Pan-European network

Hermes Europe Railtel BV, Brussels, has signed a four-year contract with Alcatel to be the exclusive supplier of synchronous digital hierarchy transmission equipment, fiber-optic cable installations, and related management and operations systems for the Hermes Europe Railtel Pan-European network. According to Hermes` sources, the value of the four-year contract is European currency unit $200 million (US $260 million) and is part of a 10-year contract valued at ECU $500 million (US $650 million).