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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (10304)	2/16/1999 8:56:00 AM
From: Steven Bowen	Read Replies (1) \| Respond to of 12468

News February 16, 1999 06:19 WinStar Completes Acquisition of Nationwide Spectrum Rights in Argentina NEW YORK--(BUSINESS WIRE)--Feb. 16, 1999-- Broadband Wireless Leader Continues Expansion Into Top 50 International Markets Service Planned for Buenos Aires in 1999, One of The Fastest-Growing Data Markets in Latin America WinStar Communications, Inc. (NASDAQ: WCII) announced today it has completed the purchase of 95% of Macrocom SA, a company holding a nationwide license for 400 MHz of spectrum in the 38 GHz band in Argentina. The acquisition marks the next step in WinStar's plan to expand its broadband network into the top 50 international markets within the next five years by strategically accumulating spectrum assets in a cost-effective manner. The licenses obtained through this purchase cover all of Argentina, including Buenos Aires, which is one of Latin America's premier business markets and the eighth largest international market outside the United States. WinStar plans to launch service in Buenos Aires by September 1, 1999. By acquiring spectrum rights in Argentina, WinStar gains access to more than 88 million channel pops in that country's large cities and 48 million in Buenos Aires alone. Argentina's rapidly growing data services market, which is estimated to exceed $500 million annually, provides WinStar with an opportunity to build a broadband network capable of delivering high-speed data and information services to large multinational business customers and medium-sized companies. In addition, the opening of the country's local and long distance markets in November 2000 will provide further opportunities for WinStar. WinStar's Argentine network will feature the company's state-of-the-art point-to-multipoint technology. The company will also draw upon the expertise and resources of Lucent Technologies as part of the strategic alliance formed by the two companies last October. William J. Rouhana, Jr., WinStar's Chairman and Chief Executive Officer, said, "We are pleased and excited to be bringing wireless broadband connectivity to Buenos Aires, one of the most important business markets in Latin America, as well as to other major cities in Argentina. Acquiring these spectrum rights is a key part of our plan to serve our multinational customers and to extend our industry leadership by expanding the availability of WinStar's broadband network to the international marketplace." WinStar has already obtained spectrum licenses in the Netherlands, and has filed for spectrum rights in major business markets throughout Western Europe. Last month, WinStar, KDD and Sumitomo formed a joint venture company, of which WinStar owns 35%, to obtain spectrum rights and build a wireless broadband communications network beginning in Tokyo later this year. WinStar Communications, Inc. is a pioneer in providing business customers with broadband communications services, including local and long distance phone service, as well as high-speed data, Internet access and information services. WinStar provides these Wireless FiberSM services over its own end-to-end broadband network in over 30 U.S. markets, using its licenses in the 28 and 38 GHz spectrum. Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are described in WinStar's SEC reports, including the 10-K for the period ended December 31, 1997 and the 10-Q for the period ended September 30, 1998. WinStar is a registered trademark, and Wireless Fiber is a service mark of WinStar Communications, Inc.