Cogent Communications Brings Its High Speed Internet Access to Canada
TORONTO, ON and WASHINGTON, D.C., November 7, 2002 - Cogent Communications Group, Inc. (AMEX: COI), a Tier One, next-generation optical ISP based in Washington, DC, announced today that it has opened its first office outside the United States in the central business district of Toronto, Ontario. Toronto will begin to receive high speed Internet access at the same price point offered in the United States except in Canadian dollars. For a flat monthly price of $1,000 CAD, commercial end-users in Toronto can enjoy a 100 Mbps dedicated, non-oversubscribed Internet access connection. Service Provider customers will also be able to enjoy significant cost savings under current market prices.
Service will be delivered by Cogent's wholly-owned subsidiary Shared Technologies of Canada, better known as STOC. Cogent acquired STOC through the acquisition of Allied Riser, its parent company, in the early part of 2002. Until now, STOC had primarily focused on voice-based services, but going forward, will focus on the significant opportunities in the data market in Toronto while continuing to support existing customers.
"Shared Technologies provides Cogent with a powerful combination of an existing customer base and buildings already constructed with fiber," said Dave Schaeffer, Chief Executive Officer of Cogent Communications. "The core focus in Toronto will be for Cogent to bring its value proposition of radically priced, high quality bandwidth to tenants located in large office buildings in the central business district."
"High speed Internet access is about to get really inexpensive in Toronto and Cadillac Fairview will be among the first companies to take advantage of it," stated Scot Adams, Senior Vice President and Chief Technology Officer of Cadillac Fairview, one of the first Canadian customers to sign with Cogent for high speed Internet access. "I visited Cogent's headquarters in Washington, DC last week and had the opportunity to test the network and tour the operations first-hand. I can now state that not only does the network live up to expectations, I was genuinely impressed at the level of detailed monitoring and surveillance. Cogent delivers with a higher quality service for lower costs."
Toronto is Canada's largest city and its corporate capital with more nationally and internationally top-ranked companies than any other Canadian city. It also is the largest office market in Canada and larger than many other major American cities, making Toronto a perfect addition to Cogent's 20 other markets currently being served with 100 Mbps and 1,000 Mbps service in the United States.
About Cogent Communications & Shared Technologies
Cogent Communications (AMEX: COI) is a Tier 1, facilities based, all-optical ISP focused on delivering ultra-high speed Internet access and transport services to businesses in the multi-tenant marketplace and to service providers located in major metropolitan areas across the United States. Cogent's signature service offered to commercial end-users of 100 Mbps for $1,000 per month, offers 100 times the observed bandwidth of a T-1 connection at approximately two-thirds of the cost. The Cogent solution makes ultra-high speed Internet access an affordable reality for small and medium-sized businesses, as well as large enterprises and service providers. Cogent's facilities-based, all-optical end-to-end IP network enables non-oversubscribed 100 Mbps and 1000 Mbps connectivity for radically low, unmetered pricing levels.
Shared Technologies, a wholly owned subsidiary of Cogent Communications, sells Cogent Internet services in Canada. Shared Technologies' signature service offered to commercial end-users is 100 Mbps for $1,000 per month, offering 100 times the observed bandwidth of a T-1 connection at up to two-thirds of the cost. This solution makes ultra-high speed Internet access an affordable reality for small and medium-sized businesses, as well as large enterprises and service providers. Cogent's facilities-based, all-optical end-to-end IP network enables non-oversubscribed 100 Mbps and 1000 Mbps connectivity for radically low, unmetered pricing levels.
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This news release contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, successful completion or expansion of the network, our connection to the Internet requires us to obtain and maintain relationships with other providers, our rights to the use of the dark fiber that make up our network may be affected by the financial health of our fiber providers, we often are limited in choices for metropolitan fiber suppliers and we will need to obtain or construct additional building laterals to connect buildings to our network. Additional general factors include competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.