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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: jacksoo who wrote (6852)	3/17/1999 10:38:00 AM
From: William F. Wager, Jr.	Respond to of 41369

AOL CEO Case Discusses Company's Major Growth Drivers This story was originally published Tuesday. NEW YORK (Dow Jones)--America Online Inc.'s (AOL) three major growth drivers are electronic commerce, convergence and globalization, Chairman and Chief Executive Steve Case said at a Merrill Lynch conference Tuesday. In short order, AOL plans to detail its e-commerce and how its pending acquisition of Netscape Communications Corp. (NSCP) and a partnership with Sun Microsystems Inc. (SUNW) will further those goals, Case said at Merrill's Eighth Annual Telecommunications CEO Conference. Commerce conducted over the Internet is expected to reach $3.2 trillion by 2003, representing 5% of all global sales, Case said citing a market survey by Forrester Research Inc. That same survey predicts online purchases in the U.S. will reach $18 billion this year, Case said. During last year's holiday season, about $1.2 billion in sales were conducted on AOL. The Internet service provider is attracting $800 million in annual advertising and has marketing agreements with advertisers that top $1 billion, Case said. AOL wants to provide its service as broadly as possible, Case said. Toward that end, AOL plans to spend more than $10 billion over the next five years to provide its members with Internet access. Recently the company signed agreements with Bell Atlantic Corp. (BEL) and SBC Communications Inc. (SBC) to offer AOL subscribers forthcoming broadband digital subscriber line, or DSL, service. The DSL service is expected to be available to nearly 14 million homes in 21 states by the end of the year. On the international front, AOL plans to expand the reach of its brand with joint ventures in Hong Kong and Latin America, Case said. AOL has more than 2 million non-U.S. members, which it has built up in the last three years when it started its international business unit. - Maria V. Georgianis; 201-938-5244