Terremark

Terremark Announces NAP do Brasil

• Operation of Largest and Most Significant Brazilian Peering Point Transferred to Terremark

MIAMI (March 7, 2002) - Terremark Worldwide, Inc. 
(AMEX: TWW), the only carrier-neutral operator of a Tier-1 NAP and a provider of Internet infrastructure and managed services announced today that it has signed a binding partnership agreement with FAPESP-the State of Sao Paulo's (Brazil) Research Foundation-to operate and manage Brazil's premier network access point (NAP). This NAP, the first, largest and most significant peering point in Brazil, where carriers and access providers exchange Internet traffic, is the only peering point in that country operated by a state or federal government.

"This partnership with FAPESP is of strategic importance to our company's future plans. It defines the NAP of the Americas as the model for modern private peering points, validates our business plan and affords us new opportunities in other Latin American countries," said Manuel D. Medina, Chairman and CEO of Terremark Worldwide, Inc. "Becoming the operator of this key NAP catapults Terremark into the enviable position of being able to capitalize on other NAP privatization opportunities throughout the region."

Terremark will operate and manage the Sao Paulo-based NAP do Brasil, as it will be called, at the same high quality and performance standards in effect at Terremark's NAP of the Americas-the world's 5th Tier-1 NAP, located in Miami.

"FAPESP was able to sole-source the opportunity with Terremark, without requiring a public bid, because we are the only Tier-1 carrier-neutral NAP operator in the world," said Medina. "This renowned research institution identified us as the partner capable of elevating its peering point to Tier-1 NAP status, modeled after the NAP of the Americas."

Created for the funding of scientific and technological research, FAPESP functions much like the United States' National Science Foundation (NSF). Prior to the partnership with Terremark, FAPESP was responsible for the operation and management of this peering point. Through its agreement with Terremark, is now privatizing the facility much like the NSF did in 1995 with the four original Tier-1 NAPs, located in the United States.

NAP do Brasil is home to more than 30 carriers, backbone providers, ISPs, and content providers-all of which will now become Terremark's customers and can take advantage of the NAP of the America's products and services. The peering point is presently located in the FAPESP building in Sao Paulo and has severe space limitations. Increased demand by customers and others has expedited the need to expand the facility to a new, larger, permanent location for the NAP do Brasil within the next 12 months. Terremark is currently in discussion with several potential funding sources for this project, all of which are based in Brazil.

Brazil has the largest economy in South America and the ninth largest in the world. Internet usage in Brazil in 2002 is projected to be 20.5 million users and estimated to grow to 40.3 million users by 2006 therefore, making the need for an efficient, secure and reliable connectivity point in Brazil, modeled after the NAP of the Americas, critical.

About Terremark Worldwide, Inc./NAP of the Americas Terremark Worldwide Inc. (AMEX:TWW) is a global leader in facilitating Internet connectivity and providing Internet infrastructure and managed services. Terremark is the owner and operator of the NAP of the Americas, the 5th Tier-1 Network Access Point in the world and the model for TerreNAPsm Data Centers the company intends to deploy in emerging markets. The carrier-neutral NAP of the Americas is a state-of-the-art facility providing interconnection between global carriers, ISPs and others as well as connecting fiber networks in Latin America, Europe, Asia and Africa to those in the U.S. 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.

About FAPESP The creation of FAPESP in 1962 was aimed at providing the state of Sao Paulo, Brazil with an independent research support organization which compliments the Federal funding of research in the State. FAPESP is an autonomous body and works strictly on a peer review basis. Established by its constitution, the State of Sao Paulo, allocates 1% of its tax revenue to FAPESP for the funding of scientific and technological research in all areas of knowledge. To achieve its goals, FAPESP maintains regular and special research grants and fellowships throughout the year. More information on FAPESP can be found at http://www.fapesp.br.