Flag Names Andres B.Bande Chairman and CEO

Flag Names Andres B.Bande Chairman and CEO

- Will Lead World's Longest Undersea Fiber Cable System -

December 16, 1997

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David Frail


HAMILTON, Bermuda -- The board of directors of FLAG Limited, owner and

operator of FLAG (Fiberoptic Link Around the Globe), announced today

that Andres B. Bande has been elected chairman of the board and chief

executive officer, effective Jan. 12, 1998.

FLAG is the world's longest undersea fiber optic cable system, linking

Europe, Asia and the Middle East through 13 landing points in 11


Bande joins FLAG from Sprint Corporation, where he has been president

of Sprint International since 1996.

"Andres has the experience and understanding of international

telecommunications markets to position FLAG as a market leader, and we

are extremely pleased with his decision to join us," said Daniel C.

Petri, acting chairman of FLAG. Petri, who is president of Bell

Atlantic Global Systems, will continue to serve on the FLAG board.

"I am delighted to have the opportunity to lead a visionary,

high-potential company like FLAG," said Bande. "FLAG is uniquely

positioned to serve the explosive growth in global telecommunications,

and I am looking forward to the challenge."

Before joining Sprint, Bande was president of Ameritech International

Corporation, where he launched the company's international strategic

investment unit and expanded its holdings to nearly $4 billion.

Before joining Ameritech, Bande was executive vice president of U S

West International. Prior to that he was president of Teleconsult, an

international telecommunications consulting practice. Bande was

chairman of the President's Advisory Commission on Educational

Excellence for Hispanic Americans during the presidency of George


A recognized expert on international trade, investment and

telecommunications, he is a frequent speaker on telecommunications

privatization and finance, and has published several articles and

papers on those topics. He holds a law degree from the University of

Chile and a master's degree in politics and international law from

Oxford University.

With landing points in Japan, Korea, China, Malaysia, Thailand, India,

the United Arab Emirates, Egypt, Italy, Spain and the United Kingdom,

the FLAG undersea cable system offers approximately 75 percent of the

world's population access to a broadband superhighway intended to meet

the soaring demand for communications services.

FLAG is the first major submarine cable system to be financed by

private investors rather than international carriers, and as such is

distinguished from traditional cable systems because its services can

be flexibly and responsively packaged and priced for a competitive

market. FLAG began commercial service last month with more than 60

international carriers as customers.

Investors in FLAG include Bell Atlantic Corp. of New York; the Dallah

Al-Baraka Group of Jeddah, Saudi Arabia; Telecom Holding Co., Ltd.;

Marubeni Corp.; the Asian Infrastructure Fund; GE Capital Services;

and Gulf Associates Inc.