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Technology Stocks : COLT Telecom (COLT) -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (7)	6/2/1998 10:35:00 AM
From: MangoBoy	Read Replies (1) \| Respond to of 95

[COLT Telecom Launches Commercial Service in Zurich] LONDON, June 2 /PRNewswire/ -- COLT Telecom Group plc announced today that it had launched commercial service in Zurich, Switzerland ahead of schedule. The initial 15 route kilometres of digital fibre-optic network covers Zurich's financial and business district with plans for further expansion during the rest of the year. COLT's first customer in Zurich is Julius Baer, Switzerland's largest private banking group, with three business centres connected to the network and private wire services ranging from 2 Mbit/s circuits through to 155 Mbit/s rings being provided. Paul Chisholm, COLT President and CEO said: "COLT's aggressive pan-European expansion continues apace. With the launch of service in Zurich we are now providing COLT's brand of high quality value for money service in seven markets in four countries. COLT service is planned to be available in 12 markets in 8 European countries by the end of the year." Roger Gehrig, COLT's Managing Director for Switzerland said: "COLT has demonstrated its undisputed leadership in providing high quality service in other markets and we intend to deliver that same high quality here in Zurich. Initial customer interest is strong and we look forward to our Zurich operation mirroring the success we have achieved elsewhere." Gehrig added: "We have also recently signed an agreement with Swisscom to interconnect our respective networks and now have all the building blocks in place to offer a full range of private wire and switched services to our customers." COLT Telecom Group plc (COLT) is a leading provider of telecommunications services to corporate and carrier customers in Europe. It currently has operations in 7 European cities with plans well advanced to be operational in 12 cities by the end of 1998. During the year ended December 1997 COLT more than doubled its turnover to pounds sterling 81.5 million and carried over 1.4 billion minutes of traffic. At 31 March 1998 it had installed 635 route kilometres of fibre optic cable; provided 710,000 private wire voice grade equivalents; had 1,371 buildings connected to its networks; and 1,372 directly connected customers.