NEW YORK, March 25, 2002 (PRIMEZONE) -- Exus Networks, Inc. (OTCBB:EXUS), a global provider of end-to-end telecommunications services, today announced that it has signed a Memorandum of Understanding (MOU) with Mirzo Ulugbek National University of Uzbekistan, the largest and most prestigious educational institution in the country and home to more than 10,000 students and 1,000 faculty members.
Under the terms of the agreement, Exus will connect the University's campus to Exus' global shared satellite network. This connectivity will bring high speed Internet access, communications technologies, and a multitude of educational resources to the bandwidth-starved country. Exus will also coordinate with the University to provide continuing education and distance learning resources to the University community, including developing Uzbekistan's first locally hosted, free email service -- similar in nature to what companies such as Yahoo! (Nasdaq:YHOO) and Microsoft (Nasdaq:MSFT) offer domestically. In addition, Exus and the University will jointly develop learning centers to accommodate large numbers of Afghan students seeking educational opportunities outside of Afghanistan.
The benefits of connecting the National University to Exus' satellite network will extend beyond campus boundaries. International organizations that seek to fund information technology projects in Uzbekistan, such as the United Nations Development Programme, NATO, the Soros Foundations Network, and TASIS, have previously sponsored the University's telecommunications network, which includes seven cities surrounding Tashkent, Uzbekistan's capital and the University's home. Having this network in place makes it possible for Exus to bring high speed internet connectivity to the entire region virtually overnight, without having to invest the capital or time it would ordinarily take to wire each city.
Located in the heart of Central Asia with a population of 24 million people, Uzbekistan leads the region in economic potential and geopolitical influence. Uzbekistan's border with Afghanistan and cooperation in serving as a base for U.S. military activities in Central Asia have brought the country global attention in the wake of September 11, 2001. The State Department announced recently that the United States will provide Uzbekistan with $160 million in assistance this year, a large percentage of which, will be allocated to education. Discussions for further assistance of up to several billion dollars are underway. Several high profile U.S.-Uzbekistan exchanges have also taken place this month, including a visit to Uzbekistan by nine U.S. Congressmen and Uzbek President Islam Karimov's meeting with President Bush in Washington.
Ike Sutton, Chairman and CEO of Exus, stated: "We are honored to be associated with Mirzo Ulugbek National University of Uzbekistan. Exus has been operating in the country for over four years with the vision of implementing the modern telecommunications infrastructure currently lacking. Our alliance with the National University and the world's recent interest in developing Uzbekistan's communications enables us to progress towards that vision and take advantage of our position as the only U.S. telecommunications company licensed to do business in Uzbekistan."
Professor Yousuf Musakhanov, Scientific Head of the Open Learning Center at the National University of Uzbekistan, added, "This is truly a momentous occasion in the history of the University. We have been very impressed with Exus' dedication to the development and growth of Uzbekistan. The communication and educational resources that our partnership will bring to the country will be a tremendous blessing."
About Exus Networks Incorporated
Based in New York, Exus Networks is a global provider of a broad array of value-added, satellite and terrestrially based communication services to a diverse client base that includes medium to large multi-national businesses, internet service providers (ISP's), and governmental agencies. Through service agreements and strategic relationships with satellite, teleport and terrestrial network operators and the Company's satellite gateway and data center in New York, Exus Networks benefits from the growing need for affordable, premium quality managed data networking services. This is particularly true in emerging markets, where Exus benefits from a first-mover advantage. Markets in which the Company is currently active include Poland, Ukraine, Kazakhstan, Uzbekistan, Greece and Cyprus. To learn more about the Company, please visit its Website at http://www.exus.net
The preceding includes 'forward-looking' statements which involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC.