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Technology Stocks : AboveNet Communications, Inc. (ABOV) -- Ignore unavailable to you. Want to Upgrade?

To: Brasco One who wrote (678)	5/27/1999 8:29:00 AM
From: Probart	Read Replies (1) \| Respond to of 835

SAN JOSE, Calif., May 27 /PRNewswire/ -- AboveNet Communications, (Nasdaq: ABOV), the leading architect of a global one-hop network that brings together high-bandwidth content sites, ISPs, and Application Service Providers (ASPs) in centralized co-location facilities, announced today that it has joined the Application Service Provider Industry Consortium as an Executive Member. The ASP Industry Consortium is an international advocacy group of companies formed to promote the application service provider industry by sponsoring research, fostering standards, and articulating the measurable benefits of this evolving delivery model. "Because AboveNet's high performance network delivers the scalable and reliable Internet connectivity that is vital to the successful implementation of hosted applications, we are pleased to add our support to the ASP Consortium," said Warren Kaplan, AboveNet President and Chief Operating Officer. "The goals of the ASP Consortium are consistent with AboveNet's open partnering model, and AboveNet is fully committed to helping ASPs reach their full business potential through joint marketing and selling programs." In April, AboveNet announced that it has been selected by Cisco Systems, Inc. to participate in Cisco's Hosted Application Initiative aimed at delivering hosted and outsourced application services to small and medium-size businesses. Additional information on the ASP Industry Consortium is available on the World Wide Web at www.aspindustry.org .

To: Brasco One who wrote (678)	5/27/1999 4:27:00 PM
From: Tinroad	Read Replies (1) \| Respond to of 835

From today's Internet Stock News: Volpe Whelan Brown rates the shares of ABOVENET COMMUNICATIONS (ABOV) a STRONG BUY with a price target of $71. The company, which has a market capitalization of $1.1 billion, on May 24 announced the acquisition of PALO ALTO INTERNET EXCHANGE from COMPAQ COMPUTER (CPQ) for $70 million in cash and $5 million in services. PAIX is one of only a dozen major Internet exchanges in the United States, and as a result of its acquisition, the brokerage expects that a significant share of U.S. Internet traffic will now flow through ABOVENET. Because of the acquisition, the brokerage raised its revenue estimates to $57.7 million from $47.1 million for 2000 and $144.5 million from $118.5 million for 2001. For 1999, the company is forecast to post a loss of $4.91 per share. However, that is expected to decline to a loss of $2.10 per share for 2000.