LEVEL 3 COMMUNICATIONS ACQUIRES GERMAN INTERNET SERVICE PROVIDER; GAINS INITIAL PRESENCE IN KEY EUROPEAN MARKET
London, UK September 15, 1998 – Level 3 Communications, Inc. (Nasdaq: LVLT) today announced that a definitive purchase agreement has been executed with miknet Internet Based Services GmbH, a German Internet Service Provider (ISP) headquartered in Frankfurt. "The merger with miknet accelerates Level 3's German business plan," said Colin Williams, president and CEO of Level 3 International, Inc.
"They bring an experienced team that understands both the Internet and the competitive telecommunications market. They also share Level 3's focus on bringing Internet service to business users." According to Robert Mirbaha, a founder of miknet, "We share Level 3's vision of the power and efficiency of a completely Internet Protocol-(IP)based communications network. We look forward to contributing to Level 3's worldwide success. We are confident that, together with Level 3, we can revolutionize IP-based services in Germany."
Level 3 has announced that it is building an international network based on Internet Prototcol (IP) Technology and that the network will encompass networks in the United States, Asia and Europe. The company has also negotiated with several cable concerns for access on cross-Atlantic cables and has joined with several other telecommunications companies to build a cross-Pacific cable. It expects to begin providing services in several U.S. cities in the third quarter and in Europe in the first quarter of 1999.
About miknet
miknet Internet Based Services GmbH is one of the leading German providers of Internet based services with its registered office in Frankfurt am Main. The company, which was founded in 1996, operates its own backbone and offers ISPs and large companies access to the Internet. Just under 50 Points of Presence (POPs) are linked by the integrated miknet network. The company's connection to the most important nodes (MAE East, The LINX, DE-CIX, MAE Frankfurt and the German science network B-WIN) provide customers a high level of reliability and excellent transmission performance.
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.
Forward-Looking Statement
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.
