Cogent Communications Group, Inc. Announces Put Option for its 1.00% Convertible Senior Notes Due 2027

     Cogent Communications Group, Inc. Announces Put Option for its 1.00%
                      Convertible Senior Notes Due 2027

PR Newswire

WASHINGTON, May 14, 2014

WASHINGTON, May 14, 2014 /PRNewswire/ --Cogent Communications Group, Inc.
(NASDAQ: CCOI) (the "Company") today announced that it is notifying holders of
its outstanding 1.00% Convertible Senior Notes Due 2027 (CUSIP No. 19239VAB0)
(the "Securities") that the holders have an option, pursuant to the terms of
the Securities, to require the Company to purchase, on June 16, 2014, all or a
portion of such holders' Securities (the "Put Option") at a price equal to
100% of the aggregate principal amount of the Securities.

Cogent Communications Logo

Cogent Communications Group, Inc. will pay the aggregate purchase price solely
in cash. If all outstanding Securities are surrendered for purchase pursuant
to the Put Option, the aggregate cash purchase price will be $91,978,000, plus
unpaid interest accrued thereon to, but excluding, June 15, 2014. Holders that
do not surrender their Securities for purchase will maintain the right to
convert their Securities, subject to the terms, conditions and adjustments
applicable to the Securities.

The opportunity to surrender Securities for purchase pursuant to the Put
Option will terminate at 5:00 p.m., New York City time, on June 12, 2014. In
order to exercise the applicable Put Option, a holder must follow the
procedures set forth in the applicable notice to holders. Holders may withdraw
any Securities previously surrendered at any time prior to 5:00 p.m., New York
City time, on June 13, 2014.

Cogent Communications Group, Inc. will file a Tender Offer Statement on
Schedule TO for the Securities with the Securities and Exchange Commission. In
addition, documents specifying the terms, conditions and procedures for
surrendering and withdrawing Securities for purchase, including the notices to
holders, will be available through The Depository Trust Company and the paying
agent for the Securities, which is Wells Fargo Bank, National Association.
None of the Company, the board of directors of the Company and its employees
have made or are making any representation or recommendation as to whether any
holder should surrender any Securities.

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

About Cogent Communications

Cogent Communications (NASDAQ: CCOI) is a multinational, Tier 1
facilities-based ISP. Cogent specializes in providing businesses with high
speed Internet access, Ethernet transport, and colocation services. Cogent's
facilities-based, all-optical IP network backbone provides services in over
180 markets globally.

Cogent Communications is headquartered at 1015 31st Street, NW, Washington,
D.C. 20007. For more information, visit www.cogentco.com. Cogent
Communications can be reached in the United States at (202) 295-4200 or via
email at info@cogentco.com.

Information in this release may involve expectations, beliefs, plans,
intentions or strategies regarding the future. These forward-looking
statements involve risks and uncertainties. All forward-looking statements
included in this release are based upon information available to Cogent
Communications Group, Inc. as of the date of the release, and we assume no
obligation to update any such forward-looking statement. The statements in
this release are not guarantees of future performance and actual results could
differ materially from our current expectations. Numerous factors could cause
or contribute to such differences. Some of the factors and risks associated
with our business are discussed in Cogent's registration statements filed with
the Securities and Exchange Commission and in its other reports filed from
time to time with the SEC.

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SOURCE Cogent Communications Group, Inc.

Website: http://www.cogentco.com
Contact: For Public Relations: Travis Wachter, + 1 (202) 295-4217,
twachter@cogentco.com; For Investor Relations: + 1 (202) 295-4212,
investor.relations@cogentco.com
 
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