WRDP update - Stock held up very well last few days. News on the 25th:
(PR NEWSWIRE) WorldPort Communications Forms Strategic Services Agreement
WorldPort Communications Forms Strategic Services Agreement with DirectNet
ATLANTA, May 25 /PRNewswire/ -- WorldPort Communications, Inc.,
(Nasdaq: WRDP) announced today that it has signed a major network agreement to
provide DirectNet Telecommunications, Inc. with Transatlantic bandwidth
between London and New York. In addition, the contract contains provisions for
WorldPort and DirectNet to provide each other with reciprocal international
termination services. The contract is expected to generate approximately
$3 million over the next three years. Further details on the agreement were
not announced.
Dan Lazarek, WorldPort's Executive Vice President said, "We are very
pleased that DirectNet has selected WorldPort to meet its need for cost
effective, high quality bandwidth between Europe and New York. This strategic
services agreement is an example of how WorldPort's customers are able to
benefit from our full service portfolio solution, which includes collocation
and switch partitioning in addition to the private lines and switched services
that DirectNet has purchased."
Stephen Davis, Vice President of Global Marketing for DirectNet stated,
"We expect that this agreement will enable us to expand our traffic volumes
and extend our network reach to meet growing customer demand. WorldPort
understands the market dynamics for high capacity bandwidth and was able to
create a solution that will make DirectNet even more competitive in the North
America to Europe corridor."
About DirectNet
DirectNet is a leading provider of telecommunications products and
services, supplying advanced voice, data and Internet, phone card services,
international carrier terminations, and other value-added services to more
than 200 countries worldwide. The company's core business units support a
diverse customer base including Fortune 500 companies as well as the majority
of U.S. Tier I and Tier II long distance providers.
Privately held, DirectNet is headquartered in Newport Beach, Calif., and
maintains operations in New Jersey, New York, London, Prague, Moscow, St.
Petersburg, Tokyo, and Taiwan. On-going expansion includes service to other
key markets in the U.S., Europe, Asia and Latin America. For more information,
visit the DirectNet Web site at www.directnet.com , or call 949/474-1001.
About WorldPort Communications
WorldPort Communications, Inc., headquartered in Atlanta, Georgia (USA),
is a network enabler providing international telecommunications and Internet
services for ISPs, long distance carriers, and medium and large corporate
customers in Europe and North America. WorldPort offers domestic and
international voice, data, video, Internet and other telecommunication
services over a network of terrestrial and undersea cables, switches, and
other network equipment and through interconnection agreements with major
carriers in Europe and North America. For more information, please visit the
WorldPort web site at www.wrdp.com .
This press release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. These statements are subject to
risks and uncertainties that could cause actual results to differ materially
from the forward looking statements. Factors which would cause or contribute
to such differences include, but are not limited to factors detailed in the
Company's Securities and Exchange Commission filings.
SOURCE WorldPort Communications, Inc.
-0- 05/25/99
/CONTACT: Shara Johnston, Corporate Relations Manager of WorldPort
Communications, Inc., 770-792-5800/
/Web site: directnet.com /
/Web site: wrdp.com /
(WRDP)
CO: WorldPort Communications, Inc.; DirectNet Telecommunications, Inc.
ST: Georgia, New York, England
IN: TLS MLM CPR
SU: CON
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