Company Signs Agreements with the Yulon Group in Taiwan, and Taihan Electric Wire and OPTOmagic in Korea
Level 3 Enters Joint Ventures to Comply with Foreign Ownership Regulations
Company Takes Significant Step to Bring Advanced Broadband Services to Region
BROOMFIELD, Colo., March 13, 2001 - Level 3 Communications, Inc. (Nasdaq:LVLT) today announced it has formed joint ventures with the Yulon Group in Taiwan, and Taihan Electric Wire and OPTOmagic in Korea. The joint ventures have been formed in accordance with foreign ownership regulations in Taiwan and Korea. This is the latest in a number of significant steps the company has taken to bring advanced broadband services to the region. "We are pleased to be associated with the Yulon Group, Taihan Electric Wire and OPTOmagic," said Steve Liddell, chief executive officer of Level 3 Asia. "These companies' strong reputations, local relationships and expertise in the communications industry will enable Level 3's entry into two of the world's largest and most dynamic broadband markets, allowing us to serve Internet and communications companies in Taiwan and Korea as quickly and efficiently as possible."
The joint ventures will allow Level 3 to connect Taiwan and Korea directly to other major North Asian markets, including Japan and Hong Kong, via its undersea North Asian cable system. The submarine cable will seamlessly link these Asian markets to the United States and Europe, and provide Taiwan and Korean with affordable international broadband capacity, driving growth at all levels in these two important broadband markets.
Level 3's Global Broadband Infrastructure
In addition to operations in Asia, Level 3 has built and operates a new fiber-optic network that spans Europe and North America, including 32 metropolitan networks, with a unit cost basis that is unparalleled in the telecommunications industry. The company also constructed and operates a transatlantic cable system connecting North America and Europe, and is nearing completion of an undersea cable connecting Hong Kong and Tokyo. Level 3 has secured more than 6 million square feet of colocation and Gateway space in 66 data centers serving 52 North American markets, 9 European markets, Hong Kong and Japan.
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.
