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                               FOR IMMEDIATE RELEASE

                      CARRIER1 SUSPENDS ITS US VOICE TRAFFIC

     LUXEMBOURG, 07-02-2002 -- Carrier1 International S.A. (the "Company")
(Neuer Markt: CJN, NASDAQ: CONE) announced today the suspension of its US
voice traffic.  The Company's US subsidiary, Carrier1 Inc., had to suspend
its US voice traffic because a number of key suppliers refused to continue to
provide necessary services without payment in full for past invoices and/or
credit support for future voice services.  The Company expects this action to
result in a very substantial decline in its total revenues.

     Since the termination of the Company's exchange offer for its high yield
debt on Friday, 1 February 2002, the Company's business prospects have
deteriorated significantly.  The Company is continuing to review its business
with a view to preserving value, including the prospects for a sale of all or
part of its business.  The Company believes that the suspension of its US
voice traffic is unlikely to affect significantly the Company's prospect of
entering into such a transaction.  It is uncertain, however, whether the
Company will be able to enter into any agreement with a buyer, or whether any
such agreement could be entered into soon enough to enable the Company's
operations to continue.  The Company does not expect an agreement, if any,
for the sale of all or part of its business to result in any recovery for its
shareholders.

     CONTACTS
     --------

Keith Johnson
Carrier1 International SA
 Tel. +44 20 7001 6357
keith.Johnson@carrier1.com
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     FORWARD-LOOKING STATEMENTS
     --------------------------

     Some of the statements contained in this release discuss future
expectations or state other forward-looking information, including the
possibility of a sale of all or part of the Company's business, and the
Company's ability to continue its operations.  Those statements are subject
to known and unknown risks, uncertainties and other factors that could cause
the actual situation to differ materially from those contemplated by the
statements.  The "forward-looking" information is based on various factors
and was derived using numerous assumptions. In some cases, these so-called
forward-looking statements can be identified by words like "may", "will",
"should", "expects", "plans", "anticipates", "believes",
"estimates", "predicts", "potential" or "continue" or the negative of
those words and other comparable words.  These statements only reflect the
prediction of Carrier1.  Consequently, such forward-looking statements should
be regarded solely as Carrier1's plans, estimates and beliefs at the date
made. Carrier1 does not undertake, and specifically declines, any obligation
to release publicly the results of any revisions to these forward-looking
statements that may be made to reflect any events or circumstances that
occurred or may occur after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.