Hot off the press: (press release from NSI)
US Government Extends Network Solutions Cooperative Agreement
through September 2000
Herndon, Va., October 6, 1998 - Network Solutions, Inc. (NASDAQ:
NSOL) and
officials from the Department of Commerce�s National
Telecommunications and
Information Administration (NTIA) have agreed to a two-year
extension of the
Cooperative Agreement between the US Government and Network
Solutions with
provisions to transition relevant US Government authority to a new
non-profit
corporation for coordination of some domain name system functions.
As part of the
agreement, Network Solutions and NTIA have agreed to a plan for
the
transition to a
shared registration system in a phased approach beginning March
31,
1999 with full
implementation by June 1, 1999. Network Solutions will build a
shared registration
system to support multiple licensed, accredited registrars
offering
registration
services. Network Solutions and other domain name registrars will
function as
retailers of domain name registration services through Network
Solutions� shared
registration system. Network Solutions will also continue in its
role as the registry --
or wholesaler -- of .com, .net and .org domain name registrations.
Network Solutions
has registered more than 2.3 million domain names, or Web
addresses,
in .com,
.net , .org and .edu.
Network Solutions has worked with the US Government pursuant to a
five year
Cooperative Agreement to develop and maintain some of the key
administrative
functions of the Internet including the domain name registration
system. This new
amendment extends the Cooperative Agreement through September 30,
2000.
Other highlights from the extension include the following:
Network Solutions will submit a copy of all software and data
generated under
the Cooperative Agreement through September 30, 1998 to
the US
Government.
Once a shared registration system is implemented, pricing for
Network
Solutions� shared registry services for .com, .net, .org and
.edu will be a
specific dollar amount per registration, per year, and
will be
specified in a
further amendment reflecting Network Solutions� costs and a
reasonable
return on its investment.
Following the finalization of the US Government�s agreement
with a new
non-profit corporation - also known as Newco -- that will act
as a coordinating
body for domain name system administrative functions, Network
Solutions will
negotiate a contractual relationship with Newco.
Network Solutions will continue to function as the
administrator for the
primary root server -- known as root server A -- for the root
server system and
as a root zone administrator until such time as the US
Government instructs
Network Solutions to transfer either or both of these
functions
to Newco or a
specific alternate entity.
Founded in 1979, Network Solutions, Inc. (NASDAQ: NSOL) pioneered
the
development of registering Web addresses ending in .com, .net,
.org
and .edu.
Network Solutions also provides enterprise network consulting
services, focusing on
network engineering, network security and network management
solutions for
commercial customers. For more information, see the
www.networksolutions.com
Web site.
Contact: For Media, Christopher Clough, [EMAIL PROTECTED], (703)
742-4706, for
Investor Relations, Bob Korzeniewski, [EMAIL PROTECTED], (703)
742-4741.
*************
Now the battle remains over the shape that NewCo is going to take.
Personally, I will submit my support for the Boston Working Group draft
Articles and bylaws to NTIA.
Anyone else?
Joop Teernstra
[EMAIL PROTECTED]
http://www.imachination.com
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