We should KEEP moving into the 60's now.
Fez
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Global Crossing Completes Construction of Phase One of 7,200-Kilometre, 13-City European Terrestrial Network
LONDON--(BUSINESS WIRE)--Dec. 14, 1999--Global Crossing Ltd.
(Nasdaq:GBLX):
-- Phase One of IP-based fibre optic Pan European Crossing completed construction in record time.
-- Will connect key European cities in the UK, Netherlands, Belgium, Denmark, France, and Germany with North America, Asia, and South America.
-- Three rings completed -- 13 cities over a 7,200-kilometre network.
Global Crossing Ltd. (Nasdaq:GBLX), which is building and operating the world's most advanced global IP-based fibre optic network, today announced that it has completed construction and is finishing final testing of the first phase of its Pan European Crossing (PEC) network. PEC will provide ultra-high bandwidth services linking major European cities with North America and Asia and, next
year, with South America. This first phase includes three rings connecting 13 cities in the UK, Netherlands, Belgium, Denmark, France and Germany. A fourth ring is expected to be ready for service by 2nd Qtr 2000, extending the network to a further six cities in Germany. A fifth ring reaching an additional five cities through France, Italy and Switzerland is scheduled to be on-line by 3rd Qtr 2000.
Additional networks for Scandinavia, Spain, Italy and Central Europe are being considered. By 2001, PEC should represent a total and fully funded network of $1.3 billion linking 32 cities in 11 countries.
Bob Annunziata, CEO of Global Crossing said, "Our newly created IP terrestrial network will keep pace with the phenomenal growth of the vast European telecoms market, largely driven by exploding Internet usage. Representing around 35% of global traffic, the European telecoms market will be worth in excess of $330 billion by 2005, a 6% year-on-year growth."
First customers commit
In Europe, a number of major carriers, including Swisscom and Cable & Wireless, have entrusted critical elements of their European networks to Global Crossing by purchasing dark fibre (and related co-location and maintenance) on the PEC network from Global Crossing.
Daniel Mignot, Swisscom Head of International Network Services said, "We investigated many suppliers and found Global Crossing the most solid in terms of relationship and reliability. We are confident that our service levels will be fulfilled and maintained over the lifetime of our contract. With Global Crossing we will never run out
of capacity."
For Cable & Wireless, Andrew McGrath, Customer Director, Global Carriers, added, "Purchasing fibre in continental Europe from Global Crossing has enabled Cable & Wireless to build a low cost, resilient network to support unprecedented demand for IP and bandwidth services from retail and carrier customers. Global Crossing's fibre build
programme, coupled with Cable & Wireless' network management and customer service capability, is a winning formula."
Linking Europe to America and Asia
Added Annunziata: "The fully funded PEC network will link 24 major European cities with our comprehensive UK IP network. PEC will also connect, through Atlantic Crossing, to our North American and South American networks, and through Pacific Crossing, on to Asia. In parallel, we are well advanced in developing city rings that will integrate new `last-mile' technologies for true building-to-building
connectivity, moving closer to our customers to provide seamless connectivity worldwide."
Wim Huisman, President of Global Crossing Europe said, "In October last year when we announced PEC network, we committed to have the first three rings ready for service before the end of this millennium. We are delivering precisely on schedule and I believe these substantial new contracts validate Global Crossing's position as the world's preferred carrier-grade quality network."
PEC planned roll out
Year Countries Cities
Q4 1999 Phase 1: rings UK London
1,2,3 Belgium Brussels, Antwerp
Netherlands Amsterdam, Rotterdam
Denmark Copenhagen
France Paris, Strasbourg
Germany Cologne, Dusseldorf,
Frankfurt, Hannover,
Hamburg
Q1 2000 Ring 4 Germany Berlin, Dresden, Leipzig,
Nuremberg, Munich,
Stuttgart
Q3 2000 Ring 5 France Lyon, Marseilles
Italy Milan, Turin
Switzerland Zurich
Managing global communications from Europe
The new Global Crossing Network Centre (GCNC), situated in the heart of the UK telecoms market in London's Docklands, includes Global Crossing's Global Network Operations Centre (GNOC), designed and equipped to manage and maintain the state-of-the-art terrestrial and
subsea connections of its worldwide IP network. Global Crossing's range of value-added services includes telehouses and Global Data Centres with Web hosting facilities.
About Global Crossing
Global Crossing Ltd. (Nasdaq:GBLX) is building and offering
services over the world's first global fiber optic network with 97,200
announced route miles, serving five continents, 24 countries and more
than 200 major cities. The Global Crossing Network and its
telecommunications and Internet product offerings will be available to
over 80% of the world's international communications traffic. Global
Crossing hosts more than 300 of the top Internet brands in its Global
Centers. Among the brands are some of the largest and most densely
trafficked sites on the Web, including Yahoo!, The Motley Fool, Ziff
Davis, MP3.com and eToys. Global Crossing's operations are
headquartered in Hamilton, Bermuda, with principal offices in Los
Angeles, California; London, England; Morristown, New Jersey; and,
Rochester, New York.
Statements made in this press release that state Global Crossing
Ltd.'s or management's intentions, beliefs, expectations, or
predictions for the future are forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause Global Crossing Ltd.'s
actual results to differ materially from those projected in such
forward-looking statements. These risks, assumptions and uncertainties
include: the ability to complete systems within currently estimated
time frames and budgets; the ability to compete effectively in a
rapidly evolving and price competitive marketplace; changes in the
nature of telecommunications regulation in the United States and other
countries; changes in business strategy; the successful integration of
newly acquired businesses; the impact of technological change; and
other risks referenced from time to time in Global Crossing Ltd.'s
filings with the Securities and Exchange Commission.
--30--mk/la* ecq/la
CONTACT:
For Global Crossing
Investor Contacts
Roland Rudd, 44 171 251 3801 (London)
ruddr@finsbury.com
Jensen Chow, 310/385-5283 (Los Angeles)
jchow@globalcrossing.com
Media Contacts (London)
Jim Collins, 44 207 494-8900
james.collins@globalcrossing.com
David Cunliffe/Tamara Morris, 44 171 580 0222
davidc@keycommunications.co.uk
Justine Samuel, 44 171 251 3801
Justine@finsbury.com
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