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Titan Completes Installation of 30 Satellite Gateways in Africa, Middle East and Latin America The Titan Corporation has now installed 30 satellite gateways in developing markets throughout Africa, the Middle East, and Latin America, meeting its year-end 2000 goal. |
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SAN DIEGO, CA – January 5, 2001 – The Titan Corporation (NYSE: TTN) today announced that it has now installed 30 satellite gateways in developing markets throughout Africa, the Middle East, and Latin America, meeting its year-end 2000 goal. As part of its strategy of creating a recurring revenue stream, Titan, through its Titan Wireless subsidiary, has been capitalizing on the opportunity to provide telecommunications services to underserved markets by installing satellite gateways and using geosynchronous orbit satellites to offer voice and data capacity to international long distance carriers. With the first gateway installed in July 1999, Titan Wireless, through its subsidiary Sakon, has succeeded in building its wholesale long distance business to the delivery of more than 21 million minutes a month in less than 18 months. In addition to continuing to add new international gateways for a target of 40 by the end of 2001, Titan Wireless is now beginning to develop its retail corporate business. In Africa, Titan Wireless, through its subsidiary Ivoire Telecom, is now providing networking services to corporate customers such as Nestle, Western Union, Elf Oil Africa, and the Bank of Africa, operating in several different countries throughout the continent and is now expanding into the delivery of a full range of communications services including voice, data, and broadband Internet services. Initial service offerings are planned by Titan Wireless in selected markets first in Africa, followed by the Middle East and Latin America. A total of 10 markets are targeted for the initiation of service by the end of 2001. "We are proud of the progress Titan Wireless has made in conjunction with our subsidiaries Sakon and Ivoire Telecom, in developing a global network that in the future will deliver voice, data, and/or Internet services in more than 40 developing markets around the globe," said Gene W. Ray, Chairman, President, and CEO of Titan. "With three satellite hubs now in place, two in the U.S. and one in Europe, providing Titan Wireless with global geosynchronous orbit satellite coverage, and 30 gateways installed, we have succeeded in meeting our 2000 goals and are now well on our way to creating a business capable of generating a recurring revenue stream." 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 7,600 employees, annualized sales of approximately $1 billion and total backlog in excess of $2.2 billion. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release, which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Examples of such forward looking statements include the company's target of 40 markets for its wireless business by the end of 2001, or 10 markets for its retail wireless business. These statements 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 risks associated with the Company's entry into new commercial businesses and new markets, the risks of doing business in developing countries and international markets including foreign currency risks, and other risks described in the Company's Securities and Exchange Commission filings. |
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