Arbinet Announces Results of 2008 Annual Meeting and Board Appointments

Arbinet President and CEO, William M. Freeman, Appointed Chairman, and Shawn
F. O'Donnell Appointed Independent Lead Director

NEW BRUNSWICK, N.J., June 19 /PRNewswire-FirstCall/ -- Arbinet-thexchange,
Inc. (Nasdaq: ARBX), a leading provider of innovative voice and IP solutions
for buying and selling telecommunications capacity, announced that
stockholders elected William M. Freeman and John B. Penney to the Company's
Board of Directors at the 2008 Annual Meeting of Stockholders, which was held
today.
Arbinet also announced that the Board of Directors appointed Mr. Freeman,
Arbinet's current President and Chief Executive Officer, to the additional
role of Chairman of the Board. Mr. Freeman succeeds Robert C. Atkinson who,
as previously announced, is retiring as a director and as Chairman.
In addition, the Board appointed current independent director, Shawn F.
O'Donnell, as Lead Director. In this newly created position, Mr. O'Donnell's
responsibilities will include acting as a liaison with independent directors,
working with Mr. Freeman in setting the Board agenda, and presiding at
meetings when the Chairman is not present.
"Since joining Arbinet as the Company's President and CEO, Bill and his
team have made important progress in honing our strategies, expanding our
member base and laying a stronger foundation for growth," said Mr. O'Donnell.
"We are delighted that Arbinet will continue benefiting from Bill's leadership
as he assumes expanded responsibilities as Arbinet's Chairman."
"On behalf of the Board, I want to thank Arbinet's stockholders for their
support and extend our appreciation to Bob for his years of service to Arbinet
as well as to Shawn for accepting his new role," said Mr. Freeman. "Arbinet's
unique solutions, intelligent platform and routing expertise provide exciting
opportunities to drive enhanced value for our stockholders and even better
service for our members. I look forward to continue working with my fellow
directors and management team to fully capitalize on these strengths."
Mr. Freeman has served as President, Chief Executive Officer and a
director of Arbinet since November 2007. Prior to joining Arbinet, he served
as Chief Executive Officer and a director of Leap Wireless International, Inc.
from 2004 to 2005 and as President of the Public Communications Group of
Verizon Communications Inc. from 2000 to 2004. Mr. Freeman began his
executive career at one of Verizon's predecessor companies, Bell Atlantic
Corporation, where he served in a number of senior leadership positions,
including President and Chief Executive Officer of Bell Atlantic-New Jersey
and President and Chief Executive Officer of Bell Atlantic-Washington, D.C.
Mr. Freeman is a director of CIT Group Inc., a director and Chairman of
Terrestar Corp. (previously Motient Corp.), and a director of Value Added
Holdings, Inc., a privately held communications company. He is a founder and
co-owner of Synthesis Security LLC and also serves on the Board of Trustees of
Drew University. Mr. Freeman received a B.A. in Economics from Drew
University and an M.B.A. from Rutgers University.
Mr. O'Donnell has served as a director of Arbinet since July 2007. He is
currently a Senior Director at the consulting firm CXO, which specializes in
management and operational consulting. From 2003 through 2006, Mr. O'Donnell
was a member of Capital and Technology Advisors, a consulting firm
specializing in the telecommunications and technology sectors, serving as
Chief Operating Officer from 2005 through 2006. Previously, Mr. O'Donnell was
Executive Vice President of Network Services and Systems at PathNet
Telecommunications, Inc., from 1999 to 2001. Prior to that, Mr. O'Donnell
held several positions at MCI Telecommunications Corporation, including
Director of Transmission and Facility Standards and Engineering.
Mr. O'Donnell is currently a member of the board of directors of Shared
Technologies. He previously served on the boards of directors of Terrestar
Networks, Inc. and Mobile Satellite Ventures, LP. Mr. O'Donnell received a
B.S. degree in Electrical Engineering from Pennsylvania State University and a
Masters in Electrical Engineering from Virginia Polytechnic University.
About Arbinet
Arbinet is a leading provider of innovative voice and IP solutions
empowering communications companies to create the most efficient and valuable
global interconnections. Arbinet offers the greatest flexibility in global
scale, platform intelligence, and managed solutions to achieve commercial
efficiency and interconnection simplicity.
Arbinet manages business relationships, back office operations and call
routing for Members who route through Arbinet approximately 2% of the world's
international voice traffic to over 1,300 destinations worldwide. These
Members include fixed line, mobile, wholesale and VoIP carriers as well as
calling card, ISPs and content providers around the world who buy and sell
voice and IP telecommunications capacity and content. For more information
about Arbinet's solutions, visit www.arbinet.com
Forward-Looking Statements
This press release contains forward-looking statements regarding
anticipated future revenues, growth, capital expenditures, management's future
expansion plans, expected product and service developments or enhancements,
and future operating results. Such forward-looking statements may be
identified by, among other things, the use of forward-looking terminology such
as: "believes," "expects," "may," "will," "should" or "anticipates," or the
negative thereof or other variations thereon or comparable terminology, or by
discussions of strategy that involve risks and uncertainties. Various
important risks and uncertainties may cause Arbinet's actual results to differ
materially from the results indicated by these forward-looking statements,
including, without limitation: the ability of Arbinet to effectively divest
Broad Street Digital Limited; members (in particular, significant trading
members) not trading on our exchange or utilizing our new and additional
services (including DirectAxcess(SM), PrivateExchange(SM), AssuredAxcess(SM)
and PeeringSolutions(SM)); continued volatility in the volume and mix of
trading activity; our uncertain and long member enrollment cycle; the failure
to manage our credit risk; failure to manage our growth; pricing pressure;
investment in our management team and investments in our personnel; regulatory
uncertainty; system failures, human error and security breaches that could
cause Arbinet to lose members and expose it to liability; and Arbinet's
ability to obtain and enforce patent protection for our methods and
technologies. For a further list and description of the risks and
uncertainties the Company faces, please refer to Part I, Item 1A of the
Company's Annual Report on Form 10-K, filed with the Securities and Exchange
Commission on March 17, 2008, and other filings that have been filed with the
Securities and Exchange Commission. Arbinet assumes no obligation to update
any forward-looking statements, whether as a result of new information, future
events or otherwise and such statements are current only as of the date they
are made.
SOURCE Arbinet-thexchange, Inc.

Jack Wynne, CFO, Arbinet-thexchange, Inc., +1-732-509-9230; or Andrea Priest
or Andi Salas, both of Joele Frank, Wilkinson Brimmer Katcher,
+1-212-355-4449