PSINet Activates Capacity On Transatlantic Fiber-optic Cable System
HERNDON, Va.--(BUSINESS WIRE)--Aug. 12, 1998--
World's Largest Independent Commercial Internet
Service Provider Turns Up Capacity Between New York and London
PSINet Inc. (NASDAQ:PSIX), the first and largest independent Internet service provider (ISP) today announced that it has installed and
activated its STM-1 fiber-optic network capacity on the Atlantic Crossing (AC-1) submarine cable system operating between the United States
and United Kingdom. An STM-1 is a standard bandwidth transmission speed value equivalent to OC-3. Both are capable of transmitting data at
speeds up to 155 megabits per second. Capacity was acquired through an indefeasible right of use (IRU) agreement with Global Crossing as
previously announced in March of this year.
PSINet's STM-1 capacity has been successfully interconnected with PSINet's recently activated first stage of an OC-48 (2.4 gigabit per second)
U.S. fiber network at its New York City point of presence (POP). This capacity has also been successfully interconnected with PSINet's leased
UK-wide fiber network at its London POP. PSINet can now provide its customers with a continuous fiber-optic Internet data network between
London and Los Angeles also linking to PSINet's existing high-speed network infrastructure in North America.
PSINet's activation of this transatlantic backbone is a critical step in the company's strategy to own its own fiber and global POP switching
facilities while developing and providing innovative and leading-edge business applications, including its recently announced
voice-over-Internet services (PSIVoice). The newly activated fiber optic capacity allows PSINet to achieve a much lower cost of operation by
replacing more costly leased bandwidth circuits, while reliably delivering the broad array of demanding multimedia Internet services required by
PSINet's business customers.
"Activation of the transatlantic bandwidth is a critical component in the build-out of our global Internet network and complements our recent
European acquisitions," said William L. Schrader, chairman, president and chief executive officer. "By owning strategic bandwidth assets,
PSINet is able to reduce costs and provide customers with superior service. We will continue to acquire companies and bandwidth in the top 20
international telecommunications markets as part of our plans for continued strong growth. PSINet is determined to maintain its position as a
leading communications carrier poised to meet the demands of businesses into the 21st century," Schrader added.
Headquartered in Herndon, VA, PSINet is a global facilities-based Internet Protocol (IP) data communications carrier focused on the business
marketplace. As the first and largest independent commercial Internet service provider in the world, PSINet offers a broad set of high-speed
corporate LAN connectivity services supporting managed security and guaranteed Internet, intranet, electronic commerce, Web hosting
services, and services for other carriers and ISPs. PSINet operates an international state-of-the-art frame relay-based, IP-optimized network
connecting over 400 points of presence extending to 11 countries. PSINet has subsidiaries in Belgium, Canada, Japan, France, Germany, Hong
Kong, Italy, the Netherlands, Switzerland, and the UK. General PSINet information can be obtained by e-mail at info@psi.com, or by accessing
the Web site at psinet.com.
Certain of the statements made in this release are forward-looking statements that are subject to material risks and uncertainties. Actual results
could differ materially, as a result of a variety of factors, including competitive developments, risks associated with the Company's growth, the
development of the Internet market, regulatory risks and other risks which are discussed in the Company's fillings with the Securities and
Exchange Commission. |
