MFN will lease fiber-optic infrastructure to Datek for 10 years, enabling Datek to connect its data and trading facilities throughout the New York and New Jersey metropolitan areas. MFN's unmetered, fixed cost bandwidth solution will allow Datek to add capacity as needed in order to meet increased trading volume and demand, as well as its mission-critical business applications. Through this agreement, Datek will have its own dedicated and unshared private communications network that is scaleable, secure and reliable.

"The Internet has brought investing to the threshold of a new era -- an era that Datek has helped create by making online trading accessible to all investors, day or night," said Nick Tanzi, president and chief operating officer of Metromedia Fiber Network. "Through MFN's optical Internet, online brokerage firms gain the required bandwidth to execute secure trades faster and more reliably during peak trading periods."

Rolando Garcia, vice president of networking, Datek Online Holdings Corp., said, "The implementation of Metromedia's dark fiber capabilities has positioned our network to serve our rapidly growing customer base."

About Datek Online Holdings Corp
Established in 1998, privately held Datek Online Holdings Corp. is one of the fastest growing financial services companies in the United States and provides direct access to financial services through innovative technology. The Company's primary businesses include Datek Online Brokerage Services LLC, a pioneer in the online brokerage industry.

About Metromedia Fiber Network
Metromedia Fiber Network, Inc., the leading provider of end-to-end optical network solutions, is revolutionizing the fiber-optic industry. By offering virtually unlimited, unmetered bandwidth at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Metromedia Fiber Network is extending metropolitan fiber-optic infrastructure to the end user in strategic top-tier markets, enabling its customers to implement the latest data, video, Internet and multimedia applications. In addition to its current expansion in 51 cities in North America, Metromedia Fiber Network is establishing an international presence with planned fiber-optic network builds in 16 cities throughout Europe.

Together with its subsidiaries, AboveNet Communications, Inc., a leading provider of co-location and Internet connectivity solutions, and Paix.net, Inc., the leading neutral Internet Exchange, Metromedia Fiber Network is unleashing the full potential of the Internet. The combined company facilitates the explosive growth of e-commerce and advanced Internet applications by delivering secure, reliable and scalable optical networks and IP services to Internet content and service providers, carriers and enterprise users worldwide. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.

About MFN
MFN is the leading provider of digital communications infrastructure solutions. The Company combines the most extensive metropolitan area fiber network with a global optical IP network, state-of-the-art data centers and award winning managed services to deliver fully integrated, outsourced communications solutions to Global 2000 companies. The all-fiber infrastructure enables MFN customers to share vast amounts of information internally and externally over private networks and a global IP backbone, creating collaborative businesses that communicate at the speed of light.

Customers can take advantage of MFN's complete, end-to-end solution or select individual components to complement their existing infrastructures. By leasing MFN's metropolitan and regional fiber, customers can create their own, private optical network with virtually unlimited, un-metered bandwidth at a fixed fee. For more reliable, secure and high- performance Internet connectivity, customers can use MFN's private IP network to communicate globally without ever touching the public-switched network. Moreover, MFN's comprehensive managed services enable companies to create a world-class Internet presence, optimize complex sites and private optical networks, and transform legacy applications, all with a single point of contact.

One network. One infrastructure. One source.

For more information on MFN, please visit our Web site at http://www.mfn.com/.