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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?


To: DukeCrow who wrote (12081)6/20/2001 1:40:43 AM
From: DukeCrow  Respond to of 15615
 
Tuesday June 19, 2:36 pm Eastern Time

Press Release

Loral CyberStar Chosen by Global Crossing to Provide Two-way Broadband Communications for British Embassies Worldwide Addition of Satellite Services Allows All Embassies Reliable, Secure Broadband Connectivity

ROCKVILLE, Md.--(BUSINESS WIRE)--June 19, 2001-- Loral CyberStar today announced that it has been awarded a multiyear contract to provide very small aperture terminal (VSAT) services to Global Crossing, one of the world's largest telecommunications service providers. In support of Global Crossing's contract to develop a virtual private network (VPN) for British embassies worldwide, CyberStar's two-way VSAT network will deliver secure voice, data, and Internet services to embassies in hard-to-reach and infrastructure-deficient regions of the world.

Global Crossing will implement and support the UK government's Foreign and Commonwealth Offices' (FCO) telecommunications network (FTN) and provide managed voice, data, and messaging services to approximately 10,000 users in 240 British embassies, consulates, high commissions, and diplomatic missions worldwide. To ensure universal access to broadband, integrated and flexible communications, CyberStar's VSAT solution will allow all British embassies to have the same high-quality, secure and reliable communications.

``VSATs were the only solution for many embassies where local telecommunications is either nonexistent or unsuitable for the sensitive nature of the traffic embassies send,'' said Martin Lea, UK managing director, Global Crossing. ``We won this contract because of our ability to provide the FCO with a variety of options based on the needs of each individual embassy. CyberStar's global presence and experience in operating large managed data VSAT networks are the perfect complement to our own extensive terrestrial communications and Internet Protocol network.''

CyberStar's flexible and reliable multiplexed network provides secure, resilient, and cost-effective connectivity for both point-to-point and point-to-multipoint communications with no intervening terrestrial links. Its high rate of availability ensures support for critical communications and its dedicated bandwidth can be increased from 64Kbps to 320Kbps without expensive and time-consuming equipment changes. CyberStar's easily installed VSATs will give the UK FCO the flexibility to quickly deploy, redeploy and upgrade sites as its networking needs change around the world.

``The addition of VSATs to this network will allow the FCO to create a single, online global organization with the most up-to-date communications available to all,'' said Chris Chaney, vice president and general manager, Loral CyberStar. ``CyberStar offers Global Crossing a rapidly deployed solution and quality of service that will help its customer achieve a global and consistent communications for data, voice, intranet, fax, email, and Internet services to all British FCO locations.''

About Global Crossing

Global Crossing Ltd. (NASDAQ: GBLX - news) is building, and offering services over, the world's first global fiber optic network, which will have more than 101,000 route miles, serving five continents, 27 countries, and more than 100 major cities. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Morristown, New Jersey; Rochester, New York; and Miami, Florida. Visit Global Crossing at www.globalcrossing.com. Visit Global Crossing in the UK at www.global-crossing.co.uk.

About Loral CyberStar

Loral CyberStar is a leading satellite provider of high-quality data, voice, video, and Internet backbone delivery to multinational enterprises and Internet service providers (ISPs). Using its global IP multicast network, CyberStar quickly and efficiently distributes multimedia and data-intensive content around the world via innovative high-speed satellite links that avoid network congestion, Internet bottlenecks, and underdeveloped infrastructure. Regardless of geographic location, time differences, or ``last-mile'' barriers, CyberStar can deliver data, broadband, streaming media, web-casts, and Internet backbone connectivity that meet end-user expectations. For more information, visit CyberStar's Web site at www.cyberstar.com.

About Loral Space & Communications

Loral Space & Communications (NYSE: LOR - news) is a high technology company that concentrates primarily on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, Internet services, and broadband data services including business television, distance learning and video to the desktop. For more information, visit Loral's Web site at www.loral.com.

--------------------------------------------------------------------------------
Contact:

CyberStar, Rockville
Gayle Armstrong
Tel: 301-258-3341
garmstrong@CyberStar.com



To: DukeCrow who wrote (12081)6/20/2001 10:24:13 AM
From: trainleaving  Respond to of 15615
 
Maybe it's because of the other joint owner's of AX, which include Microsoft and Softbank.



To: DukeCrow who wrote (12081)6/20/2001 11:20:26 PM
From: Theophile  Respond to of 15615
 
I am watching LVLT bonds and they continue to decline. The way GX bonds stayed solid and then dumped along with the big PR push by the media against fiber leaves me questioning this.

As for AGCX, I do not believe they have all that heavy debt which GX engaged on the open market, rather it is more of a JV. I am not sufficiently capable nor familiar with, the numbers to derive any meaningful comments for AGCX bonds. With Softbank, Hutchison Whampoa, A Japanese consortium (Marubeni Corp = 35% of PC-1), and Micro$oft in the deal, who would default? Aside from the fact that PC-1 is extremely valuable all of a sudden....and other regional players are incapable of delivering the goods.

PS: Marubeni holds significant portion of FLAG, are one of eight major holders. Also holds the key (apparently) to landing in Japan<g>, as they own backhaul facilities, political connections, etc.

Martin