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Technology Stocks : RCN Corp. (RCNC) - Voice-Video-Internet -- Ignore unavailable to you. Want to Upgrade?

To: jas cooper who wrote (152)	12/15/1998 10:04:00 AM
From: jas cooper	Respond to of 720

RCN to Explore Leveraging Excess Capacity of its Broadband Fiber Network in the Commercial Arena Company's Advanced Fiber Network Capable of Providing Service to Approximately a Quarter of a Billion Square Feet of Commercial Office Space December 15, 1998 07:38 AM PRINCETON, N.J., Dec. 15 /PRNewswire/ -- Given its enormous success in the residential market, RCN Corporation RCNC today announced that it was exploring commercial opportunities in an effort to leverage excess capacity in its state-of-the-art fiber optic network. Richard C. Murphy, formerly of AT&T and Teleport Communications, has joined the company to evaluate potential commercial and or wholesaling alternatives. "RCN is increasingly being approached for access to our network, and it has come time to evaluate whether or not this business needs to be pursued. Our broadband fiber optic network, although focused on the residential market, is also capable of today serving more than a quarter of a billion square feet of commercial office space," said Chairman and CEO David C. McCourt. "While providing customers phone, cable and Internet services in their homes will remain our primary focus, it is now appropriate for RCN to explore the tremendous revenue potential of selling commercial service in areas already passed by our network. With more than 30 years of commercial experience, Dick Murphy is well qualified to explore this viable and lucrative market for RCN." RCN has already deployed a network of more than 1,000 route miles in local markets from Boston to Washington, D.C. Its fiber network runs within 1,000 feet of more than a quarter billion square feet of commercial office space. In addition, RCN has more than 100,000 fiber miles, providing an enormous amount of capacity for both residential and commercial applications. "Although RCN's main priority is addressing the residential market, the commercial opportunities associated with its state-of-the-art network are truly limitless," Murphy said. "I am excited to bring my background and experience to a company that is changing the way people communicate - at home and in the office." "We see RCN's network as a machine for revenue and growth, and that machine should be afforded the opportunity to run on all of its cylinders," McCourt said. "Our ability to generate revenue from commercial customers over a network designed to sustain itself by serving residential customers presents a rare and extraordinarily valuable opportunity." RCN Corporation RCNC is the nation's first and largest single- source, facilities based provider of telecommunications services to the residential market, the Northeast's largest regional Internet service provider (ISP) and the nation's seventh largest ISP. The company is currently providing local and long distance phone, cable television and Internet services in several markets from Boston to Washington, D.C. RCN has expanded its target market to include California's San Francisco to San Diego corridor. Additional information about RCN's services may be found on the company's web site at rcn.com. SOURCE RCN Corporation