bandwidth infrastructure company, owning and operating 17 fibre based metropolitan networks connected with a high capacity intercity backbone covering 51 cities in 15 countries. The company leads the market in data centre connectivity, directly connecting over 440 today. euNetworks is also a leading cloud connectivity provider, directly connecting to all key cloud platforms with access to additional platforms. The company offers a targeted portfolio of metropolitan and long haul services including Dark Fibre, Wavelengths, and Ethernet. Wholesale, finance, content, media, data centre and enterprise customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.