Covad Introduces the Twin Cities to High-Speed Internet Access for Businesses and Homes.MINNEAPOLIS/ST. PAUL--(BUSINESS WIRE)--June 24, 1999-- Covad is the first to offer consumers an alternative to the local telephone company in the Minneapolis/St.Paul area Today Covad Communications (Nasdaq:COVD COVD College of Optometrists in Vision Development COVD Covad Communications Group (stock symbol) ), a leading provider of high-speed Internet See broadband. and network access, announced the availability of its 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 )-based services in the Minneapolis/St. Paul area. DSL technology allows for high-speed Internet access using the existing copper wires found in nearly all businesses and homes today. Once installed, Covad's TeleSpeed(R) and TeleSurfer(tm) offerings provide fast, digital communications Transmitting text, voice and video in binary form. See communications. services that connect businesses and consumers to their Internet Service Providers 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. (ISPs) and employees, who work at home, to their corporate networks. Covad has established strategic relationships with regional ISPs based in the Minneapolis/St. Paul region making it easy for businesses and consumers to order, install and manage their high-speed Internet access solutions made possible by DSL technology. Covad's services are currently offered through the local ISPs, ONVOY (www.onvoy.com), Advanced Telecommunications, Inc. (www.aticomm.com) and Integrated Network Technologies, Inc. (www.intxx.com). "Covad is the first to bring business and home users in the Twin Cities a high-speed connection to the Internet that is easier to order and install than through the local telephone company," said Bob Grant, president and general manager of Covad's Central region. "Internet users will be able to take advantage of secure, dedicated, 'always on' connections that free them from the hassles and frustrations of dial-up service." Covad's TeleSpeed(R) service provides data connections 50 times faster than 28.8K modems for businesses and Covad's TeleSurfer(tm) service provides home users with the highest quality and widely available residential option offering consumers up to 25 times the speed of most dial-up connections. These high-speed connections are secure, "always on" and always available. Thus, users no longer need to dial in each time they want to browse the Internet or download email, which eliminates delays, busy signals and non-connects. About Covad Covad Communications Company is a leading high-speed Internet and network access provider offering DSL services through Internet Service Providers to small- and medium-sized businesses and consumers, and sold directly to large enterprise customers. Covad's service is on-line in 14 regions currently encompassing 34 Metropolitan Statistical Areas. Service is available in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Los Angeles, Seattle, Sacramento, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Boston, Washington, D.C., Baltimore, Chicago, Philadelphia, San Diego, Atlanta, Detroit and the Minneapolis/St.Paul metropolitan areas. Covad has announced plans to deploy its networks in a total of 22 regions, encompassing 51 metropolitan statistical areas nationwide. Covad Communications Company and its affiliates doing business 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: 408/844-7500 or 888/GO-COVAD; FAX: 408/844-7501. 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 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: The statements contained in this release, which are not historical facts may be deemed to contain forward-looking statements, including, but not limited to, deployment of the Company's network in new and existing regions and the timing and breadth of coverage in each region. 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 strategic third parties to market and resell its services, intense competition for the Company's service offerings, dependence on growth in demand for DSL-based services, availability of collocation space and facilities, ability to manage and scale operations, and other risks and uncertainties detailed in the Company's Securities and Exchange Commission filings. The Company disclaims any obligation to update information contained in any forward-looking statement. |
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