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Technology Stocks : Williams Communications Group - WCG

WCG 349.92

+1.4%

Jan 23 4:00 PM EST

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To: MangoBoy who wrote ()	5/24/1999 9:34:00 AM
From: Mark Sherry	Read Replies (1) of 609

Williams Communications Group, Inc., a unit of Williams (NYSE:WMB) today announced the extension of its inter-city fiber-optic network into key Tier One markets in an alliance with Metromedia Fiber Network, Inc. (NASDAQ:MFNX). Williams leveraged its long-haul network to gain access to Metromedia Fiber Network's infrastructure in all 11 of MFN's current United States Tier One metropolitan areas as well as several future markets nationwide. The 20-year agreements provide for dark fiber, collocation, maintenance services and building access. Williams Communications will receive access to a significant number of fibers throughout MFN's intra-city networks in top tier cities. Metromedia Fiber Network gains access to Williams' high-capacity, long-distance fiber-optic network throughout the United States. The value of the dark fiber and maintenance components totals more than $230 million to each company. Williams will provide to MFN a yet-to-be-determined amount of collocation services that is expected to have a minimum value of $87 million to Williams over the term of the agreement.

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