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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Furley who wrote (19)	8/14/1998 3:26:00 PM
From: Teddy	Respond to of 15615

Qwest likes Global Crossing. Remember this old press release: QWEST AND GLOBAL CROSSING TO SWAP TRANSATLANTIC HIGH CAPACITY FIBER BETWEEN U.S. CITIES AND EUROPE Denver - April 7, 1998 - Qwest Communications International Inc. and Global Crossing Ltd. today announce an agreement to exchange capacity between Europe and the United States utilizing both companies' state-of-the-art networks - Qwest's Macro Capacity Fiber Network and Global Crossing's Atlantic Crossing ("AC-1") subsea fiber optics cable system. The agreement also provides for Qwest to obtain capacity through Global Crossing's planned Pacific Crossing subsea cable system ("PC-1"), linking the U.S. and Asia. Atlantic Crossing connects the United Kingdom, Germany, and the Netherlands with a 14,000 km high-capacity four fiber self-healing Synchronous Digital Hierarchy ring network that is the most advanced undersea telecommunications system ever constructed, providing connectivity to major cities on both continents. Qwest's 16,285 mile nationwide fiber optic network will serve over 125 U.S. cities when completed in mid-1999. Carriers will be able to purchase capacity between Europe and all major U.S. cities using these two networks. As a result of the swap, Qwest has received four STM-1s (STM-1 is the European equivalent of an OC3 Sonet circuit - 155 mbps) on the Atlantic Crossing system. The four STM-1s connect U.S. cities and the United Kingdom, Germany and the Netherlands, utilizing Global Crossing's transatlantic subsea cable system capacity. Global Crossing will receive capacity between U.S. cities on the Qwest Macro Capacity Fiber Network. "Qwest continues its expansion into the fast growing European data market. Combined with our acquisition of EUnet spanning thirteen European countries, this capacity swap will bring technologically superior network services to the two fastest growing Internet and data markets - North America and Europe," said Joseph P. Nacchio, president and CEO at Qwest. "This swap agreement will provide customers utilizing our Atlantic Crossing Subsea cable system connectivity to major U.S. cities. It also marks an important expansion of Global Crossing's capabilities to meet our customers growing needs," said Jack Scanlon, Global Crossing's Chief Executive Officer.