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Strategies & Market Trends : Puff Daddy's Mo' Money Mo' Problems -- Ignore unavailable to you. Want to Upgrade?

To: sshia who wrote (169)	1/6/2000 1:52:00 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 896

International FiberCom Awarded Additional $20 Million Contract by PF.Net to Engineer and Install Second Fiber Run in the Southwestern United States Total Engineering Services, Network Installation For PF.Net Now Expected to Exceed $52 Million PHOENIX--(BUSINESS WIRE)--Jan. 6, 2000-- International FiberCom Inc. (Nasdaq: IFCI) Thursday announced that its Sacramento, Calif.-based All Star Telecom subsidiary, a part of IFCI's Infrastructure Development Division, has been awarded an additional design-build contract with a value in excess of $20 million by Washougal, Wash.-based PF.Net for the engineering and installation of a second segment of a fiber optic network in the southwestern United States. This project is in addition to the $32 million contract with PF.Net announced last month, bringing the total contract awards to-date from PF.Net to more than $52 million. Engineering for both projects has commenced, with network installation for the $32 million segment expected to begin this month and network installation for the $20 million segment expected to begin in February. IFCI Chairman & CEO Joseph P. Kealy commented, "This is another confirmation of our shift to larger, longer-term contracts with major broadband network and telecommunications companies. This additional contract with PF.Net is a strong vote of confidence by a major fiber optic communications infrastructure provider in our ability to provide large-scale, turn-key, broadband, network development solutions." PF.Net is constructing "The Network to the Net" -- a nationwide IP-based, fiber optic network, which will connect to national access points and more than 70 cities, including the five largest telecommunications markets in the United States. About PF.Net the Company: PF.Net will provide fiber optic communications infrastructure to communications carriers, Internet service providers (ISPs), corporations with enterprise network needs and government entities. The company is constructing the Network to the Net, a nationwide IP-based, fiber optic network, which will connect to national access points and more than 70 cities, including the five largest telecommunications markets in the United States. The company is owned by PF Telecom LLC, Washougal, Wash.; Koch Telecom Ventures Inc., a wholly owned subsidiary of Koch Industries Inc., Wichita, Kansas; and Odyssey Investment Partners LLC, New York. For more information about PF.Net, visit the company at www.pf.net. International FiberCom is a leading provider of a wide range of engineering, development and maintenance services for fiber optic, broadband networks, public telephone networks, local and wide area networks, and specialized wireless applications. With a number of recent strategic acquisitions that complement and enhance existing services and products, International FiberCom has positioned itself as a "one-stop shop" for the telecom and cable TV industries. This news release contains certain forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their very nature, include risks and uncertainties. Accordingly, the company's actual results could differ materially from those discussed in this release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. Such factors, many of which are beyond the control of the company, include the following: the company's success in obtaining new contracts; the volume and type of work orders that are received under such contracts; the accuracy of the cost estimates for projects; the company's ability to complete its projects on time and within budget; levels of, and ability to collect accounts receivable; availability of trained personnel and utilization of the company's capacity to complete work; the company's ability to complete proposed acquisitions and, upon their completion, to integrate the acquisitions into its organization and manage its growth; competition and competitive pressures on pricing; and economic conditions in the United States and in the regions served by the company. A more complete listing of cautionary statements and risk factors is contained in the company's report on Form 10-KSB for the year ended Dec. 31, 1998 filed with the Securities and Exchange Commission.