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

To: Frank A. Coluccio who wrote (68)	8/25/1998 8:40:00 PM
From: Frank A. Coluccio	Read Replies (1) \| Respond to of 1983

Metromedia Fiber Network Signs $29 Million Network Lease Agreement with e.spire Communications, Inc. Business/Telecommunications Editors NEW YORK--(BUSINESS WIRE)--Aug. 25, 1998--Metromedia Fiber Network, Inc.(NASDAQ:MFNX) today announced the signing of a pre-paid $29 million agreement with e.spire Communications, Inc. (NASDAQ:ESPI), an integrated provider of telecommunications services. Under the terms of the agreement, Metromedia Fiber Network will lease e.spire high-speed, virtually unlimited bandwidth dark fiber infrastructure over its intra-city networks in New York and Philadelphia. In addition, e.spire will lease fiber strands on Metromedia Fiber Network's inter-city corridor, from New York to Baltimore. This agreement represents the first major contract between the two companies, providing e.spire with multiple fibers and rapid access to a technologically advanced optical network. This transaction accelerates e.spire's data network expansion, increasing the company's addressable market by 3.5 million access lines, while positioning the company as a strong telecommunications player on the eastern seaboard. "Metromedia Fiber Network's fixed cost, unlimited bandwidth solution is eliminating the bandwidth barrier and future growth concerns for the new breed of telecommunications providers," said Howard Finkelstein, president of Metromedia Fiber Network. "This alliance with e.spire truly underscores the value that the new carriers are placing upon a dark fiber infrastructure solution." "e.spire is very excited to enter this agreement with Metromedia Fiber Network which enables us to extend our rich set of facilities-based data and voice communications services into the northeast, delivering reliable service to our customers and establishing a foundation for higher margin platforms for our shareholders," said Jack E. Reich, president and CEO of e.spire Communications, Inc. e.spire is a leading provider of integrated communications solutions, Internet and networking solutions, in markets throughout the United States. e.spire has been recognized as 1997's fastest-growing network company in the United States by Network World magazine. For more information on e.spire, contact www.espire.net on the Internet. Metromedia Fiber Network, headquartered in the New York area, is a facilities-based provider of technologically advanced, high-bandwidth fiber optic communications networks to carrier and corporate / government customers within major U.S. markets. Metromedia Fiber Network's dark fiber services offer telecommunications carriers virtually unlimited bandwidth at a fixed cost, enabling them to reach beyond the technological limitations of existing networks and rapidly deploy state-of-the-art optical networks in critical Tier One metropolitan markets. Commercial users are provided high-capacity, cost-effective bandwidth solutions for network expansion and "last mile" connectivity. For more information about Metromedia Fiber Network, please visit the company's Web site at www.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-Q. --30--sdg/ny*