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

To: Doc Horror who wrote (811)	8/3/1999 1:15:00 PM
From: KS	Read Replies (1) \| Respond to of 835

August 03, 1999 12:57 Salomon's Jack Grubman Reiterates "Buy" On Metromedia Fiber (MFNX) (NewsTraders.com)-- Salomon Smith Barney's influential telecom analyst Jack Grubman today reiterated his "buy" rating on Metromedia Fiber Network Inc. (MFNX), according to a source at the firm. Grubman said the stock has come under pressure of late as a result of unconfirmed reports that the company will miss analysts' second-quarter estimates when it releases financials next week. The analyst believes such reports are permeating Wall Street via arbitrageurs who have an interest in seeing the stock decline. Grubman, who expects Metromedia to post second quarter revenues above his estimate of $14.9 million, also sees the company's pending acquisition of Abovenet Communications (ABOV) going through as planned. Grubman's $60 target is significantly above the stock's recent trading price of $28.69. Copyright 1999 NewsTraders Inc. All Rights Reserved 13:06 Tuesday, August 03, 1999

To: Doc Horror who wrote (811)	8/9/1999 8:42:00 AM
From: 2MAR$	Read Replies (1) \| Respond to of 835

(BSNS WIRE) Metromedia Fiber Network and AboveNet Communications Announc Metromedia Fiber Network and AboveNet Communications Announce Dates of Special Meetings of Stockholders Business Editors NEW YORK/SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 9, 1999-- Metromedia Fiber Network, Inc. (Nasdaq: MFNX) and AboveNet Communications Inc. (Nasdaq: ABOV), announced today the dates for each company's special meeting of stockholders in connection with the merger of AboveNet with Metromedia. Both special meetings will be held at 9:00 a.m. on September 8, 1999, at 1285 Avenue of the Americas, New York, New York. Proxy materials for the special meetings will be mailed on or about Friday, August 6, 1999 to stockholders of record of both companies as of July 14, 1999. The completion of the merger remains subject to required approvals by the stockholders of both Metromedia Fiber Network and AboveNet Communications, as well as to other customary conditions to closing. If the required approvals of stockholders are obtained at the special meetings, it is expected that the merger will close a soon as practicable thereafter. 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 mmfn.com. About AboveNet Communications AboveNet Communications Inc. is a leading provider of Internet connectivity and co-location solutions for high bandwidth and business-critical applications. AboveNet, headquartered in San Jose, Calif., is the architect of the Internet Service Exchange (ISX) -- a world class network that provides co-location services and Internet connectivity for Content Providers, ISPs, and Application Service Providers (ASPs). The AboveNet Global One-Hop Network is designed to deliver fast, scalable and reliable connections to the Internet and improves the Internet experience for end-users. With its Tier 1 status and ISO 9002 certification, AboveNet is seeking to serve the global community of the Internet. For more information on AboveNet and its service offering call 800/475-2733 or visit the company's Web site at above.net. AboveNet, Internet Service Exchange, ISX and AboveNet Global One-Hop Network are trademarks of AboveNet Communications, Inc. All other company or brand names may be trademarks of the respective companies with which they are associated. --30--rc/ny* CONTACT: Metromedia Fiber Network Ellen Strahs Fader, 212/606-4389 efader@metromediacompany.com or AboveNet Communications Inc. Coleen Clark, 408/367-6681 coleen@above.net KEYWORD: NEW YORK CALIFORNIA INDUSTRY KEYWORD: TELECOMMUNICATIONS COMPUTERS/ELECTRONICS COMED Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *