BELLSOUTH, STARMEDIA SIGN FIVE-YEAR PACT

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(May 31, 2001) -- BellSouth, Atlanta, has entered a five-year strategic agreement with Spanish- and Portugese-language portal StarMedia Network, New York, and has bought a stake in the company.

Through the deal, multi-access portals will be launched during the next six months in major Latin American markets, enabling customers of BellSouth's Latin America affiliates to access personalized information from their computers and cellular phones.

StarMedia will provide multi-access portals, mobile applications, content and application integration to BellSouth, which will supply wireless communications, marketing of services and billing.

The companies will share revenues, and BellSouth will become StarMedia's preferred bandwidth, hosting and network provider. The two companies will jointly promote the co-branded portal through advertising and marketing. -- Adrienne Mand

Copyright May 2001, Crain Communications Inc.

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