TyCom and FLAG to Jointly Develop Transpacific Network

TyCom Awarded Supply Contract for Network Valued at US$1.7-billion and Will

Acquire Four Fiber Pairs to Complete TyCom Transpacific System



Company to Receive Multi-year Seahorse Marine Maintenance Contract to Support

FLAG Telecom's Atlantic and Pacific Systems



Apr 17, 2001, 01:00 ET from TyCom Ltd.

    PEMBROKE, Bermuda, April 17 /PRNewswire/ -- TyCom Ltd.
 (NYSE:   TCM; BSX: TCM) today announced that it has agreed, in principle, with
 FLAG Telecom (Nasdaq: FTHL; LSE:   FTL) for the two companies to join their
 previously announced transpacific networks in a joint development arrangement.
 TyCom will receive contracts to build the complete transpacific ring, part of
 which will become the FLAG Pacific-1 network, for US$1.7 billion, which
 includes all undersea cable, electronics and cable stations.  TyCom will
 purchase from FLAG Telecom four fiber pairs on that ring to create the TyCom
 Transpacific portion of the TyCom Global Network (TGN).  The ready for service
 (RFS) date for the system is expected to be achieved in the second calendar
 quarter of 2002.
     TyCom, through its Seahorse program, will also receive a contract to
 provide wet maintenance on both FLAG Telecom's transpacific network, as well
 as FLAG Telecom's new transatlantic system, which is scheduled to go into
 service in the second quarter of this year.  Seahorse is TyCom's innovative
 marine maintenance service program that provides responsive support to network
 owners through a dedicated fleet of cable ships strategically stationed around
 the world.  This system is the fourth to be covered by TyCom's Seahorse
 program.
     "These transactions with FLAG Telecom will take our solid working
 relationship to the next level.  As a leader in the undersea network industry,
 TyCom is pleased to have been selected to build FLAG Telecom's transpacific
 system, as well as provide maintenance services for both their transatlantic
 and transpacific systems.  Both TyCom and FLAG Telecom have a number of common
 interests and this joint development is an excellent way to achieve our mutual
 goals in the Pacific," said Neil Garvey, President and CEO of TyCom.
     "FLAG Telecom is building one of the largest and most extensive global IP
 networks, and implementing a high-capacity transpacific system is a key
 element in our worldwide plans," said Andres Bande, Chief Executive Officer of
 FLAG Telecom.  "This arrangement is consistent with our strategy of minimizing
 capital at risk and reducing cash outlay in developing our global network.
 TyCom is an acknowledged technology leader in the undersea industry with a
 proven track record for on-time development, and we welcome the opportunity to
 work on this project together."
     The system to be built will be approximately 24,100 kilometers long and
 will connect Japan to the West Coast of the United States, then return to Asia
 via Guam and Hawaii.  The 8-fiber pair architecture, using both 64- and 96-
 channel DWDM transmission technology, will provide a state-of-the-art system
 having a maximum capacity up to 7.68 terabits/second.  TyCom has previously
 announced its intention to connect the TyCom Global Network (TGN) to other
 Asian countries including South Korea, Philippines, China, Singapore, Taiwan
 and Hong Kong, and to link all pan-Asian and transpacific segments into the
 TGN system.
     TyCom's deployment of Phase 1 of the TGN system is proceeding on or ahead
 of schedule in all parts of the world.  The transpacific portion is expected
 to be ready for service in the second calendar quarter of 2002.  TyCom
 Transatlantic, connecting New York and London, is scheduled to go into service
 in July of this year.
 
     ABOUT THE TYCOM GLOBAL NETWORK
     The TyCom Global Network is planned to be the world's most extensive and
 technologically advanced undersea fiber optic network.  Phase 1 of the TyCom
 Global Network is designed to offer multi-terabit capacity upgradeable to a
 maximum of 7.68 terabits per second, span more than 70,000 undersea kilometers
 and connect 30 major cities around the globe.  TyCom plans to design and
 manufacture the undersea cable, optical amplifiers and terminal equipment, and
 plans to design, build and equip the global and regional network management
 centers, TelExchange centers and cable stations along the route.  TyCom's own
 fleet of cable ships, one of the world's largest, will install and maintain
 the system.
 
