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EXHIBIT 99.1
[GTS LOGO]
FOR IMMEDIATE RELEASE
ROBERT J. AMMAN NAMED CHAIRMAN, PRESIDENT AND CEO
OF GLOBAL TELESYSTEMS, INC.
LONDON - SEPTEMBER 19, 2000 - Global TeleSystems, Inc. (GTS) (NYSE: GTS; Easdaq:
GTSG; Frankfurt: GTS), the leading provider of e*Business and borderless
broadband services across Europe, today announced that Robert J. Amman has been
named Chairman, President and Chief Executive Officer of the company after the
resignation of H. Brian Thompson. Amman, who is based in London, has been
President and Chief Operating Officer of the company since March, 1999, and a
director of the company since May, 1998.
Commenting on the announcement, Thompson noted that, "Over the past 18 months,
Bob and I have successfully completed the initial objective set out for us by
the Board - to transform GTS from a loosely structured, emerging market telecom
holding company into a single, integrated pan-European operating company. We are
convinced that the next phase of the company's growth and success requires that
we appoint an experienced hands-on CEO who will lead the company from its
headquarters in Europe. Bob is uniquely qualified to undertake this challenge."
Amman noted, "During the past 18 months we have transformed the scale, product
breadth, and market focus of the company. In the first two quarters of 2000 we
have met consensus analyst estimates and we expect to meet consensus analyst
estimates for Q3 and Q4 2000. Additionally, the company expects to be EBITDA
positive in the first quarter of 2001. Based on current plans, which include a
$500 million cash capital program for 2001, we anticipate that we will require
approximately $250 million of additional financing to be fully-funded through
2001, and we have retained Lehman Brothers to explore financing alternatives."
ABOUT ROBERT J. AMMAN - Robert J. Amman has a proven track record as a hands-on,
turnaround and build executive. His career, which started at Bell Telephone
Laboratories, has been spent in the data processing, telecommunications and
financial services industries. In 1987, Mr. Amman managed an $850 million
recapitilization of Western Union Corporation concurrent with Western Union's
acquisition of ITT Worldcom. Following the recapitilization, which included $500
million of new financing, Amman became the President and Chief Executive Officer
of Western Union and led the transformation of the firm from an unprofitable
asset-intensive, domestic telecommunications company to a highly profitable,
marketing-driven, international consumer financial services company. In 1994, he
engineered the sale of Western Union to First Financial Management Corporation
("FFMC"). At FFMC he managed the Western Union, NaBanco, Telecheck, Nationwide
Credit and International Banking
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Robert J. Amman Named Chairman, President and CEO of Global TeleSystems, Inc.
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Technologies subsidiaries as Vice-Chairman and Chief Operating Officer until the
sale of FFMC to First Data Corporation in 1995. From 1995-1998, he was Chairman,
President and Chief Executive Officer of John H. Harland Company, the printing
services and database marketing firm.
ABOUT GTS (WWW.GTSGROUP.COM)
Global TeleSystems, Inc., is the leading provider of e*Business and borderless
broadband services across Europe, serving businesses and carriers with a range
of broadband, hosting, Internet/IP and voice services. As an industry leader in
Europe, the company has the largest cross-border fiber optic network; the
largest Tier-1 IP backbone (GTS Ebone); the most widely deployed pan-European
e*Business sales and service staff; and the largest pan-European customer base.
GTS's first and most extensive trans-European broadband fiber network includes
on-net points of presence in 38 European cities (50 cities planned) and
stretches across 17,500 route kilometres (25,000 route kilometres planned) with
six city enterprise networks (CENs) (16 CENs planned), providing intra-city
bandwidth. GTS is also developing an advanced trans-Atlantic dual-cable system
in a joint venture with FLAG Telecom. The company has its European operating
headquarters office in London; additional corporate offices in Washington, D.C.,
Brussels and Cork, Ireland; and sales and service operations in 20 countries.
CONTACTS
Jim Shields, Director, Investor Relations Phone: +44 (0) 207 769 8264;
fax: +44 (0) 207 769 8068; e-mail: jim.shields@gtsgroup.com
Patti Grohs, Senior Manager, Investor Relations
Phone: +1 703 236 3170; fax: +1 703 236 3606; e-mail: patti.grohs@gtsgroup.com
Olivia Harris, GTS Press Office
Tel.: +44 (0) 207 769 8295; fax: +44 (0) 207 769 8084; e-mail:
olivia.harris@gtsgroup.com
Christine Fisk, Noiseworks
Tel.: +44 (0) 1628 628 080; fax: +44 (0) 1628 779 999; e-mail:
christinef@noiseworks.com
THIS PRESS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS THAT INVOLVE RISK AND
UNCERTAINTY. ALTHOUGH THE COMPANY BELIEVES ITS EXPECTATIONS REFLECTED IN SUCH
FORWARD-LOOKING STATEMENTS ARE BASED ON REASONABLE ASSUMPTIONS, NO ASSURANCE CAN
BE GIVEN THAT SUCH PROJECTIONS WILL BE FULFILLED. ANY SUCH FORWARD-LOOKING
STATEMENT MUST BE CONSIDERED ALONG WITH KNOWLEDGE THAT ACTUAL EVENTS OR RESULTS
MAY VARY MATERIALLY FROM SUCH PREDICTIONS DUE TO, AMONG OTHER THINGS, POLITICAL,
ECONOMIC OR LEGAL CHANGES IN THE MARKETS IN WHICH GTS DOES BUSINESS; COMPETITIVE
DEVELOPMENTS; OR RISKS INHERENT IN THE COMPANY'S BUSINESS PLAN. READERS ARE
REFERRED TO THE DOCUMENTS FILED BY GTS WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION, SPECIFICALLY THE MOST RECENT REPORTS FILED UNDER THE SECURITIES
EXCHANGE ACT OF 1934 AND REGISTRATION STATEMENTS FILED PURSUANT TO THE
SECURITIES ACT OF 1933, WHICH IDENTIFY IMPORTANT RISK FACTORS.
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