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Technology Stocks : Qwest Communications (Q) (formerly QWST) -- Ignore unavailable to you. Want to Upgrade?

To: MangoBoy who wrote (2281)	10/7/1998 8:10:00 AM
From: Nick	Read Replies (2) \| Respond to of 6846

Qwest Signs Contract with Globix worth $35 Million to Provide Capacity for Internet and Data Traffic DENVER--(BUSINESS WIRE)--Oct. 7, 1998--Qwest Communications (NASDAQ:QWST - news) today announced it will provide Globix Corporation (NASDAQ: GBIX - news), one of the world's fastest growing Internet Service Providers, with broadband capacity on the nationwide Qwest Macro Capacity(SM) Fiber Network. The multi-year agreement, with expected expansions and upgrades, is worth approximately $35 million. Initially, Globix will receive a long-term right to use OC-3 (155 mbps) capacity to route its Internet and data traffic much faster, while expanding its services to reach more customers in the U.S. In addition, Globix will obtain transatlantic capacity connecting New York to London. ''As New York City's largest ISP and one of the fastest growing ISPs in the country, Globix handles a tremendous amount of bandwidth-intensive data traffic, such as streaming audio and video and e-commerce solutions. The Qwest Macro Capacity Fiber Network is ideal for traffic, such as Globix's, because of the virtually unlimited bandwidth and superior service level agreements that ensure the delivery of mission-critical applications,'' said Gregory M. Casey, Qwest's senior vice president of broadband capacity. Marc H. Bell, Globix President and CEO said, ''As Globix becomes truly global and seeks to provide the level of service our customers demand, and have come to expect, we felt Qwest was the logical and best choice to provide our network backbone. We look forward to working with Qwest for years to come.'' The Qwest Macro Capacity Fiber Network Qwest's planned domestic 18,449-mile network will serve over 130 cities, which represent approximately 80 percent of the data and voice traffic originating in the United States, upon its scheduled completion in the second quarter of 1999. To date, approximately 8,850 miles of the Qwest Macro Capacity Fiber Network are activated, and construction has commenced on 17,773 miles. Qwest's transcontinental segment extends from Los Angeles to Sacramento and across to New York. Additionally, Qwest owns transatlantic submarine capacity linking the United States to Europe and will jointly own a transpacific submarine cable system connecting the U.S. to the Pacific Rim. Qwest is also extending its network 1,400 miles into Mexico with completion slated for late 1998. The Qwest Macro Capacity Fiber network is designed with highly reliable and secure bi-directional, line switching OC-192 SONET ring architecture. Upon completion, the network will offer a self-healing system that provides the ultimate security and reliability by allowing instantaneous rerouting in the event of a fiber cut.