Global Broadband Inc. Hires Michael A. Sternberg as President and Chief Executive Officer.

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NEW YORK--(BUSINESS WIRE)--Feb. 15, 2001

Global Broadband, Inc., a facilities-based, Integrated Communications

Provider (ICP) of bundled voice and HyperSpeed Internet utilizing optical networking technology announced today it hired Michael A. Sternberg as President and Chief Executive Officer. Sternberg's primary responsibilities will be to build Global Broadband into a World Class service provider, to build Global's optical network into 26, Tier 1 markets over five years, and overall, to significantly grow shareholder value.

Sternberg is a senior telecommunications executive with more than 32 years of experience. Sternberg's most notable career accomplishments were at KMC and MFS. Under his leadership at KMC, the Company grew from FY97 revenues of $3 million to projected FY00 revenues of $180 million, raising more than $1.2 billion in the process through bank loans, vendor financing and equity financing. Sternberg built 42 city networks (switching, lightwave and fiber optics), and in total, and increased KMC's valuation from $6 million to $1.8 billion in three years. From 1987 to 1990, Sternberg was Executive Vice President of Metropolitan Fiber Systems (MFS), where he grew revenues from zero to $250 million in three years and built 15 major networks including New York, Los Angeles, Chicago and Dallas.

Global Broadband's Chairman of the Board Ben Scott said, "Mike Sternberg is a seasoned executive and a terrific leader. We are delighted to have him lead our firm. As we look to close our Series B round and beyond, Sternberg's demonstrated record of performance and his relationship with the financial community will prove to be significant factors in our success. I am confident you will now see Global grow very quickly in Manhattan and across the U.S."

Sternberg said, "Global represents an extremely exciting business opportunity using leading-edge optical solutions that deliver extraordinary economics. It is clear Global will rewrite the financial models that have dominated the telecom sector. Our execution will ensure our investors significant returns in time frames that have never been available in Tier 1 markets.

"I have found a great team at Global and our unique vision for major markets will prove a new and compelling paradigm," Sternberg said.

Sternberg's additional career accomplishments are outlined on Global Broadband's web site in the Global officer's section, http://www.globalbroadbandinc.com/officer_msg.html. Sternberg is a founder and Member of the Board of Directors of the North American Telephone Association. He was a Captain in the United States Army Special Forces from 1965 to 1969. He speaks six languages and studied Physics and Psychology at Hofstra College.

About Global Broadband

Global is the first integrated communications provider to leverage leading edge passive optical first mile technology to SMBs. Global's HyperSpeed data pipes (1 Mbps to 100 Mbps data speeds) create a migration path to support tomorrow's bandwidth intensive killer data applications. Global will initially serve customers in the metro New York City area and Boston, and will rapidly expand to 26 additional tier one markets.

For additional information, call Michelle Craft, Vice President Public Relations, 212-695-0824.

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