PSINet Inc. (Herndon, VA) announced an agreement to purchase currently activated STM-1 (155-Mbit/sec) fiber-optic network capacity from FLAG Ltd. (Hamilton, Bermuda). The Fiberoptic Link Around the Globe (FLAG) cable stretches more than 27,300 km between Japan and the United Kingdom, running through the Republic of Korea, China, Malaysia, Singapore, Thailand, India, United Arab Emirates, Egypt, Italy, and Spain. The agreement provides PSINet with an immediate indefeasible right-of-use on the STM-1 fiber capacity for the expected 24-year life of the FLAG cable. Other terms of the agreement were not disclosed.