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Looking Glass Networks Achieves Financial Milestone

Posted on: Thursday, 27 May 2004, 06:00 CDT

Oak Brook, Ill., May 27 /PRNewswire/ -- Looking Glass(R) Networks, Inc., a facilities-based provider of metropolitan telecommunication transport services, announced today that the company's operating results were Adjusted EBITDA positive, after excluding certain non-cash charges in the first quarter. Looking Glass' first quarter 2004 recurring revenue also increased over 60% from the same period in 2003.

By owning physically diverse fiber networks, electronics and facilities, the company has been able to sustain impressive revenue growth and profit margins with controlled operating expenses. Looking Glass interconnects with more than 133 carriers, has over 650 points of presence, 400 on-net buildings and 860 Type II buildings.

"As a true facilities-based provider, Looking Glass leverages its networks to offer a wide range of traditional and newly emerging services rapidly and cost effectively," said Lynn Refer, CEO Looking Glass Networks. "Customers appreciate the value this flexibility provides."

Despite the slow recovery of the telecommunications industry, Looking Glass has acquired a large number of new customers and penetrated deeper into existing accounts. The company now has over 250 customers including enterprises, media companies, content providers, educational institutions, government agencies, international and wireless carriers, domestic long haul and local carriers. The services Looking Glass provides to its customers are as diverse as the customers themselves. The company's services include SONET/SDH, Wavelength, Ethernet, Collocation, Dark Fiber and Design and Construction. Looking Glass' lit service speeds range from 1.5 megabits to 10 gigabits.

"Looking Glass has achieved profitable operations during one of the most difficult periods in the history of telecommunications," said Refer. "We're proud of our accomplishments and optimistic about what the future holds for us and the telecommunications industry."

About Looking Glass Networks

Looking Glass Networks, Inc. provides rapid delivery of SONET/SDH, Wavelength and Ethernet-based lit services, high-capacity dark fiber and carrier-neutral collocation services in addition to custom design and build services for carrier and enterprise customers. A facilities-based company, Looking Glass builds, owns and operates metropolitan fiber optic networks using the most flexible optical and operational support systems available to provide telecommunication transport services in the largest U.S. metro areas including Atlanta, Baltimore, Chicago, Dallas, Houston, Los Angeles, New York/Northern New Jersey, Philadelphia, San Francisco, San Jose, Seattle, and Washington D.C./Northern Virginia. Looking Glass' physically diverse networks provide customers with connections to primary carrier hotels, ILEC Central Offices, key enterprise buildings and other major data aggregation facilities. With its unique protocol "agnostic" platform, Looking Glass delivers focused local network connectivity, flexible service options and fast delivery times to customers with significant bandwidth needs. For more information on Looking Glass Networks, visit http://www.lglass.net/ .

Looking Glass Networks, Inc.

CONTACT: Jodi Caro of Looking Glass Networks, +1-630-242-2015,jodi.caro@lglass.net

Web site: http://www.lglass.net/

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