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Technology Stocks : METROMEDIA FIBER NETWORK (MFNX) -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (16)	3/18/1998 4:19:00 PM
From: TheSlowLane	Read Replies (1) \| Respond to of 1983

SteveG - I see you've wandered out of the WinStar neighborhood. Christ I wish I owned this one. While MFNX is John Kluge's domestic play, have you ever looked at MMG, his telecom empire-in-the-making for Eastern Europe and China? Big believer in fixed wireless (and fiber, or course). That idled at 11 for a looooooong time, but is starting to spike up nicely of late, especially the last couple of weeks. I'd love to hear your thoughts on it if you have any. Sorry to clutter the MFNX thread with MMG stuff, but they come from the same stock...so to speak.

To: SteveG who wrote (16)	3/18/1998 4:23:00 PM
From: TheSlowLane	Respond to of 1983

Metromedia Fiber Network and Racal Telecom Name Transatlantic Joint Venture ION Vincent A. Galluccio Named As ION President Tuesday March 17, 1:34 pm Eastern Time Company Press Release NEW YORK--(BUSINESS WIRE)--March 17, 1998-- Metromedia Fiber Network, Inc. (NASDAQ:MFNX - news), and Racal Telecom announced today that their joint venture to provide broadband transatlantic communications services will be named International Optical Network, LLC (ION). In addition, Vincent A. Galluccio, Senior Vice President and member of the Board of Directors of Metromedia Fiber Network, was named as ION's President. The ION joint venture represents the first stage of a strategy for expanding Metromedia Fiber Network's reach and services into the heart of European business communities while accomplishing the same goal for Racal in the U.S. ION will offer customers seamless, building-to-building connectivity, high bandwidth capacity at highly competitive prices, and bulk traffic capacity and services to the transatlantic carrier market. The initial service offering, scheduled to be available in May, will include resilient fiber optic-based, international bandwidth capacity. During 1998, the managed service portfolio will be expanded to cover transatlantic LAN interconnection and ATM services. ''ION represents a critical link for many of today's large multi-national companies who have major offices in both the U.S. and the United Kingdom and throughout Europe,'' said Vincent Galluccio, President of ION. ''By combining the resources of two leading fiber optic infrastructure companies, ION will be able to connect corporate customers on one side of the Atlantic to their offices on the other side, with a seamless, point-to-point network while at the same time responding to increasing carrier demand for international connectivity. ION will not only address current communications technologies, but will also offer high-capacity managed bandwidth services on an economical scale.'' Mr. Galluccio has extensive experience in international business and the telecommunications industry, having spent a combined total of more than 25 years with British Telecommunications Plc. and International Business Machines Corp [NYSE:IBM - news]. Mr. Galluccio will continue as a Senior Vice President and a member of the Board of Directors of Metromedia Fiber Network. His new responsibilities with ION will include defining the international scope of the joint venture as well as bottom line profitability. Racal Telecom is Europe's leading provider of managed network and support services, according to a new report by CIT Research, which also ranks the company as the UK's largest provider ahead of BT, Cable & Wireless Communications and AT&T UK. Racal Telecom provides a full range of managed telecommunication services including voice, data, Internet, messaging, mobile cellular and multi-media communications to organizations primarily in the Government, transportation, retail, financial services and manufacturing sectors. The company is part of the Racal Electronics Group which has an annual revenue of more than (pound) 1 billion. Metromedia Fiber Network provides technologically advanced, high-bandwidth, private, fiber optic communications infrastructure within major U.S. markets. The Company provides its infrastructure to communications carriers competing in the local, long distance, wireless, and Internet markets as well as corporate/government customers requiring secure communications networks for the transmission of large amounts of voice, data, and video. Headquartered in the New York area, Metromedia Fiber Network currently operates a fiber optic metropolitan area network in New York and is developing local fiber optic infrastructure along strategic routes in Chicago, Philadelphia and Washington D.C. and an inter-city link between New York and Washington D.C. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com.