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To: Kenneth E. Phillipps who wrote (6617)	8/24/2000 8:06:13 AM
From: Jerryco1	Respond to of 14638

Level 3 to Install New Generation of Corning Optical Fiber In Multi-Conduit U.S. Network BROOMFIELD, Colo., Aug 24, 2000 /PRNewswire via COMTEX/ -- Level 3 Communications, Inc., (Nasdaq: LVLT) today announced it will deploy a new generation of Corning Incorporated 's (NYSE: GLW) LEAF(R) optical fiber throughout its U.S. inter- city network in a move that will significantly increase the network's capacity and cost efficiency. Level 3 will be the first company to deploy this evolutionary fiber, which will better enable emerging high speed, long reach transport systems. Level 3 has signed a letter of intent to buy more than two million cabled fiber kilometers of third-generation LEAF fiber from Corning. Level 3 plans to begin installing the new generation of fiber in the second conduit of the network in the first quarter of 2001 and expects to be substantially complete by the end of the year. Corning Cable Systems, a wholly owned Corning subsidiary, will continue to provide the cable for all of the LEAF fiber required for this next stage of network development. "We are particularly pleased to announce the deployment of a new generation of LEAF fiber in our multi-conduit network," said Kevin O'Hara, Level 3 president and chief operating officer. "This decision is driven not only by improving technology but by customer demand. Our unique multi-conduit network allows both us and our customers to take advantage of ongoing improvements in optical fiber technology. This upgradable network design enables rapid responses to changes in the marketplace and allows Level 3 to deploy new fiber technologies with unprecedented and unequaled speed." Jack Waters, Level 3 chief technology officer, said the agreement with Corning underscores a fundamental part of the Level 3 business plan. "Our goal is to maintain a significant cost advantage for bandwidth services," Waters said. "We will achieve this by installing new generations of fiber at the optimum rate. By continuously adopting new technologies, we can lower the price of bandwidth services." "Level 3 was Corning's first customer for the earlier generations of LEAF fiber, and today's announcement further underscores the strong relationship between Level 3 and Corning," said Wendell Weeks, Corning's executive vice president, Optical Communications. "Level 3 has been an integral part of our growth plan from the beginning, and they will continue to be in the future. Our companies will continue working together on the development and deployment of future fiber technology in order to optimize key network factors such as bit rate, the available number of light wavelengths and the spacing of regeneration electronics in a way that achieves the lowest unit cost." Alan Eusden, Corning vice president and general manager, Optical Fiber, said, "The new generation of LEAF fiber will offer a polarization mode dispersion (PMD) specification that will be improved by 50 percent over the previous version. The resulting fiber performance will enable Level 3 to significantly increase the transmission distance and data rates of their long haul network, while reducing the need for PMD compensation or signal regeneration." About Level 3 Communications Level 3 (Nasdaq: LVLT) is a global communications and information services company offering a wide selection of IP-based services including broadband transport, colocation services, submarine transmission services and the industry's first Softswitch* based services. Level 3 offers services primarily to Web-centric companies that deliver their services over the Level 3 Network. The Level 3 Network will include metropolitan networks in 56 U.S. markets and 21 international markets connected by an approximately 16,000 mile U.S. inter-city (long-distance) network, an approximately 4,750 mile European inter-city network, both transpacific and transatlantic undersea cables and 6.5 million square feet of gateway and technical space. Level 3 expects to substantially complete the U.S. and first two rings of the European inter-city network by the fourth quarter of 2000. Level 3 currently offers broadband infrastructure services in 38 U.S. markets and five European markets. Its Web address is www.Level3.com. About Corning Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning's revenues in 1999 were $4.7 billion. For more information about Corning's latest generation of LEAF optical fiber, visit www.corningfiber.com/info/leaf_fiber_pmd. (*Softswitches are advanced software based switching systems that enable Level 3 to provide services combining the best features of the Internet and traditional telephone networks.) Some of the statements made by Level 3 in this press release are forward- looking in nature. Actual results may differ materially from those projected in forward-looking statements. Level 3 believes that its primary risk factors include, but are not limited to: substantial capital requirements; development of effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; technology; the number and size of competitors in its markets; law and regulatory policy; and the mix of products and services offered in the company's target markets. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this release should be evaluated in light of these important factors. Note: Corning and LEAF are registered trademarks of Corning Incorporated. SOURCE Level 3 Communications, Inc.