     ABOUT TYCOM LTD.
     TyCom Ltd. (NYSE:   TCM; BSX: TCM), with 2000 revenues of $2.54 billion, is
 one of the world's largest providers of advanced broadband communications
 capacity, systems and services.  TyCom is a leading fully integrated supplier
 of transoceanic fiber optic systems, is the recognized world leader in
 undersea technology development and application, and operates one of the
 world's largest fleets of cable ships.  To meet growing demand, the Company is
 also deploying and selling capacity on the TyCom Global Network.  TyCom's
 parent company is Tyco International Ltd. (NYSE:   TYC; LSE:   TYI; BSX: TYC).
 For more information on TyCom, visit www.tycomltd.com.
 
     ABOUT TYCO INTERNATIONAL LTD.
     Tyco International Ltd. (NYSE:   TYC; LSE:   TYI; BSX: TYC) is a diversified
 manufacturing and service company.  Tyco is the world's largest manufacturer
 and servicer of electrical and electronic components; the world's largest
 designer, manufacturer, installer and servicer of undersea telecommunications
 systems; the world's largest manufacturer, installer and provider of fire
 protection systems and electronic security services, and the world's largest
 manufacturer of flow control valves.  Tyco also holds strong leadership
 positions in disposable medical products, diagnostic imaging, bulk
 pharmaceuticals, wound closure, plastics and adhesives.  Tyco operates in more
 than 100 countries and had fiscal 2000 sales of $28.9 billion.
 
     FORWARD LOOKING STATEMENT
     This release contains "forward-looking statements" within the meaning of
 the Private Securities Litigation Reform Act of 1995.  These statements are
 based on management's current expectations and are subject to uncertainty and
 changes in circumstances.  Actual results may vary materially from the
 expectations contained in the forward-looking statements.
     The following factors, among others, could cause actual results to differ
 materially from those described in the forward-looking statements: the timing
 of construction and the successful operation of the TyCom Global Network,
 changes in telecommunications technology, changes in demand for bandwidth
 capacity, receipt of necessary licenses and regulatory approvals, competitive
 factors in the undersea fiber optic cable industry and in the
 telecommunications industry generally, overall economic and business
 conditions, the buy-back of TyCom common shares, changes in the regulatory
 environment, the outcome of litigation, risks associated with conducting
 business in international markets, and other risks described in our Annual
 Report on Form 10-K for the fiscal year ended September 30, 2000, filed with
 the SEC.  TyCom is under no obligation (and expressly disclaims any
 obligation) to update or alter its forward-looking statements whether as a
 result of new information, future events or otherwise.
 
 

SOURCE TyCom Ltd.
    PEMBROKE, Bermuda, April 17 /PRNewswire/ -- TyCom Ltd.
 (NYSE:   TCM; BSX: TCM) today announced that it has agreed, in principle, with
 FLAG Telecom (Nasdaq: FTHL; LSE:   FTL) for the two companies to join their
 previously announced transpacific networks in a joint development arrangement.
 TyCom will receive contracts to build the complete transpacific ring, part of
 which will become the FLAG Pacific-1 network, for US$1.7 billion, which
 includes all undersea cable, electronics and cable stations.  TyCom will
 purchase from FLAG Telecom four fiber pairs on that ring to create the TyCom
 Transpacific portion of the TyCom Global Network (TGN).  The ready for service
 (RFS) date for the system is expected to be achieved in the second calendar
 quarter of 2002.
     TyCom, through its Seahorse program, will also receive a contract to
 provide wet maintenance on both FLAG Telecom's transpacific network, as well
 as FLAG Telecom's new transatlantic system, which is scheduled to go into
 service in the second quarter of this year.  Seahorse is TyCom's innovative
 marine maintenance service program that provides responsive support to network
 owners through a dedicated fleet of cable ships strategically stationed around
 the world.  This system is the fourth to be covered by TyCom's Seahorse
 program.
     "These transactions with FLAG Telecom will take our solid working
 relationship to the next level.  As a leader in the undersea network industry,
 TyCom is pleased to have been selected to build FLAG Telecom's transpacific
 system, as well as provide maintenance services for both their transatlantic
 and transpacific systems.  Both TyCom and FLAG Telecom have a number of common
 interests and this joint development is an excellent way to achieve our mutual
 goals in the Pacific," said Neil Garvey, President and CEO of TyCom.
     "FLAG Telecom is building one of the largest and most extensive global IP
 networks, and implementing a high-capacity transpacific system is a key
 element in our worldwide plans," said Andres Bande, Chief Executive Officer of
 FLAG Telecom.  "This arrangement is consistent with our strategy of minimizing
 capital at risk and reducing cash outlay in developing our global network.
 TyCom is an acknowledged technology leader in the undersea industry with a
 proven track record for on-time development, and we welcome the opportunity to
 work on this project together."
     The system to be built will be approximately 24,100 kilometers long and
 will connect Japan to the West Coast of the United States, then return to Asia
 via Guam and Hawaii.  The 8-fiber pair architecture, using both 64- and 96-
 channel DWDM transmission technology, will provide a state-of-the-art system
 having a maximum capacity up to 7.68 terabits/second.  TyCom has previously
 announced its intention to connect the TyCom Global Network (TGN) to other
 Asian countries including South Korea, Philippines, China, Singapore, Taiwan
 and Hong Kong, and to link all pan-Asian and transpacific segments into the
 TGN system.
     TyCom's deployment of Phase 1 of the TGN system is proceeding on or ahead
 of schedule in all parts of the world.  The transpacific portion is expected
 to be ready for service in the second calendar quarter of 2002.  TyCom
 Transatlantic, connecting New York and London, is scheduled to go into service
 in July of this year.
 
