MCI WorldCom Establishes New Venture Fund To Invest In High Growth Communication Products, Services And Technologies

Jackson, MS., November 20, 1998--

MCI WorldCom today announced the formation of a new venture fund
called the MCI WorldCom Fund. The fund's strategy is to invest in
companies that can create demand for and increase the performance of
MCI WorldCom's services and networks, and also deliver superior
financial returns. The fund will also invest in companies with
technologies that can influence the future development of the MCI
WorldCom high-capacity intelligent network, which provides fully
integrated voice and data services over the world's only
"local-to-global-to-local" network.
MCI WorldCom Senior Vice President Susan Mayer has been appointed
president of the fund, and will report to a three-person board of
directors comprising current MCI WorldCom board members Lawrence C.
Tucker, partner, Brown Brothers Harriman & Co. and co-manager of
the 1818 Private Equity Funds, Gordon Macklin, chairman, White River
Corporation and former chairman and CEO of the Nasdaq exchange, and
MCI WorldCom Chairman Bert C. Roberts Jr. (who will also be the
chairman of the fund).

"MCI WorldCom is committed to leading the industry with the
premier set of communication services carried on one of the most
technologically advanced networks in the world," said Mayer.
"Our strategic investments in businesses that enhance our
communications services and network will give MCI WorldCom-- and our
customers-- a tremendous competitive advantage."

The fund will have an initial value of approximately $500 million,
including existing assets and cash for future investments, and will
evaluate investments based on strategic and financial returns. The
fund's existing portfolio includes companies providing call
center solutions, network-based data distribution and work flow
solutions, network-based distance learning, transaction processing,
and systems integration.

MCI WorldCom is a global communications company with revenue of
more than $30 billion and established operations in over 65 countries
encompassing the Americas, Europe and the Asia-Pacific regions. MCI
WorldCom is a premier provider of facilities-based and fully
integrated local, long distance, international and Internet services.
MCI WorldCom's global networks, including its state-of-the-art
pan-European network and transoceanic cable systems, provide
end-to-end high-capacity connectivity to more than 38,000 buildings
worldwide. For more information on MCI WorldCom, visit the World Wide
Web at www.mciworldcom.com or
www.wcom.com

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