Exhibit 99.1

Global Telecom & Technology Reports Fourth Quarter and Full Year 2010 Results

Full Year Revenue Increases 26% to $81.1 Million and Adjusted EBITDA Increases 58% to $6.7 Million

Net Income Triples to $1.4 Million and $0.08 Earnings per Share

Strengthens Balance Sheet and Reduces Cost of Capital with 2010 Financing

MCLEAN, Va.--(BUSINESS WIRE)--March 9, 2011--Global Telecom & Technology, Inc. (“GTT”), (OTCBB: GTLT), a global telecommunications carrier and leading network integrator serving the data communications needs of large enterprise, government and carrier clients, announced today financial results for the fourth quarter and year ended December 31, 2010. Financial highlights and historical comparisons include (dollars in millions except per share data):

* See “Annex A: Non-GAAP Financial Information—Adjusted EBITDA” for more information regarding the computation of Adjusted EBITDA.

Balance sheet and capital structure highlights include:

• Reduced current liabilities by 42 percent, or $17.9 million, including a $10.2 million reduction in short term debt.
• Refinanced maturing seller debt with new $15 million credit facility at reduced cost, including a 5-year $10 million term loan and a $5 million 2-year revolving credit facility.
• Raised approximately $2.0 million in new equity capital.

“GTT made significant strides during 2010 as evidenced by strong year-over-year improvement in all of our key financial measures,” said Richard D. Calder Jr., President and Chief Executive Officer. “Revenue grew 26 percent and Adjusted EBITDA grew 58 percent over the full year 2009. For the fourth quarter, we grew Revenue 27 percent and Adjusted EBITDA 39 percent over the fourth quarter of 2009.

“In the past year, we successfully integrated an acquisition, expanded our core network assets, grew our distribution channels, and completed our strongest sales year on record. We are also happy to announce that GTT is a prime sponsor of International Telecoms Week (ITW) 2011 (May 23 – 25, 2011) in Washington, D.C.”

“In 2010, we strengthened our balance sheet by retiring our legacy short-term debt, secured significant capital at a very attractive cost and continued to drive top and bottom-line growth, including strong growth in earnings per share to $0.08 per share,” said Eric Swank, Chief Financial Officer. “With an improved balance sheet, strong Adjusted EBITDA results and the high conversion of EBITDA to cash flow inherent in our business model, we have positioned the Company to achieve our growth objectives. As we move forward in 2011, we are very excited about keeping our positive momentum going throughout the year.”

Conference Call Information

GTT will hold a conference call on Thursday, March 10, 2011 at 10:00 a.m. Eastern Time (7:00 a.m. PT) to discuss its results for the fourth quarter and year ended December 31, 2010. To participate in the live conference call, interested parties may dial 1.888.339.3503 or +1.719.457.2638 and enter passcode 3036260. A simultaneous live webcast of the call will be available over the Internet at www.gt-t.net, under the Investor Relations section of the site. A replay of the call will be available for one month. Interested parties can access the call replay by dialing 1.888.203.1112 or +1.719.457.0820 and using the passcode 3036260. In addition, a replay of the webcast will be available on GTT’s website at www.gt-t.net.

About GTT

GTT is a global telecommunications carrier and leading network integrator serving the data communications needs of large enterprise, government and carrier clients in over 80 countries. We combine our own network assets with the networks of over 800 suppliers worldwide to deliver cost-effective, scalable solutions supporting each client’s unique requirements. Through our proprietary Client Management Database (CMD), GTT provides streamlined service design and quotation, rapid service implementation, and global 24x7 monitoring and support. GTT is headquartered in the Washington, DC metro region with offices in London, Dusseldorf, and Denver. For more information visit the GTT website at www.gt-t.net.

Forward-Looking Statements

This release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect the current views of Global Telecom & Technology, Inc., with respect to current events and financial performance. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “could,” “should,” and “continue” or similar words. These forward-looking statements may also use different phrases. From time to time, Global Telecom & Technology, Inc., which we refer to as “we”, “us” or “our” and in some cases, “GTT” or the “Company”, also provides forward-looking statements in other materials GTT releases to the public or files with the United States Securities & Exchange Commission (“SEC”), as well as oral forward-looking statements. You should consult any further disclosures on related subjects in our quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC. Such forward-looking statements are and will be subject to many risks, uncertainties and factors relating to our operations and the business environment that may cause our actual results to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause GTT’s actual results to differ materially from these forward-looking statements include, but are not limited to, the following: our ability to obtain capital; our ability to develop and market new products and services that meet customer demands and generate acceptable margins; our reliance on several large customers; our ability to negotiate and enter into acceptable contract terms with our suppliers; our ability to attract and retain qualified management and other personnel; competition in the industry in which we do business; failure of the third-party communications networks on which we depend; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged; our ability to maintain our databases, management systems and other intellectual property; our ability to maintain adequate liquidity and produce sufficient cash flow to fund our capital expenditures and debt service; technological developments and changes in the industry; our ability to complete acquisitions or divestitures and to integrate any business or operation acquired; our ability to overcome significant operating losses; and general economic conditions. Additional information concerning these and other important factors can be found under the heading "Risk Factors" in GTT's annual and quarterly reports filed with the Securities and Exchange Commission including, but not limited to, its Annual Report on Form 10-K. Statements in this release should be evaluated in light of these important factors.

ANNEX A: Non-GAAP Financial Information

Adjusted EBITDA

Adjusted EBITDA represents operating income before depreciation and amortization on a non-GAAP (accounting principles generally accepted in the United States of America) combined basis for the periods presented, and adjusted to exclude certain one-time expenses including costs associated with employee terminations and other non-recurring items and non-cash compensation. GTT presents Adjusted EBITDA as a supplemental measure of GTT’s performance. GTT also presents Adjusted EBITDA because GTT believes it is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in its industry and in measuring the ability of issuers to meet debt service obligations.

In evaluating Adjusted EBITDA, you should be aware that in the future GTT may incur expenses similar to the adjustments in this presentation. GTT’s presentation of Adjusted EBITDA should not be construed as an inference that GTT’s future results will be unaffected by unusual or non-recurring items. Adjusted EBITDA is not a measurement of GTT’s financial performance under GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP.

The following is a reconciliation of Adjusted EBITDA to operating income (amounts in thousands):

CONTACT:
For GTT media inquiries, please contact:
Michelle Reilly
1-703-442-5582
michelle.reilly@gt-t.net
or
For GTT investor relations inquiries, please contact:
Eric Swank
Chief Financial Officer
1-703-442-5529
eric.swank@gt-t.net