Xspedius Secures New Credit Facility for Network Enhancement

[September 23, 2004]

Xspedius Secures New Credit Facility for Network Enhancement

For more information contact:
Kent Martin
Director of Investor Relations
Xspedius Communications
office: 636 625 7103
cell: 314 604 3787
email: kent.martin@xspedius.com

O�FALLON, MO (September 23, 2004) � Xspedius Communications LLC, a leading facilities-based integrated communications provider, announced today it has secured a credit facility of more than $4.5 million from Key Equipment Finance, the nation�s third-largest bank-held equipment leasing company and an affiliate of KeyCorp (NYSE: KEY).

The funding is targeted for advanced technology acquisitions and deployments throughout Xspedius� facilities-based network footprint. This investment in new technology is scheduled for implementation and activation by early October. It consists of Juniper-based M20 routers along with other IP-centric elements that will create a vast carrier-grade core Multi-Protocol Label Switching (MPLS) network. Xspedius, an early adopter of enhanced data networking technology, was among the first Competitive Local Exchange Companies (CLECs) to implement an inter-city Asynchronous Transfer Mode (ATM) network. The evolution of Xspedius� network to MPLS provides its customers with a backbone network that offers flexibility to support multiple protocols as well as reliability to withstand service attacks and viruses that can disrupt the public network. The MPLS implementation is another example of Xspedius� leadership in the industry as a network provider of technology, capability and customer-focused networks.

�Our continued investment in enhanced technology demonstrates an ongoing commitment to our customers who look to their suppliers for next generation solutions to their own communications needs,� Mark W. Senda, President and CEO of Xspedius, said. �This very attractive credit facility from an institution with the reputation that Key Equipment Finance possesses is recognition of Xspedius� consistent growth, financial integrity and business strategy.�

The KeyCorp credit facility follows a $20 million credit facility extended to Xspedius Communications by LaSalle Business Credit earlier this year. The credit facility from LaSalle Business Credit, an affiliate of LaSalle National Bank of Chicago, is being utilized to capitalize on technology and growth opportunities.

About Key Equipment Finance

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets:
� businesses of all sizes in the U.S. and Canada (from small business to large corporate);
� equipment manufacturers, distributors and value-added resellers worldwide;
� federal, provincial, state and local governments as well as other public sector organizations; and
� lease advisory services for manufacturers' captive leasing and finance companies.

Headquartered outside Boulder, Colorado, Key Equipment Finance oversees a $10 billion equipment portfolio with annual originations of approximately $3.9 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; London, England; and Sydney, Australia. The company, which operates in 25 countries and employs more than 650 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.

Cleveland-based KeyCorp is one of the nation�s largest bank-based financial services companies, with assets of approximately $86 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company�s businesses deliver their products and services through KeyCenters and offices; a network of nearly 2,200 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com, that provides account access and financial products 24 hours a day.

About Xspedius Communications

Xspedius Communications LLC employs a unique blend of innovation and efficiency to provide businesses across the southern U.S. with facilities-based competitive local communications services. A privately held company based in O�Fallon, MO, Xspedius Communications offers integrated voice, data and Internet services over a network covering more than 3,500 route miles across the country, while maintaining industry-leading growth. For more information about the company, visit www.xspedius.com.

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