(MSFT) (9984.) Asia Global Crossing and Singapore Technologies Telemedia Announces Agreement To Form Two Joint Ventures.Business Editors & High Tech Writers HAMILTON, BERMUDA/SINGAPORE--(BUSINESS WIRE)--May 21, 2000 (Nasdaq:GBLX GBLX Global Crossing Ltd. (stock symbol) )
-- First joint venture will build and operate backhaul and
telehouses to link Singapore to Hong Kong, Taiwan,
South Korea, Malaysia, the Philippines and, when regulations
permit, China via the 2.5 terabit East Asia Crossing system
and worldwide via the Global Crossing Network
-- Second joint venture will establish complex web hosting in
Singapore in GlobalCenter data center
-- Under the terms of the agreement, Singapore Technologies
Telemedia commits to capacity purchase from Asia Global
Crossing
Asia Global Crossing and Singapore Technologies Telemedia (STT STT State Street Corporation (stock symbol) STT Suomen Tietotoimisto (Finnish National News Agency) STT Secure Transaction Technology STT Surface Tension Transfer (welding) ) announced today an agreement to form two joint ventures to extend the reach of Asia Global Crossing's pan-Asian network into Singapore and enhance the data-centric services offered over that network. In addition, under the terms of the agreement, STT has committed to a significant capacity purchase from Asia Global Crossing. The first joint venture will build and operate backhaul and telehouses in Singapore, providing Asia Global Crossing with the necessary components to extend East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. Crossing, Asia Global Crossing's pan-Asian subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". fiber optic system, into Singapore. The joint venture's terrestrial fiber optic system will link to East Asia Crossing, which, in turn, will seamlessly connect Singapore with more than 200 major business centers worldwide via the Global Crossing Network. The second joint venture will be established to build and operate a data center, providing multinational customers in Singapore with a reliable platform for complex web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. solutions and other advanced data-centric services. As part of the GlobalCenter international network, the data center will adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. GlobalCenter technical specifications, ensuring global consistency of quality and service. "ST Telemedia's partnership with Asia Global Crossing is a significant milestone both for the company and Singapore's Info-Communications Industry as a whole," said Mr. Lee Theng Kiat, President of Singapore The President of the Republic of Singapore is the nation's head of state. In parliamentary systems like the Westminster system, which Singapore employs, the Prime Minister is the head of the government while the position of President is largely ceremonial. Technologies Telemedia. "We are constantly enhancing the capabilities of ST Telemedia, and in working with Asia Global Crossing, we can deliver world-wide connectivity and IP services effectively." "The opening of the telecommunications market by the government of Singapore The Government of Singapore is formed by the political party which gains a simple majority in the general elections held in Singapore at least once every five years. It is part of Singapore's political system and supported by the Singapore Civil Service. is proving to be a landmark decision A landmark decision is the outcome of a legal case (often thus referred to as a landmark case) that establishes a precedent that either substantially changes the interpretation of the law or that simply establishes new case law on a particular issue. for the rapid expansion of telecommunications services into the Asia Pacific region," said Mr. John Legere, Asia Global Crossing CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With a strong partner like Singapore Technologies Telemedia, we are looking forward to developing this key market as we have in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. with Hutchison Whampoa Hutchison Whampoa Limited or HWL (Traditional Chinese: 和記黃埔有限公司, HKSE: 0013 and in Japan with Marubeni. STT is the latest addition to the growing network of world class partnerships that Asia Global Crossing is forming to provide the first truly pan-Asian network, and we intend to continue this trend as we land our East Asia Crossing cable in Taiwan, Korea, and, as regulations permit, China." "We are delighted that STT has this opportunity to partner with Asia Global Crossing to expand its services to the regional and global companies based in Singapore," said Ms. Ho Ching
For Further Information
Asia Global Crossing
Investor contacts: Ms. Jensen Chow (Los Angeles CA), +1 310 385 5283,
jchow@globalcrossing.com by e-mail.
Press contact: Ms. Madelyn Smith (Los Angeles CA), +1 310 385 3816,
madelyn@globalcrossing.com by e-mail;
General information: Visit Global Crossing at www.globalcrossing.com
on the World Wide Web.
Singapore Technologies Telemedia
Press contacts: Mr. Lawrence Phang, +65 830 8684, Hp +65 9690 2027,
or lawrencep@stt.st.com.sg by email
Ms. Lynn Tan, +65 830 8631, or lynntan@stt.st.com.sg by email;
General information: Visit Singapore Technologies Telemedia at
www.stt.st.com.sg on the World Wide Web.
