Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Stuart T who wrote (82411)	12/27/1999 8:50:00 AM
From: Tim Luke	Respond to of 90042

Monday December 27, 8:30 am Eastern Time Company Press Release New Millennium Development Group Appoints Marconi and Pirelli Suppliers of Choice for Global Network PALM BEACH, Fla.--(BUSINESS WIRE)--Dec. 27, 1999--New Millennium Development Group, Inc. (NMDG) today announced that it has appointed Marconi plc and Pirelli Cable Systems as the principal suppliers to design, build and program manage its $5 billion global telecommunications network. The initial combined contract for NMDG's European network is worth approximately $1.2 billion. Marconi plc is one of the world's fastest growing communications and IT companies with a strong record of innovation and technological breakthroughs. It is a world-leader in smart broadband optical networks and it supplies the key technologies and services for the new Public Network and the Internet. With 45,000 employees worldwide and sales in over 100 countries, it is headquartered in London, listed on the London Stock Exchange and included in the FTSE-100 index. Pirelli Cable Systems, whose experience in underwater telecommunications dates back to 1886, will supply NMDG's global network with repeated and unrepeated systems. The company provides complete turnkey systems based on the highest technology standards in the industry. Pirelli Cable Systems has agreed to partner with KDD-SCS Submarine Cable Systems to supply NMDG's networks. ''The appointment of Marconi and Pirelli to our consortium is of key importance to NMDG's capacity to build and operate our European network that we expect to begin in April of 2000,'' Phillip A. Arcoria, COO of NMDG, said. ''In the future, as Marconi and Pirelli, along with KDD-SCS, continue to work with us in developing our networks in Asia, Latin America and elsewhere, the total, combined value of their contracts could be approximately $5 billion.'' The New Millennium Development Group is located in West Palm Beach, Florida with satellite offices in Washington, D.C., Rome, Italy and New York. NMDG is a multi-faceted telecommunications corporation that specializes in wire lines, wireless, security and identification systems, international telecommunication services and prepaid telephone cards.