Cogent Celebrates Dual Milestones: Connects 1,000th Node in 1,000 Business Days and Celebrates 4th Anniversary of the Lighting of Its Fiber Optic Network
WASHINGTON, D.C., December 03, 2004 - Cogent Communications Group, Inc. (AMEX: COI), one of the fastest growing Internet service providers in the industry, announced today that it has directly connected the 1,000th on-net building to its state-of-the-art network, at 53 State Street, the heart of Boston's financial center. Cogent has achieved this milestone within 1,000 days of connecting its first node and during a month in which it is also celebrating the fourth anniversary of lighting its fiber optic network – one that is owned and operated by Cogent and runs completely autonomously from any other carrier.
In just four years since lighting its fiber optic backbone, Cogent has grown to serve over 5,000 business customers. This represents approximately 8% of all U.S. Internet traffic, based on a comparison of data with the Digital Technology Center at the University of Minnesota. Cogent's first customers were early adopters, eager to take advantage of the benefits of an all IP network with large amounts of bandwidth at dramatic price reductions. Cogent was the first commercial optical IP-only network in existence, and today it remains among one of the most robust and largest IP data-only networks in existence.
"We look forward to having Cogent's presence in 53 State Street," said Dan Kindbergh, Brookfield Financial Properties. "Based on their success at some of our other properties Cogent has demonstrated to us and to the market that they deliver value by providing businesses with high quality bandwidth at very competitive prices. This translates into an attractive service that we want to promote to both our existing and prospective tenants."
"53 State Street is a perfect example of the type of building that Cogent likes to connect to our network. It's significant in size, has a mix of clients ranging from small organizations to large enterprises and it is owned by Brookfield Properties, an owner that demonstrates a commitment to providing tenants with the latest technology and services at a cost-effective price," said Dave Schaeffer, CEO Cogent Communications. "Reaching these milestones simultaneously really puts all of Cogent's accomplishments into perspective. I do not think any other ISP has accomplished as much as we have in the same amount of time."
During the past four years, Cogent constructed its own 21,000 mile fiber optic IP network spanning 11 countries on two continents. The ISP established a peering program to interconnect with approximately 650 other ISP networks making it the 6th most robust internetworking program on the Internet. (Peering is advantageous as it reduces network costs and speeds up the delivery of data traffic to its destination through the establishment of direct connections with other networks.) Its strategic growth strategy also resulted in Cogent acquiring 12 other communication companies, adding customers, network and critical equipment at a fraction of the cost it took to build them.
About Cogent Communications
Cogent Communications (AMEX: COI) is a next generation, multinational, Tier 1 ISP. Its facilities based, all-optical network delivers ultra-high speed Internet access and transport services to business and service providers in major metropolitan areas across North America and Europe. Since opening its doors in 1999, Cogent's elusive combination of high quality, reliable, low cost bandwidth and superior customer support have enabled Cogent to become one of the fastest growing ISPs in the industry. Cogent was recently ranked as the number one fastest growing company in 2004 by the Washington Business Journal.
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Information in this release may involve expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Cogent Communications Group, Inc. as of the date of the release, and we assume no obligation to update any such forward-looking statement. The statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Some of the factors and risks associated with our business are discussed in Cogent's registration statements filed with the Securities and Exchange Commission and in its other reports filed from time to time with the SEC.