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

To: Curtis E. Bemis who wrote (2500)	12/10/1998 9:25:00 PM
From: Curtis E. Bemis	Read Replies (1) \| Respond to of 6846

Quest Net Corp. Files Lawsuit Against PSINet FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 10, 1998--Quest Net Corp., (OTCBB:QNET) has filed a lawsuit against PSINet, (Nasdaq:PSIX) alleging fraud, misrepresentation and breach of contract. Months of good faith negotiations produced only a partial settlement on one of the minor issues involved in the matter. Quest Net Corp. made the determination that in order to protect the rights of its shareholders and the rights of other secondary ISP's the main issue at hand would have to be litigated and judged in a court of law. "It's time that Internet companies like PSINet are held accountable for their exaggerated bandwidth capacity claims, blatant overselling and unfair business practices and I believe they are not the only Internet company doing it," said Quest Net Corp. CEO Camilo Pereira. "It seems that this kind of behavior has been adopted by many first tier Internet providers as Industry Standards', I think it's time one of the little guys took a stand," he went on to say. Quest Net believes that they will recover damages in excess of 1.5 million dollars and damages may reach 39 million dollars if certain contracts are affected. The attorney of record is Robert T. Slatoff of Fromberg, Perlow, Brecker, Slatoff, Beskin, Kornik & Shienvold, a three-decade-old law firm located in Aventura, Florida. Some of the major player in the Internet arena that may be affected by the outcome of this lawsuit are AT&T (NYSE:T - news), Bell Atlantic (NYSE:BEL - news), Concentric (NASDAQ:CNCX - news), MCI WorldCom (NASDAQ:WCOM - news, NetCentric, IC Netcom (NASDAQ:ICGX - news), NetXchange, NKO, US West (NYSE:USW news), UUNe (NASDAQ:WCOM - news), America Online (NYSE:AOL - news) and Netscape (Nasdaq:NSCP - news), Yahoo! Inc. (Nasdaq:YHOO - news), Infoseek Corp. (Nasdaq:SEEK - news) QWest Communications International Inc (Nasdaq:QWST - news) IXC Communications, Inc. (Nasdaq IIXC - news) and many others. Based in Fort Lauderdale, Fla., Quest Net (OTC BB:QNET) operates its own OC-12 (622Mbps) fiber optic self-healing SMARTRing backbone running from Key West to Sebastian, Fla. Quest Net is a provider of secure, full-service global Internet and Intranet broadband digital networking solutions for businesses and individuals. It also has its own Frame Relay 45Mbps connection into the Internet Cloud. Quest Net is one of the largest regional Internet Service Providers with Dialup POPs (point-of-presence) in 228 cities and over 2,000 clients, mostly small businesses. It also offers dedicated high-speed Internet access, metropolitan and wide area network data transport services, including virtual private networks, to several commercial clients and other ISP's, and Wireless Internet Connection at a speed of up to 3 Mbps to a distance of 8 miles on a license free spectrum. Quest Net offers one of the fastest and cleanest routing systems for the transfer and delivery of voice, video and data streams at speeds ranging from 64 Kbps to 155 Mbps (OC-3), as well as frame relay connections at speeds up to 45 Mbps. businesswire.com