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To: Ellen who wrote (65454)	10/9/1999 1:38:00 PM
From: kendall harmon	Read Replies (1) \| Respond to of 120523

PSIX--MACD turning up and excellent news out on Friday clearstation.com GENEVA, Oct 8 (Reuters) - PSINet Inc. (NasdaqNM:PSIX - news) chief executive Bill Schrader said on Friday the U.S.-based Internet services provider hoped to boost revenues by up to 100 percent next year as it snaps up Internet companies around the globe. ''Right now we are dangerously predicting that we'll increase (revenue) by just under 100 percent next year,'' he told Reuters in an interview ahead of the Telecom 99 conference in Geneva. Schrader said 50 percent of the revenue increase would come from organic growth and 50 percent from acquisitions. In 1998, the company generated $260 million in revenues. But the Nasdaq listed company, which Schrader said has raised more capital than any other Internet provider, was unfazed by its losses while Wall Street provided finance to make acquisitions and expand its fibre optic network. ''We are listing to Wall Street,'' Schrader said, adding that PSINet was allowed to make a loss and still receive financing because of the large increase in sales it was generating. PSINet had sought to cut the costs of using the telephone lines of former monopoly or dominant telecommunication carriers by investing in its own 200,000-mile long global fibre optic cable network. Asked if the company could be expected to make a profit soon, Schrader replied: ''Absolutely. All we have to do is stop growing.'' PSINet, which offers Internet services such as packages for businesses to set up their own online ''stores'', had acquired 50 companies in 20 months in 20 countries and planned to make a lot more acquisitions in the next 20 months, Schrader said. Many of these acquisitions were in Europe, where the company wanted to tap growth in demand for Internet services that outstrips the more saturated U.S. market. This move into Europe followed a trend pursued by other leading Internet companies such as America Online Inc. (NYSE:AOL - news),which with Germany's Bertelsmann AG set up America Online Europe to compete with dominant market players such as Deutsche Telekom AG . Although investment in the company's cable infrastructure had weighed down results, Schrader said it would help improve profit margins as PSINet reduced its telecoms costs. ''The former dominant carriers are in trouble,'' Schrader said, but he did not say when he expected PSINet's revenue growth to produce profits.