announced record fourth quarter revenue in 2000 of $158 million, an increase of 26 percent over $125 million in the fourth quarter of 1999.

Revenue for the year ended December 31, 2000 climbed to $511 million, an increase of 42 percent over $360 million in 1999.

Cash revenue reached $217 million in the fourth quarter of 2000 compared with $135 million in the fourth quarter of 1999.

Cash revenue was $644 million for the year ended December 31, 2000 compared with $370 million in 1999.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) was $10 million in the fourth quarter of 2000, compared with $29 million in the fourth quarter of 1999 due to further investments in product development and the global sales force.

EBITDA grew 6 percent to $92 million for the year ended December 31, 2000, compared with $87 million in 1999.

Net loss was $155 million in the fourth quarter of 2000 (20 cents per share) and $355 million (55 cents per share) for the year ended December 31, 2000.

This compares to net income of $11 million in the fourth quarter of 1999 and net income of $24 million for the year ended December 31, 1999.

"360networks had many key successes in the fourth quarter,'' said Greg Maffei, president and chief executive officer of 360networks. "We extended our network reach and service capabilities by entering into alliances with Alcatel to build a transpacific cable and Telseon to offer metro services, and agreeing to acquire NetRail, a Tier 1 IP service provider.''