Asia Global Crossing, IRI to Form Joint Venture

TOKYO (01/26/2000) - Asia Global Crossing Ltd., which is building a regional undersea fiber optic cable network, and Internet Research Institute Inc., a Japanese Internet consultancy, will tomorrow announce the formation of a new joint venture, the companies announced today.

The announcement will be made in Tokyo at 1:30PM.

Asia Global Crossing is a joint venture of Global Crossing Ltd., Microsoft Corp. and Softbank Corp. In addition to operating the Pacific Crossing 1 cable, which links Japan and the U.S. and was partially lit in late December, the company is also planning a cable to connect nations in the region [See "Asia Global Crossing Ties Pacific, Japan Fibers," Dec. 21, 1999]. The East Asia Crossing cable will link Japan, China, South Korea and Taiwan and the first stage is expected to enter service late this year [See "East Asia Crossing Fiber Contract Awarded," Dec. 24, 1999].

Internet Research Institute Inc. is one of Japan's hottest Internet companies at present. It's staff include some of the most famous names in the Japanese Internet industry and stock in the company has been a hot property since debuting on the Tokyo Stock Exchange's Mothers market in December [See "Tokyo Stock Market for Start-ups Opens With a Bang," Dec. 22, 1999].

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