WILLIAMS COMMUNICATIONS CEO REFUTES BANDWIDTH GLUT
During a keynote speech at The Goldman Sachs Emerging Telco and Internet Infrastructure Conference, Howard Janzen, Chairman and CEO of Williams Communications, said it is “simply not accurate to add up dark fiber in the ground and then say there is too much capacity.”  Janzen argues that the vast amounts of unlit fiber represent a reserve for the inevitable future growth in demand.  Tapping into this capacity requires a great deal of time and capital to light the dark fiber.  Janzen also predicts the market will see continued “vaporization of weaker players.”  http://www.williamscommunications.com/newsroom/newsreleases/2001/061901.html
Williams Communications, June 19, 2001

YAHOO! BROADBAND SELECTS ASIA GLOBAL CROSSING IP TRANSIT SERVICE
Yahoo! BB, a broadband service provided by Softbank Group and Yahoo! Japan, selected Asia Global Crossing's IP Transit service as its main international backbone.  Yahoo! BB will connect to the service using multiple Gigabit Ethernet connections.  http://www.asiaglobalcrossing.com/  
Asia Global Crossing, June 20, 2001

• Major shareholders in Asia Global Crossing include Global Crossing, Softbank and Microsoft.

DIRECTV SELECTS GLOBAL CROSSING TO LINK BROADCAST CENTERS
DIRECTV selected Global Crossing to provide OC-3 connections between broadcast centers in Los Angeles and Castle Rock, Colorado.  The connection will enable DIRECTV to transport data for DIRECTV receivers equipped with UltimateTV and TiVo services.  Global Crossing recently launched an extranet service for the media & entertainment markets that is being optimized for film production, television broadcast and digital asset management applications.  http://www.globalcrossing.com/pressreleases/pr_062001a.htm
Global Crossing, June 20, 2001

INFONET BUILDS INTER-PROVIDER MPLS VPNS
Infonet Services Corp. will introduce a fully managed IP VPN service based on Inter-Provider capable MPLS.  The capability would enable Infonet to carry Class of Service traffic across multiple MPLS partner networks.  Infonet is signing MPLS VPN partnerships with other national and international networks in hopes of offering the service to multinational corporations.  Infonet operates a Cisco-powered network.  http://www.infonet.com/news/x00_010620-1.shtml 
Infonet, June 20, 2001

VERIZON TRIMS ITS SHARE IN FLAG TELECOM TO 19%
Verizon sold 15 million of its shares in FLAG Telecom to TGN Holdings Ltd., a subsidiary of Tyco. Following the sale, which was completed yesterday, Verizon owns approximately 18.6%, and Tyco owns approximately 11.2%, of FLAG Telecom's outstanding common stock.  http://www.flagtelecom.com/ 
FLAG Telecom, June 20, 2001

• In April, Verizon and FLAG Telecom agreed to collaborate on a pan-European network.  Under the alliance, certain European dark fiber and collocation facilities owned by FLAG Telecom will be purchased by Verizon.  Verizon will own, operate and manage the city-to-city backbone network, while FLAG Telecom will provide and manage its own IP layer and collocation space for its customers.
• In February, Verizon announced plans to build and operate a global voice and data network linking the US with major cities in Europe, Asia and Latin America.  To deploy the network, Verizon will acquire and manage fiber-optic cable, switching and transmission equipment, transmission facilities, and related network management software.  Verizon said that routing international calls over its new network rather than via other carriers could save the company more than $300 million in transport costs over five years.  Verizon notes that 40 percent of all international long-distance traffic in the United States originates in its service territory.

FRANCE’S TÉLÉCOM DÉVELOPPEMENT SELECTS CIENA DWDM
Télécom Développement, a French long distance operator, is deploying CIENA's 96-channel capable MultiWave CoreStream DWDM platform in more than 30 cities across France.  TD's CoreStream deployments allow connections at 2.5Gbps and 10Gbps as demand evolves.  Financial terms were not disclosed.  http://www.ciena.com/news/archive/2001/06/06.20.2001.html
CIENA, June 20, 2001

• Télécom Développement’s transmission network consisted of almost 18,000 km of fiber at the end of 2000.  TD's main products, switched minutes and leased lines, are offered to the public through Cegetel.  http://www.telecom-dev.fr

