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

To: MangoBoy who wrote (38)	7/9/1998 10:15:00 AM
From: MangoBoy	Respond to of 1983

[Metromedia Fiber Network Signs Three New Contracts Totaling More Than $11.7 Million] Allegiance Telecom And Two Others To Lease Fiber Strands on Metromedia Fiber Network's New York Metropolitan Area Network NEW YORK--(BUSINESS WIRE)--July 9, 1998-- Metromedia Fiber Network, Inc. (NASDAQ:MFNX) announced today the signing of three separate agreements with one corporate and two carrier customers to provide each with dark fiber optic telecommunications networks in the New York Metropolitan Area. The total value of the three contracts is in excess of $11.7 million. The first agreement, a 10-year lease with Allegiance Telecom, provides Allegiance with access to multiple strands of single-mode fiber arranged in various ring configurations along Metromedia Fiber Network's New York City network. "This contract with Allegiance Telecom is a perfect example of what our state-of-the-art fiber optic network can do to foster telecommunications competition in major U.S. cities," said Howard Finkelstein, President of Metromedia Fiber Network. "By providing carriers with the infrastructure, we are allowing them to provide service without having to lay their own cable or go through a time-consuming construction process." Separately, Metromedia Fiber Network also announced the signing of a five-year contract with a major carrier, providing the carrier with multiple fibers covering four different routes throughout the New York Metro Area. A third contract was signed with a major financial institution and will provide the global, full-service securities firm with building-to-building connectivity from New York City to suburban New Jersey. This is the eighth prominent financial institution to become a customer of Metromedia Fiber Network.