GlobalNet Expects to Be EBITDA Positive in Second Quarter

Apr 11, 2001, 01:00 ET from GlobalNet, Inc.

    LOMBARD, Ill., April 11 /PRNewswire/ -- GlobalNet, Inc. (Nasdaq: GBNE), a
 leading provider of international voice, data and Internet services over a
 private, managed Internet Protocol (IP) network, today announced that it
 anticipates becoming EBITDA positive (excluding non-cash stock compensation
 and extraordinary items) in the second quarter of 2001, one quarter before it
 had previously announced.
     "Based on the preliminary results for the first quarter, it looks like we
 will become EBITDA positive earlier than expected," said GlobalNet's Chairman
 and Chief Executive Officer Robert J. Donahue.  "Our strategy has shifted from
 'pure' revenue growth to increased margins and profitability, since we believe
 that this is what the market demands and, therefore, rewards."
     GlobalNet announced April 10 that it had secured $6 million of additional
 financing from an existing shareholder.
 
     About GlobalNet
     GlobalNet, Inc. provides international voice, data and Internet services
 over a private IP network to international carriers and other communication
 service providers in the United States and Latin America.  GlobalNet's
 state-of-the-art IP network, utilizing the convergence of voice and data
 networking, offers customers economical pricing, global reach and an
 intelligent platform that guarantees fast delivery of value-added services and
 applications.  The Company, through its facilities in the U.S. and Latin
 America and arrangements with affiliates worldwide, can carry traffic to more
 than 240 countries.
 
     Safe Harbor Statement
     Forward-looking statements and comments in this news release are made
 pursuant to the safe harbor provisions of the Securities and Exchange
 Commission Act of 1934.  Certain statements, which describe the Company's
 intentions, expectations or predictions, are forward-looking and are subject
 to important risks and uncertainties.  The results or events predicted in
 these statements may differ materially from actual results or events.  Factors
 which could cause results or events to differ from current expectations
 include, among other things: the impact of rapid technological and market
 change; general industry and market conditions and growth rates; international
 growth and global economic conditions, particularly in emerging markets and
 including interest rates and currency exchange rate fluctuations; and the
 impact of consolidation in the technology industry.  These risks may further
 be discussed in periodic reports and registration statements to be filed by
 the company from time to time with the SEC.
 
 

SOURCE GlobalNet, Inc.
    LOMBARD, Ill., April 11 /PRNewswire/ -- GlobalNet, Inc. (Nasdaq: GBNE), a
 leading provider of international voice, data and Internet services over a
 private, managed Internet Protocol (IP) network, today announced that it
 anticipates becoming EBITDA positive (excluding non-cash stock compensation
 and extraordinary items) in the second quarter of 2001, one quarter before it
 had previously announced.
     "Based on the preliminary results for the first quarter, it looks like we
 will become EBITDA positive earlier than expected," said GlobalNet's Chairman
 and Chief Executive Officer Robert J. Donahue.  "Our strategy has shifted from
 'pure' revenue growth to increased margins and profitability, since we believe
 that this is what the market demands and, therefore, rewards."
     GlobalNet announced April 10 that it had secured $6 million of additional
 financing from an existing shareholder.
 
     About GlobalNet
     GlobalNet, Inc. provides international voice, data and Internet services
 over a private IP network to international carriers and other communication
 service providers in the United States and Latin America.  GlobalNet's
 state-of-the-art IP network, utilizing the convergence of voice and data
 networking, offers customers economical pricing, global reach and an
 intelligent platform that guarantees fast delivery of value-added services and
 applications.  The Company, through its facilities in the U.S. and Latin
 America and arrangements with affiliates worldwide, can carry traffic to more
 than 240 countries.
 
     Safe Harbor Statement
     Forward-looking statements and comments in this news release are made
 pursuant to the safe harbor provisions of the Securities and Exchange
 Commission Act of 1934.  Certain statements, which describe the Company's
 intentions, expectations or predictions, are forward-looking and are subject
 to important risks and uncertainties.  The results or events predicted in
 these statements may differ materially from actual results or events.  Factors
 which could cause results or events to differ from current expectations
 include, among other things: the impact of rapid technological and market
 change; general industry and market conditions and growth rates; international
 growth and global economic conditions, particularly in emerging markets and
 including interest rates and currency exchange rate fluctuations; and the
 impact of consolidation in the technology industry.  These risks may further
 be discussed in periodic reports and registration statements to be filed by
 the company from time to time with the SEC.
 
 SOURCE  GlobalNet, Inc.