Cable & Wireless' Don Reed is New Chairman of the Board of European-American Business Council.

WASHINGTON--(BUSINESS WIRE)--Sept. 29, 1999--

The Board of Directors of the European-American Business Council (EABC) today elected Donald B. Reed, CEO of Regional Businesses for Cable and Wireless plc, as its new chairman.

Reed, who was elected to a two-year term, succeeds former President and CEO of ABB Inc., Peter Janson. Janson served briefly as EABC Chairman this year, resigning in March after accepting a position outside of ABB. Count Peder Bonde, the former chairman of Investor International and Janson's predecessor as EABC Chairman, served as EABC Chairman in the interim.

"As chairman, I intend to preserve and build upon the EABC's ability to bring together business representatives and officials from both sides of the Atlantic to address difficult issues," said Don Reed. "I thank Count Bonde for his unflagging devotion to the organization and its mission and the high standards he has set as chairman."

The EABC is a unique alliance of European and American companies. It is the one transatlantic business organization that provides actionable information and advocacy services on government policies that directly impact the economic well being of its members.

Through an array of timely publications and sponsored activities, the EABC acts as a watchdog, enabling its 80 member companies to anticipate, monitor, and intelligently guide their own policies and business activities. Independent of any government, the EABC uses the collective strength and size of its membership to ensure that its members are heard by US and European policymakers.

"We are extremely pleased that Don Reed will be our new EABC Chairman and look forward to working with him," said Count Bonde. "Having a chairman of his caliber will allow us to further strengthen our organization and maintain a leading role on transatlantic trade, tax and investment issues."

EABC President Willard M. Berry added, "As we enthusiastically welcome Mr. Reed, EABC members and staff also wish to express our profound appreciation to Count Bonde and sincerely hope that he will remain active in the organization. The recent success of the EABC is attributable in very large measure to his leadership."

Since June 1999, Don Reed has served as the Chief Executive Officer for Regional Businesses of Cable & Wireless. He is an Executive Board Member and has responsibility for much of Cable & Wireless' international business, engineering services and customer services.

Prior to joining Cable & Wireless in 1998, Mr. Reed was President and Group Executive of NYNEX. He continues to serve as a Commissioner of the Global Information Infrastructure Commission and is Co-Chair of its policy task force. Mr. Reed has over 30 years of experience as a telecommunications executive. He graduated from Virginia Military Institute in 1966 and served a tour of duty in Vietnam as a US Army Officer with the 82nd Airborne and First Infantry Divisions.

With customers in 70 countries, Cable & Wireless (NYSE:CWP) is a major global telecommunications business with revenue of around $13 billion in the year ended March 1999 and over 50,000 employees. Its businesses around the world offer a range of services spanning broadband data and Internet access, fixed and mobile voice, as well as interactive entertainment and information.

Cable & Wireless' priority for expansion is the fast growing market of data and IP (Internet Protocol) services for business customers.

Since November 1998, it has announced major investments in advanced networks in the US and Europe, the restructuring of Cable & Wireless Communications in the UK and has acquired full control of Cable & Wireless IDC in Japan to support this strategy. Cable & Wireless now holds a unique position in terms of global coverage and services to business customers.

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