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Archive - October 2000 - October 18

( BW)(NY-METROMEDIA)(MFNX) Metromedia Fiber Network to Provide Optical Backbone for Datek Online

    NEW YORK--(BUSINESS WIRE)--Oct. 18, 2000--

10-Year Contract Provides Datek with Reliable, Scaleable and Secure Internet Infrastructure
    Metromedia Fiber Network, Inc. (MFN) (Nasdaq: MFNX), the leader in the deployment of optical IP Internet infrastructure within key metropolitan areas internationally, will provide Datek Online Holdings Corporation with a high-bandwidth fiber-optic backbone.

    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 http://www.mmfn.com/.

    This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as are described from time to time in the SEC reports filed by Metromedia Fiber Network, including the most recently filed Form S-3, 10-K and 10-Q.

--30--muj/ny* CONTACT: Media Relations: Metromedia Fiber Network Kara Carbone, 914/683-6386 kcarbone@mmfn.com or Gibbs & Soell, Inc. Gary J. Gatyas, Jr., 212/697-2600 ggatyas@gibbs-soell.com

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