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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (1846)	4/14/1999 9:29:00 AM
From: Kevin G. O'Neill	Read Replies (1) \| Respond to of 3873

Metromedia Fiber Network to Provide Level 3 Communications with High-Capacity Local Loop Connections in the New York and Washington, D.C. Metropolitan Areas Wednesday April 14, 8:05 am Eastern Time biz.yahoo.com Company Press Release Metromedia Fiber Network to Provide Level 3 Communications with High-Capacity Local Loop Connections in the New York and Washington, D.C. Metropolitan Areas NEW YORK--(BUSINESS WIRE)--April 14, 1999--Metromedia Fiber Network, Inc. (Nasdaq:MFNX - news) today announced the signing of a contract to provide Level 3 Communications, Inc. (Nasdaq:LVLT - news) with local loop infrastructure in the New York and Washington, D.C. metropolitan areas. As Metromedia Fiber Network's newest dark fiber carrier customer, Level 3 will lease high-speed, high-bandwidth optical infrastructure enabling it to access these markets quickly and cost-effectively. The agreement is valued at approximately $10 million and specific terms were not disclosed. ''Metromedia Fiber Network continues to play a critical role in bringing the benefits of high-speed, high-capacity optical networks to the local loop,'' said Howard Finkelstein, president of Metromedia Fiber Network. ''Because the traditional ILEC networks are so bandwidth prohibitive, Level 3 and other major carriers continue to seek more cost effective methods when accessing major metropolitan areas. Utilizing our dark fiber infrastructure allows carriers to accomplish this and access Tier One markets faster.'' Metromedia Fiber Network is constructing high-bandwidth fiber optic networks in major Tier One markets, providing an alternative method of access in the local loop for communications carriers of all kinds. Metromedia Fiber Network's dark fiber infrastructure is capable of supporting various advanced communications technologies that enable customers to deploy the most advanced data, video, multimedia and Internet applications. In addition, the dark fiber network can support various switching technologies including Asynchronous Transfer Mode (ATM), Voice over IP, Synchronous Optical Network (SONET), gigabit Ethernet and Internet Protocol (IP). Level 3 is building the first international network optimized for Internet Protocol technology. The Level 3 multi-conduit network will combine both local and long distance networks, connecting customers end-to-end across the U.S. and in Europe and Asia. By leasing fiber infrastructure from Metromedia Fiber Network, Level 3 can enter key local markets more rapidly, extending the reach of its existing and future facilities-based optical network throughout the New York/New Jersey and Washington D.C. regions. About Metromedia Fiber Network Metromedia Fiber Network is building fiber optic infrastructure in the local loop in strategic Tier One markets, enabling technologically sophisticated organizations to implement the latest data, video, internet and multimedia applications. By offering virtually unlimited, unmetered bandwidth at a fixed cost, Metromedia Fiber Network is eliminating the bandwidth barrier and redefining the way broadband capacity is sold. Utilizing Metromedia Fiber Network's infrastructure, customers are able to rapidly deploy state-of-the-art optical networks. Communications carriers and Internet Service Providers gain local loop connectivity to the most highly populated metropolitan areas. Corporate and government customers benefit from private building-to-building networks featuring the fastest transmission speeds available and the highest levels of reliability and security. In addition to its current nationwide expansion in 11 major US cities, Metromedia Fiber Network is entering the international market with fiber optic network builds in Germany, and the provision of transatlantic bandwidth capacity through International Optical Network (ION), a joint venture with Racal Telecom of the United Kingdom. For more information about Metromedia Fiber Network, please visit the company's Web site at www.mmfn.com. This news release contains certain forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control. This also includes such factors as described from time to time in the SEC reports filed by Metromedia Fiber Network, including the most recently filed Form 10-K. Contact: Gibbs & Soell, Inc., New York Gary J. Gatyas, Jr. 212/697-2600 ggatyas@gibbs-soell.com or Metromedia Fiber Network, New York Ellen Strahs Fader 212/606-4389