"We chose TyCom as our capacity supplier because the TGN global footprint will be extensive, and TyCom's technological leadership is well-known within the industry," said C. Sivasankaran, controlling shareholder of DishnetDSL. "This represents a first step in our plans to offer competitively priced point-to-point global connectivity, working towards a "One World, One Price" mission. These advantages and others will ensure that we will be able to offer the best services to meet the business needs of our customers."
"This capacity sale on the TyCom Global Network is a significant addition to our business," said Neil Garvey, President and CEO of TyCom. "Our deployment of the TyCom Global Network is proceeding on schedule, and we believe that TGN's combination of global reach, technical innovation, and flexible capacity offering have great value in the marketplace," he continued.
DishnetDSL, a part of the Sterling Infotech Group, is a leading broadband Internet Service Provider (ISP) in India, providing high-speed Digital Subscriber Lines (DSL) and access to customers in over 200 cities and towns throughout the country. DishnetDSL was incorporated in 1998 and has its headquarters in Chennai, India. Outside of India, DishnetDSL also operates out of Singapore and has plans to expand its operations to other Asian countries.
ABOUT THE TYCOM GLOBAL NETWORK
Phase 1 of the TyCom Global Network is designed to offer multi-terabit capacity upgradeable to a minimum of 2.56 terabits per second, span approximately 70,000 undersea kilometers and connect 30 major cities around the globe. TyCom plans to design and manufacture the undersea cable, optical amplifiers and terminal equipment, and plans to design, build and equip the global and regional network management centers, TelExchange centers and cable stations along the route. TyCom's own fleet of cable ships, one of the world's largest, will install and maintain the system.
ABOUT TYCOM LTD.
TyCom Ltd. (NYSE: TCM; BSX: TCM), with fiscal 2000 revenues of approximately $2.54 billion, is one of the world's largest providers of advanced broadband communications capacity, systems and services. TyCom is a leading fully integrated supplier of transoceanic fiber optic systems, is the recognized world leader in undersea technology development and application, and operates one of the world's largest fleets of cable ships. To meet growing demand, the Company is also deploying and selling capacity on the TyCom Global Network. TyCom's parent company is Tyco International Ltd. (NYSE: TYC; LSE: TYI; BSX: TYC). For more information on TyCom, visit www.tycomltd.com.
ABOUT TYCO INTERNATIONAL LTD.
Tyco International Ltd. is a diversified manufacturing and service company. Tyco is the world's largest manufacturer and servicer of electrical and electronic components; the world's largest designer, manufacturer, installer and servicer of undersea telecommunications systems; the world's largest manufacturer, installer and provider of fire protection systems and electronic security services, and the world's largest manufacturer of flow control valves. Tyco also holds strong leadership positions in disposable medical products, diagnostic imaging, bulk pharmaceuticals, wound closure, plastics and adhesives. Tyco operates in more than 100 countries and had fiscal 2000 sales of $28.9 billion.
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FORWARD LOOKING STATEMENT
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in the forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the timing of construction and the successful operation of the TyCom Global Network, changes in telecommunications technology, changes in demand for bandwidth capacity, receipt of necessary licenses and regulatory approvals, competitive factors in the undersea fiber optic cable industry and in the telecommunications industry generally, overall economic and business conditions, changes in the regulatory environment, the outcome of litigation, risks associated with conducting business in international markets, and other risks described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2000, filed with the SEC. TyCom is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.