ITXC's Wholesale Phone Service Surges with Carriers Worldwide; ITXC Routes Over One Billion Minutes of Phone Traffic from Carriers Located Outside of the U.S.Business Editors/Hi-Tech Writers PRINCETON, N.J.--(BUSINESS WIRE)--June 20, 2002 ITXC (Internet Telephony Exchange Carrier Corporation, Princeton, NJ, www.itxc.com) The largest IP exchange carrier in the world. ITXC was acquired by wholesale telco provider Teleglobe Bermuda Ltd. in 2004 and then by Videsh Sanchar Nigam Ltd. Corp. (Nasdaq: ITXC) has now routed more than one billion minutes of phone traffic originated by carriers outside the U.S. ITXC is the largest U.S.-based pure wholesale carrier of international phone calls. Since beginning commercial operations in April of 1998, ITXC has carried a total of more than four billion minutes of traffic including traffic originated by carriers in the U.S. For Q1 2002, 34% of ITXC's 658 million minutes of traffic originated outside of the U.S. Non-U.S. originated traffic grew 163% from Q1 2001 to Q1 2002. "We are extremely pleased with our relationship with ITXC," said Terje Haufmann, Director Trading Department, Telenor Global Services. "ITXC has enabled us to increase our margins with no capital investment on routes from Norway to international destinations around the world. ITXC also offers us the tier 1 quality that our customers rely on." Carriers located in international gateway hub cities like 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 and Los Angeles have long been able to take advantage of the most competitive international rates in the world. ITXC offers carriers located anywhere in the world competitive rates and tier one quality directly from carriers' own switches. ITXC collocates its SNARC(R) equipment on the premises of carrier customers and uses this equipment to connect these carriers to ITXC.net(SM) which is a managed Internet-based network serving more than 150 countries. This direct connection to ITXC.net gives carriers the immediate benefits of ITXC's high quality, low rates, and worldwide footprint for completion of international phone calls. There is no need for these carriers to invest in expensive backhaul circuits to international gateway cities in order to get competitive rates. SNARC equipment enables carriers to immediately enjoy the benefits of connecting to ITXC.net without having to spend additional capital. SS7/C7-enabled SNARCs are preconfigured Set up ahead of time. It implies that the device or software application has been modified to suit the customer or situation. See ghosting server. customer premise equipment (CPE (Customer Premises Equipment) Communications equipment that resides on the customer's premises. CPE - Customer Premises Equipment ) collocated with carrier switches by ITXC. They include everything needed to exchange traffic between traditional telephony switches and ITXC.net. SNARCs consist of IP telephony gateways as well as patented ITXC software for monitoring, routing, and remote control. All monitoring, maintenance, and configuration management of SNARCs are done remotely by ITXC 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 Princeton, NJ, U.S.A. ITXC carries phone calls around the world over ITXC.net for all of the major U.S. carriers, many non-U.S. incumbent carriers such as China Telecom, PLDT PLDT Philippine Long Distance Telephone Company , Telkom South Africa, Telenor, and Telia, emerging and existing competitive carriers worldwide, as well as a growing number of mobile carriers including China Mobile. Note to Media: To view a SNARC diagram or picture of ITXC's NOC, visit www.itxc.com/press/itxcdiagrams.html. For a white paper on "Bringing Global Markets to Your Premise with a SNARC", please visit www.itxc.com/whitepapers. About ITXC: In four years of operation, ITXC Corp. has become the largest U.S.-based pure wholesale carrier of international phone calls. The Company ranks among the top 15 carriers of any kind in the world based on minutes of international calling. ITXC's customers include all major U.S. carriers as well as leading carriers worldwide. Proprietary ITXC technology has made it possible to build a tier 1 quality call completion network, ITXC.net(SM), in 159 countries (as of May 31, 2002) using the Internet as its backbone. The efficiency of the company's business model means low prices, low capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. , and fast deployment for ITXC's carrier customers. ITXC customers are pleased by the fact that ITXC is EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become positive, has no net debt, and a balance sheet as strong as it is simple. ITXC is known as the essential off-net carrier taking calls to and from everywhere a carrier's own network doesn't reach. For more information about ITXC, please visit www.itxc.com. Forward-looking statements: ITXC has included in this press release certain "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. "Forward-looking statements" consist of all non-historical information and include the analysis of historical data in this release. Actual results could differ materially from those projected in the Company's forward-looking statements due to numerous known and unknown risks and uncertainties including, among other things, unanticipated technological difficulties, the volatile and competitive environment for Internet telephony, changes in domestic and foreign economic, market, and regulatory conditions, the creditworthiness Creditworthiness The condition in which the risk of default on a debt obligation by that entity is deemed low. Creditworthiness Eligibility of an individual or firm to borrow money. of our customers, uncertainty in legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. and other considerations described as "Risk Factors" in Exhibit 99.1 to the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001 and in other filings by the Company with the SEC. ITXC and SNARC are registered trademarks of ITXC Corp. ITXC.net is a service mark of ITXC Corp. All other trademarks mentioned in this document are the property of their respective owners. |
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