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Press release

Green shoe option in Infonet IPO fully exercised

21 January 2000

The Global Coordinators for Infonet Service Corporation, Merrill Lynch and Warburg Dillon Read, have fully exercised their green shoe option, adding 7,692,342 Class B shares to Infonet"s stock offer of 16 December 1999. Swisscom AG, which holds about 17.7% interest in Infonet, has sold a total of 2,692,357 In-fonet shares.

The number of Infonet shares in circulation, including the green shoe, totals 58´974´642 shares. Infonet´s six strategic partners have altogether offered an additional 7,692,342 Class B shares at a price of USD 21 per share. The IPO has thus raised more than USD 1,2 billion in all.

With the green shoe option, Swisscom sold an additional 1,282,057 shares, bringing its total number of Infonet shares sold to 2,692,357 worth USD 56,5 million.

Swisscom retains 17.7% in Infonet with 28,918,283 in Class A shares, and 54,386,078 in Class B shares.

In December last year, the current Infonet strategic shareholders Swisscom AG, KDD Corporation (Japan), KPN Telecom (Netherlands), Telefonica (Spain), Telia AB (Sweden) and Telstra (Australia) offered 12,820,700 shares. The strategic shareholders hold 77,4% of the "Class B" and 100% of the "Class A" shares. 19,5% of Class B shares are held by public shareholders, 3,1 % by Infonet Management.

Berne, 21 January 2000


Swisscom AG
Media Relations
3050 Bern