News for LU
PLD TELEKOM ANNOUNCES SIGNIFICANT OPERATIONAL DEVELOPMENTS
100,000th Line in PeterStar; Further Dividend from BECET;
Teleport-TP Adds to International and Domestic Service Capabilities
NEW YORK, Dec. 15 /PRNewswire/ -- PLD Telekom Inc (Nasdaq: PLDI;
Toronto Stock Exchange: PLD) today reported significant operational
developments in its key operating businesses. In making these
announcements James Hatt, Chairman and Chief Executive Officer, said:
"As we approach the end of another year of strong growth in all our
operating businesses, we felt it timely to give investors an update on
a number of exciting operational developments which have occurred
during the last few months. While we report our financial results on a
quarterly basis, the businesses move forward at a more rapid pace. We
hope that this update will assist the investment community in better
understanding our business and provide further evidence of the great
opportunity afforded by the Russian telecommunications market."
PeterStar
The rapid growth in subscriber lines reported for the third
quarter has continued over the past two months and PeterStar will
connect its 100,000th line before the end of the year. This growth,
which is well in excess of that planned for 1997, is attributable to
PeterStar's marketing efforts, St. Petersburg's growing business
community and to the continued success of the three cellular operators
in St. Petersburg, which use the PeterStar network to connect
customers.
In the area of network development, PeterStar's continued growth has
resulted in the need to further enhance its core network. In this
context, over the past few months, PeterStar and Lucent Technologies
engineers have been implementing the first stage of the upgrade of
PeterStar's SDH transport network from STM-4 to STM-16. The resulting
increase in transmission rates from 622 Mbit/s to 2.5 Gbit/s has
increased the capacity of the core network fourfold. This project is
the first time that an operator anywhere in the world has successfully
performed such an upgrade utilizing existing capacity without any
interruption in the service to its customers.
Teleport-TP
The last few months have seen continued activity within
Teleport-TP, both in relation to the roll-out and marketing of the
Satelink domestic long distance network, and the enhancement of the
company's international telecommunications service capability. On the
domestic side:
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