ATN Aterian Plc

RNS Number:7115Y
Atlantic Telecom Group PLC
12 February 2001



                                     Atlantic Telecom invests in Magic Moments

                              Atlantic to expand web hosting services to SME's

                                                              12 February 2001



Atlantic Telecom Group PLC ('Atlantic'), a leading European broadband telecoms
provider, today announces that it has entered into a strategic partnership
with Magic Moments Internet PLC ('Magic Moments'), one of the UK's leading
dedicated Internet hosting and services companies. The partnership will allow
both companies to take advantage of cross-marketing opportunities between
their significant SME customer bases, complementary service offerings and
broad geographical reach in the UK and Germany.

Atlantic is investing #2.5 million to take an approximate 6.4% stake in the
enlarged equity of Magic Moments, which is in the process of changing its name
to Host Europe PLC. Magic Moments is listed on the UK Alternative Investment
Market. Magic Moments also announced today the proposed acquisition of a 51%
interest in One-2-One Advertising & Telecommunications GmbH ("One-2-One"), a
significant player in the German hosting market.

Atlantic's core operating strategy is focused on providing value-added
services to SMEs, using a portfolio of broadband technologies. The partnership
will allow Atlantic to rapidly and cost-effectively expand its offering of web
hosting services to its SME customers through an established provider. Under
the terms of the partnership, Atlantic will be a preferred broadband service
provider for Magic Moments' SME customers in the UK and Germany which will
total over 22,000 SME's following completion of the One-2-One acquisition.

Graham J. Duncan, Executive Chairman of Atlantic Telecom, added:

"Atlantic has always adopted a strategy of expanding the business by
developing partnerships. The alliance between Magic Moments and Atlantic
brings great advantage to both parties in a cost-effective way. We have been
very impressed by the quality of the team at Magic Moments and we share a
similar vision of the significant growth in services that will be available
from focusing on an SME customer base. This will allow both of our companies
to provide a broader and better package of bundled service solutions."

For further information please contact:
Graham J Duncan, Executive Chairman, Atlantic Telecom              01224 454000
Susy Atkinson, Corporate Affairs Manager, Atlantic Telecom         07808 397374
Patrick Toyne Sewell/Sara Thomas, Citigate Dewe Rogerson          020 7638 9571

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