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Technology Stocks : 360Networks - TSX - TSIX -- Ignore unavailable to you. Want to Upgrade?

To: D.B. Cooper who wrote (95)	2/26/2001 10:10:23 PM
From: D.B. Cooper	Read Replies (1) \| Respond to of 449

Monday February 26, 9:26 am Eastern Time Press Release SOURCE: 360networks inc. Verio expands its IP backbone using 360networks' global circuits Agreement worth an estimated US $30 million VANCOUVER, Feb. 26 /PRNewswire/ - 360networks announced today it will provide high-speed optical services to Verio, the world's largest Web hosting company and a leading Internet services provider. 360networks will provide these services over the next three years on routes in North America and Europe as well as on 360atlantic, its transatlantic submarine cable. The value of the agreement is projected at approximately US $30 million. 360networks will provide Verio - a subsidiary of NTT Communications Corporation - with OC-48 (2.5 gigabits per second) optical VPN (virtual private network) transport service on routes such as Chicago to New York, Dallas to Atlanta and Washington, D.C. to Palo Alto, California. The optical VPN service will enable Verio to upgrade to OC-192 (10 gigabits per second) circuits at any time. In addition, 360networks will provide Verio with an STM-16 (2.5 gigabits per second) circuit on 360atlantic and multiple STM-4 (622 megabits per second) circuits on routes connecting London, Amsterdam and Frankfurt. Under this agreement, NTT Communications Corporation and its affiliates may also purchase services from 360networks. ``We selected 360networks for its unparalleled optical mesh network, bandwidth capabilities and unique optical VPN service,'' said Chris DeMarche, chief technology officer of Verio. ``360networks has the technology vision we need to help us develop the most advanced and cost-efficient IP backbone network.'' ``We are pleased that Verio is leveraging our global circuits as well as our flexible, scalable optical solutions to extend its backbone network and expand into Europe,'' said Jim Brennan, senior vice-president of global sales and marketing at 360networks. ``As a result of our agreement, Verio will be the first major ISP to use an optical VPN as part of its backbone.'' About 360networks 360networks (NASDAQ: TSIX and TSE: TSX) offers broadband network and colocation services to telecommunications and data-centric organizations. 360networks is developing one of the largest and most technologically advanced fiber optic mesh networks in the world. By mid-2002, the planned network will span 143,000 kilometers (89,000 miles) and link more than 100 major cities with terrestrial routes and submarine cables joining North America, South America, Asia and Europe. 360networks is also developing nearly 3.7 million square feet of network and server colocation space. More information is available at www.360.net. About Verio Inc. Verio Inc. is a wholly-owned subsidiary of NTT Communications Corporation (NTT Com), which provides long distance and international telecommunications reaching over 200 countries worldwide. Verio is the world's largest operator of Web sites for businesses and a leading provider of comprehensive Internet services. The company offers customers a broad range of Internet solutions, including Web hosting, e-commerce, virtual private networks and managed service offerings, among other enhanced services. Verio supports its operations with highly reliable and scalable global infrastructure and systems including a Tier One network, and provides Web-hosting services to customers in more than 170 countries. The combination of Verio and NTT Com offers services to meet the growing and diverse needs of all businesses, including small to medium enterprises, large global enterprises, multi-national corporations, and Web-centric firms. More information can be found at www.verio.com and www.ntt.com/index-e.html. Forward looking statements: This document may contain statements about expected future events and financial results that are forward looking in nature, and, as a result, are subject to certain risks and uncertainties. Scheduled completion of network segments may not be met because of factors, such as construction, permitting or licensing delays. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbor for ``forward looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. SOURCE: 360networks inc.