BELLEVUE, WASH - OCTOBER 16, 2000 - Advanced Radio Telecom Corp. (ART)
[NASDAQ:ARTT], a leading broadband wireless Internet Protocol (IP) access
services provider, today ART confirmed that on October 13, 2000, it filed a
shelf registration statement for the resale of up to approximately 9.7
million shares of its common stock by certain of its shareholders. All of
these shares were issued by ART as consideration for its previously
announced acquisitions of licenses from BroadStream Communications
Corporation and its affiliates and from Bachow Communications, Inc., both of
which were closed in August 2000. The filing was initiated by the sellers
exercise of rights granted to them in connection with those acquisitions.
None of these shares are being sold for the account of ART. However, Commco
Technology LLC, a successor to Broadstream Communications, may use a portion
of the proceeds to repay an approximately $13 million loan made by the
Company and which is due on November 22, 2000. Registration of these shares
does not necessarily mean that the selling shareholders will sell all or any
of the shares.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time that the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. A
copy of a prospectus relating to these securities may be obtained from the
Company at 500-108th Ave. N.E., Suite 2600, Bellevue, WA., 98004, Attn:
Brian Heagler.
About ART
Advanced Radio Telecom Corp. (ART) is a Cisco Powered Network Service*
provider headquartered in Bellevue, Wash. The company provides broadband
fixed wireless Internet Protocol (IP) services to Internet Service Providers
(ISPs), Application Service Providers (ASPs) and interexchange carriers
(IXCs). ART offers a point-to-consecutive-point ring design with speeds up
to 100 Mbps, as well as dedicated, protected and redundant OC-3 connectivity
with speeds up to 155 Mbps. Using ART's highly scalable network
architecture, ASPs, ISPs and IXCs can extend Local Area Networks to Wide
Area Networks at native LAN speeds for their own end-user customers. ART
provides this last-mile connectivity without the delay and disruption that
can occur with phone company hook-up or fiber optic installation.
ART currently owns and operates broadband wireless metropolitan area
networks in Dallas/Ft. Worth, Houston, Los Angeles, Phoenix, Portland, San
Diego, San Jose, Seattle and Washington, D.C. The company plans to initiate
service in a total of 12 U.S. markets before year-end and in 40 U.S. markets
over the next two years. ART has a nationwide footprint of 39GHz spectrum
licenses in the United States, and owns 26GHz and/or 39GHz spectrum licenses
in the United Kingdom and several Scandinavian countries. For more
information, visit ART's website at www.ipsp.com <http://www.ipsp.com>.
The above information includes forward-looking statements regarding services
and network expansion. These statements are not guarantees of future
performance. Known and unknown risks, uncertainties, and other factors,
including without limitation, final FCC approval, capital requirements and
other financial risks, customer demand, technological risks, management of
growth, competition and government regulation may cause actual results to
differ materially from the future results implied or expressed in the
forward looking statements. Additional information about the most
significant of such factors is set forth in ART's most recent annual report
on Form 10-K. The Company does not undertake to update or revise its
forward-looking statements publicly even if experience or future changes
make clear that any projected results expressed or implied herein will not
be realized.
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