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To: stockvalinvestor who wrote (325)	3/10/1999 9:29:00 AM
From: MangoBoy	Respond to of 15615

[Construction of 40 Gbps Undersea Cable to Cuba Announced by Quest Net Corp.] MIAMI--(BUSINESS WIRE)--March 10, 1999--Quest Net Corp. (OTC BB:QNET), announced today that it has filed with the Federal Communication Commission for the authority to begin the construction of a 40 Gbps undersea fiber optic cable with capacity of over 530,000 simultaneous connections. The system consists of approximately 180 km of undersea cable and two landing points. "Projecto Unidad," as it is known, will open broadband applications with security for educational, scientific and commercial users and greatly enhance the availability and use by the Cuban residents. In addition, the Internet will be more readily available to residential users facilitating communication between the average citizen and the world with a primary link with the United States. With the change in the political atmosphere and the emergence of a more open relationship between Cuba and major world powers, the demand for bandwidth and voice capacity is expected to grow sharply as the Cuban economy continues to develop and diversify. It is estimated that the overall cost project will be approximately $13,000,000,00 and will be completed within a year from the date of the approval by the proper governmental agencies, of which no assurance can be given. Currently fiber optic connectivity does not exist with Cuba the outside world. AT&T has one copper cable that was installed in the late 40's, and has been in use since the United States and Cuba opened a direct phone link in 1993. The "Projecto Unidad" system is being designed primarily for data and will only carry Internet and data traffic. Quest Net Corp. therefore will not be involved in settlement of telephone tariffs, which is a point of contention between the USA and CUBA. After preliminary contact with OFAC (Office of Foreign Asset Control), FCC (Federal Communications Commission), State and Commerce Departments, the management of the Company is confident that there is no violation of the Cuban Democratic Act in its proposal as Internet traffic is already widely available between the United States and Cuba. The company will not begin construction until such time as permission has been secured and the proper licenses have been obtained from both governments. Although no assurances can be given, the company believes that it will be able to comply with all requirements in order to complete this project. A feasibility study has been completed by SETWAVE Communications, a New Jersey based firm that specializes in management and design of Fiber Optics undersea cables. SETWAVE has also been awarded the management contract for the construction and installation of the cable. The Company is presently negotiating with Tyco Submarine Systems (TSS) to build and install the cable. No agreement has been entered to date. TSS is the largest supplier of submarine cable systems in the world, having installed more than 155,000 miles of undersea cable. Tyco holds a ISO 9000 certification for design and manufacturing quality. Based in Aventura and 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. It is a provider of secure, full-service global Internet and Intranet broadband digital networking solutions for businesses and individuals. Quest Net is one of the largest regional Internet Service Providers with Dial-up POP's (point-of-presence) in 228 cities and over 2000 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 three Mbps to a distance of eight miles on a license free spectrum. Quest Net offers one of the fastest and cleanest routing system 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. ipquest.com