| The company provides competitive local telecommunications services in London, England and Frankfurt, Germany, where, as of September 30, 1996, it owned and operated approximately 182,000 route meters of digital fiber optic networks. The company's customers are primarily large business and government end users and telecommunications carriers and as of September 30, 1996, the company was providing service to customers in 536 buildings in London and 57 buildings in Frankfurt. the company intends to expand its existing networks in England and Germany and, as regulatory conditions permit, develop new networks in major metropolitan markets in Europe. Since activating its first customer in October 1993, the company's revenues have grown to approximately 9.2 million pounds ($14.4 million) for the year ended December 31, 1995 and 22.5 million pounds ($35.3 million) for the nine months ended September 30, 1996. |