PRTL PRIMUS Telecommunications Issues Statement Of Clarification Regarding Form
144 Registration Information
MCLEAN, VA, Jan 17, 2002 (INTERNET WIRE via COMTEX) -- PRIMUS
Telecommunications Group, Incorporated (NASDAQ: PRTL), a global facilities-based
Total Service Provider offering an integrated portfolio of voice, data,
Internet, and hosting services, today issued the following statement to clarify
an outdated Form 144 notice filing:
ADow Jones report was published today based on information from Washington
Service/Brick Securities citing a 500,000 share Form 144 notice filing
concerning stock of PRIMUS Telecommunications Group, Incorporated by K. Paul
Singh, PRIMUS's Chairman and Chief Executive Officer. The Form 144 filing
actually was made with the Securities and Exchange Commission (SEC) in December
of 2001. Pursuant to that filing, in November 2001 , Mr. Singh sold 265,000
shares of PRIMUS stock for tax and estate planning purposes. At this time, Mr.
Singh has no intention to sell the remaining shares listed in the Form 144
notice
PRIMUS Telecommunications Group, Incorporated (NASDAQ: PRTL) is a global
facilities-based Total Service Provider offering bundled voice, data, Internet,
digital subscriber line (DSL), Web hosting, enhanced application, virtual
private network (VPN), and other value-added services. The Company owns and
operates an extensive global backbone network of owned and leased transmission
facilities, including over 300 IP points-of-presence (POPs) throughout the
world, ownership interests in over 23 undersea fiber optic cable systems, 23
international gateway and domestic switches, a satellite earth station and a
variety of operating relationships that allow the Company to deliver traffic
worldwide. PRIMUS has been expanding its e-commerce and Internet capabilities
with the deployment of a global state-of-the-art broadband fiber optic ATM+IP
network. Founded in 1994 and based in McLean, VA, the Company serves corporate,
small- and medium-sized businesses, residential and data, ISP and
telecommunication carrier customers primarily located in the North America,
Europe and Asia Pacific regions of the world. News and information are available
at the Company's Web site at www.primustel.com.
Statements contained herein may be "forward looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements are based on
current expectations, are not strictly historical statements, and may differ
materially from actual results. Forward looking statements include without
limitation, those regarding management's plans, goals, expectations, guidance,
forecasts, objectives, strategy and timing for future operations and products.
Among factors that could cause actual results to differ materially from forward
looking statements are changes in business conditions; changes in the
telecommunications or Internet industry or the general economy or capital
markets; DSL, Internet and telecom competition; changes in service offerings or
business strategies; inability to lease space for data centers at commercially
reasonable rates; difficulty in provisioning Voice over IP services; changes in
the regulatory schemes and regulatory enforcement in the markets in which we
operate; restrictions on our ability to follow certain strategies or complete
certain transactions as a result of our capital structure or debt covenants; the
possible inability to raise capital when needed, or at all; the inability to
reduce, exchange or restructure debt significantly, or in amounts sufficient to
conduct regular ongoing operations; risks associated with PRIMUS's limited DSL,
Internet and web-hosting experience and expertise, entry into developing
markets, the possible inability to hire and/or retain qualified sales, technical
and other personnel, particularly as we continue to attempt to grow our
data-centric services, and managing rapid growth; risks associated with
international operations (including foreign currency translation risks);
dependence on effective information systems; dependence on third parties to
enable us to expand and manage our global network and operations; changes in
financial, capital market and economic conditions; and dependence on the
implementation and performance of PRIMUS's global ATM+IP communications network.
These factors are discussed more fully in PRIMUS's public filings, including its
most recent 10-Q and 10-K filings with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date these statements were made. PRIMUS
is not necessarily obligated to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
CONTACT: Jordan Darrow
PRIMUS Telecommunications Group, Inc.
212-703-0116
Copyright 2002 Internet Wire, All rights reserved.
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