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Technology Stocks : METROMEDIA FIBER NETWORK (MFNX) -- Ignore unavailable to you. Want to Upgrade?

To: lukey who wrote (332)	6/16/1999 9:40:00 AM
From: DavidCG	Respond to of 1983

Metromedia Fiber Network Announces Major European Expansion Into London & Amsterdam Intracity Builds Replicate Successful North American Strategy NEW YORK--(BUSINESS WIRE)--June 16, 1999--Metromedia Fiber Network, Inc. (NASDAQ:MFNX - news) today announced plans to build local high-density fiber optic networks in the metropolitan areas of London and Amsterdam. The company will initially deploy more than 32,400 fiber kilometers in London, covering in excess of 75 route kilometers and 34,560 fiber kilometers in Amsterdam, representing more than 80 route kilometers. This brings the company's total planned intracity European network expansion to more than 166,320 fiber kilometers to date and further bolsters its reach within key economic hubs across Europe. ''The data communications and Internet market in Europe is expected to double by the year 2002,'' said Howard Finkelstein, president of Metromedia Fiber Network. ''London and Amsterdam, the newest elements of our international expansion strategy, enable us to capture an increasing portion of this market. By replicating our proven North American fiber deployment strategy in major metropolitan areas throughout Europe, we will continue to break bandwidth barriers across borders, providing customers with fast, reliable and private building-to-building connectivity.'' Utilizing a ''meshed'' network architecture, Metromedia Fiber Network places massive amounts of fiber throughout major metropolitan areas and directly into key commercial and carrier buildings. ''By using several overlapping grids in the construction of our local networks, MFN can access any building in our currently announced cities by way of several diverse paths,'' explained Vincent Galluccio, senior vice president and managing director for Metromedia Fiber Network International. ''Our networks are a real market differentiator for us, providing an ideal optical switching platform for customers.'' To add further value for its customers, Metromedia Fiber Network has leveraged its U.S. fiber optic infrastructure to provide pan-European connectivity to the cities of London, Paris and Amsterdam, and through its previously announced German national ring, the cities of Frankfurt, Stuttgart and Cologne. This infrastructure spans major centers of business, finance and trade in the U.K., Germany, France and the Netherlands. Customers with multiple locations will benefit from private, reliable and fast building-to-building connections, whether those buildings are across the street or across borders. About Metromedia Fiber Network Metromedia Fiber Network is building metropolitan fiber optic infrastructure in the local loop in strategic Tier One markets, enabling technologically sophisticated organizations to implement the latest data, video, Internet and multimedia applications. By offering virtually unlimited, unmetered bandwidth at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Utilizing Metromedia Fiber Network's infrastructure, customers are able to rapidly deploy state-of-the-art optical networks. Communications carriers and Internet Service Providers gain local loop connectivity to the most highly populated metropolitan areas. Corporate and government customers benefit from private building-to-building networks featuring the fastest transmission speeds available and the highest levels of reliability and security. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.