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Financial

Universal Access, 360net Ink $25M Deal

CHICAGO and VANCOUVER -- Universal Access Inc. (NASDAQ: UAXS), a leading provider of network infrastructure services, and 360networks (NASDAQ: TSIX and TSE: TSX), a global provider of network services, today announced an initial agreement enabling both companies to provide more broadband network connections to telecommunications, Internet and application service providers in North America. The initial phase of the agreement is valued up to US $25 million. Upon completion of the initial phase, both parties have the opportunity to continue to expand their relationship. Today’s agreement will allow Universal Access to purchase capacity on 360networks’ global network. The long-haul connectivity provided on this network will enable Universal Access to provide its carrier customers with network services on major routes between its Universal Transport ExchangeSM (UTXSM) interconnection facilities.

“360networks and Universal Access are both industry pioneers with complementary services,” said Robert Pommer, Universal Access vice chairman and president of client services. “Universal Access’ unmatched expertise in rapid provisioning of high-speed circuits will accelerate 360networks’ ability to expand into key local markets. We believe that this is just the tip of the iceberg in forming a strong and ongoing relationship with 360networks.”

http://www.360.net
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