Metromedia Fiber Inks NYC Tenant Deal

MMFN to connect Rudin Management's NYC commercial properties

March 22, 2000

2 Min Read

NEW YORK--Metromedia Fiber Network (MFN) (Nasdaq: MFNX), the leader in deployment of optical Internet infrastructure within key metropolitan areas internationally, will provide direct fiber optic connectivity to all of Rudin Management Company's owned and managed commercial properties in New York City under an agreement between the two companies.

Implementation of the agreement, which has begun, further extends the reach of MFN's fiber optic infrastructure directly to commercial tenants. This high-capacity optical communications fiber is unshared and provides virtually unlimited bandwidth at a fixed lease cost, allowing Rudin's tenants to deploy the most advanced Internet, data, video, broadband and voice applications.

"Metromedia Fiber Network is unleashing the optical revolution for the commercial property owner," said Nick Tanzi, president and chief operating officer of Metromedia Fiber Network. "This agreement allows building owners and managers like Rudin to convert their commercial properties into 'e-buildings,' and provides them with strategic marketing tools to attract and retain quality tenants."

The agreement covers all 16 of Rudin Management Company's properties in Manhattan, encompassing more than 10 million square feet of commercial space. The Rudin properties range from 250,000 square feet to 1.6 million square feet and include the New York Information Technology Center at 55 Broad Street (www.55broadst.com) and the New York Global Connectivity Center (www.32sixth.com) at 32 Sixth Avenue.

"This agreement with MFN links their carrier-neutral backbone in the streets to our carrier-neutral onramp in our buildings," said Bill Rudin president of Rudin Management Company. "It accomplishes three important goals: our customers get multiple choices for carriers; telecom carriers gain a 'just- plug- in' architecture; and Rudin gets a managed riser system that can scale with time. The other important result is all of our properties become linked as a network that unleashes the power of e-commerce right to the desktop instead of stopping at the foundation wall."

"The Rudin family has been instrumental in helping change the old real estate maxim of 'location, location, location' to 'location, bandwidth, location,'" said Mark Pearlman, vice president of Market and Real Estate Development for MFN.

http://www.mmfn.com

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