NORTEL NETWORKS SELECTED BY LEVEL 3 COMMUNICATIONS IN MAJOR DEAL
(Applies to: LVLT)
NORTEL NETWORKS SELECTED BY LEVEL 3 COMMUNICATIONS IN MAJOR DEAL TO
PROVIDE OPTICAL NETWORKING EQUIPMENT GLOBALLY USES NEXT-GENERATION
Optical Network Solutions for Internet Protocol-Based Network
DENVER, Jul 28, 1999 /PRNewswire via COMTEX/ -- Nortel Networks
(NYSE/TSE: NT) today announced that it has been selected by Level 3
Communications, Inc. (Nasdaq: LVLT) to provide transport and optical
equipment for the first end-to-end international network optimized for
Internet Protocol technology.
''Level 3 and Nortel Networks share a vision for the Optical Network of
the future based on the Internet Protocol,'' said John Roth,
Vice-Chairman and Chief Executive Officer, Nortel Networks. ''Together,
we are making possible global e-commerce, e-entertainment, e-learning
and other e-services we can only just begin to imagine. We are pleased
to be associated with such a forward-thinking service provider as Level
3 and to be awarded this highly sought-after contract.''
''We are building a new kind of network -- one that is continuously
upgradeable, one that can continue to adapt to changes in technology
and harness the benefits of that technology,'' said James Q. Crowe,
President and Chief Executive Officer for Level 3. ''Our goal is to
bring the kind of price performance improvement that we have seen in
other high technology areas -- like personal computing -- to
communications,'' said Crowe. ''We look forward to working with Nortel
Networks as one of our technology providers.''
''The Internet will capture as much as half of all the world's
burgeoning commerce, and broadband access to the Net is critical,''
said George Gilder, chairman of Gilder Technology Group in
Massachusetts. ''Nortel Networks has been a major player in the
buildout of broadband networks -- their newest WDM system will carry
160 times more bits per fiber than the maximum justfour years ago.''
Level 3 currently provides service over a combination of leased and
owned facilities in 21 U.S. cities and four European markets. The
company plansto expand its own network to 50 U.S. cities and 21 markets
in Europe and Asia. To connect the U.S. high-capacity networks to
Europe and Asia, Level 3 will use Trans-Atlantic and Trans-Pacific
cable systems, which are expected to be in-service by September 2000.
Level 3 will utilize Nortel Networks' market leading optical networking
equipment including the 10 Gigabit per second platform,
Dense-Wavelength Division Multiplexing (D-WDM) systems, and the
OPTera(x) suite of open optical products. The network will be managed
end-to-end by Nortel Networks' Integrated Network Management (INM)
solution that serves over 400 service providers globally. INM optical
solutions provide service assurance and activation of D-WDM networks.
It enables the deployment of such innovations as Managed Wavelength
Services, which gives Level 3's customers a real-time view of their
leased wavelength services and the ability to monitor these services
relative to Service Level Agreements (SLAs).
About Nortel Networks
Nortel Networks delivers value to customers around the world through
Unified Networks solutions, spanning mission-critical telephony and
IP-optimized networks. Customers include public and private enterprises
and institutions; Internet service providers; local, long-distance,
cellular and PCS communications companies, cable television carriers,
and utilities.
Nortel Networks' common shares are listed on the New York, Toronto,
Montreal, Vancouver, and London stock exchanges. Nortel Networks had
1998 revenues of US$17.6 billion and has approximately 75,000 employees
worldwide.
About Level 3 Communications
Level 3 Communications, Inc., is a communications and information
services company that is building the first international network
optimized for Internet Protocol technology. The Level 3 network
combines local, long distance, and undersea networks, connecting
customers end-to-end across the U.S. and in Europe and Asia. The
company expects to complete its planned network construction in phases
beginning in the first quarter of 2001. Inthe interim, Level 3 is
offering service in the U.S. and Europe using a combination of company
owned facilities and leased network connections. Level 3's common stock
is traded on The Nasdaq National Market (U.S.) under the symbol LVLT.
Its World Wide Web address is (http://www.Level3.com).
Forward Looking Statements
The statements made by Level 3 in this press release may be forward
looking in nature. Actual results may differ materially from those
projected in forward looking statements. Level 3 believes that its
primary risk factors include, but are not limited to: substantial
capital requirements; development of effective internal processes and
systems; the ability to attract and retain high quality employees;
changes in the overall economy; technology; the number and size of
competitors in its markets; law and regulatory policy; and themix of
products and services offered in its target markets. Additional
information concerning these and other potential important factors can
be found within Level 3's filings with the U.S. Securities and Exchange
Commission. Statements in this release should be evaluated in light of
these important factors.
Certain information included in this press release is forward-looking
and is subject to important risks and uncertainties. The results or
events predicted in these statements may differ materially from actual
results or events. Factors which could cause results or events to
differ from current expectations include, among other things: the
impact of price and product competition; the dependence on new product
development; the impact of rapid technological and market change; the
ability of Nortel Networks to integrate the operations and technologies
of acquired businesses in an effective manner; general industry and
market conditions and growth rates; international growth and global
economic conditions, particularly in emerging markets and including
interest rate and currency exchange rate fluctuations; unanticipated
impact of Year 2000 issues; and the impact of consolidations in the
telecommunications industry. For additional information with respect to
certain of theseand other factors, see the reports filed by Nortel
Networks with the United States Securities and Exchange Commission.
Nortel Networks disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
SOURCE Nortel Networks Corporation
(C) 1999 PR Newswire. All rights reserved.
http://www.prnewswire.com -0-
CONTACT: Business Media: Jeff Ferry, Nortel Networks,
703-712-8339,
jferry@nortelnetworks.com; Media Relations: Steve
Ingish, Level 3
Communications, 303-926-3363; Trade Media: Shelley
Grandy, Nortel Networks,
905-863-2105, sgrandy@nortelnetworks.com; Investors
Relations: Julie
Stangl, Level 3 Communications, 303-926-3575; Or visit
Nortel Networks'
website at www.nortelnetworks.com
/Nortel Networks' press releases are also available
through CNO-Call by
fax at 800-758-5804, ext. 122158 or at
www.prnewswire.com
(NT. NT)
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