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Technology Stocks : AboveNet Communications, Inc. (ABOV) -- Ignore unavailable to you. Want to Upgrade?

To: RFJock who wrote (720)	6/16/1999 11:07:00 AM
From: Rick McDougall	Respond to of 835

Wednesday June 16, 9:00 am Eastern Time Company Press Release AboveNet Triples Capacity of East Coast Campus in Washington, D.C. and Plans for Greater Demand for Its Co-Location Services SAN JOSE, Calif.--(BUSINESS WIRE)--June 16, 1999--AboveNet Communications Inc. (Nasdaq:ABOV - news), the architect of a global one-hop network that brings together high-bandwidth content sites, ISPs, and Application Service Providers in centralized co-location facilities, today announced plans to expand its East Coast Internet Service Exchange campus in the Washington, D.C. area. AboveNet has signed a lease for 25,000 square feet of space in the Faraday Building, in Reston, Virginia. This additional space, which will be ready for occupancy by February 2000, triples the capacity of AboveNet's East Coast Internet Service Exchange (ISX) in the Washington, D.C. area. ''AboveNet's Internet Service Exchange business model, which brings content providers and ISPs together, has been validated by the exceptional demand from our global customers for our superior connectivity, facilities and services,'' said Warren J. Kaplan, President and Chief Operating Officer of AboveNet. ''In response to this demand, we are accelerating the expansion plans of our East Coast Campus in the Washington, D.C. area.'' AboveNet's ISX facilities serve as the international hubs for AboveNet's growing global presence. The East Coast campus facilities are focused on serving U.S. and European clients. The West Coast campus serves U.S. clients, and currently receives more than 30% of the Internet traffic from the Asia Pacific region. These facilities are among the few Internet facilities in the world to receive the rigorous and prestigious ISO 9002 certification. ''AboveNet's architecture is ideal for the business critical applications that are fueling the growth of the Internet around the world -- e-commerce, streaming media, Internet telephony, as well as the delivery of hosted applications,'' said Stephen Belomy, Executive Vice President of AboveNet. ''Our expansion plans support our commitment to our fast-growing clients to deliver the best network for them today and in the future.'' To help drive its expansion on the East Coast and in Europe, AboveNet also announced today, in a related press release, the appointment of a new Eastern Region vice president of sales. Additionally, a newly appointed sales director will focus on growing AboveNet's presence in the New York area. AboveNet's facility in New York City is scheduled to open, as planned, in September, 1999. AboveNet's ISO 9002 Certification ISO 9002 certification assures that AboveNet, as well as its suppliers and technology partners, adhere to the quality management and quality assurance standards set by ISO -- a worldwide federation of national standards bodies from more than 130 countries. The certification is particularly important to the transmission of e-commerce, streaming multimedia, and Internet telephony, for which delays and high error rates can result in unacceptable transmission qualities. AboveNet's Global ''One-Hop'' Network AboveNet's unique network model enables it to offer the best connectivity and network performance to its clients. At each of AboveNet's ISXs, content and service providers connect to each other in a LAN environment and then directly connect to the rest of the Internet through an extensive network of more than 257 private and public peering agreements with all of the top ISPs and backbone providers worldwide. This architecture reduces the multiple network hops information often takes to reach its final destination on the Internet, and allows AboveNet to keep the information on its network intact until it can be delivered as close as possible to its final destination. The resulting ''one-hop'' network is highly redundant and delivers superior network performance. AboveNet further ensures the performance of its network by providing its clients access to 10.5 Gbps of bandwidth on demand -- the most 100% headroom on its network so that its clients will have the bandwidth they need as they grow. bandwidth available at any co-location facility. AboveNet guarantees