Primus Awarded Full Carrier License in Australia - Expects Equal Access to Begin in July -
The license allows Primus to have full ownership of long distance, international, and local telecommunications transmission facilities, including switches, domestic long distance and local fiber optic cable facilities, and international fiber optic cable and satellite facilities.
"The granting of this license means that Primus can now offer the same full range of telecommunications services as those offered by Telstra and Optus, the two largest Australian carriers," said K. Paul Singh, Primus's chairman and chief executive officer.
Primus also announced that Telstra will begin the process of implementing equal access for Primus customers country-wide beginning in July and continuing over the next several quarters. Under equal access, customers will no longer have to dial a four-digit access code to use Primus's services. Once customers are converted to equal access, their long distance traffic will be carried "on-net" over Primus's own network.
Primus is a multinational telecommunications company that focuses on the provision of international and domestic long-distance services. Founded in 1994 and headquartered in Vienna, Virginia, the company now has more than 100,000 customers, located primarily in North America, Europe and the Asia-Pacific region, and focuses on providing telecommunications services to corporate, small- and medium-sized business with significant international long distance traffic and ethnic residential customers, as well as, on a wholesale basis, to other telecommunications carriers and resellers with international traffic.
Investors are cautioned that certain statements in this press release are "forward-looking" statements that are based on current expectations. Such statements may differ materially from actual results. Forward-looking statements include, without limitation, those regarding management's expectations concerning the offering of a full range of telecommunications services and the implementation, including the timing thereof, of "equal access." Among the factors that could cause actual results to differ materially from that which is set forth herein are risks associated with (i) the development of the network and migration of traffic onto the network, (ii) managing rapid growth, (iii) international operations, (iv) the Company's limited operating history, (v) changes in the telecommunications industry, (vi) dependence on transmission facilities-based carriers, (vii) competition, (viii) regulatory risks, (ix) the need for additional financing, (x) the general economies where the Company operates, (xi) changes in service offerings and (xii) dependence upon effective information systems.
SOURCE Primus Telecommunications Group, Incorporated
/CONTACT: Neil Hazard, Executive Vice President of Primus Telecommunications Group, 703-902-2800; or Investors - Jordan Darrow, Media - Judith Sylk-Siegel, or General - Jeff Bogart, of The Financial Relations Board, 212-661-8030/
CO: Primus Telecommunications Group, Incorporated ST: Virginia IN: TLS CPR FIN SU: LIC
KS -- NYW085 -- 6948 07/09/97 14:09 EDT http://www.prnewswire.com
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 9, 1997|
|Previous Article:||Fitch Affirms J.P. Morgan $268.1M Pass-Thrus 1996-C3 'AAA' - Fitch Financial Wire -|
|Next Article:||S&P Rates Security Capital Industrial Trust's $100M Notes BBB+|