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Bell Technology Group Ltd. announces $160 million 144A High Yield Securities Offering through ING Barings Furman Selz

NEW YORK – April 27, 1998

Bell Technology Group Ltd. (Nasdaq Small Cap: BELT, BELTW) announced today that ING Baring (U.S.) Securities, Inc., an affiliate of Furman Selz LLC, as initial purchaser, has entered into an agreement to purchase 160,000 Units, consisting of $160 million in principal amount of the Company’s 13% Senior Notes due May 1, 2005 and Warrants to purchase 563,200 shares of common stock at $14.03 per share. The Initial Purchaser has sold the offering in the United States to qualified institutional buyers pursuant to Rule 144A.

Marc H. Bell, President of the Company stated that the Company intends to use the net proceeds of the offering to expand its New York SuperPOP facility and to construct and operate SuperPOPs in London and San Francisco. The Company also intends to use the net proceeds of the offering to fund potential acquisitions in its target markets. The Company will use the balance of the net proceeds to increase its sales, marketing, technical and administrative personnel and to fund working capital needs.

Bell Technology Group Ltd. is an Internet service provider engaged in the design, construction and provision of sophisticated Internet-based solutions to large- and medium-size business enterprises. The Company’s services include: (i) high bandwidth dedicated Internet access, web hosting and co-location facilities, (ii) value-added systems and network integration, (iii) interactive development digital web design, web implementation and 3-dimensional computer animation and (iv) instructor-led corporate training. The Company currently provides Internet services to over 450 clients in New York City.

The Units have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and unless so registered, may not be offered or sold in the United States except on the PORTAL System or pursuant to an exemption from the registration requirements of the Securities Act and applicable state security laws.

About Globix

Globix is a leading provider of advanced Internet hosting, network and applications solutions for business. Globix delivers services via its secure state-of-the-art Internet DATA Centers, its high-performance global backbone and content delivery network, and its world-class technical professionals. Globix provides businesses with cutting-edge Internet resources and the ability to deploy, manage and scale mission-critical Internet operations for optimum performance and cost efficiency.

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