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  STC Associates
  Lane Buschel
  212-725-1900 ext. 205
  [email protected]

FOR IMMEDIATE RELEASE

NEW YORK – April 9, 2001 – Arbinet-thexchange, the full service trading solution for buyers and sellers of telephony bandwidth, has appointed Subodh Nayar senior vice president, business development.

“The accelerating adoption of our exchange model has reached critical mass. This momentum, combined with the tough current market conditions in the telecom sector, have spurred an increasing number of members to ask us for ways they can integrate our automated wholesale distribution mechanism more closely into their operations,” comments Arbinet-thexchange President & CEO Curt Hockemeier. “We brought Subodh on to spearhead this effort.”

Mr. Nayar was formerly vice president and chief operating officer of BellSouth International Access. In his new position, he will develop products and services that offer ways to extend the value of automated market trading of wholesale capacity into member operations. For example, information products from thexchange can address current market intelligence and order execution hurdles that hinder members’ wholesale trading businesses today.

“As members ramp up their activity on thexchange, they begin to identify additional enhancements and services that would help make their lives easier,” relates Mr. Nayar. “I formerly managed the wholesale business for a tier one carrier, and recognized early on the potential efficiencies created by thexchange’s model. My role here is to expand our service to create as much value as possible for our members, removing obstacles that frustrated me in my last position.”

About Arbinet-thexchange

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 required to complete transactions for telephony bandwidth. For more information, visit Arbinet-thexchange at www.thexchange.com.