Press Release: Maritime Telecommunications Network
January 3, 2001
MIRAMAR, FL -- Maritime Telecommunications Network, Inc. (MTN), the leader in maritime telecommunications and a
Verestar company, yesterday announced it has signed a 5-year agreement with Festival Cruises, Inc. Festival's next
two newbuilds, European Vision and European Dream, scheduled to be delivered from Chantiers de l'Atlantique in
France, in 2001 and 2002, will be equipped with MTN's telecommunications technology.
MTN will provide onboard telecommunications services via C-band service, providing voice, fax and data capabilities.
Additionally, MTN's complete maritime solution includes, but is not limited to providing phone cards, Internet
access, Automated Teller Machines (ATM's), Ocean Routes and Weather News. David Kagan, president and chief operating
officer of MTN, stated, ``We are pleased to see that Festival Cruises is incorporating all of the latest technology
aboard their new ships. We expect this relationship to reap great benefits for both Festival and MTN over the term
of the lease.''
Said Festival's vice chairman for technical and operations, Theodore Kontes: ``Our choice of MTN reflects Festival's
policy of selecting only the best in equipment for its vessels. The technology provided by MTN will further enhance
safety, operational efficiency and the level of service for passengers onboard Festival's new vessels.''
``We are also very glad that MTN showed the flexibility which has enabled us to enter a long-term agreement, reflecting
the relationship that Festival prefers to have with key suppliers. This gives us additional peace of mind, considering
our medium-term programme of building increasingly sophisticated ships such as European Vision and European Dream,''
added Mr. Kontes.
MTN and Festival Cruises expect to equip the ships in the coming months.
About Maritime Telecommunications Network
Maritime Telecommunications Network, Inc. (MTN), the leader in maritime communications, provides C-Band voice,
fax, data and Internet communications as well as Inmarsat services to the cruise and offshore industries, and the
U.S. Navy throughout the world. MTN also provides ship-to-shore live video and radio broadcast capabilities in
C- or Ku-Band. MTN is owned by its parent company Verestar, Inc., which is a wholly owned subsidiary of American
Tower Corporation (NYSE: AMT). More information is available at www.mtnsat.com.
About Festival Cruises, Inc.
Festival Cruises was the first pan-European cruise line. It currently owns and operates a fleet of three cruise
ships in addition to Bolero -- Mistral, Azur and Flamenco -- and offers a wide choice of cruise itineraries in
the Mediterranean, Northern Europe and the Caribbean. Festival Cruises intends to remain at the forefront of the
cruise industry, which is forecast to continue its astonishing growth in popularity well into the new millennium.
Accordingly, the company is investing a further US $1.2 billion in four newly- built ships to be constructed in
France by the same designers and shipyard responsible for Mistral. The first two of the four new ships, due for
delivery in 2001 and 2002, will be similar to Mistral but bigger, with 750 cabins, and will incorporate a higher
number of suites with private balconies, as well as some additional advanced features. All four new ships will
be equipped with azimuth propulsion pods, the latest technology in cruise ship propulsion
This press release contains ``forward-looking statements'' that involve a number of risks and uncertainties. Forward-looking
statements include those regarding our goals, beliefs, strategies, objectives, plans or current expectations and
matters that are not historical facts. For example, when we use the words ``believe,'' ``expect,'' ``anticipate''
or similar expressions, we are making forward-looking statements. American Tower Corporation, ``the Company,''
wishes to caution readers that certain factors may affect the Company in the future and could cause actual results
to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company.
Such factors with respect to Verestar include, but are not limited to (i) the reliance on increasing demand for
Internet and international data transmissions, (ii) the use of satellites and fiber for Internet data transmissions,
(iii) risks inherent in extensive foreign operations, including governmental licensing and regulation of business
in general and internet content and operations in particular, government expropriation, currency fluctuations,
inability to repatriate any earnings or other funds, and language and cultural differences that could impair management
control and operations, (iv) large fixed costs based on long-term leases of satellite space, (v) dependence on
third-party satellite operators, (vi) competitive pressures from third-party satellite operators, several of whom
are large international companies, and (vii) the successful operational integration of acquisitions. Additional
factors relating to the Company include, but are not limited to (i) substantial capital requirements and leverage
principally as a consequence of its ongoing acquisitions and construction activities, (ii) the success of the Company's
tower construction program and (iii) the Company's ability to locate attractive acquisition targets, acquire them
on terms the Company feels are reasonable, and successfully integrate its acquisitions. The Company undertakes
no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
SOURCE: Maritime Telecommunications Network