carriers' carrier, announced continued growth of revenues for the quarter ended March 31, 2001.

Cash revenues were $136.7 million and adjusted EBITDA was $109.6 million for the first quarter.

First quarter revenues of $29 million showed continued sequential foundations established last year.

The company said in challenging business conditions, it achieved revenues of $29 million, showing continued growth over the previous quarter and a significant increase over the same period last year.

EBITDA remained in positive territory at $1.2 million, the company said.

"Our ability and willingness to collaborate with strong industry partners has meant we have been able to progress our network build while minimising costs, reducing capital at risk, and accelerating time to market.''