ClearWorks Breaks Ground at Rock Creek
May 19, 2000
HOUSTON, May 18 /PRNewswire/ via NewsEdge
Corporation -
ClearWorks.net (OTC Bulletin Board: CLWK)
announces that its subsidiary ClearWorks
Communications, Inc. has begun the installation
of additional Fiber-To-The-Home (FTTH)
communities. The Company began the build-out
of the community including head-end facilities,
fiber installation and trenching. The Company
anticipates beginning to add subscribers of
Bundled Digital Services (BDS) in the Rock Creek
community within 120 days. The community
represents the to deliver its Bundled Digital
Services and structured wiring to 400
single-family homes, in the prestigious Rock
Creek community northwest of Houston, Texas.
The company's revenues for the life of the
project are projected to be $37 million and gross
profit is projected to be $21 million.
ClearWorks.net is one of the world's leading
providers of Fiber To The Home (FTTH) for the
delivery of Bundled Digital Services (BDS), which
will include high speed Internet connectivity,
dial-tone, digital multi-channel video, on-demand
video rental, a community Intranet and other
digital services.
"We have a tremendous backlog to address, and
we are deploying on key projects in northwest
Houston which are geographically close to one
another" stated Shannon McLeroy, President of
ClearWorks.net. "Our focus is to lay the ground
work to capture all residential developments in
that part of Houston. We are current addressing
four projects and that area, all of which have
synergies with each other. We should be able to
leverage our costs between the projects by
deploying in this manner."
The Company's ground breaking is one of several
projects that the Company is currently deploying
on in order to continue to build-out FTTH
solutions. Subscriber revenue from the
community will begin in the third quarter of 2000.
ClearWorks Home Systems will also wire the
StoneGate community homes to provide
structured wiring, security systems and high end
audio/video products that the Company offers.
The Company recently announced that it has
entered into an agreement to acquire the assets
of Home Systems Integration, Inc. (H.S.I.) a
Phoenix based home wiring and integration
company.
The Company also recently announced it has
entered into an agreement to deliver its Bundled
Digital Services provided by ClearWorks
Communications and home system products
provided by ClearWorks Home Systems into the
Team Reach community in Fort Worth. The Team
Ranch project will have approximately 700
single-family homes, thirty (30) acres of multiple
dwelling units and eighty (80) acres of
commercial property within the development.
Safe Harbor Statement Under Private Securities
Litigation Reform Act of 1995: The above
statements in regard to ClearWorks.net, Inc. and
its affiliates and subsidiaries which are not purely
historical are forward-looking statements within
the meaning of the Private Securities Litigation
Reform Act of 1995, including ClearWorks.net,
Inc.'s beliefs, expectation, hopes or intentions
regarding the future. All forward-looking
statements are made as of the date hereof and
are based on information available to the parties
as of such date. It is important to note that
actual outcome and the actual results could
differ materially from those in such
forward-looking statements. Factors that could
cause actual results to differ materially include
risks and uncertainties such as technological,
legislative, corporate and marketplace changes.
For more information on ClearWorks.net, please
visit the Company's Web site at
www.clearworks.net.
For Investor Information contact: Michael
McClere, CEO of ClearWorks.net, Inc.,
713-334-2595, Investor@clearworks.net
SOURCE ClearWorks.net, Inc.
CONTACT: Michael McClere, CEO of
ClearWorks.net, Inc., 713-334-2595, fax,
713-334-6565, Investor@clearworks.net |
