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FedEx Archives: 1999 Press Releases

( BW)(AZ-INTL-FIBERCOM)(IFCI)(FDX) International FiberCom To Install Copper, Wire Infrastructure at Federal Express World Headquarters; Recent Contracts for Concepts Subsidiary Total $10 Million

    Business Editors and High-Tech Writers

    PHOENIX--(BUSINESS WIRE)--Aug. 30, 1999--International FiberCom Inc. (Nasdaq/NM:IFCI) Monday announced that its Nashville, Tenn.-based Concepts in Communications subsidiary received a $2 million purchase order from Memphis, Tenn.-based Federal Express (NYSE:FDX) to install a copper and fiber infrastructure at the new Federal Express World Headquarters facility in Memphis.
    The project consists of eight multi-story buildings throughout a campus environment and includes the placement of large pair count copper cables along with single- and multi-mode fiber backbones. This contract follows the successful completion of a similar project at the Federal Express Tech Center Campus in Collierville, Tenn.
    According to IFCI Chairman & Chief Executive Officer Joseph P. Kealy, this purchase order is in addition to more than $8 million in systems integration services contracts awarded to Concepts over the past few months with such major entities and companies as the State of Tennessee, Caterpillar Financial, Nike and Gambro Healthcare, bringing the recent award total to more than $10 million.
    Concepts in Communications' services include design, installation and maintenance of structured cable systems, network hardware and software and workstations and related peripherals. The wholly owned subsidiary is a full-services systems integrator offering LAN/WAN hardware, network operating systems, file servers and workstations.
    Kealy commented, "The purchase order from Federal Express, as well as those contracts with other major entities, demonstrates the progress we are making in our strategy to capitalize on our core competencies in each of our 10 strategically-located wholly owned subsidiaries and to leverage our resources and personnel in our 35 U.S. locations to expand our geographic presence in the telecom, information and cable TV markets.
    "This is a further confirmation of our positioning as a one-stop source for a broad range of engineering, development and maintenance services for fiber-optic, broadband networks, public telephone networks, local and wide area networks and specialized wireless applications," Kealy continued. "It is also an excellent example of our ability to win business in areas that were not previously open to us. We look forward to Concepts continuing to contribute to both the top and bottom line."
    International FiberCom is a leading provider of a wide range of engineering, development and maintenance services for fiber-optic, broadband networks, public telephone networks, local and wide area networks and specialized wireless applications.
    With a number of recent strategic acquisitions that complement and enhance existing services and products, International FiberCom has positioned itself as a "one-stop shop" for the telecom and cable TV industries.

    This news release contains certain forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their very nature, include risks and uncertainties. Accordingly, the company's actual results could differ materially from those discussed in this release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. Such factors, many of which are beyond the control of the company, include the following: the company's success in obtaining new contracts; the volume and type of work orders that are received under such contracts; the accuracy of the cost estimates for projects; the company's ability to complete its projects on time and within budget; levels of, and ability to collect accounts receivable; availability of trained personnel and utilization of the company's capacity to complete work; the company's ability to complete proposed acquisitions and, upon their completion, to integrate the acquisitions into its organization and manage its growth; competition and competitive pressures on pricing; and economic conditions in the United States and in the regions served by the company. A more complete listing of cautionary statements and risk factors is contained in the company's report on Form 10-KSB for the year ended Dec. 31, 1998 filed with the Securities and Exchange Commission.

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     CONTACT:  Allen & Caron Inc
               Damon Wright (investors)
               Owen Daley (media)
               714/957-8440

     KEYWORD:  ARIZONA TENNESSEE
     INDUSTRY KEYWORD:  COMPUTERS/ELECTRONICS COMED TELECOMMUNICATIONS