Exhibit 99.1

Press Release Source: Terremark Worldwide, Inc.

Terremark Worldwide Reports Third Quarter Fiscal 2008 Results

Tuesday February 5, 4:07 pm ET

Company Exceeds Revenue and EBITDA Expectations

• Revenues for the quarter ended December 31, 2007 were $50.0 million, representing an 103% year-over-year increase and a 10% sequential increase

• EBITDA, as adjusted, for the third quarter was $11.3 million, representing a 136% year-over-year increase and a 44% sequential increase

• Income from operations for the third quarter was $4.2 million, representing a 331% year-over-year increase and a 199% sequential increase

• 62 new customers were added in the third quarter, bringing the total number of customers to 948

• Bookings were $22.8 million for the quarter ending December 31, 2007

MIAMI—(BUSINESS WIRE)—Terremark Worldwide, Inc. (NASDAQ:TMRK — News), a leading provider of managed IT infrastructure services, today reported its results for the quarter ended December 31, 2007. Terremark exceeded previously announced guidance with EBITDA, as adjusted, of $11.3 million and achieved 103% year-over-year growth with revenues of $50.0 million.

“We are pleased to report that our quality of execution remains strong and our third quarter results reflect quarterly records for revenues, bookings and EBITDA,” said Manuel D. Medina, Chairman and CEO of Terremark. “As evidenced by our strong performance and healthy pipeline, we have seen demand for our uniquely differentiated managed IT infrastructure services and network-neutral model increase. We look forward to maintaining this momentum through the balance of the fiscal year and beyond.”

“Across every metric by which we measure success, Terremark met or exceeded expectations,” said Jose Segrera, Chief Financial Officer of Terremark. “We are particularly pleased with our recurring EBITDA, as adjusted, growth and the expansion of our EBITDA, as adjusted, margin which illustrates the strength of our business model and our demonstrated ability to produce solid results.”

Q308 Financial Highlights

• Total revenues for the quarter ended December 31, 2007 were $50.0 million, exceeding previously announced guidance and representing an increase of 10% compared to the second quarter of fiscal 2008.

• EBITDA, as adjusted, for the quarter ended December 31, 2007 was $11.3 million, exceeding guidance. EBITDA, as adjusted, is defined as income (loss) from operations less depreciation, amortization, integration expenses, litigation settlement and share-based payments, including share-settled liabilities. EBITDA, as adjusted, should be considered in addition to, but not in lieu of, income (loss) from operations reported under generally accepted accounting principles (GAAP).

• Income from operations for the third quarter was $4.2 million, representing a 331% year-over-year increase and a 199% sequential increase.

• Gross profit margins, excluding depreciation and amortization, were 47% during the December 31, 2007 quarter.

• Cross connects billed to customers increased to 6,578 as of December 31, 2007 from 6,119 the previous quarter and 5,271 a year earlier, representing increases of 8% and 25%, respectively. This increase highlights the strong demand for Terremark’s network-neutral model.

• Total colocation space utilization increased to 22.0% as of December 31, 2007 from 20.9% as of September 30, 2007. Utilization of built-out colocation space increased to 70.0% as of December 31, 2007 from 66.5% as of September 30, 2007.

Business Highlights

Sales and Marketing

• During the quarter ended December 31, 2007, Terremark added 62 new customers, for a total of 948 customers at the end of the period.

• Terremark booked $22.8 million of new annual contract value, which represents the eleventh straight quarter of strong bookings.

• To date, approximately 112 customers have been deployed on Terremark’s Infinistructure™ utility computing platform.

• As part of its global branding effort, Terremark unveiled a redesigned corporate website (www.terremark.com) that integrates information on the Company’s innovative technology platform and comprehensive suite of IT infrastructure services into a unified message under the single worldwide Terremark brand name.

• Terremark also enhanced its disaster recovery and data storage team through the addition of a team of experts in IT disaster recovery, business continuity, virtualization and data storage systems.

Facilities

• Terremark’s build of the NAP of the Capital Region is proceeding on schedule and on budget. The first 50,000-square-foot pod is expected to open in June 2008. The Company also has a strong pipeline of potential customers for the project.

2

• The Company is currently in the design development phase of the planned expansion of its facility in Silicon Valley. Construction is expected to begin in the second half of the 2009 fiscal year.

Business Outlook

• For the fourth quarter of fiscal 2008, the Company expects revenue to range from $55.5 million to $58.5 million and EBITDA, as adjusted, to range from $12.3 million to $14.3 million. The revenues estimate includes approximately $9.0 million of non-recurring revenues.

• For the full 2008 fiscal year, guidance is narrowed, with revenues between $186 million to $189 million and EBITDA, as adjusted, to range from $38 million to $40 million.

• For the full 2009 fiscal year, the Company expects revenues between $250 million to $255 million and EBITDA, as adjusted, to range from $55 million to $58 million.

The foregoing statements regarding targets for the quarter and full year are forward-looking and actual results may differ materially. These are the Company’s targets, not predictions of actual performance.

