RESTON, Va., Jul 9, 2004 (BUSINESS WIRE) -- XO Communications, Inc. (OTCBB:XOCM.OB) today announced the appointment of Fredrik G. Gradin and Robert L. Knauss to the XO Communications Board of Directors. Both Gradin and Knauss join the board as independent directors and will serve on the board's audit committee.

Fredrik Gradin has been president and CEO of Explorer Group Inc., an investment management company, since its inception in 1998. Prior to founding Explorer Group Inc., Mr. Gradin served as president of Spectron Energy, Inc., a leading energy brokerage company. Mr. Gradin holds a Bachelor of Arts degree from Rice University.

Robert Knauss currently serves as an independent director on the boards of the NYSE-traded investment funds Equus II, Inc. and The Mexico Fund, Inc. In the past twenty years Mr. Knauss has served on the boards of seven public companies. He previously served as chairman of Philip Services Corporation from 1998 to 2000 and from 2002 to 2003. Mr. Knauss also previously served as the dean of the University of Houston Law Center and Vanderbilt University Law School. Knauss holds a J.D. degree from the University of Michigan and a Bachelor of Arts degree from Harvard College.

"We're pleased to have Fred and Bob join the board of directors," said Carl Icahn, chairman of XO Communications. "Their respective backgrounds and leadership will complement the wealth of experience we have on our board today."

About XO Communications

XO Communications is a leading provider of national and local telecommunications services to businesses, large enterprises and telecommunications companies. XO offers a complete portfolio of services, including local and long distance voice, dedicated Internet access, private networking, data transport, and Web hosting services as well as bundled voice and Internet solutions. XO provides these services over an advanced, national facilities-based IP network and serves more than 70 metropolitan markets across the United States. For more information, visit www.xo.com.

THE STATEMENTS CONTAINED IN THIS RELEASE THAT ARE NOT HISTORICAL FACTS ARE "FORWARD-LOOKING STATEMENTS" (AS SUCH TERM IS DEFINED IN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995). THESE STATEMENTS INCLUDE THOSE DESCRIBING XO'S EXPECTED FUTURE BUSINESS AND NETWORK OPERATIONS AND RESULTS OF OPERATIONS, XO'S ABILITY TO ACHIEVE PROJECTED SYNERGIES AND REVENUE FROM THE ACQUISITION OF ALLEGIANCE'S ASSETS IN A TIMELY MANNER OR AT ALL, XO'S ABILITY TO INCREASE SALES, AND XO'S ABILITY TO CONTINUE TO IMPLEMENT EFFECTIVE COST CONTAINMENT MEASURES. MANAGEMENT CAUTIONS THE READER THAT THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES AND ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE INDICATED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF A NUMBER OF FACTORS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE RISKS AND UNCERTAINTIES DESCRIBED FROM TIME TO TIME IN THE REPORTS FILED BY XO COMMUNICATIONS, INC. WITH THE SECURITIES AND EXCHANGE COMMISSION, INCLUDING ITS ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2003 AND ITS QUARTERLY REPORTS ON FORM 10-Q.

SOURCE: XO Communications, Inc.

XO Communications, Inc.
Chad Couser, 703-547-2746
chad.couser@xo.com

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