North Rock Communications, In Association With TBI, Drops Internet Rates By Up To 10%

Hamilton Bermuda, January 20, 1999 -- North Rock Communications in association with TBI announced today that effective January 21st they are providing an immediate reduction in access rates charged to their Internet subscribers. All existing and new customers will realize up to a 10% reduction in monthly costs as a result of the announcement. The new rates are the outcome of reduced costs for an international access agreement that was reached on January 11th between North Rock Communications and TeleBermuda International Limited.

Tom Coelho, General Manager of North Rock Communications stated, "We appreciate TeleBermuda's ongoing efforts to provide lower international access rates that facilitated the reduction in North Rock's Internet rates. TeleBermuda has continually introduced lower international voice rates and now, we are very pleased to extend this reduction to our Internet rates. Our collaborative relationship with TeleBermuda has provided North Rock with savings and we are immediately providing them to our customers. Existing North Rock customers will see a drop in charges on their next monthly statement."

James Fitzgerald, General Manager of TeleBermuda added "Since first introducing competitive telecommunication services to Bermuda in 1997 international voice rates have been reduced by up to 58%. Savings provided by TeleBermuda for international data services over the past 3 years have resulted in reductions of up to 60%. We are pleased to be able to continue to provide reduced rates for our corporate clients, such as North Rock and even more pleased to see them pass these savings on to their customers. Our plans for the year 2000 will continue this trend with additional reductions in TeleBermuda's voice and data access rates."

About the Companies

North Rock Communications

North Rock Communications has been a full service Internet Provider since December of 1997 and has successfully provided innovative solutions to corporate and residential customers. The organization also provides High Speed Wireless Local Loop service. North Rock intends to offer a full suite of data products over its new network. Commercial services are presently available and services aimed at the residential market are expected during the third quarter of 2000. Conveniently located in Washington Lane, North Rock Communications is committed to providing value added Internet products and excellence in customer service.

TeleBermuda

TeleBermuda International Limited is a Bermuda company with headquarters at 2 Carter's Bay Road, Southside, St. David's DD 02, Bermuda. TeleBermuda provides a full range of international voice and data services and is a wholly-owned subsidiary of GlobeNet Communications Group Limited, which trades on the Bermuda Stock Exchange under the symbol GLOCOM.