Company's 3,700-Mile Submarine System First New Transatlantic Internet and Communications Cable to be Launched in Two Years
BROOMFIELD, Colo., November 30, 2000 – Level 3 Communications, Inc. (Nasdaq:LVLT) today announced it has activated its new undersea cable connecting the company's North American and European broadband networks. The 3,700-mile submarine system, referred to as "Yellow," features more capacity – 320 gigabits initially with an upgrade capability to 1.28 terabits – than any transoceanic cable ever built and is the first new transatlantic cable activated in the last two years.
"The activation of this new undersea cable underscores Level 3's commitment to providing the highest capacity, most cost efficient bandwidth services between key markets across Europe and North America," said Lee Jobe, president of Global Operations for Level 3.
"This undersea cable is a key part of Level 3's global infrastructure," said Don Gips, group vice president of Global Sales and Marketing for Level 3. "The Yellow submarine cable provides a key link between Level 3 customers on both continents."
With its other Atlantic system investments, Level 3 offers a range of services including protected services between Europe and North America. Level 3 managed construction of the cable, which was co-built with Global Crossing (NYSE:GX). Global Crossing owns 50 percent of the cable (Global Crossing's 50 percent of the cable is referred to as "AC-2"). Level 3 also sold a 25 percent ownership interest to Viatel, Inc. (Nasdaq:VYTL). Level 3's co-ownership strategy frees capital, enhancing the company's ability to take advantage of new undersea fiber optic and electronics technologies as they emerge.
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.
