October 16, 2008

CellularOne Invests in Turks & Caicos Telecommunications Company

Bermuda Digital Communications Ltd. (BDC), a subsidiary of Atlantic Tele-Network, Inc. (NASDAQ: ATNI), which operates in Bermuda under the CellularOne brand, today announces it has purchased a strategic stake in Islandcom Telecommunications, a Turks & Caicos-based company. With the investment, BDC becomes the lead strategic shareholder in the two-year old telecommunications company.

BDC will contribute its financial and strategic resources to strengthen Islandcom and develop it into a leading telecommunications company. Islandcom will use the capital investment to add cell sites that expand wireless coverage across the Turks & Caicos Islands and introduce agreements that will allow customers to roam when they are travelling outside the country. The transaction has been approved by the Turks & Caicos Telecommunications Commission.

Kurt Eve, CEO of BDC, says: "We are glad to have this opportunity to invest in Islandcom. The company has a good network and excellent staff in place and we plan to take this young, energetic business and help build on its success. We look forward to working with Islandcom CEO Chris Taylor, Managing Director Sandra Garland, Director Caesar Campbell and the rest of the Islandcom team."

Chris Taylor, CEO of Islandcom Telecommunications, says: "Islandcom welcomes Bermuda Digital Communications as a significant investor in our company. BDC brings a strong track record as one of the leading wireless telecommunications operators in Bermuda, both in its operational skills and its ability to gain market share in a competitive environment. Their expertise and their reputation for excellent customer service and network quality will be key factors in guiding Islandcom toward further growth."

Turks & Caicos Minister of Housing, Agriculture, Telecommunications and Works, the Hon. Jeffrey Hall, comments: "We are pleased to welcome Bermuda Digital Communications to the Turks & Caicos Islands. We appreciate their confidence in Islandcom and the Turks & Caicos Islands and look forward to watching the company grow." Interviews and photography available