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Crosswave Announces the Establishment of Crosswave Communications America.

TOKYO, Sept. 18 /PRNewswire/ --

Crosswave Communications Inc. ("Crosswave")(Nasdaq: CWCI) today announced that it will establish a U.S. based subsidiary, Crosswave Communications America, Inc. on October 2, 2000.

The new subsidiary will manage business related to maintenance of Crosswave's Japan-U.S. transmission lines.

The Chairman of Crosswave Communications America will be Koichi Suzuki and the President will be Yasuharu Fushimi. The initial capitalization is US$2 million and it is a wholly-owned subsidiary of Crosswave Comunications Inc.

About Crosswave

Crosswave Communications Inc. (Crosswave) offers broadband data communication services on Japan's first nationwide fiber-optic network specifically designed and dedicated to data traffic. Crosswave was established in October 1998, by Internet Initiative Japan Inc. (IIJ), Sony Corporation and Toyota Motor Corporation with the goal of providing advanced, high-speed, cost-effective, end-to-end data communications services to customers in Japan and to take advantage of market growth and demand for broadband data communications networks.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.
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Publication:PR Newswire
Date:Sep 19, 2000
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