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Business
Wire
December 5, 2001
Global
Crossing Connects KB Toys to High-Speed Data
Network
- High-speed network makes
credit card authorizations three
times faster
for customers
- Enables near real-time
communications between locations
- More than 1,300 domestic
KB Toys stores connected via Global
Crossing Network
Global Crossing Ltd. (NYSE: GX) announced today the completion
of a high-speed data network that will make credit card authorizations
three times faster for customers of KB Toys,
the nation's largest combined mall-based and online specialty
toy retailer.
Global Crossing has connected more than 1,300 KB Toys
stores around the country to each other and to corporate headquarters
through its frame relay network. Global Crossing's frame relay
service is a cost-effective alternative to standard dial-up
solutions. The private network will serve as the platform
for all of KB Toys' current and future networking
applications. Using this high-speed, secure network, KB
Toys can implement programs designed to make shopping
at its stores faster and easier. KB Toys is already realizing
benefits from the Global Crossing network solution. The network
allows KB Toys stores across North America to reduce the time
it takes for credit card authorizations and for communicating
with the home office. It enables near real-time communications
between locations to ensure accurate and timely information
sharing.
"Thanks to Global Crossing's high speed network solution,
we're reducing the time it takes for credit card authorizations
from about 18 seconds to five or six seconds," said Steve
Raimer, Director of Network Services & Emerging Technologies,
KB Toys. "It's essential for us to process transactions quickly
and securely. Global Crossing worked with us to develop the
right solution for our needs," added Raimer.
"KB Toys needed a network that would provide superior performance,
reliability and security," said Global Crossing Chief Executive
Officer John Legere. "We're excited to be working with KB
Toys to meet their communications needs."
About Global Crossing
Global Crossing Ltd. (NYSE:GX) provides telecommunications
solutions over the world's first integrated global IP-based
network, which reaches 27 countries and more than 200 major
cities around the globe. Global Crossing serves many of the
world's largest corporations, providing a full range of managed
data and voice products and services. Global Crossing operates
throughout the Americas and Europe, and provides services
in Asia through its subsidiary, Asia Global Crossing (NYSE:
AX). Please visit www.globalcrossing.com or www.asiaglobalcrossing.com
for more information.
About KB Toys
KB Toys is the nation's largest combined mall-based and online
specialty toy retailer, operating more than 1,300 stores in
all 50 states, the American Territory of Guam and the Commonwealth
of Puerto Rico, doing business as KB Toys, KB Toy Works, KB
Toy Outlet, KB Toy Liquidators, KB Toy Express and with online
shopping at KBtoys.com (www.kbtoys.com) & eToys (www.etoys.com).
Offering a wide and competitively priced selection of toys
and video games, commitment to customer service, convenient
mall locations and a growing online shopping site, including
the new KBwholesale.com, KB Toys combines the speed of the
Internet with the convenience of returns at any store. KB
Toys is headquartered in Pittsfield, Massachusetts, and employs
more than 13,000 associates nationwide. KB Toys became a privately
held company in December 2000 through a management buyout
in partnership with Bain Capital Inc.
Statements made in this press release that state the Company's
or management's intentions, beliefs, expectations, or predictions
for the future are forward-looking statements. Such forward-looking
statements are subject to a number of risks, assumptions and
uncertainties that could cause the Company's actual results
to differ materially from those projected in such forward-looking
statements. These risks, assumptions and uncertainties include:
the ability to complete systems within currently estimated
time frames and budgets; the ability to compete effectively
in a rapidly evolving and price competitive marketplace; possible
reductions in demand for our products and services due to
competition or changes in industry conditions; changes in
the nature of telecommunications regulation in the United
States and other countries; changes in business strategy;
the successful integration of newly-acquired businesses; the
impact of technological change; and other risks referenced
from time to time in the Company's filings with the Securities
and Exchange Commission. CONTACT: Global Crossing Ltd.
Press
Shelly Tripp Dates
+1 716 777 6110
shelly.tripp@globalcrossing.com
or
Analysts / Investors
Ken Simril
+1 310 385 5200
investors@globalcrossing.com URL: http://www.businesswire.com
Copyright
2001 Business Wire, Inc.
Business Wire
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