     ABOUT THE TYCOM GLOBAL NETWORK
     The TyCom Global Network is planned to be the world's most extensive and
 technologically advanced undersea fiber optic network.  Phase 1 of the TyCom
 Global Network is designed to offer multi-terabit capacity upgradeable to a
 maximum of 7.68 terabits per second, span more than 70,000 undersea kilometers
 and connect 30 major cities around the globe.  TyCom plans to design and
 manufacture the undersea cable, optical amplifiers and terminal equipment, and
 plans to design, build and equip the global and regional network management
 centers, TelExchange centers and cable stations along the route.  TyCom's own
 fleet of cable ships, one of the world's largest, will install and maintain
 the system.
 
     ABOUT TYCOM LTD.
     TyCom Ltd. (NYSE:   TCM; BSX: TCM), with 2000 revenues of $2.54 billion, is
 one of the world's largest providers of advanced broadband communications
 capacity, systems and services.  TyCom is a leading fully integrated supplier
 of transoceanic fiber optic systems, is the recognized world leader in
 undersea technology development and application, and operates one of the
 world's largest fleets of cable ships.  To meet growing demand, the Company is
 also deploying and selling capacity on the TyCom Global Network.  TyCom's
 parent company is Tyco International Ltd. (NYSE:   TYC; LSE:   TYI; BSX: TYC).
 For more information on TyCom, visit www.tycomltd.com.
 
     ABOUT TYCO INTERNATIONAL LTD.
     Tyco International Ltd. (NYSE:   TYC; LSE:   TYI; BSX: TYC) is a diversified
 manufacturing and service company.  Tyco is the world's largest manufacturer
 and servicer of electrical and electronic components; the world's largest
 designer, manufacturer, installer and servicer of undersea telecommunications
 systems; the world's largest manufacturer, installer and provider of fire
 protection systems and electronic security services, and the world's largest
 manufacturer of flow control valves.  Tyco also holds strong leadership
 positions in disposable medical products, diagnostic imaging, bulk
 pharmaceuticals, wound closure, plastics and adhesives.  Tyco operates in more
 than 100 countries and had fiscal 2000 sales of $28.9 billion.
 
     FORWARD LOOKING STATEMENT
     This release contains "forward-looking statements" within the meaning of
 the Private Securities Litigation Reform Act of 1995.  These statements are
 based on management's current expectations and are subject to uncertainty and
 changes in circumstances.  Actual results may vary materially from the
 expectations contained in the forward-looking statements.
     The following factors, among others, could cause actual results to differ
 materially from those described in the forward-looking statements: the timing
 of construction and the successful operation of the TyCom Global Network,
 changes in telecommunications technology, changes in demand for bandwidth
 capacity, receipt of necessary licenses and regulatory approvals, competitive
 factors in the undersea fiber optic cable industry and in the
 telecommunications industry generally, overall economic and business
 conditions, the buy-back of TyCom common shares, changes in the regulatory
 environment, the outcome of litigation, risks associated with conducting
 business in international markets, and other risks described in our Annual
 Report on Form 10-K for the fiscal year ended September 30, 2000, filed with
 the SEC.  TyCom is under no obligation (and expressly disclaims any
 obligation) to update or alter its forward-looking statements whether as a
 result of new information, future events or otherwise.
 
 SOURCE  TyCom Ltd.

RELATED LINKS

http://www.tycoint.com