Con Edison Communications, Exelon & Energy East Join NEON Communications Board.Business/Technology Editors WESTBOROUGH, Mass.--(BUSINESS WIRE)--Nov. 10, 2000 NEON(R) Communications, 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 :NOPT NOPT No Procedure Turn Required NOPT Nucleo Operativo di Polizia Delle Telecomunicazioni ) announces the addition of three new members to its Board of Directors: Peter A. Rust, President and 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. of Con Edison Communications, Inc. Robert A. Shinn, Vice President and Managing General Partner, Exelon Capital Partners Michael I. German, Senior Vice President for Growth and Business Development, Energy East Corp., President and CEO of EAS (Electronic Article Surveillance) A security system for preventing theft in retail stores that uses disposable label tags or reusable hard tags attached to the merchandise. Enterprises. Peter Rust is President and CEO of Con Edison Communications (CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. ), 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 Consolidated Edison, Inc. CEC is a facilities-based wholesale provider offering a suite of telecommunications services over its own fiber optic network currently being deployed in the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. metropolitan area. Con Edison Communications' focus on the last mile will enable retail providers to offer broadband services into over 1,000 buildings in the next few years. Mr. Rust has over 21 years of experience in the telecommunications and computer industries, including numerous positions at Hewlett Packard, and NYNEX/Bell Atlantic where he served as Managing Director of NYNEX's Enterprise Markets from 1995-97, and as Vice President of Operations for Bell Atlantic's subsidiary, Internetworking and Multimedia Solutions, Inc. Robert Shinn is Vice President and Managing General Partner of Exelon Capital Partners, a corporate venture capital group that helps entrepreneurial companies capitalize on opportunities created by utility deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. . The business is organized as part of Exelon Enterprises, a division of Exelon. Mr. Shinn oversees investments in leading-edge energy and communications companies and plans to invest $300 million in new business ventures over the next five years. Previously, Mr. Shinn was Vice President Business Development and Strategic Planning for PECO PECO Países da Europa Central e Oriental (Portugal) PECO Philadelphia Electric Company PECO Public Education Capital Outlay PECO Pelagic Cormorant (phalacrocorax pelagicus) Energy's retail group, overseeing critical market research activities and developing new growth opportunities for the Company. Prior to joining PECO, Mr. Shinn held a number of private and public sector positions, including energy advisor to former Pennsylvania Governor Dick Thornburgh, Chief of the Development Division of the California Energy Commission The California Energy Commission is California’s primary energy policy and planning agency. Created in 1974 and headquartered in Sacramento, the Commission has responsibility for activities that include forecasting future energy needs, promoting energy efficiency through , and before that, Deputy Division Chief for Resource Development, U.S. Federal Energy Administration. Michael German is the Senior Vice President for Growth and Business Development for Energy East Corporation, which is a super-regional electric and gas distribution and transmission company. Mr. German sits on the boards of all subsidiary companies of Energy East. He also serves as President and CEO of EAS Enterprises, a diverse group of companies that provide peaking electric generation, energy marketing, distributed steam services, construction and utility services, and owns interests in intra/interstate pipelines, gas storage and telecommunications assets. Mr. German is Vice Chairman of the New York Gas Group. Prior to Energy East, he was President and COO of New York State Electric Gas Corporation. He has also served as Senior Vice President of the American Gas Association, and was formerly with the U.S. Department of Energy in the Energy Research and Development Administration The US Energy Research and Development Administration (ERDA) was a Government organization formed from the split of the Atomic Energy Commission in 1975. It assumed the functions of the AEC not assumed by the Nuclear Regulatory Commission. . NEON consummated alliances with CEC and Exelon in September of 2000 that will allow expansion of the NEON network throughout the metropolitan areas of New York City and Philadelphia, using the rights-of-way of the two utilities in their respective metropolitan areas. NEON is a "carriers' carrier" providing high bandwidth fiber optic capacity and comprehensive end-to-end communications solutions to communications companies on an inter-city, regional and metro network in the eleven-state Northeast and Mid-Atlantic states. NEON is a registered trademark of NEON Communications, Inc. (NOTE: This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including but not limited to, statements concerning future plans for expansion and completion of the NEON system. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated, including those risks detailed in the section entitled "Risk Factors" and elsewhere in the Company's Registration Statement on Form S-3 (FileNo. 333-34234), Annual Report on Form 10-K for the year ended December 31, 1999, and subsequent filings with the Securities and Exchange Commission, and should be read in light of these risks. The Company assumes no obligation to update the information contained in this news release.) |
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