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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: larry pollock who wrote (10943)	6/27/2001 2:52:44 PM
From: larry pollock	Read Replies (1) \| Respond to of 14638

Sprint, Nortel Networks Agree to Wireless Services, Equipment RELATED SYMBOLS: (FON)(NT)(PCS) BOSTON and KANSAS CITY, Mo., Jun 27, 2001 /PRNewswire via COMTEX/ -- Nortel Networks* (NYSE: NT; Toronto) and Sprint (NYSE: FON, PCS) today announced agreements estimated to be worth up to approximately US$1 billion over three years to deploy enhanced wireless network equipment and professional services to support the continued expansion of the Nortel Networks portion of Sprint's nationwide PCS wireless network. The agreement extends and expands the existing five-year relationship between Nortel Networks and Sprint to further enhance Sprint's high-speed PCS wireless network. Under terms of the agreements, Nortel Networks will deploy radio base station and intelligent core networking equipment. These agreements are congruent with Sprint's planned enhancements to its wireless PCS network infrastructure and are a key part of its migration to third generation (3G) services. These enhancements, combined with Sprint's overall upgrade of its entire PCS network, are intended to provide 'always on,' next generation wireless services to consumer and business subscribers. Higher speeds are expected to enable consumers to download music and data to portable wireless devices such as phones, laptops and personal digital assistants (PDAs) directly from the Internet. Business customers are expected to be able to open e-mail attachments using wireless modems in their laptops without seeking a payphone or using expensive hotel connections. "Nortel Networks and Sprint PCS have a long-standing relationship in not only optimizing technology, but speeding delivery of new, innovative wireless services for our subscribers," said Dennis Huber, senior vice president, network/IT, Sprint PCS. "Nortel Networks Wireless Internet solutions are positioning Sprint PCS to offer reliable, cost-effective, high capacity wireless services that can drive higher profits and customer loyalty," said Frank Plastina, president, Wireless and Core Solutions, Nortel Networks. "This win demonstrates our leadership and growing momentum in the global Wireless Internet race." Later this year, Nortel Networks is scheduled to begin 3G upgrades to its base stations in Sprint's existing PCS network. Sprint is a global communications company serving 23 million business and residential customers in more than 70 countries. With more than 80,000 employees worldwide and $23 billion in annual revenues, Sprint is widely recognized for developing, engineering and deploying state of the art network technologies, including the United States' first nationwide all-digital, fiber-optic network. Sprint's award-winning Tier 1 Internet backbone is being extended to key global markets to provide customers with a broad portfolio of scaleable IP products. Sprint's high-capacity, high-speed network gives customers fast, dependable, non-stop access to the vast majority of the world's Internet content. Sprint also operates the largest 100-percent digital, nationwide PCS wireless network in the United States, already serving the majority of the nation's metropolitan areas including more than 4,000 cities and communities.