VANCOUVER -- 360networksCorporation announced today that its plan of reorganization has becomeeffective and it has successfully emerged from Chapter 11 protection in theUS and CCAA protection in Canada.During its restructuring, 360networks completed the lighting of its US and Canadian footprint, successfully grew its monthly recurring revenue from lit services, including wavelengths and private lines, and dramatically reduced its monthly recurring expenses. 360networks will emerge with more than US$100 million of cash and US$215 million of bank debt (reduced from the Company's pre-filing debt level of approximately US$2.7 billion). Given itsstrong liquidity position, the Company's business plan does not anticipate requiring additional capital prior to its debt maturing in five years. "We are excited to move past the restructuring phase and focus ondelivering our advanced service offerings to our customers," said GregMaffei, 360networks' chief executive officer. "We are well funded,optimistic about our position, and are anxious to take part in the on-going reshaping of the telecommunications industry."With emergence, Greg Maffei will become chairman and CEO and Jimmy Byrd will become president. The Company's new board of directors will consist of: