C&W-Excite@Home-(CMTO?)
Is CMTO suppling ATHM
Cable & Wireless Optus and Excite@Home Announce Formation of
@Home Network Australia
New High-Speed Internet Venture Will Serve Up to 2.2 Million Homes
SYDNEY, Australia and REDWOOD CITY, Calif., June 10 /PRNewswire/ -- Excite@Home (Nasdaq: ATHM - news),
the leading provider of broadband Web services and open access to the Internet via the cable infrastructure, and Cable &
Wireless Optus (Australia: CWO), a leading Australian telecommunications company today announced an agreement to
form a joint venture. Under the terms of the agreement, Excite@Home will develop an Australian version of @Home,
Excite@Home's high-speed Internet service. Cable & Wireless Optus will market the service to its approximately 2.2 million
homes passed, which are nearly 100 percent two-way hybrid fiber coaxial cable.
The new entity, @Home Network Australia, will combine Excite@Home's broadband Internet technology, content, systems
and operating expertise with Cable & Wireless Optus's strong brand and market presence to create an Australian
high-speed Internet service that is substantially better than any other Internet service available in Australia today. Cable &
Wireless Optus's state-of-the-art fiber optic HFC network is ideally positioned to carry the suite of services that will become
available from @Home Network Australia, some not seen before in Australia.
''Not only does this relationship with Excite@Home further enhance Excite@Home's position as the world leader in the
broadband Internet business, it also increases Cable & Wireless Optus's position in the expanding Internet market,'' said
Chris Anderson, chief executive of Cable & Wireless Optus. ''We are delighted to have Excite@Home as our partner in
Australia. Its services are unlike anything being offered in Australia today, and we are looking forward to making them
available to our customer base.''
@Home Network Australia subscribers will be able enjoy a rich array of custom broadband content and applications such
as video-on-demand, near CD-quality audio, high-speed games and software downloading, along with high speed,
''always-on'' access to the Internet. @Home Network Australia will combine the best elements of the @Home service with
high-quality Australian content to create a service that meets the unique needs of Australia's Internet customer base.
Excite@Home's proprietary network caching and replication technology combined with its comprehensive approach to
content will allow the new company to deliver a powerful service at a very affordable price.
The @Home service is more than a fast connection to the already-overloaded Internet. Excite@Home has developed a
network infrastructure that utilizes sophisticated caching and replication technologies to create a high-performance ''parallel''
Internet, bringing information closer to users. These technologies, combined with Excite@Home's focus on rich broadband
content and end-to-end network management enable the company to deliver an Internet experience that is unique in style,
service, and content.
''With roughly 6 million Internet users, Australia is a very promising market for high-speed cable Internet services and an
important next step in Excite@Home's international expansion,'' said John O'Farrell, senior vice president, International,
Excite@Home. ''Cable & Wireless Optus impressed us with a clear understanding of the opportunity and a determination to
move aggressively to tackle it. It's exactly the kind of partner we look for, and we are thrilled to be forming @Home
Network Australia with them.''
An estimated 1.3 million, or approximately 20%, of Australian households have access to the Internet, one of the highest
penetration rates of any country outside the U.S. These households will have the opportunity to access the new service in the
fourth quarter of this year.
About Cable & Wireless Optus
Cable & Wireless Optus is Australia's only fully integrated communications company servicing over two million customers.
The company provides a broad range of communications services including mobile, national and long distance services, local
telephony, business network services, Internet services and pay television.
Since commencing operations in 1992, Cable & Wireless Optus has constructed fixed, mobile and satellite networks,
including central business district and suburban local access networks. These networks provide the company with an
advanced technology platform capable of delivering integrated communications, information and entertainment services.
Cable & Wireless Optus is a member of the Cable & Wireless Group, a leader in global communications operating in more
than 80 countries around the world.
About Excite@Home
Excite@Home is a global media company based in Redwood City, Calif. Through the company's narrowband portal, Excite
(www.excite.com), and broadband services, @Home and @Work, the company uniquely offers consumers content and
interactive services across both narrowband and broadband and advertisers highly targeted marketing solutions across all
platforms of delivery. Leveraging the high-speed, always-on attributes of cable, Excite@Home empowers unique multimedia
applications that go beyond current Web experiences.
With the addition of Australia, Excite@Home now has broadband distribution partnerships in five countries. Excite@Home
is the largest high speed Internet service provider in North America (United States and Canada). @Home Nederland, based
in Amsterdam, launched its Dutch service in May. In April, Excite@Home also announced plans to form @Home Japan
with Jupiter Telecommunications and Sumitomo Corporation.
NOTE: Excite@Home, Excite, the @ball logo and @Home are trademarks of At Home Corporation and may be registered
in certain jurisdictions. All other brand and product names are trademarks of their respective owners.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Exchange Act of
1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections.
These forward-looking statements include statements related to: Excite@Home's and Cable & Wireless Optus's ability to
deploy a customized version of the @Home Service for the Australian market; the scope of the feature set that will be
included in this service; consumer demand for the service; the service's potential contribution to the growth and success of
the broadband Internet industry in Australia; and the extent to which the service will transform the way consumers view and
use the Internet. Actual results may differ materially due to a number of risks. In particular, successful deployment of the
service is subject to numerous technological, operational and financial challenges; potential competition from other
broadband providers; and the degree of customer acceptance of the service in Australia. The matters discussed in this press
release also involve risks and uncertainties described from time to time in Excite@Home's filings with the Securities and
Exchange Commission. In particular, see the risk factors described in @Home Network's Form 10-Q for the quarter ended
March 31, 1998. Excite@Home assumes no obligation to update the forward-looking information contained in this press
release. |
