NFON AG

Earnings Release • Aug 6, 2002

News Details

Corporate | 6 August 2002 18:49

Infonet Services Corp. english

AUCS Contract Almost Complete Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Infonet to Collect Incentive Fee and Approximately 200 Clients El Segundo, CA, August 6, 2002, Jose A. Collazo, Chairman, President and CEO of Infonet Services Corporation (NYSE/FSE: IN), reiterated today on a conference call that the Company’s contract to manage the business of the European ex- consortium, AUCS, is expected to terminate on October 1, 2002. ‘By the end of the contract,’ said Mr. Collazo, ‘our relationship with AUCS is expected to have provided Infonet more than $450 million in revenue. But as we wind this large contract down, falling revenue has created a drag on our top line, masking Infonet’s core growth.’ ‘Although our work is ongoing and the final figures are subject to audit, I expect Infonet to collect a substantial incentive fee from the contract,’ said Mr. Collazo, ‘which will positively impact EBITDA. In addition, we expect to transition approximately 200 former AUCS clients to the Infonet network.’ Mr. Collazo also said that Infonet might incur capital expenditures of no more than $5 million in connection with the transition of those clients. ‘This has already been factored into our cap ex budget for the year,’ he said. About Infonet Infonet Services Corporation, known for its quality of service, is a leading provider of value-added global communications services, including IP VPNs, for nearly 3,000 multinational enterprises. Employing a unique consultative approach, Infonet offers integrated solutions optimizing the complex relationship between enterprise applications and the global network. Extensive project management capabilities are the foundation for the services and solution offerings (broadband, Internet, intranet, multimedia, remote and local access, provisioning, application and consulting services) positioning Infonet as the ideal single-source partner for multinationals. In particular, Infonet IP VPN solutions offer multinationals a unique combination of Private and Public IP services as well as a full set of Managed Security Services. Rated ‘Best in Class’ overall in Telemark’s survey of Global Managed Data Network Services, Infonet has also won ‘Best Customer Care’ and ‘Best Carrier’ at the World Communication Awards. Infonet owns and operates The World Network (registered trademark), accessible from more than 180 countries, and provides local service support in over 70 countries and territories. Founded in 1970, Infonet’s stock is traded on the New York and Frankfurt Stock Exchanges under the symbol IN. Additional information about the company is available at www.infonet.com. Safe Harbor Statement: Infonet may have made forward-looking statements in this release. These statements, if any, are based on information available to the company as of the date of this release and Infonet undertakes no duty to update the information to take account of later events. The accuracy of our forward- looking statements will also be affected by the ongoing work Infonet is doing in connection with AUCS and the results of the final audit, strength of the market for Infonet products and services, competition, the timely transitioning of new business opportunities to Infonet’s network and the effect of currency fluctuation. Investors should bear these risk factors in mind as well as those elaborated on in Infonet’s 10-K, 10-Qs and other recent filings made with the U.S. Securities and Exchange Commission. These documents are available through the investor relations portion of Infonet’s web site at www.infonet.com. end of message, (c)DGAP 06.08.2002 ——————————————————————————– WKN: 931039; ISIN: US45666T1060; Index: Listed: Amtlicher Markt in Frankfurt, Freiverkehr in Berlin, Hamburg, München und Stuttgart 061849 Aug 02