- Skid Heyworth III noted the below newswire:
-
- Copyright 2000 PR Newswire Association, Inc.
- PR Newswire February 16, 2000, Wednesday
- SECTION: FINANCIAL NEWS
- DISTRIBUTION: TO BUSINESS AND TECHNOLOGY EDITORS
- LENGTH: 854 words
- HEADLINE: Network Access Solutions Names New President & Chief Operating
- Officer; Seasoned Telecom Executive to Lead Company Through Next Phase of
- Development
- DATELINE: STERLING, Va., Feb. 16
-
- BODY:
- Network Access Solutions (NAS) (Nasdaq: NASC), one of the nation's
- leading broadband solutions companies, announced that Nicholas J. Williams
- has joined the company as president and chief operating officer. Mr.
- Williams will assume responsibility for all day- to-day operations reporting
- to Jon Aust, chairman and CEO.
-
- "Nick has had a tremendously successful 25-year career in the telecom
- and data communications field holding senior management positions with
- market leaders such as AT&T Paradyne, IBM and, most recently, as CEO of
- Premisys Communications," said Aust. "His in-depth industry knowledge,
- ability to successfully and aggressively execute business plans, and
- expertise at building customer-oriented companies makes him an outstanding
- addition to our management team as we complete the build-out of the nation's
- most extensive broadband DSL network."
-
- NAS will be expanding its network as part of a recently-announced
- strategic agreement with SBC Communications (NYSE: SBC) and Telefonos de
- Mexico (Telmex) (NYSE: TMX). Under the terms of the agreement, SBC and
- Telmex will invest $150 million in the form of a convertible preferred
- security to help fund expansion of NAS' network into BellSouth and US West
- territories. NAS will provide DSL service for SBC out of region. The
- companies also intend to enter into an agreement that gives NAS the ability
- to sell SBC Telecom services in areas where NAS operates. Together, SBC
- and NAS will create an unrivaled broadband network that will reach 90% of
- businesses and residences in the nation's top 50 markets.
-
- Prior to joining NAS, Williams, 53, held senior management positions
- with IBM Corporation, AT&T Paradyne, and Tellabs Corporation.
- Most recently, he served as president and CEO of California-based Premisys
- Communications where he led the company into a position of market leadership
- and profitability through the development of customer-oriented services and
- support.
-
- Before entering the private sector, Williams spent five years in the
- U.S. Marine Corps as a marine aircraft officer and an avionics division
- officer and aviator. He holds a B.S. degree in operations analysis from the
- U.S. Naval Academy.
-
- "I am extremely pleased to have the opportunity to work with such a
- dynamic, market leader," said Williams. "I believe the broadband services
- industry represents one of the hottest sectors for growth during the next
- decade because we're building the infrastructure for the New Economy. I'm
- looking forward to playing a key role in the evolution of this industry at
- NAS."
-
- About NAS
- Network Access Solutions (NAS) is one of the nation's leading broadband
- solutions companies. Founded in 1995, the company currently provides an
- expansive portfolio of Digital Subscriber Line (DSL) and broadband
- networking services in the Bell Atlantic region. The Bell Atlantic region
- is home to 35% of the world's data communications traffic and the densest
- collection of businesses in the U.S.
-
- NAS gives customers access to a deep DSL network footprint and a robust
- broadband services "bundle" which includes network consulting, integration,
- management and security services. NAS' hallmark DSL service -- CopperNet(R)
- -- provides high-speed, "always on" local, metropolitan and wide-area
- connectivity. CopperNet is a seamless, cost-effective replacement for
- traditional T-1 and ISDN lines, and can save companies of all sizes as much
- as 70% in local facilities expenses, depending upon their requirements. The
- NAS network supports traditional and packet-based services such as ATM,
- frame relay, and IP.
-
- For more information, visit the company's web site at
- http://www.nas-corp.com.
-
- This press release contains forward-looking statements within the
- meaning of Section 27A of the Securities Act of 1933, as amended, and
- Section 21E of the Securities Exchange Act of 1934, as amended. These
- statements are subject to a variety of risks and uncertainties, many of
- which are beyond the Company's control, which could cause actual results to
- differ materially from those contemplated in these forward-looking
- statements. In particular, the risks and uncertainties include those
- described under "Risk Factors" in NAS' June 1999 IPO Prospectus, which
- include, among other things, (i) the Company's ability to successfully
- market its services to current and new customers; (ii) the extent of
- increasing competition; (iii) trends in regulatory, legislative and judicial
- developments; and (iv) the Company's ability to manage growth of its
- operations. Existing and prospective investors are cautioned not to place
- undue reliance on these forward-looking statements, which speak only as of
- the date hereof. The Company undertakes no obligation to update or revise
- the information contained in this press release, whether as a result of new
- information, future events or circumstances or otherwise.
-
- SOURCE Network Access Solutions
- CONTACT: Debra Arrington of Network Access Solutions, 703-481-7529
- URL: http://www.prnewswire.com
- LANGUAGE: ENGLISH
- LOAD-DATE: February 17, 2000 Nic
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