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Technology Stocks : Advanced Radio Telecom (ARTT) -- Ignore unavailable to you. Want to Upgrade?

To: transmission who wrote (1062)	4/17/2000 3:33:00 PM
From: DubM	Respond to of 1176

Monday April 17, 9:09 am Eastern Time Company Press Release Advanced Radio Telecom Completes Agreement for Major Spectrum Acquisition BELLEVUE, Wash.--(BUSINESS WIRE)--April 17, 2000--Advanced Radio Telecom Corp. (ART) (Nasdaq:ARTT - news) today announced that it has entered into a definitive purchase agreement with respect to the previously announced transaction with BroadStream Communications Corporation to acquire up to 378 39GHz licenses for up to approximately 10.1 million shares of ART common stock representing a price of $36 per share. ``With our recently announced spectrum acquisitions, we will more than double the number of 39 GHz licenses we own in the U.S. Over two-thirds of BroadStream's licenses expire in 2006 or later, supporting ART's long-term growth opportunities in both our top 40 markets and secondary markets. The additional spectrum will allow ART to build larger Fast Ethernet 100 Mbps metro networks and dedicated OC-3 links that provide customers with connectivity at speeds up to 155 Mbps,' said Robert McCambridge, ART president and COO. ``We launched the POP/gateway location in Los Angeles in the first quarter as planned and we expect to offer commercial services this quarter in Los Angeles, Houston and Washington DC. The progress we have made to date puts us on target to achieve the 10 market rollout we announced earlier this year.' About ART Advanced Radio Telecom Corp. (Nasdaq:ARTT - news), headquartered in Bellevue, Wash., is a provider of broadband Internet Protocol (IP) access services at speeds up to 155 Mbps. ART currently owns and operates broadband wireless metropolitan area networks in San Jose, Seattle, Portland, Ore., and Phoenix, and plans to expand to 40 major markets over the next three years. ART is a Cisco Powered Network(TM) service provider and has a strategic relationship with Qwest Communications International Inc. (NYSE:Q - news). ART has a nationwide footprint of 39GHz spectrum licenses in the United States, and owns 26 GHz and/or 39 GHz spectrum licenses in the United Kingdom and several Scandinavian countries. For more information, please visit ART's web site at www.ipsp.com.