Primus (OTC:PMUG) Approves Arbinet Acquisition

Primus Telecommunications Group (OTC:PMUG), a global facilities-based integrated provider of advanced telecommunications products and services, announced the results of its special meeting of stockholders held earlier today. Primus' stockholders voted to approve the issuance of shares of Primus common stock in connection with the company's proposed acquisition of Arbinet and pursuant to the merger agreement with Arbinet. Primus' stockholders also approved the Primus Telecommunications Group, Incorporated Management Compensation Plan, as Amended.

Shares of Primus are up slightly today at $15.47 per share on light volume of 13,600 shares compared to its average daily volume of 50,035 shares. The company has a market cap of $152 million and a 52-week range between $5.75 and $16.25 per share.

Approximately 67.73% of the shares of Primus common stock issued and outstanding as of the close of business on Wednesday, January 12, 2011, the record date for the special meeting, were present in person or by proxy at the special meeting. Of the shares present at Primus' special meeting, approximately 99.95% were voted in favor of the issuance of shares of Primus common stock in connection with the proposed acquisition of Arbinet.

Primus' completion of the acquisition of Arbinet is subject to the satisfaction of all other closing conditions in the merger agreement, including, but not limited to, the approval and adoption of the merger agreement by Arbinet's stockholders. Primus continues to expect that the transaction will be completed on February 28, 2011.

Primus Telecommunications Group, Incorporated is a provider of advanced communication solutions, including, traditional and IP voice, data, mobile services, broadband Internet, collocation, hosting, and outsourced managed services to business and residential customers in the United States, Canada, Australia, and Brazil. Primus is also one of the international wholesale service providers to fixed and mobile network operators worldwide. Primus owns and operates its own global network of next-generation IP soft switches, media gateways, hosted IP/SIP platforms, broadband infrastructure, fiber capacity, and data centers located in Canada, Australia, and Brazil. Founded in 1994, Primus is headquartered in McLean, Virginia.

For more information visit: www.ptgi.com.

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