Sunday, June 29, 2003

From Rich Shockey:
SANTA CLARA, Calif.--(BUSINESS WIRE)--Dec. 16, 2002--Covad
>Communications (OTCBB:COVD) introduced a voice and Internet access
>bundled service designed for small businesses in the San Francisco Bay
>Area. TeleXchange(SM) Integrated Services offers both business quality
>voice and data at up to 40 percent savings over phone company
> "Popularizing broadband just found its voice as we introduce a
>bundled service to new and current customers in the Bay Area," said
>Todd Kiehn, Covad group product manager for voice services. "This
>popular bundle of services is designed to meet business needs for
>quality, convenience, features and value that can make the small
>business owner's life easier."
> TeleXchange will provide up to 24 full-featured phone lines and a
>high-speed connection to the Internet over one digital subscriber line
>(DSL) connection. The cost-effective bundled services are billed on one
>easy-to-read monthly statement. Covad provides a single number to call
>for both voice and data customer support at any time, 24 hours a day,
>seven days a week. A Covad professional installer handles service
> Available through Covad Direct, TeleXchange is initially available
>exclusively in the San Francisco Bay area. Covad expects to make the
>service available in additional markets throughout 2003.
> Covad has special introductory offers of free installation and free
>equipment and activation after rebate and credit.
> "Customers are looking for real choices in providers of business
>communications services basics and Covad has a strong history of
>reliability and quality," said Kiehn. "We expect that this quality,
>along with the simplicity, convenience and value of TeleXchange, will
>make Covad a popular choice."
> "Small businesses have always gotten the short end of the stick
>when it comes to the best the next generation network has to offer,
>particularly when it comes to bundled voice and data services," said
>Pat Hurley, DSL analyst with TeleChoice, Inc. "Services like Covad's
>TeleXchange are going to find a pent up market demand for the one-stop
>shopping that other larger companies have been getting for years."
> Voice Services
> Phone services include unlimited local calling, with bundles of
>long distance minutes included. TeleXchange also allows for access to
>directory and operator services and long distance calling. Key calling
>features like Caller ID, Call Waiting and 3-Way Calling are included at
>no extra cost.
> Covad's expects its customers to save up to 40 percent each month
>by switching to Covad from current local and long-distance phone
>companies. According to industry data and current competitor prices, a
>Bay Area small business with four telephone lines could spend as much
>as $330 each month on phone service, compared with Covad's $200 price
>for the four-line bundle, not including the required Covad DSL service.
> TeleXchange's quality and sound are indistinguishable from
>standard telephone service. Covad's network utilizes a high quality
>asynchronous transfer mode (ATM) backbone, which provides reliable
>business quality voice and data services. The voice service is carried
>through Covad's data network and connected to the public telephone
>network in the Bay Area.
> "The 'V' in Covad originally stood for voice, so the network was
>designed for this product by our network architects," said Charlie
>Hoffman, Covad CEO and president. "They understood that small
>businesses require top quality, but shouldn't have to pay a premium.
>Our reliable ATM network provides that high quality service
>efficiently and cost-effectively."
> Covad has partnered with Focal Communications, a leading national
>provider of local phone and data communications, to provide the voice
>services network for TeleXchange. Focal owns its own network and is
>not dependent on purchasing wholesale services from the regional phone
> Data Services
> TeleXchange bundle provides high-speed Internet access with
>business ISP options, including business e-mail, flexible IP address
>options, web hosting, and custom domain name services. Data speeds are
>symmetric, providing equally fast bandwidth for uploading and
>downloading data. Currently, TeleXchange is DSL-based, with a T1
>product expected to be introduced with the national expansion.
> The equipment at the customer site includes an integrated access
>device, which combines voice and data on a single DSL line. Both
>signals connect to Covad's DSL equipment in the local central office.
>From there, data signals are routed on the Covad ATM network to the
>Internet, while voice signals are connected to the telephone network on
>a separate, high-quality ATM connection.
> TeleXchange will be managed online by customers through Covad's
>SMART account manager. Customers will be able to upgrade and downgrade
>their Internet access speeds, add and subtract voice lines, modify
>feature settings, review invoices and call records, and check
>troubleshooting tips. New business DSL service is typically installed
>in 20 days, with the voice services available about five days after the
>DSL is installed. Customers choosing to keep their current telephone
>numbers may experience a longer interval for voice availability.
> TeleXchange requires a one-year term agreement. However, the
>service can be ordered for 30 days risk-free as part of Covad's
>Satisfaction Guaranteed policy.
> TeleXchange is available from Covad Direct by calling 800/636-3500
>or from the Covad web site at
> About Covad Communications
> Covad is a leading national broadband service provider of
>high-speed Internet and network access utilizing Digital Subscriber
>Line (DSL) technology. It offers DSL, T1, managed security, IP and
>dial-up services and bundled voice and data services directly through
>Covad and through Internet Service Providers, value-added resellers,
>telecommunications carriers and affinity groups to small and
>medium-sized businesses and home users. Covad services are currently
>available across the United States in 94 of the top Metropolitan
>Statistical Areas (MSAs). Covad's network currently covers more than 40
>million homes and business and reaches approximately 40 to 45 percent
>of all US homes and businesses. Corporate headquarters is located at
>3420 Central Expressway, Santa Clara, CA 95051. Telephone:
>888/GO-COVAD. Web site:
> Safe Harbor Statement under the Private Securities Litigation
>Reform Act of 1995:
> The statements contained in this press release that are not
>historical facts are "forward-looking statements," including the
>statements regarding the rollout of TeleXchange services outside of San
>Francisco, as well as statements made by the president and CEO and the
>group product manager and the assumptions underlying such statements.
>Actual events or results may differ materially as a result of risks
>facing Covad or actual results differing from the assumptions
>underlying such statements. Such risks and assumptions include, but are
>not limited to, Covad's ability to continue as a going concern, to
>continue to service and support its customers, to successfully market
>its services to current and new customers, to manage the consolidation
>of sales to a fewer number of wholesale customers, to successfully
>migrate end users, Covad's ability to generate customer demand, to
>achieve acceptable pricing, to respond to competition, to develop and
>maintain strategic relationships, to manage growth, to receive timely
>payment from customers, to access regions and negotiate suitable
>interconnection agreements, all in a timely manner, at reasonable costs
>and on satisfactory terms and conditions, as well as regulatory,
>legislative, and judicial developments and the absence of an adverse
>result in litigation against Covad. Covad disclaims any obligation to
>update any forward-looking statement contained in this press release.
>All forward-looking statements are expressly qualified in their
>entirety by the "Risk Factors" and other cautionary statements included
>in Covad's SEC Annual Report on Form 10-K for the year ended Dec. 31,
>2001 and its Report on Form 10-Q for the period ended Sept. 30, 2002.

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