Nortel Makes $5 Million Equity Investment in Log On America - Company Business and Marketing

Cambridge Telcom Report, Dec 27, 1999

Log On America, Inc., a rapidly growing Competitive Local Exchange Carrier ("CLEC") providing Digital Subscriber Lines ("DSL") and integrated communications solutions in the Northeast, has announced that Nortel Networks, Inc. confirmed a $5 million equity investment in Log On America, which approximately represents a 3.1% stake in the company.

The investment s part of an agreement under which Log On America will buildout a high-speed network across New England with Nortel Networks end-to-end data networking solutions. The agreement also calls for Nortel Networks to provide Log On America with a $45 million multiple advance term loan facility.

Log On America, Inc. is a Northeast Regional Competitive Local Exchange Carrier ("CLEC") and Information/Internet Service Provider ("IISP"), providing local dial tone, in-state toll, long distance, high-speed Internet access and cable programming solutions over traditional copper wire using DSL technology to residential and commercial clients throughout the Northeast. FMI: http://www.loa.com.