WASHINGTON, D.C., December 3, 2002 - Cogent Communications, a Tier One, all-optical ISP, announced today that it is rolling out a new low cost, high quality 2 Megabit product through its PSINet label. This dedicated, non-oversubscribed Internet access product will be available in three PSINet data centers located in Los Angeles, New York City and Herndon, Va. The 2 Mb connection will be bundled with a full rack for a flat rate of $1,000 per month.

"Our PSINet product line is now being extended beyond the T1 and T3 Type II circuit connections to a new level of service that does not touch the telcos. Since a voice-based network is not involved, Cogent can provide a higher level of performance for a lower price than can be offered by traditional ISPs," said Dave Schaeffer, CEO Cogent Communications. "This 2 megabits of all-optical, dedicated bandwidth fills a need for a higher performance/higher quality Internet connection."

Along with the dedicated 2-Mb Internet access product, customers will get a full rack space that includes a fast Ethernet port, 2 20-amp circuits, uninterruptible power, secure facilities and full environmental controls. Cogent acquired the data centers along with their acquisition of other key U.S. assets of PSINet in April, 2002. Cogent's data centers operate as a way to extend the reach of Cogent's traditional network to customers outside of Cogent's network footprint.

About Cogent Communications

Cogent Communications (AMEX: COI) is a Tier 1, facilities based, all-optical ISP focused on delivering ultra-high speed Internet access and transport services to businesses in the multi-tenant marketplace and to service providers located in major metropolitan areas across the United States. Cogent's signature service offered to commercial end-users of 100 Mbps for $1,000 per month, offers 100 times the observed bandwidth of a T-1 connection at approximately two-thirds of the cost. The Cogent solution makes ultra-high speed Internet access an affordable reality for small and medium-sized businesses, as well as large enterprises and service providers. Cogent's facilities-based, all-optical end-to-end IP network enables non-oversubscribed 100 Mbps and 1000 Mbps connectivity for radically low, unmetered pricing levels.

Cogent's network consists of a dedicated nationwide multiple OC-192 fiber backbone, multiple intra-city OC-48 fiber rings, and optically-interfaced high-speed routers. Cogent has been recognized as the first IP Optical Cisco Powered Network (CPN). Cogent acquired the U.S. operations of PSINet and is now servicing 33 metropolitan markets with services ranging from T1 and T3, to 100 Mbps and 1,000 Mbps Internet connectivity and transport services. Cogent Communications is headquartered at 1015 31st Street, NW, Washington, D.C. 20007. For more information, visit www.cogentco.com. Cogent Communications can be reached at (202) 295-4200 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..

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This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, successful completion or expansion of the network, our connection to the Internet requires us to obtain and maintain relationships with other providers, our rights to the use of the dark fiber that make up our network may be affected by the financial health of our fiber providers, we often are limited in choices for metropolitan fiber suppliers and we will need to obtain or construct additional building laterals to connect buildings to our network. Additional general factors include competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.

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