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Monday May 22, 7:31 am Eastern Time
Company Press Release
Metromedia Fiber Network and Bechtel Corporation in World's Largest Fiber-Optic Infrastructure Project
NEW YORK--(BUSINESS WIRE)--May 22, 2000--Metromedia Fiber Network, Inc. (MFN) (Nasdaq: MFNX - news), the leader in deployment of optical Internet infrastructure within key metropolitan areas internationally, has awarded Bechtel Corporation (Bechtel) a contract to provide program and construction management, and construction services, for MFN's currently planned build of optical networks in metropolitan areas throughout North America and Europe. The agreement expands an existing relationship between the two companies.
This agreement is intended to accelerate MFN's strategy to be the largest provider of fiber-optic infrastructure worldwide by 2004, delivering 3.6 million fiber-miles of Internet backbone and local optical networks to customers in 67 domestic and international markets. In addition, the agreement will allow MFN to streamline engineering processes, control network quality and maintain its low-cost position by using a single point-of-contact for its infrastructure projects. Bechtel will provide MFN with overall program management and staffing resources to help reduce MFN's time to market.
``Our agreement with Bechtel will ensure that our planned optical Internet infrastructure throughout North America and Europe is delivered to customers on-time and with the highest quality,'' said Nick Tanzi, president and chief operating officer for Metromedia Fiber Network. ``We chose Bechtel to install our networks because of their industry status, reputation, expertise and commitment to quality construction. They will enable us to accelerate our infrastructure builds, while helping us to streamline our construction processes, control network quality, and take advantage of additional staffing through a single-source-provider strategy.''
Bechtel, one of the world's premier engineering-construction and development companies, has developed a reputation for excellence with such recent projects as the Channel Tunnel Rail Link in England; Motorola's MOS-17 wafer fabrication facility in Tianjin, China; Viatel's Circe Networks (with MFN participating in the German fiber-optic ring); and the Sprint PCS wireless network. Bechtel has mastered the engineering, construction management, development and financing challenges associated with working on multiple global projects. As a leading provider of worldwide engineering and construction services for ``last-mile'' fiber builds, Bechtel has constructed long-haul fiber networks, as well as networks for competitive local exchange carriers, utilities, personal communications service (PCS) providers and cellular systems.
``MFN is the leading provider of private fiber-optic infrastructure, with customers who rely heavily on this infrastructure to provide services. Therefore, speed, performance and quality are critical,'' said George Conniff, president, Bechtel Telecommunications. ``As one of the leading global providers of infrastructure construction services, Bechtel has been instrumental in helping communications companies bring networks online faster. We are confident that through this agreement, we will help complete the build-out of MFN's networks while maintaining its high standards of quality, time to market and low cost. ''
About Bechtel Corporation
Bechtel has provided engineering, procurement, construction, and management services on 20,000 projects for customers in 140 nations on all seven continents. Bechtel's telecommunications line of business has emerged as a leader in the telecommunications network deployment market by providing these services to companies implementing both wireless and wireline networks on a global basis. Bechtel's web site can be found at www.bechtel.com.
About Metromedia Fiber Network
Metromedia Fiber Network, Inc., the leading provider of end-to-end optical network solutions, is revolutionizing the fiber-optic industry. By offering virtually unlimited, unmetered bandwidth at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Metromedia Fiber Network is extending metropolitan fiber-optic infrastructure to the end user in strategic top-tier markets, enabling its customers to implement the latest data, video, Internet and multimedia applications. In addition to its current expansion in 51 cities in North America, Metromedia Fiber Network is establishing an international presence with planned fiber-optic network builds in 16 cities throughout Europe.
Together with its subsidiaries, AboveNet Communications, Inc., a leading provider of co-location and Internet connectivity solutions, and Paix.net, Inc., the leading neutral Internet Exchange, Metromedia Fiber Network is unleashing the full potential of the Internet. The combined company facilitates the explosive growth of e-commerce and advanced Internet applications by delivering secure, reliable and scalable optical networks and IP services to Internet content and service providers, carriers and enterprise users worldwide. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.
This news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as described from time to time in the SEC reports filed by Metromedia Fiber Network, including the Company's most recently filed Forms S-3, 10-K and 10-Q.
Contact:
Media Relations
Gibbs & Soell, Inc.
Gary J. Gatyas, Jr., 212/697-2600
ggatyas@gibbs-soell.com
or
Metromedia Fiber Network
Kara Carbone, 914/683-6386
kcarbone@mmfn.com |
