Global Capacity Announces $2.9 Million in New Contracts

Contracts Help Expand "One Marketplace" Network

CHICAGO, Aug. 27 /PRNewswire-FirstCall/ -- Global Capacity (parent: Capital
Growth Systems, Inc. (OTC Pink Sheets: CGSY)), the world's leading
telecommunications information and logistics company, today announced two new
Strategic Sourcing contracts with total contract value over $2.9 million.
These contracts will be delivered via an expansion of Global Capacity's "One
Marketplace" network solution.

One Marketplace enables customers to expand their networks in an efficient,
cost-effective manner. Global Capacity utilizes its proprietary telecom
information and network optimization tools to design the most cost-effective
network solution, aggregating customer demand and leveraging the Company's
logistics and network management expertise to deliver high-value services at
significantly lower costs. These solutions enable customers to meet their
business objectives, rapidly responding to new requirements, while improving
efficiency and reducing the cost of their network infrastructure.

"We are pleased to announce these new contracts, which highlight the
requirement for and acceptance of Global Capacity's solutions in the market,"
said Patrick Shutt, Global Capacity Chief Executive Officer. "One Marketplace
combines the core assets of Global Capacity - our information, systems, and
expertise - to deliver innovative solutions to our customers at lower total
costs, enabling them to meet their business objectives."

About Global Capacity

Global Capacity (parent: Capital Growth Systems, Inc.) is a telecom
information and logistics company providing a fully-integrated
telecommunications supply chain management system that streamlines and
accelerates the process of designing, pricing, building, optimizing, and
managing customized communications networks. It offers a comprehensive suite
of services to enterprises, systems integrators, and carrier customers
worldwide. Global Capacity is headquartered in Chicago, IL, with operational
centers in Waltham, MA and Manchester, England; and offices in Houston, TX;
Glastonbury, CT; New York, NY; London, England; and Lisbon, Portugal. For
more information, please visit www.globalcapacity.com or contact the Company
at 312-673-2400.

Forward-Looking Statements
Certain information discussed in this press release may constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and Federal securities laws. Although the
Company believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions at the time made, it can give
no assurance that its expectations will be achieved. Readers are cautioned
not to place undue reliance on these forward-looking statements.
Forward-looking statements are inherently subject to unpredictable and
unanticipated risks, trends, and uncertainties such as: the Company's
inability to accurately forecast its operating results; uncertainty as to the
volume of business or level of profitability of network optimization
contracts; the Company's potential ability to achieve profitability or
generate positive cash flow; the availability of financing; the risks
associated with procuring a listing of its securities on one or more public
stock markets; and other risks associated with the Company's business. For
further information on factors which could impact the Company and its
subsidiaries and the statements contained herein, reference should be made to
the Company's filings with the Securities and Exchange Commission, including
annual reports on Form 10-K, quarterly reports on Form 10-Q, and current
reports on Form 8-K. The Company assumes no obligation to update or
supplement forward-looking statements that become untrue because of subsequent
events.

SOURCE Global Capacity

For Customers & Partners: Jack Lodge, Chief Operating Officer of Global
Capacity, +1-781-902-5196, jlodge@globalcapacity.com, or for Media & Analysts:
Matt Rizzetta, of Dukas Public Relations, +1-212-704-7385, matt@dukaspr.com,
or for Investors: Jeff Salzwedel, of Salzwedel Financial Communications, Inc.,
+1-503-722-7300, jeff@sfcinc.com