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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (2785)	5/27/1999 12:18:00 PM
From: Paul Lee	Respond to of 14638

MPSAT Selects Nortel Networks to Build First Phase of Latin America's Largest IP Optimized Data Network Valued at US$ 244 Million Network Will Feature Nortel Networks Optical Internet Solutions BUENOS AIRES, Argentina, May 27 /PRNewswire/ - Driven by an explosive growth in demand for Internet and high-speed data services in Latin America, IMPSAT announced today it has signed a letter of intent with Nortel Networks (NYSE/TSE: NT) for the construction of the first phase of Latin America's largest pan-regional high-performance optical data network - IMPSAT 2000. The project is expected to generate revenues of approximately US$244 million for Nortel Networks over the next two years, and is subject to vendor financing. This Unified Network will offer a variety of services to its customers, including high-speed IP Optimized Internet and Intranet services. Nortel Networks Optical Internet Solutions will allow IMPSAT 2000 to provide superior services in Latin America with a robust, high-performance, reliable and high-speed optical backbone network. Consumers, businesses, governments, telecommunications carriers, Internet Service Providers and others are all experiencing the need to transmit and receive unprecedented amounts of data traffic in today's era of e-commerce and e-service applications, multimedia transmission and other types of Internet usage. Designed to offer multi-service, open, scalable and flexible solutions, the network utilizes products from Nortel Networks optical portfolio, including Dense Wavelength Division Multiplexing (DWDM) technology. Also deployed will be an ATM backbone, broadband wireless access equipment and local and long distance switching systems. Nortel Networks Professional Services will provide an end-to-end suite of services including the planning, design, business, and operations consulting for the IMPSAT 2000 network. Nortel Networks will also manage the related engineering, systems integration and civil works activities, to ensure the timely deployment of the network. IMPSAT has an ambitious vision of providing high-speed IP Optimized services to customers in Latin America at very competitive costs. Impsat 2000 is the first step towards a state-of-the-art Internet for Latin America. We are proud to help IMPSAT be at the forefront of the Internet Revolution and all related benefits it will bring to economies in the region,'' said Dan Hunt, president, Nortel Networks, Caribbean and Latin America. IMPSAT is a leading provider of data transmission and private telecommunications networks services in Latin America. The company provides private network integrated data and voice telecommunications services for national and multinational companies, financial institutions, governmental agencies and other business customers in Latin America.