Conference Call Information

• The Company will hold a conference call today, February 5, 2008 at 5:00 p.m. ET, to discuss all of the above.

• To hear the conference call live, dial 888-396-2386 (domestic) or 617-847-8712 (international) five to ten minutes before the call and reference the passcode TMRK Call.

• A simultaneous live Webcast of the call will be available on the Internet at http://www.terremark.com, under the Investor Relations heading.

• A replay of the call will be available beginning on Tuesday, February 5, 2008 at 7:00 p.m. (ET) by dialing 888-286-8010 (domestic) or 617-801-6888 (international) and providing the following replay code: 20116624. In addition, the Webcast will be available on the Company’s web site at http://www.terremark.com.

Additional information regarding the Company’s financial performance as of and for the quarter ended December 31, 2007 and a comparison to the fiscal year and quarter ended December 31, 2006 can be found on the attached balance sheet and statement of operations and in the Company’s Quarterly Report on Form 10-Q.

About Terremark Worldwide, Inc.

Terremark Worldwide, Inc. (NASDAQ:TMRK — News) is a leading global provider of managed IT infrastructure services delivered on the industry’s most robust and advanced operations platform. Leveraging datacenters in the United States, Europe and Latin America and access to massive and diverse network connectivity, Terremark delivers a comprehensive suite of managed solutions including managed hosting, colocation, connectivity and security services to government and enterprise customers. Terremark’s acclaimed Infinistructure^™ utility computing architecture has redefined industry standards for scalable and flexible computing infrastructure and its DigitalOps^® service platform combines end-to-end systems management workflow with a comprehensive customer portal. More information about Terremark Worldwide can be found at www.terremark.com.

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, ability to cross-sell across an acquired customer base, ability to increase revenue yields within facilities, ability to refinance existing debt, 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, the successful integration of operations of acquired companies. Terremark does not assume any obligation to update these forward-looking statements.

3

Non-GAAP Financial Measures

Terremark continues to provide all information required in accordance with generally accepted accounting principles (GAAP), but it believes that evaluating its ongoing operating results may be difficult if limited to reviewing only GAAP financial measures. Accordingly, Terremark uses non-GAAP financial measures, such as EBITDA, as adjusted. In presenting these non-GAAP financial measures, Terremark excludes certain items that it believes are not good indicators of the Company’s current or future operating performance. These items are depreciation, amortization, integration expenses, litigation settlement and share-based payments, including share-settled liabilities.

Terremark intends to calculate the various non-GAAP financial measures in future periods on a basis consistent with its calculation of those measures for the three and nine months ended December 31, 2007 and 2006 and the three months ended September 30, 2007, presented within this press release.

4

Terremark Worldwide, Inc.

Condensed Consolidated Statements of Operations

	For the Three Months Ended
	December 31,			September 30,			December 31,
	2007			2007			2006
	(unaudited)			(unaudited)			(unaudited)
Revenues	$	49,963,582		$	45,368,485		$	24,668,688
Expenses
Cost of revenues, excluding depreciation		26,358,297			25,304,099			12,972,865
General and administrative		8,634,422			8,515,842			4,909,434
Sales and marketing		5,626,935			5,490,687			3,092,270
Depreciation and amortization		5,095,586			4,639,156			2,709,116
Operating expenses		45,715,240			43,949,784			23,683,685
Income from operations		4,248,342			1,418,701			985,003
Other (expenses) income
Change in fair value of derivatives embedded within convertible debt		(180,257	)		91,103			(4,985,854	)
Interest expense		(9,153,055	)		(8,700,169	)		(6,908,695	)
Interest income		1,718,353			1,397,534			268,690
Other financing charges		—			(1,173,079	)		—
Loss on early extinguishment of debt		—			(8,451,131	)		—
Total other expenses		(7,614,959	)		(16,835,742	)		(11,625,859	)
Loss before income taxes		(3,366,617	)		(15,417,041	)		(10,640,856	)
Income taxes		123,877			102,846			135,000
Net loss		(3,490,494	)		(15,519,887	)		(10,775,856	)
Preferred dividend		(195,250	)		(201,438	)		(161,700	)
Net loss attributable to common stockholders	$	(3,685,744	)	$	(15,721,325	)	$	(10,937,556	)
Net loss per common share:
Basic and diluted	$	(0.06	)	$	(0.27	)	$	(0.25	)
Weighted average common shares outstanding - basic and diluted		58,580,893			58,377,364			43,937,776
Reconciliation of Income from Operations to EBITDA, as adjusted:
Income from operations		4,248,342			1,418,701			985,003
Depreciation and amortization		5,095,586			4,639,156			2,709,116
Integration expenses		355,384			649,096			—
Litigation settlement		540,000			—			—
Share-based payments, including share-settled liabilities		1,028,199			1,093,980			1,083,510
EBITDA, as adjusted	$	11,267,511		$	7,800,933		$	4,777,629
Calculation of Gross Profit Margin:
Operating revenues		49,963,582			45,368,485			24,668,688
Less:
Cost of revenues, excluding depreciation		26,358,297			25,304,099			12,972,865
Gross profit	$	23,605,285		$	20,064,386		$	11,695,823
Gross Profit Margin as a % of operating revenues		47	%		44	%		47	%

5

Terremark Worldwide, Inc.

