| An SI Board Since February 2000 |
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Business Description
We are a building-centric integrated communications provider currentlyserving small and medium-sized businesses in major metropolitan marketsthroughout the United States. We offer our customers a full range ofcommunications services, including feature-rich digital telephones, local andlong distance voice services, high speed, always-on Internet access, businesstelevision and other enhanced communications services. We deliver theseservices over state-of-the-art fiber-optic, digital and broadband networks thatwe design, construct, own and operate inside large and medium-sized officebuildings. We differentiate ourselves from other communications companies byproviding a single-source communications solution with a high degree ofcustomer service and responsiveness. Our customers are assigned a singlededicated on-site or near-site support team to address their sales and serviceneeds. Our customers also benefit from the convenience and efficiency ofreceiving a single integrated bill for all of their communications services. We began providing bundled communications services and operating in-buildingnetworks in June 1996 in Atlanta. As of November 30, 1999, we were operatingour networks in 113 buildings representing approximately 29 million rentablesquare feet in 12 major metropolitan areas, including Atlanta, Boston, Chicago,Dallas, Denver, Houston, Los Angeles, Miami, New Orleans, Orange County, SanDiego and Washington, D.C. Overall, we have license agreements with buildingowners and property managers giving us the right to install and operate ournetworks in more than 700 buildings representing more than 232 million rentablesquare feet in 50 major metropolitan areas. The typical length of our licenseagreements is ten years.
Competitors
We face competition from many entities with significantly greater financial resources, well-established brand names, larger customer bases and diverse strategic plans and technologies. We compete against many communications companies which provide individual or bundled services. Numerous companies may also seek to enter our market and may expose us to severe price competition for our services or for building access rights. We expect competition to intensify in the future. We expect significant competition from traditional and new communications companies, including local, long distance, cable modem, Internet, digital subscriber line, microwave, mobile and satellite data service providers, some of which are detailed below. If these potential competitors successfully focus on our market, we may face intense competition which could harm our business. We face competition from other building-centric communications providers Some competitors are attempting to gain access to office buildings in our target markets. These companies include Advanced Radio Telecom, Allied Riser Communications, Broadband Office, Intermedia, NEXTLINK, OnSite Access, RCN Telecom Services, SiteLine, Teligent, Urban Media and Winstar. Some of these competitors are seeking to develop exclusive relationships with building owners. To the extent these competitors are successful, we may face difficulties in building our networks and marketing our services within some of our target buildings. Our agreements to use utility shaft space within buildings are generally not exclusive. An owner of any of the buildings in which we do not have exclusive rights to install a network could also give similar rights to one of our competitors.
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