|
|
SAN DIEGO, CA -- May 03, 2000 --The Titan Corporation (NYSE: TTN) today announced that Libercom (Liberty Communications), Titan's GSM mobile network in Cotonou, Benin has begun offering mobile wireless service. More than 3,300 subscribers who have obtained GSM handsets began using the network on Libercom's first day of commercial operation. The GSM network is part of a $60 million Build-co-Operate-Transfer agreement between the Office des Postes et Telecommunications (OPT), the national telephone company of Benin, and Titan Africa, a wholly owned subsidiary of Titan.
Libercom, the first company to offer digital GSM service in Benin, will offer service in Cotonou, the major port city of Benin, where approximately 15% of the country's six million people reside. In the near future, Libercom plans to offer national service that will enable users to roam in Benin as well as other countries offering GSM service. Per minute rates vary between $0.34 and $0.49 cents per minute depending upon monthly minutes of use and time of day. The Libercom network was deployed by Titan with the assistance of Alcatel, a worldwide supplier of telecommunications equipment. Sofrecom, a subsidiary of France Telecom is assisting with the marketing, sales, and customer acquisition efforts. President Matthew Kerekou, the Head of State, placed the first official phone call over the Libercom network. Ambassador Robert Felder, the U.S Ambassador to Benin, Mr. Barthelemy Agnan, Director General of the OPT, and numerous other dignitaries, joined Titan Chairman, President and CEO Gene Ray and Titan Wireless President and CEO Herb Bradley for the launch ceremony in Cotonou which was broadcast on television and covered by the national media.
Under the terms of the larger agreement between Titan Africa and the OPT, Titan Africa will build, co-operate, and ultimately transfer to the OPT a complete telephone system which includes the GSM network, a wireless local loop network in several mid sized cities, a fiber optic backbone transmission link, an Xpress Connection(TM) VSAT network to interconnect urban and rural communities, and the modernization of urban central telecommunications operations. In addition to revenues from the sale of equipment, which total approximately $60 million, Titan Africa will also receive up to 50% of the total net receipts earned on the project for up to a period of nine years. As a result of the launch of Libercom, the OPT has discontinued offering analog cellular service to that network's customers. Titan expects that Libercom will obtain more than 20,000 subscribers over the next few years.
"The launching of GSM service in Benin was an important milestone for Titan. First, it demonstrates our ability to integrate large, complex networks. Second, through our Benin project, the first where Titan will operate a national network, we have gained valuable experience as a telecommunications service provider," said Gene W. Ray, Chairman, President and CEO of Titan. "We look forward to expanding our service businesses to neighboring countries as we continue to build our presence on the African continent."
Headquartered in San Diego, California, The Titan Corporation creates, builds, and launches technology-based businesses, offering innovative technical solutions. Three of Titan's four core businesses develop and deploy communications and information technology solutions and services. In addition, Titan markets the leading technology for the electronic pasteurization of food products and is continually identifying promising technologies suitable for commercialization. The company has 5,400 employees, annualized sales of approximately $750 million and total backlog in excess of $1.6 billion.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, including our outlook on the future performance of our core businesses and our growth strategies, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, dependence on continued funding of U.S. Department of Defense programs, government contract procurement and termination risks, risks associated with acquiring other companies, including integration risks, and other risks described in the Company's Securities and Exchange Commission filings.
Investor Relations Contact: Rochelle Bold, VP Investor Relations (858) 552-9400
or invest@titan.com
Media Contacts: Wil Williams, VP Corporate Communications (858) 552-9724 or
wwilliams@titan.com
Please send any questions or comments about this web service
to webmaster@titan.com
Copyright © 2000 The Titan Corporation
All rights reserved.