ARBX Arbinet Corp. (MM)

Arbinet Corporation (NASDAQ: ARBX), a leading wholesale voice and data telecommunications service provider, announces today that MegaFon, one of the largest Russian mobile telecommunication operators, has started using Arbinet's PrivateExchange to improve global interconnect efficiencies for its voice termination.

Arbinet's PrivateExchange (PEX) is an outsourcing solution that enables retail service providers and carriers to aggregate multiple voice interconnections into a single TDM or VoIP interconnect with Arbinet. The carriers still handle rate and volume negotiations with each other, but Arbinet manages routing, billing and settlements and provides any necessary TDM or VoIP protocol conversions. Using PEX to build virtual direct routes to its international correspondent carriers, MegaFon can improve port utilization and network efficiency.

"We are very pleased with MegaFon's endorsement and utilization of our PrivateExchange service," states Dan Powdermaker, Arbinet's Senior Vice President of Sales and Marketing. "In an industry where many operators are looking for new efficiencies when delivering international voice services to their end-users, Arbinet's PrivateExchange is a unique, flexible, low cost and easily implemented solution. By using PrivateExchange, MegaFon is optimizing the cost of handling interconnects and will be able to devote more of its resources to retail product evolution, subscriber acquisition and customer service."

"Arbinet's PrivateExchange is a part of our action plan for developing MegaFon's international footprint," states Konstantin Solodukhin, MegaFon's Deputy General Director for Fixed Line Business Development and Interconnection. "It was our strategic decision to focus on interconnection with incumbent carriers and find an integrated solution for the rest of international voice wholesale. Arbinet's PrivateExchange allows us to use less company resources on handling those interconnections as well as to keep independence in choosing partners for traffic exchange and focus on negotiating better rates and achieving better quality for our customer calls."

Arbinet offers three ways for carriers and service providers to originate and terminate international voice traffic. PrivateExchange(SM), is an easy to use, low-risk outsourcing approach that enables service providers to create virtual direct routes and aggregate existing interconnects. thexchange™ is the industry's leading marketplace for buying and selling voice communications. Arbinet Carrier Services is a standard wholesale service with no fees, a single invoice and rate lock. It uses supplier codes in its wholesale routing plans.

For more information about Arbinet's Carrier Services, thexchange™, or PrivateExchange(SM), please visit www.arbinet.com or e-mail sales@arbinet.com.

About Arbinet Arbinet is a leading provider of international voice and IP solutions to carriers and service providers globally. With more than 1,100 carriers across the world connected to Arbinet's network, Arbinet combines global scale with sophisticated platform intelligence, call routing and industry leading credit management and settlement capabilities. Customers and suppliers include many leading fixed line, mobile, wholesale and VoIP carriers as well as calling card, ISPs and content providers around the world who buy and sell voice and IP telecommunications capacity and content. For more information, please visit www.arbinet.com or call +1.917.320.2000 or email sales@arbinet.com.

About MegaFon OJSC "MegaFon" was founded in May 2002. MegaFon became the first and only carrier to launch its own network in all regions of Russia. Carrier's network covers the territory of the country with a population of over 142 million people. MegaFon was the first to launch 3G commercial operations using the UMTS standard. Today, its 3G network covers most regions of Russia. In 2009, MegaFon "became the general partner of XXII Olympic Winter Games in 2014. As of the date of the last general stockholders' meeting, MegaFon's major shareholders are LLC AF Telecom Holding, TeliaSonera, Altimo. Number of active subscribers currently exceeds 51.6 million. Learn more about MegaFon at http://eng.megafon.ru.

Forward-Looking Statements This press release may contain forward-looking statements, including forward-looking statements regarding anticipated future revenues, growth, capital expenditures, management's future expansion plans, expected product and service developments or enhancements, discussions of strategy, and future operating results. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as: "believes," "expects," "intends," "may," "will," "should," "confident," "work to," "seeks," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. Various risks and uncertainties may cause Arbinet's actual results to differ materially from those express or implied in such forward-looking statements. Please refer to Arbinet's most recent Annual Report on Form 10-K and other periodic and current filings that have been filed with the Securities and Exchange Commission for a description of the risks and uncertainties that Arbinet faces. Arbinet assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, and such statements are current only as of the date they are made.

Ilissa Miller Jaymie Scotto & Associates 1.866.695.3629 Email Contact Michelle Midura Arbinet 1.732.509.9235 Email Contact