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Arbinet Names Anthony L. Craig Chairman and CEO

Leading B-to-B telecom Exchange names industry veteran to Chief Executive position following $30 million second-round financing

NEW YORK — December 20, 1999 — Arbinet Communications, Inc. — the world’s premiere exchange for trading and delivering telecommunications capacity — announced today that Anthony L. Craig has been named the company’s Chairman of the Board, President, and Chief Executive Officer. Alex Mashinsky, the founder of Arbinet will assume the title of Vice-Chairman. The announcement follows the second-round private equity financing in which Arbinet raised $30.45 million from leading institutional investors including JP Morgan, Chase Capital, and BancBoston Ventures.

A 33-year technology veteran, Mr. Craig has extensive experience in communications services, international sales, and building world-class information technology infrastructures. He began his career at IBM Corporation where he started as a systems engineer and became Director of Alternate Channels Marketing. He was a GE Vice President, and President and CEO of GE Information Services from 1983 to 1988, successfully repositioning the value-added network services provider and growing revenues to $500 million. He served as President and CEO of Prime Computer, and subsequently as Senior VP of Oracle Corporation, and Vice President at Digital Equipment Corporation. From 1996 to 1998, Mr. Craig served as President and CEO of Global Knowledge Network, creating a world wide learning services company from assets acquired from Digital Equipment Corporation. He currently serves as a director on the boards of Global Knowledge Network, Mitel Corporation (TSE/NYSE), and Bell Industries Inc. (NYSE).

“Tony is a tremendous addition to our team and we look forward to his continued leadership in building Arbinet into the dominant global Exchange for trading and delivering telecommunications capacity,” stated Alex Mashinsky, founder and former Chairman of Arbinet. “Tony has led and built world-class communications and services companies and he will bring invaluable experience and credibility to Arbinet as we move into our next phase of development”

“The Arbinet exchange proposition has the potential to forever change the way telecommunications services are bought and sold,” concluded Anthony Craig, Arbinet’s new CEO. “Arbinet’s value proposition for both buyers and sellers of communications services is overwhelming. The company has a significant technology advantage, patent portfolio, and a proven track record managing world-class communications networks. Along with an outstanding group of investors, I am very excited to have the opportunity to lead Arbinet into what will be a dynamic period for both the company and the entire telecommunications industry in the years ahead.”

About Arbinet

The Arbinet Global Clearing NetworkTM (AGCNTM) provides telephone service providers with real-time authentication, risk authorization, least cost routing, call placement, and settlement, on a transaction-by-transaction basis — allowing carriers to access the best rates and routing options without having to negotiate, contract, and interconnect separately with each supplier. AGCN members post for sale or purchase any capacity to any destination worldwide and attach specific parameters to define the quality conditions under which such trades are authorized. The AGCN then automatically matches available routes on a call-by-call basis, assuring carriers the lowest prices and highest quality available on the spot market. Arbinet is presently clearing and settling minutes for all types of communications companies including Internet Telephony service providers and a growing number of the world’ s major carriers. Founded in 1994, the company has 52 employees and is headquartered alongside NASDAQ at 33 Whitehall Street in New York City with satellite offices in Florida, Tokyo and Hong Kong. (

120 Albany St. Tower II, Suite 450, New Brunswick, NJ 08901
phone: 732-509-9100, fax: 732-509-9101, website:

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