AboveNet to make interim common stock distribution in December under Metromedia Fiber plan

By Caroline Salls

Pittsburgh, Dec. 4 - AboveNet, Inc., formerly Metromedia Fiber Network Inc., will make an interim distribution of common stock shares in December to class 7 claimholders of record as of Aug. 11, according to an 8-K filing with the Securities and Exchange Commission.

The distribution will be made under the terms of Metromedia Fiber's second amended plan of reorganization.

Distributions will only be made for claims that have been allowed since the date of the previous interim distribution, the filing said.

Upon the completion of this proposed interim distribution, the company will have distributed 2.13 million class 7 shares.

The company has previously distributed 2.12 million class 7 shares, 1.48 million class 6 shares, 621,728 five-year warrants, of which 6,712 have been exercised, and 731,431 seven-year warrants, of which 6,532 have been exercised, as well as all 944,773 class 1(b) shares and all 3,369,876 class 2 shares.

In addition, the company has distributed 1.67 million shares under a rights offering conducted upon emergence from bankruptcy and 41,122 shares to a former employee in connection with his compensation arrangements.

AboveNet, a New York-based network infrastructure company, emerged from bankruptcy in September 2003.

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