






                                 Exhibit (a)(3)



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SAN FRANCISCO, July 9, 2003/PRNewswire/ - Affiliates of Sutter Capital
Management, LLC today offered to acquire 100% of the outstanding Convertible
Subordinated Notes of Allied Riser Communications Corp., a wholly owned
subsidiary of Cogent Communications, Inc., (AMEX: "COI") for $80.00 per Note. A
copy of the offer may be obtained from the SEC's website at www.edgar.sec.gov,
or from Sutter by calling 415 788-1441 or emailing karen@suttercapital.com

This announcement is neither an offer to buy nor a solicitation of an offer to
sell Notes. The Offer is being made solely by the formal Offer to Purchase and
is not being made to, nor will tenders be accepted from or on behalf of,
Noteholders residing in any jurisdiction in which making or accepting the Offer
would violate that jurisdiction's laws. In those jurisdictions where the
securities, blue sky or other laws require the Offer to be made by a licensed
broker or dealer, the Offer shall be deemed to be made on behalf of Purchaser
only by one or more registered dealers licensed under the laws of such
jurisdiction.


                      NOTICE OF OFFER TO PURCHASE FOR CASH:

  Any and all Convertible Subordinated 7.5% Notes due 2007 (CUSIP#019 496 AB4)
                                       of
    ALLIED RISER COMMUNICATIONS CORP., a Delaware corporation (the "Company")
                          at a price of $80.00 per Note
                                       by
                   SCM ACQUISITION FUND, LLC (the "Purchaser")

The Purchaser is offering to purchase for cash any and all Convertible
Subordinated 7.5% Notes due 2007, PAR VALUE $1,000 (the "Notes") of the Company,
at a price of $80.00 per Note upon the terms and subject to the conditions set
forth in Purchaser's Offer to Purchase and in the related Letter of Transmittal
for the offer (which together constitute the "Offer" and the "Tender Offer
Documents").

THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT 12:00 MIDNIGHT, PACIFIC DAYLIGHT TIME,
ON AUGUST 15, 2003, UNLESS THE OFFER IS EXTENDED.

Funding for the purchase of the Notes will be provided through the Purchaser'
existing working capital and members' capital contributions. The Offer is not
made for the purpose of acquiring or influencing control of the business of the
issuer. The Offer will expire at 12:00 midnight, Pacific Standard Time on August
15, 2003, unless and until Purchaser, in its sole discretion, shall have
extended the period of time for which the Offer is open (such date and time, as
extended the "Expiration Date"). The Purchaser will not provide a subsequent
offering period following the Expiration Date. If the Purchaser makes a material
change in the terms of the Offer, or if they waive a material condition to the
Offer, Purchaser will extend the Offer and disseminate additional tender offer
materials to the extent required by Rules 14d-4(c) and 14d-6(d) under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"). The minimum
period during which the Offer must remain open following any material change in
the terms of the Offer, other than a change in price or a change in percentage
of securities sought, will depend upon the facts and circumstances including the
materiality of the change with respect to a change in price or, subject to
certain limitations, or a change in the percentage of securities ought. A
minimum of ten business days from the date of such change is generally required
to allow for adequate dissemination to Noteholders. Accordingly, if prior to the
Expiration Date, the Purchaser increases (other than increases of not more than
two percent of the outstanding Notes) or decreases the number of Notes being
sought, or increases or decreases the consideration offered pursuant to the
Offer, and if the Offer is scheduled to expire at any time earlier than the
period ending on the tenth business day from the date that notice of such
increase or decrease is first published, sent or given to Noteholders, the Offer
will be extended at least until the expiration of such ten business days. For
purposes of the Offer, a "business day" means any day other than a Saturday,
Sunday or federal holiday and consists of the time period from 12:01 a.m.
through 12:00 midnight, Pacific Standard Time. In all cases payment for the
Notes purchased pursuant to the Offer will be made only after timely receipt of
the Letters of Transmittal (or facsimiles thereof), properly completed and duly
executed, with any required signature guarantees, and any other documents
required by such Letters of Transmittal.


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Tenders of Notes made pursuant to the Offer is irrevocable, except that
Noteholders who tender their Notes in response to the Offer will have the right
to withdraw their tendered Notes at any time prior to the Expiration Date by
sending to Purchaser a written or facsimile transmission notice of withdrawal
identifying the name of the person who tendered Notes to be withdrawn, signed by
the same persons and in the same manner as the Letter of Transmittal tendering
the Notes to be withdrawn. In addition, tendered Notes may be withdrawn at any
time on or after August 15, 2003, unless the tender has theretofore been
accepted for payment as provided above. The terms of the Offer are more fully
set forth in the formal Tender Offer Documents which are available from
Purchaser at the Purchaser' expense. The Offer contains terms and conditions and
the information required by Rule 14d-6(d)(1) under the Exchange Act which are
incorporated herein by reference. The Tender Offer Documents contain important
information which should be read carefully before any decision is made with
respect to the Offer.

The Tender Offer Documents may be obtained by written request to Purchaser or as
set forth below. A request has been made to the Company pursuant to Rule 14d-5
under the Exchange Act for the use of its list of Noteholders for the purpose of
disseminating the Offer to Noteholders. Upon compliance by the Company with such
request, the Tender Offer Documents and, if required, other relevant materials
will be mailed at the Purchaser's expense to record holders of Notes, brokers,
banks and similar persons whose names appear or whose nominee appears on the
list of securities holders, or persons who are listed as participants in a
clearing agency's security position listing, for subsequent transmittal to
beneficial owners of Notes.

For Copies of the Tender Offer Documents Call Purchaser at 415-788-1441, or Make
a Written Request Addressed to Sutter Capital Management, LLC, 150 Post Street,
Suite 405, San Francisco, California 94108, Facsimile: (415) 788-1515


                                  July 9, 2003