Condensed Consolidated Statements of Operations

	For the Nine Months Ended
	December 31,			December 31,
	2007			2006
	(unaudited)			(unaudited)
Revenues	$	130,573,357		$	70,256,172
Expenses
Cost of revenues, excluding depreciation		70,610,042			39,432,627
General and administrative		23,488,289			12,571,132
Sales and marketing		14,959,598			8,353,144
Depreciation and amortization		13,442,547			8,104,675
Operating expenses		122,500,476			68,461,578
Income from operations		8,072,881			1,794,594
Other (expenses) income
Change in fair value of derivatives embedded within convertible debt		1,424,187			7,232,321
Interest expense		(24,663,278	)		(20,397,985	)
Interest income		4,038,217			815,670
Other financing charges		(1,173,079	)		—
Loss on early extinguishment of debt		(26,949,577	)		—
Total other expenses		(47,323,530	)		(12,349,994	)
Loss before income taxes		(39,250,649	)		(10,555,400	)
Income taxes		510,723			135,000
Net loss		(39,761,372	)		(10,690,400	)
Preferred dividend		(598,813	)		(487,500	)
Net loss attributable to common stockholders	$	(40,360,185	)	$	(11,177,900	)
Net loss per common share:
Basic and diluted	$	(0.70	)	$	(0.26	)
Weighted average common shares outstanding — basic and diluted		58,044,864			43,778,619
Reconciliation of Income from Operations to EBITDA, as adjusted:
Income from operations		8,072,881			1,794,594
Depreciation and amortization		13,442,547			8,104,675
Integration expenses		1,004,480			—
Litigation settlement		540,000			—
Share-based payments, including share-settled liabilities		2,569,941			1,018,667
EBITDA, as adjusted	$	25,629,849		$	10,917,936
Calculation of Gross Profit Margin:
Operating revenues		130,573,357			70,256,172
Less:
Cost of revenues, excluding depreciation		70,610,042			39,432,627
Gross profit	$	59,963,315		$	30,823,545
Gross Profit Margin as a % of operating revenues		46	%		44	%

6

Terremark Worldwide, Inc.
Condensed Consolidated Balance Sheets

	December 31,			September 30,			March 31,
	2007			2007			2007
	(unaudited)			(unaudited)			(unaudited)
Assets
Current assets
Cash and cash equivalents	$	133,667,186		$	144,044,438		$	105,090,779
Restricted cash		—			—			832,178
Accounts receivable, net		32,311,286			34,124,852			23,586,471
Prepaid expenses and other current assets		8,769,214			8,541,113			7,701,438
Total current assets		174,747,686			186,710,403			137,210,866
Property and equipment, net		185,779,864			169,116,645			137,936,954
Debt issuance costs, net		10,313,198			10,664,763			5,898,355
Other assets		7,649,834			7,806,605			7,042,671
Capital lease receivable, net		170,275			597,788			1,885,646
Intangibles, net		16,380,526			16,822,462			2,900,000
Goodwill		82,954,661			84,190,042			16,771,189
Total assets	$	477,996,044		$	475,908,708		$	309,645,681
Liabilities and Stockholder’s Equity
Current liabilities
Current portion of debt and capital lease obligations	$	3,045,047		$	3,192,411		$	2,221,677
Accounts payable and other current liabilities		37,101,729			35,543,998			33,415,886
Interest payable		597,999			2,323,163			3,663,248
Total current liabilities		40,146,776			38,736,409			35,637,563
Mortgage payable, less current portion		248,372,253			247,509,597			45,531,211
Convertible debt		85,562,769			84,907,972			69,914,065
Derivatives embedded within convertible debt, at estimated fair value		—			—			16,796,865
Notes payable, less current portion		—			—			42,279,711
Deferred rent and other liabilities		7,226,270			7,203,280			5,245,487
Deferred revenue		6,607,588			5,805,095			4,742,258
Total liabilities		387,915,656			384,162,353			220,147,160
Commitments and contingencies		—			—			—
Stockholders’ equity Series I convertible preferred stock		1			1			1
Common stock		58,601			58,481			55,813
Common stock warrants		11,216,638			11,216,638			12,596,638
Additional paid-in capital		417,802,637			416,532,327			377,138,006
Accumulated deficit		(339,958,933	)		(336,469,160	)		(300,197,561	)
Accumulated other comprehensive income		1,068,230			605,390			89,991
Note receivable		(106,786	)		(197,322	)		(184,367	)
Total stockholders’ equity		90,080,388			91,746,355			89,498,521
Total liabilities and stockholders’ equity	$	477,996,044		$	475,908,708		$	309,645,681

Contact:

Terremark Worldwide, Inc., Miami
Media Relations
Xavier Gonzalez, 305-860-7856
xgonzalez@terremark.com
or
Investor Relations
Hunter Blankenbaker, 305-860-7822
hblankenbaker@terremark.com

7