RNS Number:8456F
Atlantic Telecom Group PLC
26 June 2001

PART 1


26 June 2001

                                                    ATLANTIC TELECOM GROUP PLC

                                 PRELIMINARY RESULTS FOR YEAR TO 31 MARCH 2001

                                                   GERMAN DSL NETWORK COMPLETE




Atlantic Telecom Group PLC, a leading European broadband telecoms provider,
today announces a strong set of preliminary results for the twelve months
ended 31 March 2001.

Financial key points (as at 31.3.01)


  * EBITDA loss significantly ahead of market expectations at #61.3 million,
    compared to a #20.8 million loss last year, with 4th quarter EBITDA
    showing 35% reduction in monthly losses.

  * Revenue more than triples to #77m (2000, #21.3m)

  * Restructure produces #65m cost savings

  * #135m cash at bank plus unused vendor finance facility

  * Substantial increase in net assets to nearly #522 million, after fully
    netting out debt, compared to #315m at 31 March 2000

Operational key points (as at 31.3.01)


  * German DSL network launched and completed - 558 colocations

  * Netherlands DSL network launched: 54 co-locations installed

  * Potential SME customer base across all networks c1.2 million compared to
    42,000 last year.

Highlights since year end


  * Framework agreement signed with Energis in Germany

  * 35 ISPs now signed wholesale agreements for up to 9,300 lines

  * Retail SME DSL lines expected to triple in quarter to 30 June 2001

  * 51% of all colocations now live

Commenting on the results, Executive Chairman Graham J Duncan said:

"Conditions have been difficult for all players in the telecommunications
sector this year. However, our business continues to makes good progress and
results show we are experiencing little operational impact from the global
downturn in telecom share values, other than the positive effect of reduced
competition.

"I am particularly pleased that our EBITDA indicates that Atlantic has turned
a corner. In the fourth quarter of the year, this reduced by 35%, and we will
see the full benefit reflected within the current year.

"We have built more access infrastructure this year than in the last three
years put together. We now have significant networks in Germany, Holland and
parts of the UK, and we are starting to take advantage of our position in
these markets. Our results provide tangible evidence that our strategy of
offering high-speed services to small businesses is paying off.

"Our build out is essentially complete, with the resulting reduction in capex,
and we can now concentrate on expanding our customer base. I am particularly
pleased that the first two months of this quarter show continued strong growth
in lines and revenues. This gives us solid grounds for optimism."
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