Korea Order announced!! $80M from Hansol
Stock ends day +15 3/16 at 72 7/16 (26.5%)
Next Level Announces Purchase Order For DSL Equipment
in South Korea From Hansol Electronics; Initial Order
Valued At More Than $80 Million
Shipments Begin Fourth Quarter Of This Year
ROHNERT PARK, Calif., Sep 11, 2000 (BUSINESS WIRE) -- Next Level Communications, Inc. (NASDAQ: NXTV chart, msgs), a leader in ATM/IP optical interactive DSL broadband systems, today announced that Hansol Electronics, a leading electronics distributor in Seoul, South Korea, has placed its initial order to purchase Next Level's VDSL and ADSL systems and N3 Residential Gateways. The equipment enables telecommunication service providers to offer digital video, high-speed data and telephony services over conventional copper twisted-pair telephone lines.
Under a distribution agreement between Next Level and Hansol, deliveries of Next Level's NLevel3 Unified Access Platform and N3 Residential Gateways home devices (set-top boxes), valued at over $80 million dollars, are scheduled to begin in the fourth quarter of this year. The initial order is for Next Level's access systems and line cards, representing 100,000 ADSL and 65,000 VDSL service lines. The order also includes 65,000 N3 Residential Gateways for VDSL video services.
Hansol is acting as a value-added reseller for Next Level in Korea, providing local engineering and technical support, as well as distribution services for its client companies. Next Level and Hansol are jointly participating in ongoing trials and benchmark testing processes with two major telecommunications companies in the region.
"Recent public announcements by South Korea's major telecommunications companies indicate VDSL will soon be widely used to provide digital video and data services," commented Simon Lee, division president for Hansol Electronics. "The process is well under way for approval of Next Level's technology, and we have decided to place orders with Next Level at this time to insure our clients' delivery schedules can be met in the shortest possible lead times."
"We welcome Hansol's endorsement of Next Level's VDSL and ADSL technology and are very pleased to add them to our growing list of international customers," said Pat Pachynski, senior vice president of marketing for Next Level. "We are very pleased by the growing international acceptance and demand for Next Level's advanced solution for delivering integrated voice, high-speed data and video services in a cost-efficient and timely manner."
About Next Level
Next Level is a technology leader in ATM/IP Optical Transport, Networking and Interactive DSL Broadband Systems for the delivery of voice, data and video services for communications companies. Next Level is based in Rohnert Park, Calif., and may be contacted at nlc.com.
About Hansol
Hansol Electronics is a major manufacturer and supplier of electronics equipment in South Korea, headquartered in Seoul. Hansol provides a wide range of products and services used throughout the electronics industry. Mr. Dae Jin Chon is President and CEO. Mr. Simon Lee is Division President of the TeleCommunication & Networks Division, which provides products, systems, support and systems integration services to telecommunications service companies in South Korea.
Trademarks
Next Level Communications, the NLC logo, NLevel3, NLevel3 - The Unified Access Platform, BDT, USAM, BNU, N3 Residential
Gateway and ETHERset are trademarks or registered trademarks of Next Level Communications in the United States and other countries.
This release contains "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are generally preceded by words including, without limitation, "will," "plans," "expects," "believes," "anticipates" or "intends." Investors are cautioned that all forward-looking statements in this release involve risks and uncertainties that could cause actual results to differ materially from current expectations. Factors that realistically could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in our Form 10-K for the year ended December 31, 1999.
Contact:
NLC Editorial Contacts:
Next Level Communications
Julie Carlson, 707/584-6565
jcarlson@nlc.com
or
Hansol Editorial Contacts:
Simon Lee, 011-82-2-2056-0810
or
NLC Investor Contacts:
Citigate Sard Verbinnen
Kimberly Polan or Stephanie Sorrentino
212/687-8080
kpolan@sardverb.com |
