BROOMFIELD, Colo. and WASHINGTON D.C., October 28, 2005 – Level 3 Communications (Nasdaq:LVLT) and Cogent Communications (Amex:COI) today announced that the companies have agreed on terms to continue to exchange Internet traffic under a modified version of their original peering agreement. The modified peering arrangement allows for the continued exchange of traffic between the two companies’ networks, and includes commitments from each party with respect to the characteristics and volume of traffic to be exchanged. Under the terms of the agreement, the companies have agreed to the settlement-free exchange of traffic subject to specific payments if certain obligations are not met.
The modified arrangement is designed to mitigate any impact to customers’ Internet connectivity as it sets forth an agreed process to protect customers upon the expiration of the peering relationship, or upon violations of the agreement that are not remedied in accordance with the revised agreement. Those protections include advance written notice to the customers of each party upon termination of the agreement, as well as terms assuring the continued exchange of traffic for a reasonable transition period.
The specific terms of the agreement are confidential.
As part of today’s joint announcement, Level 3 and Cogent underscored their common view that the implementation of their modified peering agreement, effective immediately, serves the best interests of both companies’ customers. As a result of the agreement, Level 3 will not proceed with disconnection on November 9, as previously announced.
About Cogent Communications
Cogent Communications (AMEX: COI) is the number one provider of Ethernet services in the United States based on the number of ports in service as ranked by Ovum-RHK and is one of the fastest growing Tier 1 ISPs in the world. Its facilities based, all-optical network delivers ultra-high speed Internet access and transport services to businesses and service providers in major metropolitan areas. Cogent offers services across its 30,600-mile IP network spanning 12 countries located in North America and Europe.
The combination of technology, IP network architecture and unique business model make Cogent one of the most popular solutions for reliable, cost-effective Internet service in the industry. Cogent offers several focused services that complement its On-Net Internet access service including dedicated Off-Net (T1, T3) Internet service, colocation services in 28 data centers across North America and Europe, and Layer 2 Point-to-Point services in every On-Net market.
Cogent Communications is headquartered at 1015 31st Street, NW, Washington, D.C. 20007. For more information, visit www.cogentco.com. Cogent Communications can be reached in the United States at (202) 295-4200 or via email at info@cogentco.com.
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.
