LEVEL 3 COMMUNICATIONS BUYS BUILDING IN NEW YORK CITY STATE-OF-THE-ART TELECOMMUNICATIONS FACILITY UNDER CONSTRUCTION
BROOMFIELD, COLORADO, August 2, 1999 – Level 3 Communications, Inc. (Nasdaq: LVLT) announced today that it has acquired 560,000 square feet of building space at 85 Tenth Avenue in New York City. When completed, 100 percent of the available square footage will house Level 3's Optical Internet Protocol (IP) equipment, as well as other customer and carrier colocated equipment.
During its first year of operation, the demand for Level 3's colocation services has exceeded expectations, especially in New York City. Level 3's investment in this building represents the most efficient way to ensure that the Level 3 Network remains "continuously upgradeable," the key feature in Level 3's national IP-based network. The purchase of this building and the planned construction of the site as a state-of-the-art telecommunications facility will significantly expand Level 3's presence in the New York area. Level 3 believes it is building more colocation space worldwide than any other telecommunications company.
Level 3 colocation features world-class facilities with high-speed access to the Level 3 Network, as well as direct interconnects with other network providers, giving Level 3's customers a quick, cost-efficient way to launch their services. This additional property will significantly increase the colocation capacity for Level 3 within the New York market. "We are pleased to have secured space in such a strategic area within New York City, which will contribute toward the city's technological advancement and infrastructure," said Patrick Lynch, vice president of Real Estate for Level 3. "Establishing a facilities-based presence in the New York metropolitan area is also an important step in Level 3's overall business plan to connect key markets throughout the U.S. to its national IP-based network." Level 3 is building the first international network based on Internet Protocol (IP) technology. When completed, the Level 3 network will combine both local and long distance networks, connecting customers end-to-end across the U.S. and in Europe and the Pacific Rim.
By year-end 1999, Level 3 expects to offer services in 27 U.S. cities and 5 European cities. When completed, the Level 3 Network will include local networks in 50 U.S. cities and 21 international cities, and be connected to an approximately 16,000 mile U.S. intercity network and an approximately 3,500 mile European network. The U.S. network will also connect approximately 150 cities in which the company will have a Point of Presence (POP) and can offer long distance services.
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.
