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Level 3 Receives Final Permits to Complete High Capacity Hong Kong-Japan Undersea Cable
Broomfield, Colo. (ots-PRNewswire) - Company First to Deliver Next Generation Submarine Cable to Hong Kong Eight Times Hong Kong's Existing Bandwidth to Fuel Growth of Web-Centric Community.
Level 3 Communications Inc. (Nasdaq: LVLT) today announced that it has received final approval of its application to build and land its Hong Kong - Japan cable under the Foreshore and Sea-bed Reclamations Ordinance (FSRO). This is the last of the Hong Kong government permits required and means the company can now complete its high capacity cable. The company is now ready to commence the physical process of laying the undersea cable, which will bring eight times the existing capacity into Hong Kong.
"We are very pleased with our success to date in bringing our broadband cable and the much-needed bandwidth into Hong Kong," said Steve Liddell, chief executive officer of Level 3 Asia. "We believe that the local Internet community will share our excitement that a significant amount of lower-cost bandwidth will soon become available to help them operate more profitably."
Level 3's Hong Kong-Japan cable will land on South Lantau Island and connect to the company's international gateway facility in Quarry Bay. With an initial capacity of 320 gigabits and the ability to be upgraded to 2.56 terabits, the cable is scheduled to be completed by the second quarter of 2001. In Tokyo, it will interconnect with a cross-Pacific cable connecting Japan to Level 3's network in the United States.
Level 3 was granted the international submarine cable-based EFTNS (External Fixed Telecommunications Network Service) licence by the Office of Telecommunications Authority in July. So far it is the only company to receive a cable-based EFTNS licence allowing the company to offer new services via its own international broadband network.
Level 3 established its Asia headquarters in Hong Kong in May 1999 and has since made substantial progress in bringing its Internet-focused business strategy to the region. The company announced in January plans to build the first leg of its North Asia cable system connecting Japan to Hong Kong. Level 3 expects the cable to be ready for service in the second quarter of 2001. Level 3 is also in the advanced stages of building gateway facilities in Hong Kong's Quarry Bay and the Minato-ku district of Tokyo. Services will launch in the third and fourth quarter of this year in Hong Kong and Japan respectively.
About Level 3 Communications
Level 3 (Nasdaq: LVLT) is a global communications and information services company offering a wide selection of IP-based services including broadband transport, colocation services, submarine transmission services and the industry's first Softswitch* based services. Level 3 offers services primarily to web-centric companies that deliver their services over the Level 3 Network. The Level 3 Network will include metropolitan networks in 56 U.S. markets and 21 European and Asian markets connected by an approximately 16,000 mile U.S. intercity (long-distance) network, an approximately 4,750 mile European intercity network, both transpacific and transatlantic undersea cables and 6.5 million square feet of gateway and technical space. Level 3 expects to substantially complete the U.S. and second ring European intercity network by the fourth quarter of 2000. Level 3 currently offers broadband infrastructure services in 38 U.S. markets and five European markets. Its Web address is www.Level3.com.
(*Softswitches are advanced software based switching systems that enable Level 3 to provide services combining the best features of the Internet and traditional telephone networks.)
Some of the statements made by Level 3 in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Level 3 believes that its primary risk factors include, but are not limited to: substantial capital requirements; development of effective internal processes and systems; the ability to attract and retain high quality employees; changes in the overall economy; technology; the number and size of competitors in its markets; law and regulatory policy; and the mix of products and services offered in the company's target markets. 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 release should be evaluated in light of these important factors.
ots Original Text Service: Level 3 Communications Inc. Internet: http://recherche.newsaktuell.de
Contact: U.S. media, Josh Howell, (USA) 720-888-2517, or Paul Lonnegren, (USA) 720-888-6099, or investors, Robin Miller, (USA) 720-888-2500, or int'l media, Samantha English, +852 2201 8026, or Cannis Wong, +852 2201 8016, all of Level 3 Communications Inc.
Web site: http://www.level3.comOriginal-Content von: Level 3 Communications, übermittelt durch news aktuell