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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Ken98 who wrote (510)	3/24/1998 11:50:00 AM
From: Farnam	Read Replies (1) \| Respond to of 3873

NEWS RELEASE IMMEDIATE RELEASE Contacts: Level 3 Communications: Frontier Corporation: News Media: Josh Howell John Sideline 402/943-1309 408/328-4706 Steve Ingish Michele Sadwick 402/943-1337 716/777-6021 Investors: Julie Stangl Kristen Sullivan 402/943-1310 716/777-6179 FRONTIER AND LEVEL 3 SIGN LANDMARK $165 MILLION DATA NETWORK AGREEMENT Lease Agreement Gives Level 3 National Long Distance Network Initially Connecting 15 Cities Validates Frontier's IP Network Strategy ROCHESTER, NY, and Omaha, NE, March 24, 1998 - Level 3 Communications, Inc. and Frontier Corporation (NYSE:FRO) today announced an agreement enabling Level 3 to lease capacity on Frontier's 13,000 mile SONET fiber optic IP-capable network for a period of up to five years. Valued at approximately $165 million, the leased network encompasses 8,300 route miles of OC12 network capacity, initially connecting 15 of the nation's largest cities. "We are extremely pleased to be working with Frontier, an industry leader in data and network communications services," said James Q. Crowe, president and CEO of Level 3 Communications. "While we are building our own IP-based network, this lease arrangement will give us a network over which we can begin providing service to business customers in several cities during the third quarter of 1998." Crowe noted that the agreement gives Level 3 the option to increase network capacity if needed. "With Level 3 we are providing network capacity to a company that believes in our vision of IP based networks, which will supply voice, fax and data applications to millions of customers," said Joseph P. Clayton, president and CEO of Frontier Corporation. "This agreement leverages our world-class network and data expertise by implementing a leading-edge data and Internet strategy." Level 3 is committed to using state-of-the-art IP technology to provide communications services to business customers. This network decision supports an effort to stimulate growth and provide a scaleable architecture that is more easily upgradeable than older, legacy systems employed by other telecommunications carriers. Frontier Corporation is one of the leading providers of integrated telecommunications services -- including long distance, local telephone, wireless, Internet and data applications - to business customers nationwide. With Frontier's state-of-the-art, self-healing nationwide fiber optic network, customers will enjoy faster transmission speeds, greater bandwidth capacity and unrivaled reliability. Frontier's services are available from one source, on one bill, with one point of customer contract. For more information, visit the Frontier web site at www.frontiercorp.com. Level 3 Communications, Inc. is a telecommunications and information services company that has announced its plans to build and operate an advanced fiber optic network across the U.S., based on Internet technology. Level 3 will focus primarily on the business market using its network to provide a full range of communications services - including local, long distance and data transmission as well as other enhanced services and Internet access services. Plans also call for the company to expand internationally. Level 3's World Wide Web address is www.L3.com. The statements made in this press release, other than historical financial results, may be forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. We believe that our primary risk factors include, but are not limited to: changes in the overall economy; technology; the number and size of competitors in our markets; law and regulatory policy; and the mix of products and services offered in our target markets. Additional information concerning these and other potential important factors can be found within our SEC filings. You should evaluate any statements in light of these important factors. You can receive a faxed copy of any Frontier Corporation press release dating back to March 1997, free of charge, 24 hours a day. Call 1-800-758-5804, extension 762302. An automated system will provide you with instructions. Level 3 Communications, Inc. 3555 Farnam Street Omaha, Nebraska 68131 www.L3.com