Press Release

AboveNet Nominated for Best New Service Award

NEW YORK, Oct. 14 /PRNewswire-FirstCall/ -- AboveNet, Inc, (OTC Bulletin Board: ABVT), a leading provider of fiber optic connectivity solutions, has been selected as a finalist for the Leading Lights Award for Best New Service in 2008 for its Metro Ethernet Dedicated (ME-D) service.  These awards target outstanding achievements in the communications industry as determined by Light Reading, one of the most respected and widely followed publications in the industry.

"Our Metro Ethernet Dedicated (ME-D) service offers a native Ethernet solution with guaranteed bandwidth, without a legacy SONET architecture.  It was designed for customers looking for 1GbE and, significantly, 10GbE connectivity in the metro.  We believe this is a compelling market offering, and are pleased to be recognized by Light Reading with this nomination" said Rajiv Datta, SVP & CTO of AboveNet.

This service is part of AboveNet's complete suite of market-proven Metro Ethernet offerings that provide a range of high bandwidth connectivity solutions for customers with 100mbps, 1Gbps and 10Gbps needs.

ME-D provides further value by offering converged access to our IP and VPN services and by having no space or power requirements, a growing area of concern for customers in expensive and constrained Data Centers.  This is made possible by AboveNet's dedicated fiber model that delivers the benefits of technology directly to our customers.

Bill LaPerch, AboveNet CEO added, "AboveNet continues to drive service innovation to solve customer challenges.  Our positioning as a leading high bandwidth service provider is reinforced with offerings such as Metro Ethernet Dedicated."

Leading Lights Awards to be announced on Monday, October 20, 2008, following the first day of Light Reading's Ethernet Expo in New York City.

About AboveNet, Inc.
AboveNet, Inc. provides high bandwidth connectivity solutions for business and carriers. Its private optical network delivers key network and IP services in and among top U.S. metro markets and globally. AboveNet's network is widely used in demanding markets such as financial services, media, health care, retail and government.

About Light Reading
Founded in 2000, Light Reading (www.lightreading.com) is the ultimate source for technology and financial analysis of the communications industry, leading the media sector in terms of traffic, content, and reputation. It reaches an extensive audience of executives and technologists within the telecom and enterprise networking communities, as well as the financial/industry analysts and investors who track these sectors. Light Reading was acquired by United Business Media in August 2005 and operates as a member of its TechWeb division.

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This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company’s control. This also includes such factors as are described from time to time in the SEC reports filed by AboveNet, Inc., including the most recently filed Form 8-K.