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Technology Stocks : Broadband Wireless Access [WCII, NXLK, WCOM, satellite..] -- Ignore unavailable to you. Want to Upgrade?

To: MangoBoy who wrote (830)	10/29/1999 2:55:00 PM
From: MangoBoy	Read Replies (1) \| Respond to of 1860

[Advanced Radio Telecom Announces Retirement of Henry C. (Harry) Hirsch, Chairman and Chief Executive Officer] BELLEVUE, WASH. - October 29, 1999 - Advanced Radio Telecom Corp., today announced that Henry C. (Harry) Hirsch, chairman & CEO, will retire effective November 1, 1999. In light of Hirsch's planned retirement, ART's board of directors has been engaged in a search and expects to name a replacement before the end of the year. Robert McCambridge, executive vice president and chief financial officer, has been named acting president and CEO. Hirsch will be available to consult with the company during the transition period. "Harry had done an outstanding job in securing the financial future of the company and putting in place a solid, long term business strategy for a national broadband wireless network roll out. We wish him the best in his retirement," said James B. Murray, Jr., an ART director and managing director of Columbia Capital Corporation, a major stockholder in ART. "We are talking with a number of outstanding candidates to take over the management of ART, and have every confidence in Bob McCambridge and the ART team to manage the company in the interim. "The ART board of directors believes there is tremendous opportunity for ART in its current strategy of providing high-speed Internet access services via its broadband wireless/fiber network," Murray added. "We expect to aggressively move forward in building metropolitan area networks in 40 of the top communications-intensive markets in the United States." Hirsch said, "I leave ART with a feeling of tremendous pride in this organization. Its tenacity over the past two years has been truly inspirational and a tribute to the quality of the people in this company. ART now has a solid financial base with its recent $251 million equity infusion, an ideal strategic partner in Qwest, a sound and exciting strategy of delivering high-speed IP local connectivity to businesses, its first market (in San Jose) up and running, and an organization ready for the challenge. I look forward to being an investor in ART for many years to come."