Shaw Enlists 360networks

Signs $170 M agreement

March 22, 2000

1 Min Read

Vancouver, B.C. and Calgary, Alberta--360networks inc. (formerlyWorldwide Fiber Inc.) and Shaw Communications Inc. announced today that they haveentered into a broad-ranging agreement.

Under the agreement, 360networks will provide over Cdn. $250 million (U.S. $170million) of high-speed bandwidth network services and dark fiber to Shaw. In addition,Shaw will make an equity investment of U.S. $100 million in 360networks.

“We are delivering on our commitment to provide our customers faster Internetaccess,” said Jim Shaw, President and CEO of Shaw Communications. “This networkwill serve as the national platform for our broadband Internet services, and interconnectour high-capacity video servers across Canada.”

“Shaw is a leader in providing broadband Internet access in Canada, and we areexcited to be the provider of Internet backbone to them,” said Greg Maffei, CEO of360networks. “Shaw typifies the customer who can benefit from the advanced networkarchitecture and breadth of services of 360networks.” 360networks will provide Shawup to four OC-48 channels between Vancouver and Toronto, capable of collectivelytransmitting data at up to 10 gigabits per second. 360networks will also provide Shawmore than 12,000 kilometers of dark fiber on two routes between Vancouver andHalifax, which includes three network rings connecting Vancouver, Edmonton andCalgary; Edmonton, Toronto, Detroit, Chicago, Minneapolis, Winnipeg; and Toronto,Ottawa and Montreal. These network products and services will be provided by 360networks over a three-yearperiod and will replace a portion of the capital expenditure program previouslycontemplated to meet Shaw’s growing demand for broadband, Internet backbonecapacity. The U.S. $100 million investment will be funded from proceeds derived fromthe continuing monetization of Shaw’s portfolio of investments.

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