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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Mazman who wrote (8366)	9/28/1998 5:10:00 PM
From: DubM	Read Replies (2) \| Respond to of 12468

ARTT news. Advanced Radio Telecom Completes Definitive Financing AgreementsWith Lucent Technologies BELLEVUE, Wash., Sept. 28 /PRNewswire/ -- Advanced Radio Telecom Corp. (Nasdaq: ARTT) (ART) announced today that it has completed two definitive financing agreements with Lucent Technologies (NYSE: LU). The first definitive financing agreement is for a $25 million credit facility completing the commitment disclosed in July. The second agreement creates a $200 million purchase money facility, which follows a letter of intent disclosed in March and July. "With the launch of commercial services in the Seattle metropolitan area and the completion of these financing agreements with Lucent, ART is on track to successfully launch its services in three markets before year end," said Henry C. Hirsch, ART chairman and CEO. "Access to this capital will help us realize our plan to provide fiber-quality advanced data communications services to businesses without fiber connectivity, while we selectively raise long term capital to expand our business into additional markets." When ART raises in excess of $50 million of capital, the $25 million credit facility must be repaid. At that point, the $200 million purchase money facility will be available to ART for borrowing equal to 200 percent of the aggregate capital raised. Availability under the facilities is subject to various conditions. On Sept. 15, ART announced the launch of high-speed advanced communications services to businesses in Seattle and the surrounding areas, and plans to introduce commercial services in Phoenix and Portland before year-end. About Advanced Radio Telecom ART provides advanced communications services to the business community. By integrating fixed-wireless and national spectrum with a fiber optic, ATM and IP network, ART can provide high-speed access to the Internet along with a variety of cost-effective data services. With Lucent Technologies as its network integrator and provider of data networking solutions, ART is building Internet Protocol (IP) metropolitan area networks with ATM backbones that can support a full range of services including, Internet access, Intranets, extranets, IP Telephony, and enhanced Internet applications on local, regional, and national levels. Using advanced, cost-effective technologies in its national 38GHz spectrum footprint, ART offers advanced data services in the Seattle area, and plans to add Portland and Phoenix by years end. ART plans to extend its network to as many as 100 markets in the next five years. For further information, please visit ART's web site at art-net.net. The above information includes forward-looking statements regarding ART's strategy, network deployment, capital and provision of services. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, availability of additional financial resources and capital requirements, customer demand, technological risks, need for definitive agreements, the ability to meet financing conditions, management of growth, competition and government regulation may cause actual results to differ materially from the future results implied or expressed in the forward looking statements. Additional information about the most significant of such factors is set forth in ART's most recent annual report on Form 10-K. The Company does not undertake to update or revise its forward-looking statements publicly even if experience or future changes make clear that any projected results expressed or implied herein will not be realized. SOURCE Advanced Radio Telecom Corporation CO: Advanced Radio Telecom Corporation; Lucent Technologies