Joint Build Strategy Allows For More Rapid Deployment Of Additional Capacity On World's Busiest Trans-Oceanic Communication Route 1.28 Terabit Cable Expected To Be Ready For Service By September 2000 Cable Sets New Capacity and Capability Record for the
BROOMFIELD, CO - February 17, 2000 – Level 3 Communications, Inc. (Nasdaq: LVLT) today announced an agreement whereby Global Crossing Ltd. (Nasdaq: GBLX) will acquire a 50 percent ownership interest in the previously announced Level 3 transatlantic fiber optic cable now under construction. Level 3 also announced that it will acquire capacity on Global Crossing\'s transatlantic cable Atlantic Crossing 1 (AC 1).
The four fiber pair, 1.28 terabit system -- announced by Level 3 in April 1999 -- is already under construction and has a scheduled in-service date of September 2000. Under the co-build agreement, Level 3 and Global Crossing will each separately own and operate two of the four fiber pairs on this transatlantic cable. Landing stations are on Long Island in the United States and on the West Coast of the United Kingdom. The cable will use advanced optical transmission technology to maximize capacity. Level 3 is managing the construction of the cable. Level 3\'s two fiber pairs will continue to be called Project Yellow. In addition, Level 3 will acquire capacity on Global Crossing\'s AC 1. This AC 1 capacity will enable Level 3 to offer protected services and develop its meshed network architecture across the Atlantic. Global Crossing\'s two fiber pairs will be called Atlantic Crossing 2, or AC-2, a system announced in March 1999 to provide double-redundancy across the highly trafficked Atlantic corridor, and will be fully integrated with the Global Crossing Network.
(* Softswitches are advanced software based switching systems, which enable Level 3 to provide services combining the best features of the Internet and traditional telephone networks.)
About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ: LVLT), an international communications company, operates one of the largest Internet backbones in the world, connecting 180 markets in 18 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, content delivery and media distribution services. These services provide the building blocks to enable Level 3’s customers to meet their growing demands for advanced communications solutions. The company’s Web address is www.Level3.com.
"Level 3 Communications,” "Level 3," the red 3D brackets and the Level 3 Communications logo are registered service marks of Level 3 Communications, LLC in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service, product or company names recited herein may be trademarks or service marks of their respective owners.
Some of the statements that we make in this press release are forward looking in nature. These statements are based on management’s current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside our control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent us from achieving our stated goals include, but are not limited to our ability to: successfully integrate acquisitions; increase the volume of traffic on our network; defend our intellectual property and proprietary rights; develop new products and services that meet customer demands and generate acceptable margins; successfully complete commercial testing of new technology and information systems to support new products and services; attract and retain qualified management and other personnel; and meet all of the terms and conditions of our debt obligations. Additional information concerning these and other important factors can be found within Level 3’s filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.