July 7, 1999

 

FOR IMMEDIATE RELEASE

 

NTT Communications Corporation (NTT Communications) today signed a merger agreement and applied to the Minister of Posts and Telecommunications for permission to merge with NTT Worldwide Network Corporation (NTTWN).

1. Background
NTT Communications aims to strengthen competitiveness and enhance customerconvenience by consolidating domestic and international telecommunicationsservices.

2.Method of merger
NTT Communications will absorb NTTWN. After the merger, NTTWN will bedissolved.

3.Effective Date
October 1, 1999

4.Services after the merger
NTT Communications will take over all services currently provided by NTTWN.
A new international direct dialing telephone service, which NTTWN has been planning to begin operating via the 0033 prefix, will commence by NTT Communications from October 1999.




(Reference)

	NTT Communications	NTTWN
Title	NTT Communications Corporation	NTT Worldwide Network Corporation
Address	1-6, Uchisaiwai-cho 1-chome, Chiyoda-ku Tokyo	14-1,Nishi-shinbashi 2-chome,Minato-ku Tokyo 105-0003
Capital	72 billion yen	20 billion yen
Outline	Accompanied by the reorganization of NTT, NTT Communications started telecommunications businesses since July 1, 1999.	Service International ATM Service (October,1998) International Leased Circuit Service (December,1998) Internet Gateway Service (June,1999) Cable Network China-US Cable Network (December,1997 Sign C&MA*) Japan-US Cable Network (August,1998 Sign C&MA) TAT-14 Cable Network (September,1998 Sign C&MA) APCN2 Cable Network (June,1999 Sign MOU**)

*C&MA: Construction and Maintenance Agreement
**MOU: Memorandum of Understanding