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

To: Frank A. Coluccio who wrote (1991)	5/24/1999 9:48:00 AM
From: Kevin G. O'Neill	Respond to of 3873

Exec. migration item... Qwest -> Level (3) -> Pacific Gateway?? PACIFIC GATEWAY EXCHANGE NAMES JOSEPH J. DEPETRO AS EXECUTIVE VICE PRESIDENT Of Global Business Development BURLINGAME, Calif., May 24 /PRNewswire/ -- Pacific Gateway Exchange, Inc. (Nasdaq: PGEX) today named Joe DePetro as Executive Vice President of Business Development. Mr. DePetro has worked in the Telecom industry for over 15 years. He spent the last year at Level 3 Communications where he served as Vice President of Wholesale Services and before that spent nine years at Qwest Communications as Vice President and General Manager of Sales and Marketing. The Company expects Mr. DePetro to be a major contributor in its global network asset build out, sales of global bandwidth, and development of a sales team for the PGExpress Internet services. "We are thrilled to have Joe join our team. In addition to the already strong team of Telecom experienced executives in the Company, Joe's experience will help speed our global network build out, bandwidth sales strategy and development of the PGExpress Internet initiative," said Mr. Howard A. Neckowitz, President and CEO of Pacific Gateway. "With sales of bandwidth already underway, we expect to be able to announce further sales over the next 60 to 90 days further fortifying our financial position in 2000 and beyond." "The excitement that Pacific Gateway has achieved with its STM capacity and its diversification into the Internet market through PGExpress was a major factor in my decision to move to Pacific Gateway," said Mr. DePetro. "The experience I have had in the global bandwidth market and development of sales teams and the Company's success in developing both a global network and offshore points of presence sets the stage for further network expansion, sales of bandwidth and expansion into the fast growing data and Internet markets. During 1998 the Company announced its commitment to purchase $156 million of fiber capacity in the Japan-US and TAT-14 undersea cable networks. This year, the Company has acquired an OC12 and OC3 US domestic backbone network from Williams communications. The Company plans to continue to build its global network through purchasing additional undersea fiber optic capacity and terrestrial capacity in the US, Europe and Japan. Through its wholly-owned subsidiary, PGExpress, the Company will become a global provider of Internet and data services. Over the next 3 to 5 years the Company's aim is to connect the major cities of the world with a high-capacity, fiber optic network. PGExpress will provide its customers with global connectivity to become a major player in the exponentially growing retail and wholesale data markets. PGExpress will develop a group of sales executives based around the globe specializing in co-location and access with further development into the retail Internet services over the next 6 to 12 months. Mr. DePetro has developed and led the sales efforts in domestic and international, retail and wholesale bandwidth sales for both Level 3 and Qwest. While serving as Level 3's Vice President Wholesale Services Mr. DePetro was a major contributor to the cable sales, swaps and builds. As one of the first ten employees of Qwest, Mr. DePetro played a key role in the development of the network and the sales of bandwidth. About Pacific Gateway: (Nasdaq: PGEX) Pacific Gateway will provide Internet and high bandwidth services to the global market. It is expanding its network and global points of presence to provide connectivity and co-location to the exploding Internet services market. In addition, the Company is a diversified facilities-based international telecommunications carrier serving a wide array of domestic and international telecommunications service providers and retail customers. The Company and its offshore subsidiaries are a party to 44 operating agreements providing landing rights in 28 countries and have ownership interests in 19 digital undersea fiber optic cable systems providing for the exchange of telecommunications traffic with foreign carriers. The Company recently announced its commitment to invest over $150 million in the Japan-US and TAT-14 Cable Networks, positioning the Company as a low cost provider of services for the future. In addition, Pacific Gateway has a US network spanning twelve of the major metropolitan cities in the US. Pacific Gateway presently operates switching and international gateway facilities in New York, Los Angeles, Dallas, the United Kingdom, Russia, New Zealand, Japan, Australia and Germany and is developing additional offshore markets. Pacific Gateway information is available at www.pgexch.com. Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995: this press release contains statements that are not historical facts and may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, such as statements regarding: the expected development of high bandwidth and Internet operations; the expected service date of the Company's proposed Internet offerings; the construction of new cable facilities; future bandwidth acquisitions and sale; the Company's timetable for the deployment of its global network; and expansion into new markets. Actual results might differ materially from those projected by those statements due to numerous factors, including: increased competition; price declines; economic, legal, business and political developments in the US and abroad; unforeseeable developments relating to the Company's rapid growth; the Company's ability to hire qualified sales, technical and support people; regulatory developments in the U.S. and in foreign countries; delays in the construction of cable facilities; the Company's success in developing new business programs; and start-up costs and other uncertainties related to the commencement of new Internet and bandwidth operations. SOURCE Pacific Gateway Exchange, Inc. 05/24/99 /CONTACT: Kimberly Croxson, Investor Relations of Pacific Gateway Exchange, Inc., 650-375-6700/ Web site: pgexch.com (PGEX) CO: Pacific Gateway Exchange, Inc. ST: California IN: CPR MLM SU: PER From: newsout@canada-stockwatch.com Date: Mon, 24 May 1999 05:56:06 -0700 Subject: Stockwatch US: LVLT