Arbinet-thexchange Names J. Curt Hockemeier Chief Executive Officer;
Anthony L. Craig, Executive Chairman
NEW YORK – August 23, 2000 – Arbinet-thexchange, the full-service trading solution for
buyers and sellers of telephony bandwidth, today announced that J. Curt Hockemeier has been appointed
President and Chief Executive Officer with overall responsibility for the company’s activities.
Mr. Hockemeier has served as President and COO of Arbinet-thexchange since joining
the company in April of this year. Anthony L. Craig, Arbinet-thexchange Chairman
of the Board, assumes the title of Executive Chairman, which reflects his ongoing management oversight
of the company’s strategic direction in this rapidly emerging sector.
“The anticipated promotion of Curt Hockemeier reflects the rapid manner in which he has assumed the
leadership role,” stated Anthony L. Craig, Arbinet-thexchange Executive Chairman.
“Our membership, and thexchange are developing very rapidly and this move reflects
the board’s confidence in Curt, and frees me up to concentrate on our growth strategy and partnerships.”
Prior to joining Arbinet, Mr. Hockemeier was executive vice president and chief operating officer,
Telephony Operations, AT&T; Broadband (NYSE: T), where he was responsible for the rollout of telephony
service over AT&T;’s broadband cable network. Mr. Hockemeier joined AT&T; with the acquisition of Teleport
Communications Group (TCG), where he managed the company’s partnerships and network deployment in new
markets. Mr. Craig is a 30-year technology industry veteran and has held senior executive positions at
Digital, Oracle, Prime Computer, GE and IBM.
“I joined Arbinet-thexchange because the company offers the only full-service bandwidth
trading solution in the market,” stated Curt Hockemeier, Arbinet-thexchange Chief Executive
Officer and President. “Because we dynamically integrate trading, delivery and settlement, we deliver the
best economic value proposition to our Members. In the three and a half months since I joined thexchange,
we have doubled our active membership to over 60. We are at the forefront of changes that I expect will
provide massive efficiency gains in the communications industry.”
Arbinet-thexchange is the full-service, online exchange for on-demand transactions,
automated physical delivery and settlement of trades of telephony bandwidth. Thexchange
is neutral, favoring neither buyers nor sellers, and allows participants to trade anonymously.
Automated delivery is accomplished by employing advanced trading software and a set of
patented processes to link the web-based trading platform with carrier-grade
telecommunications switching equipment. Arbinet-thexchange handles all invoicing,
collection and payment for trades effected on its exchange and provides continuous
monitoring and online rating of the service quality of each seller’ s network.
Arbinet-thexchange estimates the total global market for telephony bandwidth measured in
minutes at $706 Billion in 2000. This market is characterized by both falling prices and a
high level of SG&A; expense, which at 25% of revenues is 9% higher than the U.S. corporate
average. Use of Arbinet-thexchange’s full-service, automated trading solution helps
members cut costs and maintain profitability by providing the opportunity to generate
incremental revenues, as well as lowering the cost, risk and transaction time of required to
complete transactions for telephony bandwidth. For more information, visit Arbinet-thexchange
120 Albany St. Tower II, Suite 450, New Brunswick, NJ
phone: 732-509-9100, fax: 732-509-9101, website: www.arbinet.com