Level 3 Completes Two Metropolitan Fiber Optic Networks in New Jersey; Company Now Has Metro Networks in 26 U.S. Markets and 5 European Markets
BROOMFIELD, Colo., July 25 /PRNewswire/ -- Level 3 Communications, Inc. (Nasdaq: LVLT - news) today announced it has finished building two advanced metropolitan fiber optic networks in New Jersey.
Specifically, the networks will serve Newark and Jersey City, offering low-cost bandwidth services to Internet service providers and other Level 3 customers. Level 3, a broadband infrastructure company, now has built and operates metropolitan networks in 26 U.S. markets and 5 European markets.
Kevin J. O'Hara, president and chief operating officer for Level 3, said completion of the Jersey City and Newark networks will allow Level 3 to introduce ``aggressive and disruptive'' pricing into the communications marketplace in both cities.
``We believe we can enhance the competitive position of Web-centric companies in the greater New York metropolitan area by using the newest technology to continuously drop the price they pay for bandwidth,'' O'Hara said. ``Having owned networks in these markets will make it difficult for traditional networks to remain competitive.''
O'Hara noted that Level 3's approximately 21,000-mile intercity network in North America and Europe will be substantially complete by the end of the year, and that the company has recently announced plans to significantly expand services in Asia.
``Level 3 has established a strong position as a leading provider of low cost bandwidth services around the world,'' O'Hara said.
Jersey City and Newark Metropolitan Networks
The completion of Level 3's multi-conduit, continuously upgradeable metropolitan fiber networks in Jersey City and Newark allows the company to move Internet and communications traffic from leased local networks in those cities to its own advanced Internet protocol (IP) network. The new networks built by Level 3 let the company provide bandwidth services in two key New Jersey markets to a growing base of Internet and communications companies at significantly lower cost than was possible using leased metropolitan networks.
``Our continuously upgradeable network design gives Level 3 the unique ability to incorporate the newest and best fiber technology much faster and at substantially less cost than competing broadband network service providers,'' said Anthony DeMaio, Level 3 regional director of sales for Jersey City and Newark. ``As a result, Internet and communications companies providing services in the Jersey City and Newark communities can expect to receive the most reliable, scalable and cost-effective bandwidth and colocation services available.''
Level 3's customers in New Jersey include Vital Communications, an application service provider that furnishes software and network integration for more than 400 local New Jersey municipalities. Additionally, Vital Communications plans to offer Internet access and other Web services to area businesses through its subsidiary, SunSpeed Communications.
``Level 3's high-speed fiber-optic network and broadband infrastructure services enable Vital Communications to provide advanced Web-based applications that help New Jersey's local governments and other New Jersey businesses become even more efficient and successful,'' said Mike Hellekson, president and chief executive officer for Vital Communications. ``Additionally, Level 3's infrastructure allows us to offer highly-reliable and secure Internet and intranet services to businesses in New Jersey without the heavy expense of building our own network.''
In the United States, Level 3 has completed and operates metropolitan broadband networks in Atlanta, Baltimore, Boston, Chicago, Cincinnati, Dallas, Denver, Detroit, Houston, Jersey City, Long Island, Los Angeles, Miami, New York, Newark, Orlando, Phoenix, Philadelphia, San Diego, San Francisco, San Jose, Seattle, St. Louis, Stamford, Tampa and Washington, D.C. In Europe, Level 3 has completed metropolitan networks in Amsterdam, Brussels, Frankfurt, London and Paris. For more information about Level 3's global broadband infrastructure, please visit www.level3.com.
About Level 3 Communications
Level 3 (Nasdaq: LVLT - news) is a global communications and information services company offering a wide selection of IP-based services including broadband transport, colocation services, submarine transmission services and the industry's first Softswitch* based services. Level 3 offers services primarily to Web-centric companies that deliver their services over the Level 3 Network. The Level 3 Network will include metropolitan networks in 56 U.S. markets and 21 international markets connected by an approximately 16,000 mile U.S. intercity (long-distance) network, an approximately 4,750 mile European intercity network, both transpacific and transatlantic undersea cables and 6.5 million square feet of gateway and technical space. Level 3 expects to substantially complete the U.S. and first two rings of the European intercity network by the fourth quarter of 2000. Level 3 currently offers broadband infrastructure services in 38 U.S. markets and five European markets. Its Web address is www.Level3.com.
(*Softswitches are advanced software based switching systems that enable Level 3 to provide services combining the best features of the Internet and traditional telephone networks.)
Some of the statements made by Level 3 in this press release are forward- looking in nature. Actual results may differ materially from those projected in forward-looking statements. Level 3 believes that its primary risk factors include, but are not limited to: substantial capital requirements; development of effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; technology; the number and size of competitors in its markets; law and regulatory policy; and the mix of products and services offered in the company's target markets. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors.
SOURCE: Level 3 Communications, Inc. |
