360networks announces major sales on undersea networks in first quarter of 2001

Company sells more than 25% of capacity on transatlantic network



Apr 03, 2001, 01:00 ET from 360networks Inc.

    VANCOUVER, April 3 /PRNewswire/ - 360networks (NASDAQ:   TSIX and TSE: TSX)
 announced today significant sales of network services on its undersea networks
 including 360atlantic, the company's high-bandwidth cable linking the United
 States, Canada, Ireland and the United Kingdom.
     In the first quarter of 2001, 360networks completed sales totaling more
 than US $475 million to major carriers and network service providers for
 services on 360atlantic, 360americas, 360asia, 360pacific as well as on its
 North American network.
     "Despite the challenging business environment worldwide, we have
 succeeded in selling a significant portion of the capacity on 360atlantic soon
 after completing and lighting it," said Greg Maffei, president and chief
 executive officer of 360networks. "Many of these new sales are from repeat
 customers, which we believe is a testament to the value of our global network
 and diversity of services as well as our ability to execute on time."
     360atlantic is the first multi-terabit transatlantic system with a fully
 protected ring configuration to be ready for service. In addition, 360atlantic
 is the first transatlantic cable to provide a direct connection between North
 America and Ireland, and among the first to support 10 gigabits per second of
 data on a single channel and offer total system capacity of 1.92 terabits per
 second. In a recent independent engineering review, 360atlantic's facilities
 were ranked among the highest in the telecommunications industry for
 reliability and safety.
     360asia is a 1.92 terabit-per-second undersea network under joint
 development with SingTel subsidiary C2C that will link Japan, Taiwan, the
 Philippines, South Korea, China, Hong Kong and Singapore by the end of the
 year. 360americas is a 1.28 terabit-per-second undersea cable that currently
 links the United States, Brazil, Venezuela and Bermuda, and will further
 connect Argentina in the third quarter of this year. 360pacific will be a six-
 fiber pair undersea transpacific system linking Canada, the United States and
 Japan, and offering up to 4.8 terabits per second of capacity.
     During the quarter, 360networks also acquired portable broadband services
 on Pacific and Asian undersea networks, as well as dark fiber and lit capacity
 on European long-haul networks and metropolitan networks in Europe and North
 America for a total of $225 million to be paid in 2001 and 2002. These
 services enable 360networks to expedite market penetration in important
 overseas markets.
 
     About 360networks
     360networks (NASDAQ:   TSIX and TSE: TSX) offers network services to
 telecommunications and data-centric organizations. 360networks is developing
 one of the largest and most technologically advanced fiber optic mesh networks
 in the world. By mid-2002, the planned network will span 143,000 kilometers
 (89,000 miles), and link more than 100 major cities with terrestrial routes
 and undersea cable systems joining North America, Europe, South America and
 Asia. 360networks is also developing metropolitan networks in 35 cities and
 nearly 3.7 million square feet of network facilities. More information is
 available at www.360.net.
 
     Forward looking statements: This document may contain statements about
 expected future events and financial results that are forward looking in
 nature, and, as a result, are subject to certain risks and uncertainties,
 including general economic and business conditions, and specific conditions
 affecting our sector, including pricing pressures and declining prices; our
 ability to access capital markets to ensure financial liquidity; competition;
 the inability to attract and retain our anticipated customer base; existing
 government regulations and changes in, or the failure to comply with,
 government regulations or obtain required permits or licenses; changes in
 business strategy or development plans; the ability to attract and retain
 qualified personnel; and other factors. Actual results may differ materially
 from those projected by management. For such statements, we claim the safe
 harbor for "forward looking statements" within the meaning of the Private
 Securities Litigation Reform Act of 1995.
 
 

SOURCE 360networks Inc.
    VANCOUVER, April 3 /PRNewswire/ - 360networks (NASDAQ:   TSIX and TSE: TSX)
 announced today significant sales of network services on its undersea networks
 including 360atlantic, the company's high-bandwidth cable linking the United
 States, Canada, Ireland and the United Kingdom.
     In the first quarter of 2001, 360networks completed sales totaling more
 than US $475 million to major carriers and network service providers for
 services on 360atlantic, 360americas, 360asia, 360pacific as well as on its
 North American network.
     "Despite the challenging business environment worldwide, we have
 succeeded in selling a significant portion of the capacity on 360atlantic soon
 after completing and lighting it," said Greg Maffei, president and chief
 executive officer of 360networks. "Many of these new sales are from repeat
 customers, which we believe is a testament to the value of our global network
 and diversity of services as well as our ability to execute on time."
     360atlantic is the first multi-terabit transatlantic system with a fully
 protected ring configuration to be ready for service. In addition, 360atlantic
 is the first transatlantic cable to provide a direct connection between North
 America and Ireland, and among the first to support 10 gigabits per second of
 data on a single channel and offer total system capacity of 1.92 terabits per
 second. In a recent independent engineering review, 360atlantic's facilities
 were ranked among the highest in the telecommunications industry for
 reliability and safety.
     360asia is a 1.92 terabit-per-second undersea network under joint
 development with SingTel subsidiary C2C that will link Japan, Taiwan, the
 Philippines, South Korea, China, Hong Kong and Singapore by the end of the
 year. 360americas is a 1.28 terabit-per-second undersea cable that currently
 links the United States, Brazil, Venezuela and Bermuda, and will further
 connect Argentina in the third quarter of this year. 360pacific will be a six-
 fiber pair undersea transpacific system linking Canada, the United States and
 Japan, and offering up to 4.8 terabits per second of capacity.
     During the quarter, 360networks also acquired portable broadband services
 on Pacific and Asian undersea networks, as well as dark fiber and lit capacity
 on European long-haul networks and metropolitan networks in Europe and North
 America for a total of $225 million to be paid in 2001 and 2002. These
 services enable 360networks to expedite market penetration in important
 overseas markets.
 
     About 360networks
     360networks (NASDAQ:   TSIX and TSE: TSX) offers network services to
 telecommunications and data-centric organizations. 360networks is developing
 one of the largest and most technologically advanced fiber optic mesh networks
 in the world. By mid-2002, the planned network will span 143,000 kilometers
 (89,000 miles), and link more than 100 major cities with terrestrial routes
 and undersea cable systems joining North America, Europe, South America and
 Asia. 360networks is also developing metropolitan networks in 35 cities and
 nearly 3.7 million square feet of network facilities. More information is
 available at www.360.net.
 
     Forward looking statements: This document may contain statements about
 expected future events and financial results that are forward looking in
 nature, and, as a result, are subject to certain risks and uncertainties,
 including general economic and business conditions, and specific conditions
 affecting our sector, including pricing pressures and declining prices; our
 ability to access capital markets to ensure financial liquidity; competition;
 the inability to attract and retain our anticipated customer base; existing
 government regulations and changes in, or the failure to comply with,
 government regulations or obtain required permits or licenses; changes in
 business strategy or development plans; the ability to attract and retain
 qualified personnel; and other factors. Actual results may differ materially
 from those projected by management. For such statements, we claim the safe
 harbor for "forward looking statements" within the meaning of the Private
 Securities Litigation Reform Act of 1995.
 
 SOURCE 360networks Inc.