PSINet Names Lawrence Hyatt Chief Financial Officer ASHBURN, Va., July 10 /PRNewswire-AsiaNet/ -- PSINet Inc. (Nasdaq: PSIX), the Internet Super Carrier, today announced the appointment of Lawrence E. Hyatt as executive vice president and chief financial officer, reporting to PSINet chairman and CEO William L. Schrader. Hyatt, 45, will oversee the company's financial operations, treasury, accounting and investor relations. "Larry brings to PSINet more than 20 years experience across all finance functions, including an extensive knowledge of international and U.S. financial markets," said William L. Schrader, chairman and CEO of PSINet. "He is a highly experienced chief financial officer with a proven track record and will readily contribute to PSINet's management team as we focus on integrating our acquisitions and growing our business to profitability." Prior to joining PSINet, Hyatt was a top financial executive within the Marriott Corporation's family of companies for nearly twenty years, most recently serving as senior vice president and chief financial officer for Host Marriott Services (now HMSHost Corporation, a wholly owned subsidiary of Autogrill, S.p.A. (AGL: IM). At HMSHost, he oversaw the company's information systems, cash management, investor relations, accounting and control, tax, internal audit, risk management, planning and budgeting operations. Earlier, Hyatt served as senior vice president and chief financial officer for Sodexho Marriott Services, Inc. (NYSE: SDH), a $4.2 billion revenue company with 100,000 employees. He was responsible for treasury, investor relations, SEC reporting, accounting, tax and budgeting. While serving at Sodexho Marriott, Hyatt completed refinancing of $1.4 billion of syndicated bank debt, and established investor relations, treasury and tax functions for the company. From 1981 through 1998, Hyatt performed a variety of roles at Marriott International, serving as senior vice president of finance and planning from 1988 to 1998. During his tenure, Hyatt identified, negotiated and completed numerous acquisition and joint venture transactions adding $650 million to the company's annual revenue, while diversifying the business beyond the company's food service core. He was also instrumental in negotiating spin-off, merger and refinancing transactions with Sodexho Alliance that led to the formation of Sodexho Marriott, where he became chief financial officer. Prior to joining Marriott, Hyatt was employed with ICF Incorporated and the U.S. Department of Energy as an associate and financial analyst, respectively. Hyatt received his MBA from Harvard University in 1980 and a B.A. in Economics from Williams College (MA) in 1976. Headquartered in Ashburn, Va., PSINet is an Internet Super Carrier offering global eCommerce infrastructure and a full suite of retail and wholesale Internet services through wholly-owned PSINet subsidiaries. Services are provided on PSINet-owned and operated fiber, satellite, web hosting and switching facilities providing direct access in more than 900 metropolitan areas in 29 countries on five continents. PSINet information can be obtained by e-mail at [email protected], by accessing the web site at http://www.psinet.com or by calling in the U.S. 800-799-0676. SOURCE PSINet Inc. CONTACT: Doug Baj, media, 703-726-1431, or [email protected], or Kevin Libby, analysts, 703-726-1245, or [email protected], both of PSINet/ Web site: http://www.psinet.com -END-