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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (2485)	9/18/2000 4:01:39 PM
From: SecularBull	Read Replies (1) \| Respond to of 3873

I'd be a buyer, but it could always go lower (or not...) LoF

To: Jill who wrote (2485)	9/19/2000 8:18:11 AM
From: SecularBull	Respond to of 3873

Level 3 Launches Service in Hong Kong Company's First Advanced Data Center in Asia Opens Ahead of Schedule Level 3 Extends Leadership Position in Internet Market Which Is Projected To Reach $2.4 Billion by 2003 BROOMFIELD, Colo., Sept. 19-- Level 3 Communications, Inc. (Nasdaq: LVLT - news) today announced it is now offering low cost bandwidth services to Internet and Web-based companies in Hong Kong, including nearly 200 Internet service providers (ISPs). The company, with the opening of its first advanced data center facility in Asia, has extended its leadership position in an Internet market that industry analyst firm IDC projects will reach $2.4 billion by 2003. Opening for service a full quarter ahead of schedule, the new 80,000 square foot advanced data center will be the hub of Level 3's Asian operations and house its regional Network Operations and Customer Care Centers. The facility will be connected directly to the company's undersea cable system, which will link Asia with Level 3's U.S. and European networks. ``The opening of our facility in Hong Kong, and the connection it brings to the rest of our global network, means we will break new ground in the market here in terms of bandwidth capacity and pricing,'' said Steve Liddell, chief executive officer of Level 3 in Asia. ``Our aim is to stimulate creation and growth of new Internet-enabled industries in Asia by reducing the cost of bandwidth, which currently is about 8-10 times higher than in the United States or Europe. As we reduce the cost of bandwidth over time, we believe demand will continue to rise even faster.'' Level 3's entrance into the Hong Kong market marks the beginning of the company's operational rollout in Asia. Level 3 is nearing the end of preparations to launch Internet and communications services in Tokyo, and recently announced plans to expand into Taipei, Taiwan and Seoul, Korea by the second half of 2001. The company's expansion into these important markets is fully pre-funded as part of its global business plan. ``Level 3 is well ahead of schedule in building an IP-based fiber optic cable system in Asia,'' said Liddell. ``Customers who choose to colocate in Level 3's Hong Kong Gateway will not only enjoy cost-effective global IP connectivity and advanced network management, but also access to other products and services that will help to drive down their costs even further.'' Level 3's advanced data centers, called ``Gateways,'' are connected to the company's international Internet Protocol-based network. Gateways serve as portals to the network and provide a secure environment in which Web-centric companies can physically locate their equipment. The facilities also house Level 3's own equipment and offer customers interconnection with the public Internet and other local and long distance networks. Level 3 currently operates 44 Gateways in the United States, Europe and Asia. The company has secured more than 4.4 million square feet of data center space around the world and pre-funded the acquisition and construction of another 2.1 million square feet. Level 3's continuously upgradable network features advanced technology that provides high-quality, low-cost services that enable web-centric businesses to add value and, in turn, deliver their services to end-users, including residential customers. Level 3 enables web-centric companies to grow more rapidly by providing infrastructure and network services to help them meet increasing demand for e-commerce, streaming audio and video, and many other Web-based services. About Level 3 Communications Level 3 (Nasdaq: LVLT - news) 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 European and Asian markets connected by an approximately 16,000 mile U.S. intercity (long-distance) network, an approximately 4,750 mile European intercity 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 second ring European intercity network by the fourth quarter of 2000. Level 3 currently offers broadband infrastructure services in 38 U.S. markets, five European markets and one Asian market. Its Web address is www.Level3.com. (*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. SOURCE: Level 3 Communications, Inc.