Additional Notes to Editor: About Singapore Technologies Telemedia Singapore Technologies Telemedia (STT) is a leading "New World" global info-communications service provider. It offers a wide suite of services through various subsidiaries and associates. These services include fixed and mobile telephony (StarHub), e-commerce solutions and services (stt.com), paging (ST SunPage), mobile data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. (ST Mobile Data), digital mobile communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. (ST Advanced Radio), satellite services (through ST Teleport), cable television (Singapore Cable Vision), distribution of telecommunications equipment (TeleChoice International) and research facility for IT and telecommunications companies (TeleTech Park). Through STT International, the company has established a strong presence in China. Its China GSM network covers major cities in Szechuan province and has about 52,000 subscribers to date. STT's nationwide paging network, a joint venture with China Unicom China Unicom, full name China United Telecommunications Corporation, 中国联通, HKSE: 0762 NYSE: CHU, is a telecommunication operator in the People's Republic of China. 52. , covers 21 Chinese cities and boasts two million subscribers. STT is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Singapore Technologies group, a multinational conglomerate headquartered in Singapore with interests in Engineering, Technology, Infrastructure & Logistics, Property and Finance. About stt.com Started in November 1999, stt.com is a wholly owned subsidiary of Singapore Technologies Telemedia. stt.com's vision is to be the new Networked eBusiness infrastructure company providing IP centric services across major Asia-Pacific cities and beyond. Its mission is to help companies in Asia fully exploit the power of the Internet and better compete in the Net Economy. stt.com offers a full suite of e-commerce services including horizontal web applications, portal/e-business consulting, WebCentres, IP-based Virtual Private Network (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ), IP telephony products and services, and IP Exchange services. To date, stt.com has established Singapore and Hong Kong as its super hubs and opened a third Internet WebCentre in Thailand. In March, STT signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) with Astra Graphia, a subsidiary of the Astra Group to open a WebCentre and logistic centre in Indonesia. A MOU was also signed with the Renong Group to set up a 100-acre Free Trade Area e-Facility in Malaysia. About Asia Global Crossing Asia Global Crossing is a partnership among Global Crossing (Nasdaq: GBLX), Softbank (Tokyo Stock Exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. : 9984), and Microsoft (Nasdaq: MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ) created to provide the Asia Pacific region with a full range of integrated telecommunications and IP services. Through a combination of high-capacity city rings, terrestrial systems, and undersea cables, Asia Global Crossing is building the first truly pan-Asian network that will provide the Asia Pacific region with unprecedented access to a broadband, seamless global network. Advanced IP-based telecommunications services include state-of-the-art telehouses, complex web hosting, and electronic commerce, as well as low-cost, high-quality telephony in competition with local incumbent carriers. Assets of Asia Global Crossing include a 64.5 percent share of Pacific Crossing-1, a subsea system connecting the US and Japan, and ownership of East Asia Crossing, a 17,000-km fiber optic subsea system that upon completion will link Japan, Taiwan, Korea, Hong Kong, Singapore, Malaysia, the Philippines, and China, as regulations permit. About Global Crossing Global Crossing Ltd. (Nasdaq: GBLX) 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 business, and its customers include many of the largest and most densely trafficked sites on the Web. Asia Global Crossing, a partnership among Global Crossing, Microsoft Corporation (Nasdaq: MSFT), and Softbank Corp. (Tokyo Stock Exchange: 9984), is building the first pan-Asian broadband IP network to provide broadband and Internet services to the Asia-Pacific region. Global Crossing's operations are headquartered in Hamilton, Bermuda, with principal offices in Los Angeles, California; London, England; Morristown, New Jersey Morristown is a town in Morris County, New Jersey, United States. As of the United States 2000 Census, the town population was 18,544. Its estimated population in 2004 was 18,842. It is the county seat of Morris CountyGR6. ; Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or ; and Miami, Florida. Visit Global Crossing at www.globalcrossing.com on the Web. About GlobalCenter GlobalCenter Inc. is a subsidiary of Global Crossing Ltd. (Nasdaq: GBLX). As a leading Internet services business, GlobalCenter delivers the only integrated Internet solution designed for scale in the global "e"conomy. By seamlessly integrating its proprietary infrastructure, applications and complex Web hosting, GlobalCenter provides customers the Internet infrastructure necessary to manage complex online enterprises. GlobalCenter's customers include many of the largest and most densely trafficked sites on the Web. Global Crossing, GlobalCenter's parent company, is building, and offering services over, the world's first global fiber optic network, which will have more than 101,000 route miles, serving five continents, 27 countries and more than 200 major cities. For more information, contact GlobalCenter at www.globalcenter.net or Global Crossing at www.globalcrossing.com. Statements made in this press release that state Asia Global Crossing's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Asia Global Crossing's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of telecommunications regulation in Asia, the United States, and other regions and countries; changes in business strategy; the successful integration of newly-acquired businesses; and the impact of technological change. |
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