To: Rande Is who wrote (4777 ) 3/31/1999 7:20:00 AM From: Rande Is Respond to of 57584
Advanced Radio Telecom Responds to Financing Inquiries BELLEVUE, Wash., March 31 /PRNewswire/ -- Advanced Radio Telecom Corp. (Nasdaq: ARTT) said today, in response to recent inquiries, it is in negotiations with several parties for a significant equity investment in the Company. The Company expects to complete definitive agreements in the near future. The anticipated proceeds from such an investment would allow the Company to expand into new markets in California and other West Coast cities. About ART Advanced Radio Telecom is a facilities-based, broadband ISP providing a direct connection between the customer premises and the Internet. ART owns and operates metropolitan area networks in Seattle, Portland and Phoenix using fixed wireless and fiber optic technologies. ART owns 38GHz spectrum licenses in more than 210 markets nationwide, including 49 of the top 50 and 90 of the top 100 markets. ART also owns 26GHz and/or 38GHz spectrum licenses in several European countries. With Lucent Technologies as its network systems integrator and provider of wireless and data networking solutions, ART offers a full range of Internet services including dedicated Internet access at speeds up to 10Mbps, e-mail, web hosting, domain name server (DNS) registration, IP Fax and more. For more information, please visit ART's website at art-net.net . The above information includes forward-looking statements regarding potential future financing, business prospects and network deployment. These statements are not guarantees of future performance. Known and unknown risks, uncertainties, and other factors, including without limitation, the uncertainty of completing definitive agreements and consummation of a financing transaction, availability of additional financial resources and capital requirements, customer demand, technological risks, the ability to meet financing conditions, management of growth, competition and government regulation may cause actual results to differ materially from the future results implied or expressed in the forward looking statements. Additional information about the most significant of such factors is set forth in ART's most recent annual report on Form 10-K. The Company does not undertake to update or revise its forward-looking statements publicly even if experience or future changes make clear that any projected results expressed or implied herein will not be realized.