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 Contact:

Kenny Wan 852.9020.4177 kwan@arbinet.com

Arbinet Signs Agreement with HKCOLO

Launches New Arbinet Enabled^SM Program and Expands Commercial Opportunities for HKCOLO Tenants

New Brunswick, NJ - November 2, 2004 - Arbinet, the leading electronic marketplace for communications trading, announced today an agreement with HKCOLO, the first and the largest neutral co-location provider in Hong Kong, to provide access for HKCOLO customers to trade voice on thexchange. HKCOLO is now Arbinet Enabled^SM, offering its customers rapid, cost-effective connectivity to the voice trading platform and more than 335 Member carriers.

"As a result of this agreement, HKCOLO tenant carriers can benefit from a single connection to the world and an automated, fully integrated trading, routing and settlement solution,"says Kenny Wan, head of strategic sales, Asia for Arbinet. "We believe trading voice on thexchange allows Members to improve profitability and cash flow by reducing their numbers of interconnections, reducing selling, legal, billing and collection expenses and eliminating disputes and bad debt."

"Tenants of HKCOLO can now reach Arbinet with a simple cross-connect, join and begin trading immediately,"says Mr. SH Cheng, CEO of HKCOLO. "We are thrilled to expand opportunities for our customers to grow their businesses through thexchange."

About Arbinet
Arbinet is the leading electronic market for trading, routing and settling communications capacity. Members of the exchange, consisting primarily of communications service providers, anonymously buy and sell voice calls and Internet capacity based on route quality and price through its centralized, efficient and liquid marketplace. Members place orders through a web-based interface. Its fully-automated, highly-scalable trading platform matches these orders using proprietary software and delivers them through state-of-the-art facilities. Learn more about Arbinet at www.arbinet.com.

About HKCOLO
HKCOLO, serving 160+ carriers, is a leading neutral colocation services provider in China, Asia and Hong Kong. It has evolved over the years as a place where Chinese carriers, Asian carriers, European carriers and American carriers come together for interconnection. HKCOLO is located in Sino Favor Center and operates a 50,000 square foot colocation center. HKCOLO facilities are serving a wealth of voice carriers and more lately VoIP carriers and ISPs. HKCOLO services can be viewed at www.hkcolo.com.

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