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Technology Stocks : Viatel (VYTL) -- Ignore unavailable to you. Want to Upgrade?

To: Sanjay Jain who wrote (24)	2/3/1998 1:22:00 PM
From: blankmind	Respond to of 157

Viatel Announces Intention to Build Pan-European Fiber Network Feb-03-1998 7:19 AM, PRNewswire, NEW YORK, Feb. 3 /PRNewswire/ -- Viatel, Inc. (Nasdaq: VYTL), a provider of international and domestic long-distance telecommunications services, today announced its intention to build a Pan-European, fiber-optic network. Current plans call for construction of a "self-healing," 20 Gbps SDH fiber-optic ring, utilizing advanced wave division multiplexing (WDM) technology, and connecting select cities in Belgium, France, the Netherlands and the United Kingdom. Viatel expects to make excess capacity on the network available to other carriers. Assuming that the company obtains the necessary financing, Viatel expects construction of the network, known as Circe, to begin in late Spring, 1998, and that Circe will be operational in 1999. Headquartered in New York, NY, Viatel is a facilities-based international and domestic long-distance telecommunications company with network points of presence in 30 European cities, and operations in the United States, Latin America and the Pacific Rim. The Company offers a broad array of competitively priced, value-added international and domestic long-distance services. Its customers are primarily small and medium-sized businesses. Viatel provides long-distance service to more than 230 countries and territories worldwide through its international network. The matters discussed in this release are forward-looking statements that involve risks and uncertainties, including the continued deregulation of the European Union member states in which the Company does business and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including construction risks, financing risks and those contained in the Company's Annual Reports on Form 10-K for the year ended December 31, 1996. Viatel undertakes no duty to update such forward-looking statements. SOURCE Viatel, Inc. (Copyright 1998)