Network Upgrade and System Expansion to Provide Additional Cost Savings
DENVER, Aug. 15 /PRNewswire/ -- RMI.NET, Inc. (Nasdaq: RMII) and Global
Crossing North America today announced a five-year, $46 million agreement.
Under the terms of the arrangement, Global Crossing North America will provide
RMI.NET with nationwide fiber backbone. RMI.NET, a national e-commerce/Web
Solutions and connectivity company, will use these network services to enhance
its nationwide broadband fiber optic infrastructure.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO )
This nationwide network enhancement provides RMI.NET with a SONET
platform, additional geographic reach and increased capacity at a lower cost.
It also provides RMI.NET customers with more reliable data transmission at
higher rates of speed.
"This is another milestone in the implementation of our recently
introduced five-point strategic action plan," said Douglas H. Hanson, CEO and
chairman of RMI.NET. "This agreement upgrades our network not only from a
reliability standpoint but also strengthens RMI.NET as a Tier 1 Internet
provider. We're confident that the network improvements established in this
relationship with Global Crossing will allow us to expand our service
capabilities at reduced costs while enhancing the service to our customers."
Improvements to RMI.NET's Tier 1 Internet backbone include:
-- Upgraded connections on MAE-East and MAE-West plus improved
connectivity in New York, Dallas, Los Angeles, Chicago and other key
cities to accommodate additional growth.
-- Increased points of presence in RMI.NET's major strategic marketing
areas.
-- Native ATM backbone, Frame Relay, and IP platform for all data and
video services, providing the ability to route data more efficiently.
-- Network management from RMI.NET's network operations centers,
including Denver, Seattle, Phoenix, Tucson, San Francisco and
Bloomington, Ill. providing the company with the ability to directly
monitor and oversee quality of service to customers.
"We view RMI.NET as a progressive e-commerce business solutions provider.
It has the expertise small and medium-sized businesses are looking for to
commerce-enable their Web presence," said Brian V. Fitzpatrick, president of
North American Carrier Operations for Global Crossing. "Its aggressive growth
and expansion will continue with greater efficiency as a result of this
agreement with us."
In making the announcement, Hanson also said that this initiative, coupled
with others taken earlier this year, would accelerate the company's
profitability goal. In addition to upgrading its network, the company is
focusing on reducing expenses, growing revenue organically, increasing
customer retention and developing market driven products.
About RMI.NET
Denver-based RMI.NET, Inc., is a national e-commerce/Web solutions and
connectivity company focusing on solutions for small and medium-sized
businesses. The Company specializes in e-business applications; Web
solutions, including design, hosting and marketing; and high-speed Internet
access, including digital subscriber line (DSL). RMI.NET has an approximate
annualized revenue run rate of $50 million and more than 100,000 nationwide
customers. The Company wholly owns a shopping, e-commerce and portal site,
http://www.webzone.com, which includes the proprietary search engine, Infohiway. For
more information, call (800) 411-6066, or visit RMI.NET's web site at
http://www.rmi.net.
About Global Crossing
Global Crossing North America is a division of Global Crossing Ltd.
(Nasdaq: GBLX). Global Crossing Ltd. is building and offering services over
the world's most extensive global IP-based fiber optic network, which will
have more than 101,000 route miles, serving five continents, 27 countries and
more than 200 major cities. Global Crossing's subsidiary, GlobalCenter Inc.,
is a leading Internet service company, and its customers own many of the
largest and most densely trafficked sites on the Web. Global Crossing's
operations are headquartered in Hamilton, Bermuda, with principal offices in
Los Angeles, California; London, England; Amsterdam, The Netherlands;
Morristown, New Jersey; Rochester, New York; Sunnyvale, California; and Miami,
Florida. Visit Global Crossing at http://www.globalcrossing.com on the Web.
This press release may contain forward-looking statements within the scope
of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Although the company believes these statements are based on reasonable
assumptions, it can give no assurance that its goals will be achieved.
Differences between assumed facts and actual results can be material depending
on the circumstances and investors should be aware of the important factors
that could have a material impact on future results. Please refer to the
company's cautionary statements section of RMI.NET's 10-K dated December 31,
1999 and other Securities and Exchange Commission (SEC) filings subsequent to
this date.
SOURCE RMI.NET, Inc.
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Related links:
http://www.rmi.net
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990628/RMILOGO
PRN Photo Desk, 888-776-6555 or 201-369-3467
CONTACT:
Steven P. Eschbach, CFA, Vice President --
Investor Relations of RMI.NET, 303-308-2272,
steve.eschbach@corp.rmi.net
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