<PAGE> 1
EXHIBIT 99.1
CONTACT: Sandra Gonzalez-Levy
Terremark Worldwide Inc.
(305) 860-7829
[email protected]
Steven Schwadron/Alec Rosen
Edelman Public Relations
(305) 358-9500 (w)
(305) 527-4864
or 632-2003 (c)
[email protected]
[email protected]
TERREMARK WORLDWIDE ANNOUNCES PRIVATE PLACEMENT OF SUBORDINATED
CONVERTIBLE DEBENTURES TO PURCHASE COMMON STOCK
MIAMI, FL - (November 21, 2000) -- Terremark Worldwide, Inc. (AMEX: TWW) today
announced that it is proposing to make a private placement of $100,000,000 (with
the right of the Company to increase to $150,000,000) of subordinated
convertible debentures due December 31, 2005. The Company proposes to use the
net proceeds of the offering for its capital needs.
Offers will be made solely by means of a confidential offering memorandum to
either qualified accredited investors pursuant to Regulation D under the
Securities Act of 1933 ("the Act") or in offshore transactions pursuant to
Regulation S under the Act. None of the debentures that the Company is proposing
to sell in the private placement or the common stock into which they are
convertible have been registered under the Act and they may not be offered or
sold in the United States absent registration or an applicable exemption from
such registration.
================================================================================
