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Technology Stocks : eLec Communications Corp. (ELEC) -- Ignore unavailable to you. Want to Upgrade?

To: Moosie who wrote (174)	9/23/1999 10:34:00 AM
From: Moosie	1 Recommendation Read Replies (1) \| Respond to of 330

News October 21, 10:15 Eastern Time Essex Communications Announces Plans to Build DSL Network in the Northeast to Provide High-Speed Internet and Voice Services to Essex's Rapidly Growing Small Business Customer Base NORWALK, Conn., Sep 21, 1999 (BUSINESS WIRE) -- Essex Communications announced today its plans to build an IP-based integrated services network in the Northeast. Essex will initially utilize DSL technology to provide dedicated high-speed Internet access to its rapidly growing small business customer base. After its initial DSL deployment, Essex intends to expand its service offerings to include Virtual Private Networking (VPN), hosted applications and Voice over IP (VoIP) services. Essex Communications is a wholly-owned CLEC subsidiary of Sirco International Corp. (NASDAQ: ELEC). Paul Riss, Sirco's CEO, stated, "Our long-term plan is to become an integrated communications provider to small and medium-sized businesses throughout the United States utilizing our own dedicated network. To achieve this long-term vision, we believe that our company will need to evolve through several intermediate stages of development. With the migration from resale to UNE-P we have substantially completed the transition from stage one to stage two, allowing us to provide local and long distance voice services at significant profit margins." "We are now entering stage three," continued Mr. Riss, "as we begin to build our own network nodes. These network nodes will allow us greater control over the types and quality of services we provide to our customers. In this way we will be better positioned to take advantage of the rapid development of both technology and competition in the Internet and telecommunications business." Henry Azer, Sirco's CTO, added, "With this phase of our network expansion, we will increase our IP network coverage to include Northern New Jersey, New York, Connecticut and Massachusetts. Initially, we will be taking advantage of current DSL technologies, which will enable us to provide high-speed Internet services utilizing the existing copper loops maintained by the ILECs. Once deployed, we expect to be able to provide additional data and voice services over our network as the development of IP-based technologies to support these services have been rapidly advancing. In addition, having our own network nodes will allow us the flexibility to utilize additional access and transport technologies, beyond the current capabilities of DSL, as they become available." Sirco International Corp. is a publicly traded local telecommunications company that is taking advantage of the convergence of the current and future competitive technological and regulatory developments in the Internet and telecommunications markets through the integration of its wholly-owned subsidiaries, Essex Communications Inc. and WebQuill Internet Services. The company provides an integrated suite of communications services to small and medium-sized business customers, including local, long distance, dial-up access, dedicated access, and Web site design and hosting. This release contains forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, general economic and business conditions; industry trends; the loss of major customers; changes in demand for the Company's product; the timing of orders received from customers; dependence on third party sources of supply; the loss of licenses; availability of management; availability, terms and deployment of capital; and changes in state or federal governmental regulations of telecommunications services. Copyright (C) 1999 Business Wire. All rights reserved.