Dear customers, business partners, shareholders and employees,

As we look forward to a bullish 2010, GTT stands a strong, healthy company that is poised to deliver value to our customers and partners and yield a positive return to our shareholders.

GTT has posted strong financial results highlighted by 9 consecutive quarters of positive adjusted EBITDA.  And, our 3Q 2009 financial statements showcase the healthiest balance sheet in the history of the company.  But even with that financial success, GTT has kept its eye on the mission at hand - supporting our customers in the complex world of telecommunications.  In order to achieve that clear mission, GTT has taken positive, evolution-promoting steps in 2009 including launching a comprehensive customer feedback program to understand how we could be serving our customers better, and improving all of our internal systems and processes so we can improve our service delivery to customers.

Recently, GTT announced the acquisition of WBS Connect, a high-bandwidth IP transit and wide area networking services provider.  The acquisition of WBS Connect will expand the portfolio of IP transit and Ethernet products GTT offers.  Additionally, GTT will add WBS Connect’s network infrastructure assets with over 60 points of presence in major North American, Asian and European metro centers. With these assets, GTT will have a deeper IP transit and Ethernet product suite to attract new customers and service our existing customer base. 

Moving forward we see three key trends in our industry.  First, multinational enterprises will continue to expand globally into both developed and developing parts of the world.  This expansion will (i) stimulate demand for higher-capacity bandwidth into more geographies, (ii) create increased network complexity as businesses integrate emerging and legacy technologies, and (iii) require more managed services to handle this increased level of network complexity.  Second, enterprises and carriers will continue to exert strict control over their telecom costs and will continue to rely more heavily on the expertise of their suppliers to help deliver savings and sound technical guidance.  And third, we see enterprise mobility increasing in both scope and sophistication, placing untold demands on the IT managers that must support a dynamic mobile workforce.

GTT is extremely well positioned to address these trends.  We will leverage our 800-plus supplier relationships, a truly global network footprint, internal telecom management expertise, and our industry-leading international services experience to deliver integrated, multi-carrier solutions at competitive prices to customers worldwide. 

Yours sincerely,

  Richard (“Rick”) Calder, Jr.

  President and Chief Executive Officer

  Global Telecom & Technology

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