RESTON, VA, June 5, 2001 - Velocita Corp., a nationwide broadband networks provider, today announced that it has selected Cisco Systems, Inc., the worldwide leader in networking for the Internet, to provide the optical and IP equipment to power Velocita's nationwide network.
"Velocita is pleased and excited to select the leader in networking as our vendor of choice to light our advanced data network and support our vision of providing the highest value optical network infrastructure and data services nationwide," said Buddy Pickle, CEO of Velocita Corp. "By joining with industry standard bearers such as AT&T, Koch Industries, and now Cisco, we are ensuring that our network will be built to the highest standards for present and future needs, as well as for the rapidly growing demand for value-added services and large amounts of bandwidth."
Velocita's Cisco Powered Network incorporates 144 strands of fiber, the ONS 15800 long haul DWDM System, the industry leading ONS 15454 Metro Optical Transport platform, the Cisco 7609 Internet Router, the Cisco 12400 series Internet Routers, as well as Cisco maintenance support, enabling advanced broadband services. Velocita is already implementing this equipment and plans an aggressive large-scale network deployment into 2002.
The Cisco Powered Network program recognizes service providers who provision end-to-end services with Cisco equipment and is designed to help member companies develop and market high-quality services. All Cisco Powered Network members agree to maintain high levels of network quality and customer satisfaction, as well as a minimum annual investment in Cisco equipment. As part of the program, Velocita and Cisco will work together on joint marketing, lead generation, and technology sharing activities to accelerate the success of Velocita's services.
"The selection of Cisco to light our network takes us one step closer to fulfilling our promise of providing the highest value optical network infrastructure and data services nationwide," said Don Bolar, Velocita's president of network services. "We are demonstrating our market leadership by building at a record pace for the industry, and more importantly building conveniently to and between our customers' sites. Velocita's service network routes through the core business districts, providing fast, economical and readily expandable access to our customers."
In 1999, Velocita originally won a contract to build AT&T's next generation optical network and was recently selected to build the second phase of AT&T's network, an affirmation of Velocita's on-time and on-budget track record. This expanded joint build agreement is serving as the foundation for Velocita's combined growth and expansion of its own network
About Velocita
Velocita Corp. (www.velocita.com), based in the greater Washington, D.C. area, is a nationwide broadband networks provider serving communications carriers, Internet service providers, and corporate and government customers. Founded in 1998 as a facilities-based provider of fiber optic communications infrastructure, Velocita is joining with AT&T to construct the nationwide next generation fiber optic network of the future. This joint effort is serving as the foundation for Velocita, formerly known as PF.Net, to grow and expand its own network, adding service offerings such as wavelengths, private line, Internet access and very high-speed virtual private networks. The Velocita network, currently expected to be substantially completed in 2002, will pass through 175 metropolitan areas including 40 of the top 50 MSAs, as well as most tier two and tier three markets.
Statements made in this document that are not historical fact are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the Company's ability to remain in compliance with its current debt agreements and indenture covenants; obtain additional capital and financing; effectively and efficiently manage the completion of its fiber network; and sell or swap dark fiber or lease high-volume capacity on its fiber network; and other factors, a failure of any of which may significantly delay or prevent completion of the Company's fiber network, which would have a material adverse effect on its financial condition and results of operations. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
