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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Brad Rogers who wrote (2252)	12/16/1999 7:09:00 PM
From: SecularBull	Read Replies (1) \| Respond to of 3873

December 16, 1999 LEVEL (3) LIGHTS FIRST SEGMENT OF U.S. LONG DISTANCE NETWORK Segment Carrying Customer Traffic Network Is First To Be Entirely Based On Internet Technology BROOMFIELD, COLORADO, December 16, 1999 - Level (3) Communications, Inc. (Nasdaq:LVLT) today announced that it is now carrying customer traffic between Dallas and Houston on the first completed and lit segment of its U.S. intercity (long distance) fiber optic network. A fiber network is considered to be lit when the electronics that drive the light wave through the fiber are installed, thereby making the network able to carry customer traffic. Construction of the network continues to be ahead of schedule. Level (3) is building the first international communications network optimized for Internet technology, or Internet Protocol (IP). The network is also the first continuously upgradeable network, designed to evolve as technology continues to evolve. Most of Level (3)'s customers are Web-centric companies, whose business operations and services are Internet-related. "This completed and lit segment of our network marks the first step in completion of our network infrastructure and represents another important milestone for Level (3)," said Kevin O'Hara, executive vice president and chief operating officer for the company. "Along with our announcement this week of the launch of (3)VoiceSM -- our voice over IP service -- the lighting of the first segment of our intercity network is a significant event for our company and, we believe, for the industry in terms of what it represents." The approximately 250 mile segment connecting Level (3)'s Gateway facilities in Dallas and Houston is part of a 16,000 mile intercity network being built by Level (3) in the U.S. 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. Level (3) has opened offices in Hong Kong and Tokyo as part of its planned Asian network. The company expects to substantially complete the U.S. intercity network by the end of 2000. The 1,800 mile first loop of the European network is expected to be ready for service in 2000. In the interim, Level (3) is providing service to customers across the U.S. and Europe over a combination of leased and owned facilities. As portions of the U.S. and European networks are completed, Level (3) will migrate customer traffic from leased facilities to Level (3)'s own infrastructure. U.S. Network Construction Ahead of Schedule "We started actual construction of our U.S. network in September 1998," said Dan Caruso, senior vice president, Network Engineering for Level (3). "We turned our first shovel of dirt along the Dallas-Houston route, which is now the first segment of our U.S. intercity network to be up and running. And, in the first quarter of 2000, we expect this segment to be joined by segments running from Houston to San Antonio and San Antonio to Fort Worth and then Dallas, to complete the first network ring in our U.S. network." At the end of the third quarter of 1999, close to 6,000 miles of conduit had been installed by Level (3) in the U.S. By year-end, Level (3) expects to have completed in excess of 8,000 miles and be nearly 4,000 miles further along than originally scheduled. More than 80 percent of the intercity segments are now under construction and the company has crews in more than 1,000 separate locations in 36 states working on its network. About Level (3) Communications Level (3) Communications, Inc. (Nasdaq: LVLT) is a communications and information services company that is building the first international network optimized for Internet Protocol (IP) technology. The Level (3) Network, with both intercity and intracity segments, is able to connect customers end-to-end across the U.S. and in Europe and Asia. At completion, the Level (3) U.S. network will consist of approximately 16,000 intercity miles, connecting 56 cities in which Level (3) will offer service. The 4,750-mile Pan-European network will connect 23 markets in which the company will offer service. Level (3) sells a range of network services to Web-centric companies that add value and deliver their services to end-users over the Level (3) Network. The company is traded over the Nasdaq National Market (U.S.) under the symbol LVLT. Its web address is www.Level3.com. 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 the mix 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. ------------------------------------------------------ This service provided by Shareholder Direct. Additional Information: level3.com