COVD....News Out...Could Provide Gapmunition
Covad Chosen for MindSpring's National DSL Launch
SANTA CLARA, Calif.--(BUSINESS WIRE)--June 21, 1999--Covad Communications (Nasdaq:COVD), a leading broadband access company, announced today that MindSpring Enterprises, Inc. (Nasdaq:MSPG) has signed an agreement where Covad is the preferred provider of digital subscriber line (DSL) services to business customers nationwide.
MindSpring, a national Internet service provider (ISP) with over one million customers, and Covad also agreed to co-marketing activities, including advertising and web site support.
MindSpring recently launched MindSpring Biz, a comprehensive Internet package for the small business market, that will exclusively feature Covad's DSL services. MindSpring Biz is a complete package of Internet access and web-based tools for small businesses, and has the ability to easily scale to accommodate a growing business's needs. With the new MindSpring Biz solution, small businesses have a one-stop resource for everything they need to be successful online, from dedicated Internet access to web hosting, web design and electronic commerce.
Covad currently offers DSL-based high-speed Internet access in 33 metropolitan statistical areas (MSAs) and plans to expand availability of its service to 51 MSAs by the end of the year. The major national regions include San Francisco, Los Angeles, San Diego, Sacramento, Seattle, Boston, New York, Washington, DC, Philadelphia, Baltimore, Chicago, Atlanta and Detroit.
Covad's DSL technology allows for high-speed Internet access using the copper phone wires found in nearly all businesses and homes today. Once installed, the high-speed connection is secure, "always on" and always available. This removes the need to dial in each time a user wants to browse the Internet or download email, eliminating delays, busy signals and non-connects. Covad's service provides data connections up to 50 times faster than 28.8K modems for businesses.
About Covad
Covad Communications Company is a leading high-speed Internet and network access provider offering DSL services through Internet Service Providers to small- and medium-sized businesses and consumers, and sold directly to large enterprise customers. Covad's service is on-line in 13 regions currently encompassing 33 Metropolitan Statistical Areas.
Service is available in the San Francisco Bay Area, Los Angeles, Seattle, Sacramento, New York, Boston, Washington, D.C., Baltimore, Chicago, Philadelphia, San Diego, Atlanta and Detroit metropolitan areas. Covad has announced plans to deploy its networks in a total of 22 regions, encompassing 51 metropolitan statistical areas nationwide. Covad Communications Company and its affiliates doing business as Covad Communications Company, are wholly owned subsidiaries of Covad Communications Group, Inc. (Nasdaq:COVD). Corporate headquarters is located at 2330 Central Expressway, Santa Clara, CA, 95050. Telephone: 1-888-GO-COVAD; Web Site: www.covad.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995:
The statements contained in this release, which are not historical facts may be deemed to contain forward-looking statements, including, but not limited to, deployment of the Company's network in new and existing regions and the timing and breadth of coverage in each region. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the Company's dependence on strategic third parties to market and resell its services, intense competition for the Company's service offerings, dependence on growth in demand for DSL-based services, availability of collocation space and facilities, ability to manage and scale operations, and other risks and uncertainties detailed in the Company's Securities and Exchange Commission filings. The Company disclaims any obligation to update information contained in any forward-looking statement.
CONTACT:
Covad Communications
Martha Sessums, 408/844-7508
msessums@covad.com
or
Nick Kormeluk, 408/844-7457
InvestorRelations@covad.com |
