Terremark Announces Closing of Common Stock Offering

March 15, 2005; 06:47 AM

MIAMI, FLA. (March 15, 2005)  Terremark Worldwide, Inc. (AMEX:TWW) today announced the closing of its follow-on offering of 60,000,000 shares of its common stock. The shares were sold by Terremark at a price of $0.73 per share.

SG Cowen & Co., LLC was the lead manager for the offering. Printed copies of the final prospectus relating to the offering can be obtained by contacting SG Cowen & Co., LLC, Prospectus Department at 1221 Avenue of the Americas, 6th Floor, New York, New York 10020 or through ADP by fax at 631-254-7268. The final prospectus will also be filed with the Securities and Exchange Commission and be available on the Commission's website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Terremark Worldwide, Inc.:

Terremark Worldwide Inc. (AMEX:TWW) is an operator of integrated Tier-1 Internet exchanges and network services, creating technology marketplaces in strategic global locations. Terremark is the owner and operator of the NAP of the Americas, the 5th Tier-1 Network Access Point in the world and the model for the carrier-neutral TerreNAP(sm) Data Centers the company has in Santa Clara, California (NAP of the Americas/West), in Sao Paulo, Brazil (NAP do Brasil) and in Madrid, Spain (NAP de las Americas - Madrid). The carrier-neutral NAP of the Americas is a facility that provides exchange point, collocation and managed services to carriers, Internet service providers, network service providers, government entities, multi-national enterprises and other end users.

Statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Terremark's actual results may differ materially from those set forth in the forward-looking statements due to a number of risks, uncertainties and other factors, as discussed in Terremark's filings with the SEC.  These factors include, without limitation, Terremark's ability to obtain funding for its business plans, uncertainty in the demand for Terremark's services or products and Terremark's ability to manage its growth.  Terremark does not assume any obligation to update these forward-looking statements.