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

To: MangoBoy who wrote (31)	5/12/1998 11:17:00 AM
From: MangoBoy	Respond to of 1983

[Metromedia Fiber Network Signs $6.1 Million Contract With Hyperion Telecommunications] NEW YORK CITY--(BUSINESS WIRE)--May 11, 1998--Metromedia Fiber Network, Inc. (NASDAQ:MFNX) announced today that it has signed a prepaid $6.1 million, 20-year contract with Hyperion Telecommunications to provide fiber optic telecommunications facilities from New York to Washington, D.C. and within the New York Metropolitan Area. "Communications carriers, such as Hyperion, are acting to ensure that they have the resources available to meet their customers' growing network requirements in the next century," said Howard Finkelstein, President of Metromedia Fiber Network. "We are in the business of providing carriers with those resources." Under the terms of the agreement, Metromedia Fiber Network will provide Hyperion with multiple fibers on a route connecting Washington, D.C. to New York City and continuing through the New York Metropolitan Area to Stamford, Connecticut. With Metromedia Fiber Network's advanced fiber infrastructure, Hyperion will have the ability to add bandwidth as required to meet increasing capacity demands. "As we implement our expansion plans, we have found that Metromedia Fiber Network's dark fiber solution offers us both cost and technological advantages," said Dan Milliard, President and Chief Operating Officer of Hyperion. "By providing us with state-of-the-art fiber infrastructure along the strategic northeast corridor, Metromedia Fiber Network is allowing us to expand our scope of operations without the expense of building the infrastructure ourselves." Hyperion Telecommunications, Inc. was formed in the fall of 1991 as a subsidiary of Adelphia Cable Inc., a cable television company. Hyperion was formed as a competitive access provider to provide competitive access telecommunications services in metropolitan areas in the eastern half of the United States. These services included the provision of local dial tone and long distance services, as well as special access for long distance carriers and a variety of point-to-point circuits for business users. 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. The advanced network architecture is capable of supporting cutting edge technologies including SONET, DWDM (dense wave division multiplexing), ATM, and gigabit ethernet. 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, 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 service between the United States and the United Kingdom in 1998. For more information about Metromedia Fiber Network, please visit the company's Web site at mmfn.com. This news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as described from time to time in the SEC reports filed by Metromedia Fiber Network, including the most recently filed Form 10-K. CONTACT: Media Relations: David King/Judy Sweeney G.S. Schwartz & Co 212-725-4500 dking@schwartz.com or Investor Relations: Eric Leeds G.A. Kraut Co. Inc. 212-696-5600

To: MangoBoy who wrote (31)	5/12/1998 11:20:00 AM
From: MangoBoy	Read Replies (2) \| Respond to of 1983

[Metromedia Fiber Network Signs $33.2 Million Contract With PSINet to Provide Dark Fiber Network in Northeastern US] NEW YORK--(BUSINESS WIRE)--May 12, 1998--Metromedia Fiber Network, Inc. today announced the signing of a $33.2 million, 20 year contract with PSINet Inc. to lease PSINet dark fiber infrastructure in the Northeastern corridor of the United States. PSINet is the first Internet Service Provider (ISP) to take advantage of Metromedia Fiber Network's dark fiber service offering. "Metromedia Fiber Network is introducing the ISP marketplace to a new concept in network infrastructure -- dedicated dark fiber," said Howard Finkelstein, President Metromedia Fiber Network. "As Metromedia Fiber Network's first ISP customer, this contract with PSINet marks a major milestone for us. PSINet is a leader in the Internet marketplace, and their recognition of the value of our unique service offering indicates that the ISP market is ready to accept dedicated dark fiber as a new way to build their businesses." Under the terms of the agreement, PSINet has procured a long term lease for multiple fibers for its exclusive use from Metromedia Fiber Network in the New York Metropolitan Area, the Washington, D.C. Metropolitan Area, and the corridor connecting New York and Washington, D.C., passing through Newark, Philadelphia, Wilmington, and Baltimore. PSINet will use this infrastructure to connect various points of presence and data centers throughout the region. Dedicated dark fiber offers many advantages over traditional leased capacity including the ability to add bandwidth as business requirements increase with no corresponding increase in cost. PSINet will be able to utilize the newest optical electric equipment to light the fiber, upgrading the equipment as required for more capacity while using the same fiber strands through the twenty year life of the contract. "With the addition of Metromedia Fiber Network's state-of-the-art network, we believe we have sufficient bandwidth for our backbone capacity requirements in the New York and Washington, D.C. metropolitan areas, as well as between the two cities. These represent some of the most lucrative telecommunications markets in the world given the large numbers of business and government users," said William Schrader, Chief Executive Officer, PSINet. "With this network expansion, we will be in a position to reach these markets with our current Internet connectivity services and with new types of services such as IP/Voice products, thereby maintaining our leadership position in the business communications marketplace in the 21st Century."