CIELO ANNOUNCES 10 GBPS VCSEL-BASED 1310 NM SERIAL TRANSPONDER
Cielo Communications released the first 10 Gbps VCSEL-based 1310 nm serial transponder for OC-192 and 10 Gbps.  The device complies with an Optical Internetworking Forum (OIF) implementation agreement for a common electrical interface between SONET framers and SerDes parts for OC-192 interfaces for 1310 nm optical interconnects.  The transponder features a jitter filter, high-speed serializer, laser driver and a 10 Gbps 1310 nm VCSEL on the transmit side, while the receiver incorporates a PIN photodiode, transimpedance amplifier, limiting amplifier, clock and data recovery (CDR) circuit, and deserializer.  Pricing starts at $8,000.  Cielo also offers a 10 Gbps 850 nm serial transponder.  http://www.cieloinc.com/ 
Cielo Communications, June 20, 2001

WAYPORT GAINS TRACTION WITH ITS WI-FI INTERNET ACCESS IN HOTELS
Since receiving $70 million in funding six months ago, Wayport's footprint of installed guest rooms with access to its “WiFi” 802.11b wireless Internet access service has nearly tripled to approximately 90,000 rooms in more than 400 major hotels.  In that same time period, its billed user connections have increased at an even faster rate to nearly 33,000 per month.  For guests who have notebook computers that are not wirelessly enabled, Wayport provides hoteliers with wireless Ethernet PC cards or USB-to-wireless adapters that can be checked-out.  Wayport said it is now able to install its service in new hotels within 90 days.  In addition to hotel locations, Wayport currently serves four major US airports.  http://www.wayport.net/
Wayport, June 20, 2001

COVAD ADDS 45K DSL ACCOUNTS IN Q1, DROPS LINES FROM DISTRESSED ISPS
At the end of Q1, Covad Communications was serving 319,000 DSL accounts, up from 274,000 lines at December 31, 2000.  Revenue for the quarter was $71.2 million and the net loss was $174.7 million, including $14.8 million in restructuring charges.  Covad expects to reduce the number of lines served through financially distressed ISPs in the second quarter, which will result in fewer net subscriber line additions.  http://www.covad.com/companyinfo/pressreleases/pr_2001/062001_press.shtml 
Covad Communications, June 20, 2001

• Covad recently named Charles E. Hoffman as its new president and CEO.  Hoffman most recently served as CEO of Rogers Wireless Communications, Canada's largest wireless communications services provider.

VYYO ANNOUNCES NON-LINE-OF-SIGHT WIRELESS STRATEGY
Vyyo plans to migrate its wireless DOCSIS platform to a non-line-of-site (NLOS) broadband fixed wireless system based on vector orthogonal frequency division multiplexing (VOFDM) standards.  The system will first be implemented in multi-channel, multipoint distribution service (MMDS) and 3.5 GHz frequency bands systems.  Vyyo's NLOS system will also feature VoIP capabilities and a dynamic adaptive modulation scheme for maximizing spectral efficiency.  http://www.vyyo.com/news/press.html
Vyyo, June 20, 2001

RIVERSTONE REPORTS REVENUE OF $44.2 MILLION, UP 26% SEQUENTIALLY
Riverstone Networks reported quarterly revenues of $44.2 million, up 180% over the same period last year and up 26% over the preceding quarter.  Net loss for the quarter, which excludes stock-based compensation and amortization of goodwill, was $3.6 million or $0.03 per share.  Riverstone attributed the strong results to its growing list of carrier customers, including such companies as BT, Japan Telecom, Qwest Communications, Retevision, Saritel, Telia, Time Warner Telecom and UUNet.  The company said metro buildouts worldwide remain robust.  http://ir.riverstonenet.com/ireye/ir_site.zhtml?ticker=rstn&script=2100 
Riverstone Networks, June 20, 2001

EXODUS SEES DROP IN MANAGED HOSTING SALES
Exodus Communications, which provides managed hosting services for enterprises, expects its Q2 revenue to be approximately $315 million, compared to Q1 revenues of $348.7 million.  The revenue shortfall is due to a decrease in the rate of new customer installations, an increase in the rate of cancellations, reductions of orders from existing customers, and an increase in reserves related to dot com failures.  http://www.exodus.net/
Exodus, June 20, 2001

• In a conference call, Exodus said its capital expenditures for Q2 would fall to $280 million from $510 million in Q1, reflecting the completion of construction of its Internet Data Centers.  CAPEX for the remainder of the year is forecast at $110 million.