Innovative Communications Technologies Inc. Announces Strategic
Alliance With Global Crossing to Provide Private Telephone Networks to Businesses Nationwide
Alliance Allows Innovative to Offer Customers Reliable, Scalable, Broadband
Services With Unmatched Capability and Reach
SEATTLE, Oct. 24 /PRNewswire/ -- Innovative Communications Technologies Inc. (OTC Bulletin Board: ICTN) today announced it has signed a primary partnership with Global Crossing Ltd. (Nasdaq: GBLX), which is building and operating the world's most extensive global IP-based fiber optic network.
Global Crossing will provide Innovative Communications Technologies with point-to-point fiber-optic connections to major markets in the U.S., serving as the primary backbone provider for Innovative's proprietary Global Private Telecommunications Networks (GPTN) technology. Initially, Innovative will connect to the Global Crossing backbone in Green Bay, Houston, Indianapolis, Milwaukee, Phoenix, Portland, San Diego, Tampa and Vancouver. Innovative plans to be in all major US metropolitan regions by the end of this year and most major international markets by the end of 2001.
"Global Crossing's existing fiber-optic network allows Innovative to rapidly expand into additional market areas, as well as broaden the array of services we offer our clients such as in-bound 1-800 calls," said Barry Henthorn, CEO and president of Innovative Communications Technologies Inc.
Innovative's revolutionary GPTN makes it possible for all businesses to lease their own private telecommunications network, eliminating the concept of per minute billing by long-distance carriers. Foremost among the benefits of the GPTN to businesses is its ability to slash current long-distance charges in half while doubling its long-distance capacity.
The GPTN, developed by Henthorn, combines proprietary leading-edge packet switching technology and dedicated fiber optic networks. Innovative's Voice Over Packetization Technology (VOPT) uses packet switching instead of traditional circuit switching when routing calls. With GPTN, calls begin and end on existing local lines and use dedicated fiber-optic networks for the long-distance portion of the call.
"The GPTN radically changes the telecommunications landscape," said Henthorn. "Not only can our clients continue to use their existing equipment, but they have the advantage of paying a flat monthly rate instead of per minute long-distance billing."
"We are looking forward to working with Innovative Communications Technologies to help them expand their footprint," said Donna Reeves, Global Crossing's president -- multinational accounts division North America. "Global Crossing's independently owned global network offers Innovative and its customers flexibility and efficiency, as well as quality of service. We have the most advanced self-healing global network -- which means Innovative and its customers will have the highest levels of network reliability on a global scale."
About Innovative Communications Technologies, Inc.
Based in Seattle, Innovative Communications Technologies Inc. develops, implements, and positions Global Private Telecommunications Networks (GPTN) for businesses. The company's GPTN allows calls to begin and end on existing local lines and uses dedicated fiber-optic networks for the long distance portion of the call eliminating the need for long-distance carriers. Customers use their existing equipment and pay only a flat rate instead of per minute billing. Innovative's proprietary technology and strategic alliances with industry leaders across categories will allow the company to rapidly expand to all major U.S. metropolitan regions by the end of the year and most major international markets by the end of 2001. Innovative's proprietary technology and strategic alliances with industry leaders across categories has placed the company as a forerunner in the transformation of the telecommunications industry.
This news release contains forward-looking statements, including statements regarding Innovative's expectations about successfully expanding its GPTN business and securing significant additional customers for its services. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the loss of a large customer, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of GPTN services, the loss of any key personnel, tightening regulation of the communications technologies and channels used in our systems, our inability to introduce new services that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of existing and potential litigation, and the possibility that competitors could develop or acquire technology that could erode Innovative's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.
About Global Crossing
Global Crossing Ltd. is building and offering services over the world's most extensive global IP-based fiber optic network, which will have more than 101,000 route miles, serving five continents, 27 countries and more than 200 major cities. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Amsterdam, The Netherlands; Madison, New Jersey; Rochester, New York; Sunnyvale, California; New York, New York; and Miami, Florida. Visit Global Crossing at www.globalcrossing.com on the Web.
This press release may contain forward-looking information, including statements regarding strategic direction. These comments constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) which involve significant risks and uncertainties. Actual results may differ materially from the information discussed in these forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements are general economic conditions, competition, potential technology changes, changes in or the lack of anticipated changes in the regulatory environment in various countries, the ability to secure partnership or joint-venture relationships with other entities, the ability to raise additional capital to finance expansion, and the risks inherent in new product and service introductions and the entry into new geographic markets.
CONTACT: Barry Henthorn, CEO of Innovative Communications Technologies Inc., 206-812-3500; or Natalie Price of The Fearey Group, 206-343-1543, or nprice@feareygroup.com, for Innovative Communications Technologies Inc.; or Anita Edwards Farney of Global Crossing, 716-777-7433, or anita_farney@globalcrossing.com.
SOURCE Innovative Communications Technologies Inc.
-0- 10/24/2000
/CONTACT: Barry Henthorn, CEO of Innovative Communications Technologies Inc., 206-812-3500; or Natalie Price of The Fearey Group, 206-343-1543, or nprice@feareygroup.com, for Innovative Communications Technologies Inc.; or Anita Edwards Farney of Global Crossing, 716-777-7433, or anita_farney@globalcrossing.com/
/Web site: globalcrossing.com
(ICTN GBLX)
CO: Innovative Communications Technologies Inc.; Global Crossing Ltd. ST: Washington, California IN: CPR TLS SU: CON
quote.bloomberg.com
/C O R R E C T I O N -- Innovative Communications Technologies,
Inc./
In SFTU007, Innovative Communications Technologies, Inc. (OTC Bulletin Board: ICTN) Announces Strategic Alliance With Global Crossing (Nasdaq: GBLX) to Provide Private Telephone Networks to Businesses Nationwide, moved earlier today, we are advised by a representative of the company that the exchange for the ticker in the first paragraph should have read "(OTC: ICTN)" rather than "(OTC Bulletin Board: ICTN)" as incorrectly transmitted by PR Newswire.
-0- 10/24/2000 C SFTU007
/PRNewswire -- Oct. 24/
/Web site: globalcrossing.com
(ICTN GBLX)
CO: Innovative Communications Technologies, Inc.; Global Crossing Ltd. ST: Washington, California IN: CPR TLS SU: CON
quote.bloomberg.com |
