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To: Robert T. Quasius who wrote (985)	6/22/2001 8:31:05 AM
From: Jeff Jordan	Read Replies (1) \| Respond to of 2772

...and we KNOW who's products Williams will use to light those fibers don't we.<g>

To: Robert T. Quasius who wrote (985)	6/23/2001 3:25:40 PM
From: gbh	Read Replies (1) \| Respond to of 2772

The WCG CEO better be optimistic His company has at most a year left (probably less than that) before it is bankrupt, like a host of others. From the most recent 10-Q. LIQUIDITY AND CAPITAL RESOURCES Cash sources WCG has approximately $1.3 billion in cash and short-term investments on hand as of March 31, 2000. Additionally, WCG has available, through WCI, its wholly-owned subsidiary, a $1.05 billion credit facility. As of March 31, 2000, there were no borrowings outstanding under this facility. When combined with the ability to monetize its marketable equity securities and the expected proceeds from dark fiber sales, WCG's capital availability exceeds $2.8 billion. Cash uses Capital expenditures - WCG's primary anticipated cash need is funding capital expenditures for its network unit including the purchase and deployment of fiber-optic cable, equipment costs, capitalized interest and other costs. WCG's network construction contracts typically cover all or a portion of a cable construction project. While WCG's network may use the same contractors on different projects, it has no long-term construction agreements. WCG's network has long-term equipment purchase contracts with Nortel, Sycamore and several other equipment vendors. WCG estimates that during the remainder of 2000, it will spend a total of approximately $2.3 billion in capital expenditures, including $2.1 billion on its network. Payments for wireless capacity - As of March 31, 2000, WCG had payments of approximately $215 million remaining on its $400 million commitment under an agreement with Winstar. The payments required during the remainder of 2000 will be approximately $75.6 million. Debt service payments - WCG estimates that during the remainder of 2000 it will pay approximately $240.3 million in interest, based on a weighted-average rate of interest of 10.8% on the notes and average LIBOR over this period of 6.2%. WCG also estimates that it will repay approximately $12.5 million in principal under its Williams note during this period. Lease payments under asset defeasance program - WCG expects that during the remainder of 2000 it will pay approximately $39.9 million in lease payments under the asset defeasance program. Other - Cash also will also be used to fund net operating deficits, for working capital and for other general corporate purposes. WCG believes that the cash and short-term investments on hand, borrowings under bank facilities, monetization of marketable equity securities, proceeds from grants of dark fiber rights and internally generated cash will be sufficient to satisfy anticipated cash requirements through the end of 2000. WCG is considering various business plans under which cash requirements could be between $4 and $5 billion over the course of the next five years. WCG's ability to implement the business plan and meet its projected growth is dependent upon its ability to secure additional financing in the future. In order to meet these levels of future cash requirements, WCG may issue additional debt or equity securities, secure additional credit facilities, sell or dispose of existing businesses or investments, or seek funds from other capital markets. There is no assurance that such financing will be available, if and when it is needed, or that such financing will be on terms acceptable to WCG.