Terremark Completes Public Offering of 11,000,000 Shares of Common Stock

  
    
  
  
    
      Terremark Worldwide, Inc. (AMEX:TWW), a leading operator of integrated 
      Internet exchanges and a global provider of managed IT infrastructure 
      solutions for government and private sectors, today announced that it 
      has completed an underwritten public offering of 11,000,000 shares of 
      its common stock. After deducting underwriting discounts and commissions 
      and estimated offering expenses, the company received approximately 
      $82.6 million in net proceeds from the offering. The company will use 
      the net proceeds from the offering for general corporate purposes, which 
      may include capital expenditures, acquisitions, working capital and 
      repayment of existing indebtedness.
    
    
      Credit Suisse acted as the sole bookrunner for the offering. Copies of 
      the prospectus supplement and accompanying prospectus with respect to 
      the offering may be obtained from Credit Suisse, Prospectus Department, 
      One Madison Avenue, New York, New York 10010 (telephone: [phone]) 
      or by faxing requests to 212-325-8057.
    
    
      This press release does not constitute an offer to sell or the 
      solicitation of an offer to buy the shares of common stock or any other 
      securities, nor will there be any sale of the shares of common stock or 
      any other securities in any state or jurisdiction in which such offer, 
      solicitation or sale would be unlawful prior the registration or 
      qualification under the securities laws of any such state or 
      jurisdiction.
    
    
      About Terremark Worldwide, Inc.
    
    
      Terremark Worldwide, Inc. (AMEX:TWW) is a leading operator of integrated 
      Tier-1 Internet exchanges and a global provider of managed IT 
      infrastructure solutions for government and private sectors. Terremark 
      delivers its portfolio of services from seven locations in the U.S., 
      Europe and Latin America and from four service aggregation and 
      distribution locations, which aggregate network traffic and distribute 
      network-based services in Europe and Asia to meet specific customer 
      needs. Terremark's flagship facility, the NAP of the Americas, is the 
      model for the carrier-neutral Internet exchanges the company has in 
      Santa Clara, California (NAP of the Americas/West), in Sao Paulo, Brazil 
      (NAP do Brasil) and in Madrid, Spain (NAP de las Americas - Madrid). The 
      carrier-neutral NAP of the Americas is a state-of-the-art facility that 
      provides exchange point, colocation and managed services. Terremark is 
      headquartered at 2601 S. Bayshore Drive, 9th Floor, Miami, Florida USA, 
      305-856-3200. More information about Terremark Worldwide can be found at 
      http://www.terremark.com.
    
    
      Statements contained in this press release may constitute 
      "forward-looking statements" within the meaning of the Private 
      Securities Litigation Reform Act of 1995. Terremark's actual results may 
      differ materially from those set forth in the forward-looking statements 
      due to a number of risks, uncertainties and other factors, as discussed 
      in Terremark's filings with the SEC. These factors include, without 
      limitation, Terremark's ability to obtain funding for its business 
      plans, uncertainty in the demand for Terremark's services or products 
      and Terremark's ability to manage its growth. Terremark does not assume 
      any obligation to update these forward-looking statements.