Exhibit 99.1
NEWS RELEASE
OCTOBER 30, 2000 FIBERCORE ANNOUNCES $ 94 MILLION MULTI-YEAR CONTRACT
CHARLTON, MA-- (BUSINESS WIRE)--FiberCore, Inc. (OTC BB: FBCE) FiberCore, a
leading manufacturer and global supplier of optical fiber and preform for the
telecommunication and data communications markets, today announced that it
received a revised contract for single-mode optical fiber from an existing South
American customer valued at approximately $ 94 million, of which $73 million is
guaranteed under a "take or pay" provision. In addition, payments of $6 million
over the next eight months are scheduled in advance of shipment. This contract
supercedes an earlier contract for $ 27 million, previously announced on August
2nd; product will be shipped throughout 2000, 2001, 2002, and 2003 from Xtal,
FiberCore's newly acquired facility in Brazil.
Dr. Mohd Aslami, President and CEO, stated, "Unlike the softness in the
component sector recently reported by several companies, the upward revision as
well as the favorable terms of the contract from a major cabler represents
continued evidence of the strength of the optical fiber market."
In addition to our standard multi-mode and single-mode fiber, we offer GigaGrade
multi-mode fibers which are optimized to provide long link lengths at Gigabit
speeds in laser-based systems, and guarantees high bandwidths when used with
LED's (using overfilled launch).
The company also offers a line of ValuGrade[registered trademark] and
EconoGrade[registered trademark] optical fibers. These fibers are available in
single-mode and multi-mode designs, and are ideally suited for Feeder Loop,
Fiber-to-the Curb, (FTTC), Fiber-to-the Home (FTTH) and Fiber-to-the Desk (FTTD)
applications.
