WinStar Communications Inc. (New York City) and Williams Communications Inc. (Tulsa, OK), a

WinStar Communications Inc. (New York City) and Williams Communications Inc. (Tulsa, OK), a subsidiary of Williams, announced two major agreements to optimize the value of their respective telecommunications networks. Under the agreements, Williams Communications will obtain 2% of the long-term capacity of WinStar`s expanding fixed wireless network for $400 million. WinStar will obtain nationwide dark fiber backbone assets from Williams Communications for $640 million. Prior to Williams lighting its new fiber, it will provide all of WinStar`s long-haul transport requirements.

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