Arbinet Announces Stockholder Approval of Merger With Primus

Arbinet Corporation ARBX, a leading provider of telecommunications services to fixed and mobile operators, announced today that the company's stockholders have approved and adopted Arbinet's merger agreement with Primus. At a special meeting of Arbinet stockholders held today, Arbinet stockholders approved the definitive merger agreement, which the company had entered into on November 10, 2010, pursuant to which Arbinet will be acquired by Primus in the proposed stock-for-stock merger transaction. Subject to the satisfaction of all other closing conditions, the transaction is scheduled to close on February 28, 2011. Based on the preliminary tabulation of the stockholder vote by Arbinet's inspector of elections, approximately 85% of the total votes cast, which represents approximately 73.5% of the total outstanding shares of Arbinet as of the January 12, 2011 record date, approved the proposed merger.