CellularVision to Change Name to SpeedUs.com; Network Configured to Provide Super High-Speed Internet in New York.NEW YORK--(BUSINESS WIRE)--Dec. 22, 1998--CellularVision USA, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CVUS) today announced that its Board of Directors unanimously agreed to change its name to SpeedUs.com, Inc. The name change is scheduled to take effect on or before January 7, 1999. The new NASDAQ symbol will be SPDE SPDE Service Provider Delivery Environment SPDE stochastic partial differential equation SPDE Solid Phase Dynamic Extraction SPDE Solar Plasma Diagnostic Experiment SPDE Spedus Corp (stock symbol; New York, NY) . The name change reflects the Company's exit from the subscriber television business and the dedication of its Metro New York Federal Communication Commission license to the Internet. The Company has built a new full-featured Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) and configured its broadband cellular network to deliver super high-speed Internet service in New York. The service will be marketed under the service mark SPEED(sm). The SPEED(sm) service uses a 48 Mbps (48,000 kbps) downstream SPEED(sm) modem, which has approximately 1,700 times the downstream capability of a standard 28.8 kbps modem. The Company's ISP and SPEED(sm) services are fully functional and are operating from its Network Operations Center See NOC. Network Operations Center - (NOC) A location from which the operation of a network or internet is monitored. Additionally, this center usually serves as a clearinghouse for connectivity problems and efforts to resolve those problems. (NOC (Network Operations Center) A central or regional location for monitoring a large network. Also called a "network management center" (NMC), "service management center" (SMC) or "network control center" (NCC), a NOC may be used to manage a large enterprise network, ) in the Brooklyn Army Terminal The Brooklyn Army Terminal consists of large complex of piers, docks, warehouses, cranes, railroad sidings and cargo loading equipment. The terminal was responsible for shipment of army equipment and personnel overseas. . The new ISP provides direct dial-up service for standard and ISDN modems, and the super high SPEED(sm) Internet access service. In addition to direct dial-up services for both standard and SPEED(sm) subscribers, the new ISP has web hosting and e-mail capabilities. The SPEED(sm) service requires the purchase and installation of the SPEED(sm) modem and signal availability. The SPEED(sm) modems are currently only available from the Company for $350. The signal coverage is currently limited to parts of Manhattan, Brooklyn and Queens. The Company plans to arrange financing for the cost of the modem to consumers and to increase its signal coverage area before commencing a major marketing campaign. Statements contained herein that are not historical facts, including but not limited to statements about the Company's product, corporate identity and focus, may be forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, the continuing development of the Company's sales, marketing and support efforts. All rights reserved. SpeedUs.com(sm) and SPEED(sm) are service marks of CellularVision USA, Inc. |
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