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

To: Greg h2o who wrote (30)	5/7/1998 11:18:00 PM
From: MangoBoy	Read Replies (2) \| Respond to of 1983

[Metromedia Fiber Network Announces Major Expansion Plans in Northeast Corridor] Company To Build Intra-city Network in Boston and Acquires Inter-city Link Connecting Boston to New York NEW YORK--(BUSINESS WIRE)--April 28, 1998-- Metromedia Fiber Network, Inc. today announced plans to build an intra-city network in the Boston metropolitan area, increasing the total number of Tier One markets in which the Company will offer local fiber optic infrastructure to five. The Company also announced the signing of a 25-year agreement enabling Metromedia Fiber Network to extend its fiber optic network north of New York and into the Boston metropolitan area. "Our extension into Boston will further enhance our unprecedented offering to corporations, carriers, and government agencies -- the ability to lease unmetered and virtually unlimited bandwidth along a single network connecting New York, Washington, D.C., Chicago, Boston, and Philadelphia," said Howard Finkelstein, President of Metromedia Fiber Network. "We plan for our Boston metropolitan area network to encompass the major business districts of Boston as well as the area's renowned universities and the numerous high-technology corporations along the Route 128 corridor." Metromedia Fiber Network's intra-city networks are being built along strategic routes, passing key corporate centers, government buildings, and the major switching centers of local and long distance carriers. The extension of the Company's network north to Boston enhances its ability to provide high-capacity, low-cost connectivity to the many financial, government, technology, and educational organizations throughout the Northeastern United States, and the Chicago area. Headquartered in the New York area, 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 and government customers requiring secure communications networks for the transmission of large amounts of voice, data, and video. 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, Washington D.C., and Boston, and an inter-city link between New York and Washington D.C. The Company has established a joint venture with Racal Telecom of the United Kingdom and will begin providing broadband capacity between the United States and the United Kingdom later this year. For more information about Metromedia Fiber Network, please visit the company's Web site at mmfn.com. CONTACT: Media Relations Judy Sweeney/David King G. S. Schwartz & Co. 212-725-4500 dking@schwartz.com or Investor Relations Eric Leeds G. A. Kraut Company Inc. 212-696-5600