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Technology Stocks : Able Telecom (ABTE) -- Ignore unavailable to you. Want to Upgrade?

To: 230SL who wrote (422)	1/11/1999 11:22:00 AM
From: david james	Respond to of 700

Monday January 11, 10:18 am Eastern Time Company Press Release SOURCE: Able Telcom Holding Corp. Able Telcom Holding Corp. Announces Leasing Agreement On The New York State Thruway Authority's Project Valued In Excess Of $43 Million WEST PALM BEACH, Fla., Jan. 11 /PRNewswire/ -- Able Telcom Holding Corp. (Nasdaq: ABTE - news) announced that its subsidiary, MFS Network Technologies has reached an agreement with a major telecommunications user on the New York State Thruway project to lease the remaining duct capacity on a multi-duct 725 mile fiber optic communications system which extends from Cleveland, Ohio to New York City. This communication system, designed, constructed and operated by MFSNT, and leased by MFSNT on an exclusive basis pursuant to a 20-year lease, parallels approximately 525 miles of the New York State Thruway Authority's (NYSTA) right-of-way. The User Fees and Fiber Optic Cable Installation Fees to be generated from this agreement believed to be in excess of $43 million, and is partially subject to the revenue sharing provisions between MFSNT and NYSTA, which are currently being negotiated. ''We are pleased our business strategies of constructing multiple-use facilities for telecommunications companies in highly congested/restricted corridors continues to create win-win solutions for the right-of-way owners, the telecommunications carriers and ourselves,'' said MFS Network Technologies President Stacy Jenkins. ''Contrary to recent negative opinions expressed about ABLE/MFSNT's current status, we are currently in negotiations and expect to finalize a number of agreements of this type in other corridors throughout the United States during the first calendar quarter of 1999.'' MFS Network Technologies is a leader in the development, design and integration of intelligent infrastructure solutions for advanced communications applications. Founded in 1988, MFS Network Technologies provides systems integration and innovative development for facilities-based communications projects. The company's clients include federal, state and local government agencies, public utilities and private industry in the United States and abroad. Able Telcom Holding Corp. provides design, installation, maintenance and system integration services for advanced voice, data and video communications networks throughout the United States and internationally, primarily in Latin America. Statements about the Company's future expectations, including without limitation, future revenues and earnings, plans and objectives for future operations, future agreements, future economic performance, operations and all other statements in this press release other than historical facts are ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties, including but not limited to economic, competitive, governmental, meteorological, contractual, and technological factors affecting the Company's operations, markets and profitability, the Company's actual results could differ materially from expected results. SOURCE: Able Telcom Holding Corp.