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

To: Slide Rule who wrote (2744)	1/21/1999 9:27:00 AM
From: Nick	Respond to of 6846

Qwest Awarded Additional $60 Million Contract From Verio Inc. Verio to Provide Faster, Higher Capacity Internet Access to Rapidly Expanding Customer Base DENVER--(BUSINESS WIRE)--Jan. 21, 1999-- Qwest Communications International Inc. today announced it has received an additional $60 million commitment for high-speed, broadband capacity from Verio Inc., a leading provider of comprehensive business Internet services. The agreement builds upon the companies' original 15-year, $100 million contract and extends the term of Verio's minimum commitment from 7 to 10 years. The extended contract and higher volume of service commitment provides Verio with an improved price. In addition, the contract provides Verio with the flexibility to deploy circuits from DS-3 (64 kilobits per second) to multiple OC-48 (2.4 gigabits per second) as customer needs expand. Verio's rising customer base - increased dramatically by the 105,000 subscribers the company added with the recent close of its Hiway Technologies Inc. acquisition - now exceeds 260,000. This rapid growth, and the increasing applications driving the needs of business customers for high-speed transmission, played key roles in Verio's decision to increase its commitment. ''We are pleased to expand our business relationship with Verio,'' said Gregory M. Casey, senior vice president of wholesale markets for Qwest. ''Verio is one of the fastest growing providers of enhanced Internet services, and because of the advanced nature of our network, Qwest can provide them with the convenience and flexibility of bandwidth on demand.'' As Verio's business and customer base grow, the company is converting a significant portion of its network to Qwest's high- speed fiber optic network. Verio now has exceeded its year-end target to activate 10,000 miles on the Qwest fiber network, and has in excess of 12,000 miles of capacity in service. Currently, approximately 50 percent of Verio's traffic is carried on the Qwest network, marking significant progress in the integration of Verio's nationwide network operations. Verio expects to continue expanding its network capacity as Qwest nears completion of its nationwide network. ''The performance and cost competitiveness of the Qwest fiber is compelling, especially at OC-3 (155 megabits per second) and higher speeds,'' said Chris DeMarche, chief technical officer for Verio. ''Qwest has been a valuable partner to us in providing capacity to keep up with the rapid growth of our IP network, which is ranked in the top 10 in the country in speed and size.'' About Verio Inc. Verio Inc. (NASDAQ:VRIO - news) is a leading provider of comprehensive business Internet services - including broadband connectivity, virtual private networks, Web-hosting solutions and e-commerce - with an emphasis on serving the small and mid-sized business market. Since its inception in March 1996, Verio has rapidly established a global presence through the acquisition, integration and growth of independent Internet providers with a business customer focus. Verio supports its operations with highly reliable and scalable national infrastructure and systems including a facilities-based Tier One national network. Verio delivers locally-based sales and engineering support in 41 of the top 50 U.S. markets under the Verio brand name and provides Web- hosting services to customers in more than 170 countries. For more information on Verio, visit the company's Web site at www.verio.com About Qwest