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Technology Stocks : Nortel Networks (NT)
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To: Paul Lee who wrote (2998)7/8/1999 9:10:00 AM
From: Paul Lee  Read Replies (2) of 14638
 
Nortel Networks Get $50M Contract From
Ireland's ESAT

DUBLIN -- Ireland's Esat Telecom Group PLC (ESAT) said Thursday that it
awarded Nortel Networks (NT) of Canada a $50 million contract to provide
a high-capacity fiber optic backbone network in Ireland.

Set to go live in August, the new optical network will provide more than 60
times the present capacity of the current network, Esat said in a press release.

Esat shares on the Irish stock exchange at 1143 GMT were changing hands
at EUR21.50, unchanged from Wednesday's close.

The network upgrade will offer corporate customers an "even broader range"
of applications delivered at much higher speeds, said Esat's Chief Operating
Officer Sean Corkery.

With the new network, Esat will have one of the highest capacity networks in
Ireland, he said.

Esat currently provides integrated telecom services to more than 6,000
corporate customers. Its units are divided into business telecom company
Esat Telecom; networking systems integration company BridgeCom Group;
and it also owns 49.5% of Esat Digifone, the second mobile phone operator
in Ireland. The rest of Digifone is owned by Telenor A/S of Norway.

Nortel Networks' International Optical Networks division Vice President
Masood Tariq said the new fiber optic backbone will "place Esat far ahead of
its competitors" because it will have the first wholly optical-based network in
Ireland.

The network is capable of carrying current applications as well as those still
under development, he said.

-By Debra Marks; 3531-676-2189; dmarks@ap.org
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