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Technology Stocks : Comdisco, Inc. (NYSE: CDO) -- Ignore unavailable to you. Want to Upgrade?

To: Silver Knife who wrote (357)	1/13/2000 3:38:00 PM
From: Silver Knife	Read Replies (1) \| Respond to of 689

New Edge Networks Signs $23 Million Credit Facility With Comdisco January 13, 2000 15:15 VANCOUVER, Wash.--(BUSINESS WIRE)--Jan. 13, 2000--New Edge Networks today announced it has closed a $23 million credit facility with Comdisco, Inc. (NYSE:CDO), enabling the leading national wholesale DSL provider in small, medium and rural markets to accelerate its market rollouts. New Edge Networks intends to use the money for lease financing and to pay co-location application fees to local telephone companies in whose property the company intends to install DSL equipment within the next few months. New Edge Networks already has submitted filings for co-locating DSL switching equipment in more than 650 telephone company central offices nationwide. "This financing arrangement will allow New Edge Networks to accelerate its equipment deployment in central offices throughout the country," said John Hesse, chief financial officer of New Edge Networks. "Comdisco is a great partner for us because they recognized early the value being created by New Edge as the leading company with national wholesale presence in small, medium and rural markets." High-speed DSL technology replaces analog modems and provides access to the Internet and Corporate LANs at speeds up to 100 times faster and at affordable costs. The principal benefits of DSL technology are: speed; continuous "on demand" connectivity, eliminating dial up or waiting; secure access using dedicated facilities; and reliability, because the network is monitored around the clock. According to industry analyst projections, up to 7 out of 10 people and businesses, representing 70 million to 90 million households and businesses, will be on the Internet by 2003. Of this number about half, or about 40 million, will have broadband access through DSL service, cable television modems or wireless devices. DSL is expected to lead with a more than 50 percent broadband market share. Industry analysts believe 2 out of 10 DSL users will choose to live or operate businesses in small and medium size communities outside the major urban areas, where New Edge plans to offer wholesale DSL service. Based in Vancouver, Wash., New Edge Networks is the leading national wholesale DSL provider in underserved small, medium and rural markets. Last June, New Edge Networks completed its first round of equity funding for $15.3 million from three top-tier venture capital firms including Accel Partners, Palo Alto, Calif., Greylock, Boston, Mass., and Crosspoint Venture Partners, Woodside, Calif. The company's Web site address is www.newedgenetworks.com. CONTACT: For New Edge Networks Sal Cinquegrani, 847/359-2808 or 360/906-9723 E-Mail: sal@spin-com.com