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To: Probart who wrote (67814)	4/12/1999 1:05:00 PM
From: Teri Garner	Read Replies (1) \| Respond to of 119973

PSIX & COVD in DSL pact, COVD up 30, PSIX will follow... Monday April 12, 11:13 am Eastern Time PSI in high-speed, local phone bypass service pact HERNDON, Va., April 12 (Reuters) - Internet access wholesaler PSINet Inc. (Nasdaq:PSIX - news) on Monday said it agreed to a deal with Covad Communications (Nasdaq:COVD - news) to offer PSI customers high-speed Internet access and alternative phone services. On top of a standard high speed Digital Subscriber Line (DSL) data access service, PSI said it will offer a version of DSL to allow customers to bypass existing local phone companies to receive a range of telecommunication services. PSINet it will introduce the enhanced high-speed phone services in San Francisco this quarter, followed by introductions of the service in Los Angeles and other major metropolitan areas this summer. San Jose, Calif.-based Covad is a wholesale provider of high-speed data services building a new generation network running at DSL speeds capable of transmitting data at speeds from roughly 144,000 bits up to 1.5 million bits per second. Such services allow customers to receive data-intensive audio and video, not to mention text, up to 30 times faster than conventional Internet access technology. DSL technology helps eliminate the bottlenecks that occur when great amounts of information traffic are jammed into existing phone lines connected to homes and offices, in effect multiplying the capacity of standard copper phone lines. In addition, PSINet said it is working with Covad to explore what it described as ''other developments in DSL'' that will take advantage of the resources of both companies. PSINet shares jumped $3.38, or 6.5 percent, to $55.50, while Covad shares rose $2.50, or 3 percent, to $84, both on Nasdaq.