Covad Extends Its DSL Network to Norfolk and Richmond Business and Home Users; Small Business and Home Users Can Enjoy Connections Up to 50 Times Faster Than 28.8K Modems.Business Editors &High-Tech Writers WASHINGTON--(BUSINESS WIRE)--Jan. 31, 2000 Covad Communications (Nasdaq:COVD COVD College of Optometrists in Vision Development COVD Covad Communications Group (stock symbol) ), the leading national broadband services provider utilizing digital subscriber line See DSL. (communications, protocol) Digital Subscriber Line - (DSL, or Digital Subscriber Loop, xDSL - see below) A family of digital telecommunications protocols designed to allow high speed data communication over the existing copper telephone lines between end-users and (DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary ) technology, today announced the availability of its DSL services in Richmond and Norfolk, Virginia Norfolk is an independent city in the Commonwealth of Virginia, in the United States of America. With a population of 234,403 as of the 2000 census, Norfolk is Virginia's second-largest incorporated city. . Total planned coverage will also include Bethia, Chester, Hampton, Hopewell, Mechanicsville, Midlothian, Newport News Newport News, independent city (1990 pop. 170,045), SE Va., on the Virginia peninsula, at the mouth of the James River, off Hampton Roads, near Norfolk; inc. 1896. , Petersburg, Princess Anee, Virginia Beach and Williamsburg. Covad's high-speed service will be available to both residential and business customers. Covad offers users a fast, always connected DSL line that eliminates the delays, busy signals, and non-connects typical with dial-up services. With data connections up to 50 times faster than 28.8K modems, Covad's TeleSpeed(R) service is a great solution for businesses. For home users, Covad's TeleSurfer(SM) service provides users with connections up to 25 times the speed of most dial-up solutions, providing a high-quality and widely available residential option for high-speed Internet access. Currently, Covad's services are available through Norfolk and Richmond-based 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. , VisiNet(R) (www.visi.net). Covad's services are also available through national ISPs such as CAIS CAIS - Common APSE Interface Specification Internet, Inc. (Nasdaq:CAIS)(www.cais.com) PrimusDSL (www.primusdsl.com) and UUNET (UUNET Technologies, Inc., Fairfax, VA, www.uunet.net) Founded in 1987, UUNET was the first commercial Internet service provider. Originally offering e-mail and news, it became a full Internet service organization providing dial-up and leased line accounts as well as archive space for (www.uunet.com). Covad's network will service over 600,000 homes and 60,000 businesses in the surrounding areas of Richmond and Norfolk. Providing seamless access to the Internet and corporate networks, Covad's DSL services give customers a dedicated and secure connection using the copper phone wires found in businesses and homes today. Because DSL is a high-speed connection that is always available, the need to dial in each time a user wants to browse the Internet or download email is eliminated. Customers are spared the waits commonly associated with dial-up access solutions. &uot;Covad is aggressively building its presence in the Norfolk and Richmond area,&uot; said Keith Markley, president of Covad's Eastern region. &uot;With the expansion of our DSL services in this region, small businesses and home users now have bandwidth options to meet their Internet demands. With DSL, the boundaries for media-rich content on the Internet are almost limitless.&uot; TeleSurfer service provides residential users privacy, flexibility and reliability advantages over the services offered through cable companies. Unlike cable companies that use a shared line between neighbors, a connection through Covad is dedicated to a single user through a point-to-point network. About Covad Covad is the leading national broadband services provider of high-speed Internet and network access utilizing Digital Subscriber Line (DSL) technology. It offers DSL services through Internet Service Providers, telecommunications carriers, enterprises, PC OEMs and ASPs to small and medium-sized businesses and home users. Covad services are currently available across the United States in 61 of the top Metropolitan Statistical Areas (MSAs) and are expected to be available in 100 MSAs by the end of 2000. At that time, Covad's network will reach more than 40 percent of all US homes and 45 percent of all US businesses. Covad Communications and its affiliates, doing businesses as Covad Communications Company, are wholly owned subsidiaries 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 Covad Communications Group, Inc. (Nasdaq:COVD). Corporate headquarters is located at 2330 Central Expressway, Santa Clara, CA 95050. Telephone: 888/GO-COVAD. Web Site: www.covad.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements, including but not limited to statements regarding the intention to deploy our network in new and existing MSAs, the timing and breadth of coverage in each MSA (Metropolitan Service Area) An urban area with at least 50,000 people plus surrounding counties. There are 306 MSAs and 428 RSAs (rural service areas) in the U.S. MSAs and RSAs are used to allocate cellular licenses. , and our ability to provide high-quality, media-rich content. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the company's dependence on incumbent local exchange carriers for collocation, unbundled network elements, transport and other facilities, development of necessary technologies and operations, ability to manage growth of our operations, and the need to raise additional capital. For other risks and uncertainties applicable to our business refer to the Company's Securities and Exchange Commission filings. |
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