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Technology Stocks : Genuity, Inc. (GENU) -- Ignore unavailable to you. Want to Upgrade?

To: Ms. Baby Boomer who wrote (394)	9/5/2002 10:32:56 AM
From: Ms. Baby Boomer	Read Replies (1) \| Respond to of 456

Allegiance Telecom Modifies Genuity Pact Payment Schedule Dow Jones Business News Tuesday September 3, 11:58 am ET DALLAS -(Dow Jones)- Allegiance Telecom Inc. (NasdaqNM:ALGX - News) altered a $563 million agreement with its largest customer, a unit of Genuity Inc. (NasdaqNM:GENU - News) , so that payments will arrive quarterly rather than twice a year. Allegiance, a provider of telephone and Internet service to businesses, said in a press release Monday that it has received full payment for work it performed in the third quarter for Genuity Solutions Inc. The companies didn't modify any other terms of the contract in which Allegiance provides Genuity Solutions with an integrated data-network system. An Allegiance spokesman said the change wasn't in response to any cash shortfall it faced in the period before being paid or to any concerns that Genuity Solutions wouldn't be able to make payments. Instead, a spokesman said the deal would simply "smooth out lumpy payments." Shares of Allegiance traded recently traded at 74 cents, down a penny, or 1.3% , on Nasdaq volume of 1.53 million shares. Average daily volume is 1.52 million shares. Shares of Genuity, Woburn, Mass., traded recently at 29 cents, up 2 cents, or 7.4%, on Nasdaq volume of 17,200 shares. Average daily volume is 449,000 shares. Company Web site: aglx.com -Tim Paradis; Dow Jones Newswires; 201-938-5400 biz.yahoo.com