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News Release 2003

January 28, 2003

Fusion Takes Over Exodus Communications' GOL ISP Operations

Fusion Communications Corporation will take over operations of Global OnLine (GOL) Japan, an ISP division of Exodus Communications, K.K., which is wholly owned by the British telecom firm Cable & Wireless, as of February 1 through its wholly owned subsidiary, Fusion Network Services Corporation.

1. Objective of the transfer of operations
Fusion plans to offer FUSION IP-Phone to users of permanent Internet connection services such as ADSL and FTTH. In starting to offer ISP services, Fusion considers it necessary to quickly establish a business infrastructure that includes administrative functions and personnel. For this reason, the company decided to take over the operations of GOL, an established ISP business that has built up a solid business infrastructure and strong business record over several years. The transfer of operations to Fusion's subsidiary, Fusion Network Services, is aimed at developing and expanding the Fusion Group's ISP business.

2. Content of the transfer of operations
(1)All business assets related to the Internet service provider GOL and all the rights and contracts deemed necessary to carry out business, as well as the personnel in the GOL division, shall be transferred.

(2)Outline of the Exodus Communications' GOL division
Business content: Internet service provider (General Type-II telecommunications carrier)
Service area: nationwide
Subscribers: approximately 18,000
Employees: 25

3. Outline of firm taking over operations
(1)Name: Fusion Network Service Corporation
(2)Capitalization: 40 million yen
(3)Established: June 7, 2001
(4)Representative: President, Hiromi Imakoga
(5)Business content: General Type-II telecommunications carrier
(6)Shareholder: Fusion Communications Corporation (100%)

4. Operations after the transfer
After the transfer of operations, GOL services will continue to be provided in their present form. Customers of GOL will not be affected by the transfer. Plans are being made in due course to revise services and pricing to gain more customers and to expand the permanent ISP connection services that form the basic infrastructure for provision of FUSION IP-Phone services.

5. Operations transfer date
February 1, 2003

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