INVT - InvestAmerica, Inc. -- Optica Communications Group Inc. -- Updates Progress on Equipment Acquisition
PARK CITY, Utah, Aug 10, 2000 (BUSINESS WIRE) -- InvestAmerica, Inc. (Optica Communications Group Inc.) (OTCBB:INVT) announced today it has completed initial evaluations of all vendor proposals received from it's Request for Information (RFI). "We wish to thank all participating vendors for their efforts and submissions," stated Neil Wieler, Director of Technology Development. "The result of these initial evaluations is a short list of six vendor candidates in two categories. Corvis, Nortel Networks and Sycamore are the three vendors under consideration for the Optical DWDM (Dense Wave Division Multiplexing) equipment while Lucent, Juniper and 3Com round out the IP equipment candidates. The final selection process, now underway, involves site visits and definitive contract discussions with each remaining vendor candidate. Our decision has been a difficult one given the extremely high quality responses and we have extended our timeframe to allow extra time to thoroughly evaluate each vendor. The two successful companies will be announced within six weeks. The resulting purchase contracts totaling $500,000,000 will be delivered over a two year period." Wieler added, "Our network, when deployed, will be the most technologically advanced network in North America bringing substantial cost benefits to our customers." Optica Communications Inc. is a developing, international communications company, creating a global fiber optic network, to deliver advanced IP and ATM network solutions. We are a carriers' carrier providing fiber optic-based bandwidth and bandwidth-derived services to retail carriers for use in their backbone networks. The initial North American network will consist of 22,000 route miles and will be operational within the first quarter of 2002, with service on select routes during 2001. For further information, please direct all inquiries to: Brian Kitts: Telephone: 435/615-8801, InvestAmerica Inc. D.B. (Doug) Thomas, 604/861-9660, Optica Communications Inc. opticacommunication.com mailto:dthomas@opticacommunication.com Statements about the company's future expectations and all other statements in this press release other than historical facts and "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. The company intends that such "forward-looking statements" be subject to the safe harbors created thereby. Since these statements involve certain risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. CONTACT: InvestAmerica Inc. Brian Kitts, 435/615-8801 or Optica Communications Inc. D.B.(Doug) Thomas, 604/861-9660, dthomas@opticacommunication.com opticacommunication.com |