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EXHIBIT 99.1
[IXC COMMUNICATIONS, INC. LOGO]
NEWS RELEASE
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IXC AND PSINET INK NATIONWIDE FIBER DEAL
PSINet acquires 14,000 miles of IXC's
technologically advanced coast-to-coast network
AUSTIN, TX - October 19, 1999 - IXC Communications, Inc. (Nasdaq: IIXC) and
PSINet Inc. (Nasdaq: PSIX) today announced an agreement for IXC to provide
PSINet with approximately 14,000 miles of fiber backbone on its coast-to-coast
fiber optic network. The fiber purchase enables PSINet to immediately access a
state-of-the-art nationwide network and extend their reach into the country's
top metropolitan markets.
Financial terms of the transaction were not disclosed.
For IXC, the agreement generates continuing revenues, allowing the company to
continue to expand its next-generation network while making efficient use of
excess fiber. For PSINet, the acquisition of a nationwide fiber network greatly
expands their potential customer-base and solidifies their position as a leading
Internet Service Provider (ISP).
"This agreement further strengthens the strategic relationship that IXC has
shared with PSINet over the past few years," said Mike Vent, president of IXC's
network services and information technology. "This is a great win-win
arrangement for both companies. PSINet obtains access to the industry's highest
performance fiber network and IXC has a contributing partner for growing its
rapidly expanding next-generation network."
Under the agreement, the exchange will occur in two phases. In the first phase,
during 1999 and 2000, PSINet will acquire fiber on approximately 14,000 miles of
IXC's network. The second phase of the contract, slated to begin in late 2000,
involves the sale of additional fibers on IXC's network. PSINet has also
contracted with IXC to provide operational maintenance and collocation.
"IXC's network is one of the most technologically advanced infrastructures in
existence today," said William L. Schrader, chairman, president and CEO of
PSINet. "This agreement will provide PSINet's customers with added capacity and
increased reliability as we enter a new millenium."
The fiber optics being deployed in all stages of IXC's network development
utilize state-of-the-art non-zero dispersion shifted fiber on secure rights of
way. IXC's fiber optic network supports the most advanced technology, including
dense wave division multiplexing (DWDM), which allows significant increases in
the speed and volume of information carried across the network. The OC-192
equipped network also supports a full range of advanced communications
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technologies, such as synchronous optical network technology (SONET), ATM and
frame relay, that support PSINet's Internet Protocol (IP) optimized network.
Headquartered in Herndon, VA, PSINet is a global facilities-based Internet
Protocol (IP) data communications carrier focused on the business marketplace.
As the first and largest independent commercial Internet service provider in the
world, PSINet offers a broad set of high-speed corporate LAN connectivity
services supporting managed security and guaranteed Internet, Intranet,
electronic commerce, Web hosting services, and services for other carriers and
ISPs. PSINet operates an international state-of-the-art frame relay and
ATM-based, IP-optimized network consisting of over 800 POPs around the world
serving primary markets in Argentina, Austria, Belgium, Brazil, Canada, Chile,
France, Germany, Hong Kong, Italy, Japan, Luxembourg, Mexico, the Netherlands,
Panama, Republic of Korea, Spain, Switzerland, the United States, and the United
Kingdom. PSINet information can be obtained by e-mail at info@psi.com, by
accessing the Web site at http://www.psinet.com or by calling toll-free in the
US 1-800-799-0676.
IXC's network-based delivery solutions are designed to address the speed and
capacity requirements of the global communications market. IXC offerings include
private line, fast packet (ATM and frame relay), Internet and long distance
switched and dedicated services. IXC Communications, Inc. is at the forefront of
the industry's new class of emerging domestic and international carriers. IXC is
a publicly traded company listed on Nasdaq under the symbol IIXC. For more
information, visit IXC's Web site at www.ixc-comm.com.
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IXC Media Contact: IXC Investor Contact:
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Melissa Jackson Greta Wiechman
Director, Marketing Communications Director, Investor Relations
(512) 231-5247 (888) 267-9478
mjackson@ixc-comm.com gwiechman@ixc-comm.com